The fair value (FV) of loans at major U.S. banks relative to their carrying amount dipped along with the beginning of the recession in 2007, Fitch Ratings said in a new report. 

The rating agency reviewed the FV disclosure of bank loans at 20 large U.S. banks in the last 10 years to find out if the FV of loans derived from current disclosure provides a leading, lagging or immediate indicator of credit losses.

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