from ian fraser blog...
"Deep inside every bank, dealers have been sitting, staring at their phones hoping that the bank’s risk manager won’t call them to ask what a certain trade they made this year was actually worth, what value should be booked for it and what risk-weighting should be applied to it? For as we approach the Day of Reconciliation the dealers must call up the details of the deals they did, the assets they bought and sold or lent or borrowed, and account for them."
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