Mark to Market Accounting - Hold to Maturity

Hold to maturity is an accounting mechanism that allows the banks to hold assets that have traded down or up in value and kind of market differently. So we've seen the bond market goes up and down as all assets do. But bonds are kind of different because they guarantee to pay you back if it's the US treasury bond, they can't go bus Because they can create money. If a bond is trading 90 cents, at the end of maturity, it'll mature at 100. Now we would have blown up the banks earlier if they had marked a market accounting,. which is every day your marquee books.