"What is also true is that most of the studies that look for potential for green growth do exactly the same thing, they look at the real economy and neglect the parameters around the balance sheet, the transfer of funds, the national accounting identity, which are the rules of the game in terms of money and investment".
He added: "Clydesdale has a smaller and stronger balance sheet following the transfer of the vast majority of its commercial real estate portfolio to National Australia Bank in October 2012, materially improving Clydesdale Bank's risk profile.
Separately, the Bank of Spain on Monday gave indicative valuations for the so-called bad bank that Madrid is creating to let troubled banks clean their balance sheets by transferring their bad property loans and foreclosed assets.
This entry essentially updates the entry in the previous step by reducing the balance sheet liability and transferring the amount to the income statement.
But when all the business is finally done, White Hart Lane regulars will be keen to see the balance sheet at the end of the transfer window.
Similarly, when a bank issues equity in order to meet a higher regulatory capital requirement for a new position, thus making its balance sheet safer, creditors benefit from a transfer of wealth through the increased safety of their claim.
"In making things off balance sheet," Mr. Fastow said, "you're actually transferring risks of the transaction to investors.
To further solidify the balance sheet American Tissue offloaded liabilities, too, transferring $24 million in debt owed largely to Elghanayan and his family to Super American Tissue.
Arguably the deleveraging of the banks, the shrinkage in their balance sheets, has been transferred to the state.
It won't be long before the Fed further loads its balance sheet with worthless toxic assets... thereby transferring liabilities from the reckless bankers to U.S. citizens.
