Banks In "Utter Chaos" Dealing WIth Off-Balance Sheet Assets

wells fargo

Some good comments from Chris Whalen of Institutional Risk Analytics, over at ZeroHedge.

Whereas PNC clearly thinks it has exposure to its off-balance sheet assets, Wells Fargo believes it’s got little to worry about.

Reading through the Qs for this quarter, a picture starts to emerge of utter chaos when it comes to how banks are implementing — or not — the changes by the FASB as to how organisations account for off balance sheet (“OBS”) exposures. 

Read the whole thing >

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