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Amortized Values 
Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

In valuation of bonds, the original cost price, minus the AMORTIZATION of premium (on straight-line basis) to maturity of earlier call feature producing lowest amortized value.  This is the basis prescribed, for example, by New York State for all insurance companies for 1967 (amortized values on amortizable securities and values on the "convention" basis for other securities).

Banks in valuing bonds are required to amortize premium and have the option of accreting discount.

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