The Fed on CRE. No need to price anything to reality

From the comments at Zero Hedge about the Fed press release about commercial real estate

I am truly depressed. ONLY the FED could come up with this line:

“In addition, performing loans, including those renewed or restructured on reasonable modified terms, made to creditworthy borrowers, will not be subject to adverse classification solely because the value of the underlying collateral declined.”

Please continue to mark to myth because we said it is alright e.g. continue on with the pretend and extend program.

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