Banks in the European Union tagged 68% of their fair value assets as hard or impossible to price using market inputs at end-2019, with Norwegian, Danish and Finnish lenders disclosing even higher proportions, data from the latest EU-wide transparency exercise shows.

Aggregate assets across the 127 banks surveyed were €30.46 trillion ($34.54 trillion) at end-2019, of which 25% were accounted for at fair value. Of these assets, 32.3% were designated Level 1, meaning they could be priced in the