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ALL » Topics » ABS residential mortgage-backed securities (ABS RMBS); Alt-A residential mortgage-backed securities (Alt-A):

This excerpt taken from the ALL 10-Q filed Nov 6, 2008.
ABS residential mortgage–backed securities (“ABS RMBS”); Alt-A residential mortgage–backed securities (“Alt-A”):  ABS RMBS and Alt-A are principally valued based on inputs including quoted prices for identical or similar assets in markets that exhibit less liquidity relative to those markets supporting Level 2 fair value measurements.  Certain ABS RMBS and Alt-A are valued based on non–binding broker quotes.  Due to the reduced availability of

 

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THE ALLSTATE CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

actual market prices or relevant observable inputs as a result of the decrease in liquidity that has been experienced in the market for these securities, all ABS RMBS and Alt-A are categorized as Level 3.

 

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