Unique and Hard-to-value Assets

This booklet describes unique assets and hard-to-value assets, risks associated with investing or holding these assets, and the fiduciary role in managing these assets. This booklet provides guidance for examining these types of discretionary assets held in fiduciary accounts in asset management areas of national banks and federal savings associations (collectively, banks). In many instances, the guidance is equally applicable to assets held in custody accounts and to non-managed trust accounts. The guidance provides bank examiners with expanded examination procedures, which supplement the core assessment standards in the ?Large Bank Supervision? and ?Community Bank Supervision? booklets of the Comptroller?s Handbook. The examination procedures are optional but may be used when a bank has a significant number of unique assets to manage or has hard-to-value assets for reporting purposes.