BAML takes $497m FVA loss
US bank becomes thirteenth to reflect cost of uncollateralised trades
Bank of America Merrill Lynch (BAML) has recognised the funding costs of uncollateralised derivatives trades, taking a $497 million loss in its fourth-quarter results, published today.
"This quarter we adopted a funding valuation adjustment (FVA) and incurred a $497 million charge against our sales and trading results as a result," said chief financial officer Bruce Thompson on the bank's investor call today.
"FVA is an adjustment to the fair value of uncollateralised derivative trades to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Risk management
7 days in 60 seconds
SA-CCR, IM relief and the fuzziness of good behaviour
The week on Risk.net, February 15-21, 2020
Receive this by email