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.

Current value

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.

This value controls the level to use with the current effect.

The policy implications of this reasoning add value to current thinking.

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

If the world economy s current growth patterns continue, we face ecological disaster.

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.

So what s unsustainable? Why can t the US current account deficit remain at its 2006 value indefinitely?

Thus, at current market prices, it is worth more than 100 billion over its book value.

This gain must be preserved in the face of the current clamor to nationalize banks.

At current carbon prices, the value of carbon sequestration by tropical rainforests likely equals or exceeds the current level of international aid being provided to developing countries.

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.

Those countries that value the current system will increasingly feel the urge to close ranks to defend it.

But the relative value of the leak in Turkey's current context is still being questioned by Turkish netizens.

Indeed, America s current account position strengthened despite the dollar s appreciation in the face of safe haven demand.

And, having played a central role in creating the current mess, it is now trying to regain face.

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).

The present value of future benefits is the discounted value of all benefits, less retiree contributions, to be paid in the future to all current retirees and active staff expected to retire.

Concerned that the Secretary General continues to face difficulties in meeting the obligations of the Force on a current basis, including reimbursement to current and former troop contributing States,

Concerned that the Secretary General continues to face difficulties in meeting the obligations of the Force on a current basis, including reimbursement to current and former troop contributing States,

Now they see the current crisis as a vindication of the value of not spending money that you don t have.

This amount represents the present value, which is the discounted value of all benefits, less retirement contributions to be paid in the future to all current retirees and active employees expected to retire.

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.

In view of those achievements, the Second Committee during the current session should focus on areas where it could add value.

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

It is running a current account surplus that is now larger than China s indeed, the largest in the world in absolute value.

Germany s current policy is all the more absurd in view of the bitter political and economic consequences that it would face.

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.

The current plan to reduce the present value of privately held bonds by 20 is just a first small step toward this outcome.

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).

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.

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.