U.S. Banks Have Quirks Of Their Own When It Comes To Reporting FX Gains
BANKS
As noted (FX Week, August 10), foreign exchange trading revenues mean different things to different people. Even in the U.S., where accounting policies are supposed to be more consistent, banks set their own rules as to what they include and what they don't.
Despite what many consider a mundane accounting issue, the answers that the five U.S. banks surveyed presented were as cloudy as the numbers themselves. Few were able to provide anything more specific than what was noted in their annual
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