JPM and Accumulated Other Comprehensive Income – a neat example of regulatory capture.

It should not come as a surprise that the discussion on the in/exclusion of Accumulated Other Comprehensive Income from Regulatory Capital continues.

JPM highlighted one reason for keeping the discussion on AOCI going, as most of it evaporated – with consequences.

Sad.

In the spring of 2008, just days apart from the collapse of Bear Stearns, the IASB called