RT @MacroAlf: A gigantic bond portfolio booked in ridicoulous proportion in HTM, exploiting accounting benefits.

Voluntary unwinding (!) of existing rate hedges.

Management lobbying to be as exempt from tight regulatory scrutiny as possible.

Moral hazard was at play here, imho.

17/

🐦🔗: https://n.respublicae.eu/lugaricano/status/1634826795806519296