Mark-to-model assets spiked at eurozone banks in Q1
Assets deemed hard-to-value increased by 17% at major eurozone banks over the first quarter.
Level 3 assets, those for which market prices are not available and are instead valued using banks’ own models, totalled €230.7 billion ($271.2 billion) across the 112 significant institutions overseen by the European Central Bank (ECB) as of Q1, up from €197.3 billion three months prior.
These made up 0.96% of total assets as of end-March, up from 0.89% at end-December. Level 2 assets, those valued
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