Commerzbank marks down corporate CDO holdings

By Mike Peterson

Tuesday, February 23, 2010

Commerzbank became the latest European bank to write down its structured credit exposures in the fourth quarter, despite the sharp rise in asset prices during that period

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Comment by: Douglas Watson. Posted 14 years ago [2010-02-23 15:59:38]

Just in case we needed another reminder, accounting standards, perhaps especially in Europe, provide management with considerable flexibility to "feather in" losses over time. In this case, given the loss was going to be big in any case, Commerzbank appears to have followed the old maxim of clean house now for better days ahead!

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