Credit Suisse takes Sfr279 million FVA loss
Credit Suisse becomes the fifteenth bank known to have taken an FVA charge
Credit Suisse recorded a Sfr279 million ($299 million) loss in its fourth-quarter results to reflect the cost of funding uncollateralised derivatives positions. It cited growing industry consensus for the move.
"The banking industry has increasingly moved towards this valuation methodology, which accounts for the funding costs of uncollateralised derivatives at their present value rather than accruing for these costs over the life of the derivatives," the bank said in its February 12 earnings
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