Although proponents and opponents of the amendment differed on the economic consequences of its adoption , both expected it to have a major impact .The expectation was that it would result in the revaluation upward of troubled assets , especially mortgage-based securities ,by lowering their fair value hierarchy measurements from Level 2 to Level 3 and that bank profits might increase by as much as 20 percent .14 However , as noted earlier in Chapter 1 , a subsequent study of the impact of the adoption of FSP FAS 157-4 on seventy-three of the largest banks in the United States found that a large majority of the banks reported that adoption of the new requirements had no material impact .15