Valuation at the heart of crisis: Banque de France
Valuation issues lie at the heart of the financial turmoil, Banque de France stated in its latest Financial Stability Review.
"In many respects, the current crisis is about valuation," said Christian Noyer, the governor of Banque de France, "To be sure, factors underlying and affecting the crisis are many. Yet, what is particularly striking is that uncertainty about the true value of complex financial instruments (structured products) undermined global markets' confidence, raised uncertainty
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