"They can't get rid of this rule fast enough," says a bank analyst of the FASB's progress toward eliminating the debt valuation adjustment (DVA) from bank earnings. The rule - which perversely adds to earnings as a bank's credit deteriorates (and subtracts from the bottom line as credit improves) - has been behind big whipsaws in reported numbers in recent quarters (Q3 will be no exception). "(It's) one of the more ridiculous concepts that's ever been invented in accounting," says Jamie Dimon.
"They can't get rid of this rule fast enough," says a bank analyst of the FASB's progress toward...
From other sites
Video at CNBC.com (Fri, 12:40PM)
Video at CNBC.com (Fri, 5:09AM)
Video at CNBC.com (Tue, 7:25AM)
Video at CNBC.com (Mon, 5:51AM)
Video at CNBC.com (Feb 3, 2016)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs