This document proposes adjustments to fair value accounting to reduce procyclicality. It suggests using a historical moving average over four quarters to calculate asset values for capital requirements, rather than quarterly mark-to-market valuations. This would dampen the impact of short-term market volatility on capital while still providing transparency through footnote disclosures. It aims to balance microprudential and macroprudential objectives by giving regulators flexibility to adjust requirements in times of stress without changing the accounting methodology. Feedback is requested on using a moving average to decrease fair value's potential to exacerbate downturns.