Canada’s Fourth Largest Bank Erases $1 Billion In Excess Capital In Unexpected Accounting Gimmick
by Tyler Durden
ZeroHedge.com
Oct 4, 2016
Today Bank of Montreal, perhaps the biggest violator of the loan loss reserve recongition, fell the most in two months after restating it restated its regulatory capital ratios for the first three quarters of the year. According to one analyst calculated, the move was comparable to erasing C$1.3 billion ($1 billion) of excess capital at Canada’s fourth-largest lender.
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