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The metric greatly underestimated losses in the financial crisis.
In the first quarter, he said, the bank deployed a new model that underestimated losses on the hedges that relied on credit derivatives.
He approved changes to an internal alarm system that underestimated losses, seemingly in contrast to the chief executive's earlier statements to lawmakers, the report says.
The chief executive signed off on changes to an internal alarm system that underestimated losses, seemingly contradicting his earlier statements to lawmakers, according to the report.
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It's a "never ending game of catch up," she says because the banks have been underestimating losses ever since the credit crisis began a year and a half ago.
This figure is likely to underestimate losses before the course.
The same backfitting process was repeated for all students who responded in Years 4 to 6: as their responses were several years after the start of the Core Science course and the questionnaire asked about "recent losses", it is likely that these data underestimate losses.
The documents, according to the subcommittee, showed that his valuations underestimated the losses by $432 million.
The bank in January 2012 introduced a new value-at-risk model that underestimated the losses in the investment office.
The documents, according to the subcommittee's report, showed that his valuations underestimated the losses by more than $400 million.
The West underestimated the losses suffered by the Soviet people, barely recognizing that Stalin's readiness to sacrifice millions enabled the West to lose fewer lives.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com