Level 2 Asset

Level 2 Asset - Level 2 Asset as determined by FASB 157, is an asset, or assets which do not have a fair market value that when looked up, but instead is able to calculate from other data points. A level 2 asset might list on a non-active market, or be valued by a specific pricing model. Financial assets and liabilities whose values are based on quoted prices in inactive markets, or whose values based on models, but the inputs to those models are observable either directly for substantially the full term of the asset or liability. Level 2 asset inputs include restricted stock.