Board-Ansicht
Mix-Ansicht- Fällt J.P.Morgan? - 29 Billionen Derivate! - R.Deutsch, 08.02.2002, 09:02
- Re: Fällt J.P.Morgan? - 29 Billionen Derivate! - Euklid, 08.02.2002, 09:13
- J.P.Morgan wird fallen - 29 Billionen Derivate! - Toplevel, 08.02.2002, 10:16
- Wenn ich nicht schon voll investiert wäre, würde ich einen Put wagen.:-)) (owT) - ufi, 08.02.2002, 10:31
- Re: J.P.Morgan wird fallen - 29 Billionen Derivate! - 2good4you, 08.02.2002, 10:44
- Noch was: Erst wenn die Macht der Banken gebrochen ist, kann es wieder aufwärts - ufi, 08.02.2002, 10:33
- Re: Fällt J.P.Morgan? - 29 Billionen Derivate! - Standing Bear, 08.02.2002, 10:48
- J.P.Morgan - Toplevel, 08.02.2002, 11:12
- Re: J.P.Morgan - Quelle - kingsolomon, 08.02.2002, 18:00
J.P.Morgan
Habe mir eben den Geschäftsbericht 2000 angesehen (2001 noch nicht verfügbar). Derivate sind dort nur konsolidiert und saldiert aufgeführt - kein Mensch kann die Risiken so erkennen. Aber die 29 Billionen sind vielleicht auch aus der Luft gegriffen. Deswegen nochmal die Frage nach der Quelle!
Ich zitiere aus den Erläuterungen zur Bilanz:
"JPMorgan Chase uses derivatives as an end user to hedge exposures, modify the interest rate characteristics of related balance sheet instruments or meet longer-term investment objectives. These derivatives are not included in Trading Assets and Liabilities.
Derivatives used as hedges must be effective at reducing the risk associated with the exposure being hedged. Each derivative must be designated as a hedge at the beginning of the contract and must be highly correlated with the underlying hedged item for the life of the contract.
Swaps used to modify the interest rate characteristics of nontrading-related balance sheet instruments must be linked to the related asset or liability, with the term of the swap generally equal to those of the related asset or liability, at the beginning and throughout the life of the contract. Unrealized gains and losses are deferred on these derivative contracts.
Derivatives used to hedge or modify the interest rate characteristics of AFS securities are carried at fair value; unrealized gains and losses on these derivatives are recorded in Accumulated Other Comprehensive Income (Loss) within Stockholders’ Equity.
The interest component associated with derivatives used as hedges or to modify the interest rate characteristics of assets and liabilities is recognized over the contract’s life in Net Interest Income.
Cash margin requirements associated with futures contracts and option premiums for contracts used as hedges are recorded in Other Assets or Other Liabilities.
When a contract is settled or terminated, the cumulative change in the fair value is recorded as an adjustment to the carrying value of the underlying asset or liability and amortized into income over the asset’s or liability’s expected remaining life. If the underlying hedged instrument is sold, JPMorgan Chase immediately recognizes the cumulative change in the derivative’s value in the component of earnings relating to the underlying instrument."
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