## F.9 Valuation of Loans (Fair Value)

## Source details

**Canonical URL:** [F.9 Valuation of Loans (Fair Value)](https://www.imf.org/-/media/files/data/statistics/bpm6/fitt/fitt-f9-global-consultation-questionnaire.pdf)

## Other formats

- [Markdown version](/-/media/files/data/statistics/bpm6/fitt/fitt-f9-global-consultation-questionnaire.pdf.md)
- [Structured JSON version](/-/media/files/data/statistics/bpm6/fitt/fitt-f9-global-consultation-questionnaire.pdf.json)

---

### Overview and Instructions
- The questionnaire solicits a single coordinated response per country, recommending coordination between the national agencies responsible for national accounts and balance of payments compilation (for example, National Statistics Office and Central Bank).
- If only one agency provides a coordinated answer concerning national accounts and balance of payments, indicate that in Question 2.
- Respondents provide answers by clicking check boxes or typing in text boxes that expand automatically.
- A printable version of the questionnaire is available upon request.
- For questions or further information contact STABPM6Update@imf.org or sna@un.org.
- The questionnaire begins with respondent information requested in Question 1: Country, Institution/Organization, Name, Position/Title, Email.

### Scope (Question 2)
- Respondents must indicate which area of macroeconomic statistics their response concerns:
  - National Accounts
  - Balance of Payments
  - Both National Accounts and Balance of Payments

### Conceptual Issues and Recommended Options (Questions 3–8)
- The guidance note examines the current nominal valuation principle for loans and presents options in paragraph 14: either maintain the existing framework (Option 1) or change it by shifting from nominal to fair valuation (Option 2).
- Question 3 asks which proposed option is favored conceptually:
  - Option 1
  - Option 2
  - Undecided
  - If Undecided, respondents are instructed to move to Question 9 after responding to Question 4.
- Respondents are asked (Question 4) to provide arguments supporting their conceptual preference in free text.

- If Option 1 (nominal) is preferred, respondents choose a sub-option (Question 5):
  - Option 1a: do not change the current valuation of loans and leave in the updated SNA and BPM the provisions recommending that loans be recorded in the balance sheets of both creditors and debtors at nominal value
  - Option 1b: Retain the recommendation to measure loans at nominal value and improve and clarify the updated SNA and BPM guidance within the limits of the existing framework, allowing for value reset beyond cases of bankruptcy and liquidation when there is public evidence of loan deterioration
- Question 6 requests arguments in support of the selected nominal sub-option.

- If Option 2 (fair value) is preferred, respondents choose a sub-option (Question 7):
  - Option 2a: Change the existing valuation rules in the updated SNA and BPM, shifting to a simplified estimate for fair value, based on nominal value less expected loan losses
  - Option 2b: Change the existing valuation rules in the updated SNA and BPM, shifting to full fair valuation at any time for all loans in the core accounts
- Question 8 requests arguments in support of the selected fair-value sub-option.

### Practical Implementation (Questions 9–12)
- Question 9 asks whether the institution has access to the relevant source data to implement each option. Responses requested for:
  - Option 1b: Yes / No
  - Option 2a: Yes / No
  - Option 2b: Yes / No

- Question 10 asks respondents to select implementation challenges for Option 1b, Option 2a, and Option 2b, with checkboxes for:
  - Technical Capacity
  - Other challenge (please specify) — with space to type a specification

- Question 11 asks whether the institution would be interested in participating in an experimental estimates exercise to implement any of the options. Responses possible:
  - Option 1b
  - Option 2a
  - Option 2b
  - None
  - This question is shown only if Question 9 = Yes for at least one option.

- Question 12 asks whether technical assistance would be needed if the institution is interested in participating in an experimental estimates exercise. Responses:
  - Yes
  - No
  - This question is shown conditionally if Question 11 selects option 1b/2a/2b.

### Key Procedural Notes and Conditional Logic
- Questions 5 and 6 are conditionally hidden unless Q3 = Option 1 is selected.
- Questions 7 and 8 are conditionally hidden unless Q3 = Option 2 is selected.
- Question 11 is conditionally shown if Q9 = Yes for at least one option.
- Question 12 is conditionally shown if Question 11 selects option 1b/2a/2b.
- A response is required for Question 2 (noted with an asterisk: "1 * means that a response is required.").

---


_Source: https://www.imf.org/-/media/files/data/statistics/bpm6/fitt/fitt-f9-global-consultation-questionnaire.pdf_