Although accounting rules often permit banks to price these assets at face value, it is generally believed that the fundamental value of many toxic assets has fallen significantly below face value.

The alternative is to cut the face value of Greece s debt.

Inflation has caused the face value of coins to fall below the hard currency value of the historically used metals.

If we take this metaphor at face value, there is a surprising consequence.

The benefits of conservation to the world as a whole far exceed the value of exploitation to a country like Papua New Guinea (PNG).

Suppose that the bank has assets with long maturity and a face value of 1.2 billion but whose current economic value is only 1 billion.

Although the value of the bank s assets doesn t exceed its liabilities, depositors won t flee as long as the government backs the bank by guaranteeing its deposits.

Alternatively, the debt holders can agree to reduce the face value of debt, in exchange for some warrants.

And, with the face value of the debt unchanged, the psychological drag on expectations and investment might linger.

The original copper coins ( as ) had a face value of one Roman pound of copper, but weighed less.

As a result, the total value of imports is expected to exceed 10 trillion in only two years, providing lucrative investment opportunities and broader markets to foreign investors.

Migrant remittances exceed the value of all overseas development aid combined, to say nothing of the taxes that migrants pay, the investments they make, and the trade they stimulate.

The indispensible first step, however, is a deep write down of Greek debt to less than half its face value.

America s credibility, already low in Yemen, has hit rock bottom its leaders words are no longer taken at face value.

The value of improvisation in the face of novel threats does not imply that existing rules should be peremptorily discarded.

And even if they are, we should exceed them yes we should exceed our limitation.

But doesn t the banks ability to raise new equity capital indicate that, regardless of whether the stress tests are reliable, investors believe that their assets value does significantly exceed their liabilities?

I immediately sell that bond in the market, for 0.91, so I get 9.1 million ( 0.91 x 10 million at face value).

School education was made free in 1980, but since 1988, the government has steadily increased the charges attached to school enrolment until they now greatly exceed the real value of fees in 1980.

In fact, the swordfish caught by the world's leading swordfish harvesters Japan and Taiwan is primarily bycatch from tuna fisheries. In effect, the value of the bycatch fish may exceed the targeted fish.

This can be accomplished in two ways sharply cutting the interest rate paid by Greece, or reducing the face value of the debt.

And others have been far too willing to accept at face value submissions from countries where the rule of law is routinely abused.

So, if Latin American countries wanted to export higher value added goods, they would face significantly higher tariffs, undermining their competitiveness in Asian markets.

That ye exceed not the measure ,

That ye exceed not the measure ,

I borrow, at face value, 10 million of the Greek government s 2016 bond, which is then trading at 0.91, from Goldman Sachs for six months.

Diana might have had a better life in the US, where people and the media are more ready to accept good intentions at face value.

China, meanwhile, with foreign reserves worth half its total output, denies with a straight face that it is deliberately manipulating the value of the renminbi.

Where value added in Chinese manufacturing has been growing by 8 a year, service sector productivity is unlikely to exceed 1 if China is unlucky or unwise enough to follow the example of Korea and Japan.

Illiteracy levels exceed 40 in several countries.

The fine therefore does not exceed 275,000.

Taken at face value, it seems to suggest that governments have all but abandoned their commitments to the World Trade Organization and the multilateral trade regime.

And yet, in the end, Greece had little choice but to restructure its debt, cutting the value of private claims by about 75 relative to their face value (although even this is probably not enough to make the country s debt burden sustainable).

The figure for 2009 could exceed 50 billion.

The death toll is expected to exceed 15,000.

Neither did sight falter nor exceed the bounds .

In these departments, shortages exceed 50 per cent.

Seven companies have sales that exceed 10 million.

But, after so many disappointments, China cannot accept at face value the assurances of European politicians, which even they themselves do not know whether they can redeem.

The Argentine Government undertook a first debt swap in June 2001 government bonds with a face value of 29.5 billion were voluntarily exchanged for longer term instruments.

And fossil fuel subsidies exceed 400 billion annually, while the yearly total for public subsidies of natural resources is estimated to exceed 1 trillion.

In his 1908 essay Der moderne Denkmalkultus (The modern cult of monuments) he describes historical value, artistic value, age value, commemorative value, use value, and newness value.

They bought the old bonds at a fraction of their face value, and then used litigation to try to force Argentina to pay 100 cents on the dollar.

The final tab on the toxic mortgage bailout and other assets is likely to be a larger percentage of a larger amount, but still far less than the face value of the loans, because the underlying assets will in many cases retain considerable value.

As long as banks are permitted to operate this way, the banks supervisors are betting on the banks ability to earn their way out of their current problems even if the value of their assets doesn t now significantly exceed their liabilities.