Nomura loses $18m on derivatives CVAs and DVAs

Net result from own and counterparty credit spreads swings to negative

Credit and debit valuation adjustments (CVAs and DVAs) on derivatives cost Nomura ¥2.6 billion ($17.8 million) in the three months to end-September, in a stark turnaround from the previous quarter’s tailwind.

It was the biggest such loss in two years, marking a ¥5.5 billion reversal from the ¥2.9 billion gain recorded in the three months to end-June.

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