wizofoz

I think they mean securities that are HTM are to be carried at ammortised cost.

However securities that WOULD NORMALLY be carried at HTM or AFS, can be carried at fair value under certain circumstances, but if they are classified as 'designated at fair value' they are no longer classified as HTM.

So what you have above is correct its just the wording, if they are classified as Fair Value, then they are not HTM, but they could also be classified as HTM if the firm wishes..

I think im confusing myself now...