At UniCredit, XVAs amped trading gains in Q3
Italian bank claimed a €110 million benefit to earnings from valuation adjustments
Italian lender UniCredit made €455 million ($538 million) in trading income over the third quarter. But of this amount, 24% came about through favourable valuation adjustments (XVAs) to its derivatives portfolio rather than in cash revenue.
UniCredit said XVAs, including debit, credit and funding valuation adjustments, added €110 million to its trading income over Q3. In Q2, these adjustments
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