I think I’m reading this right but it’s so bizarre that perhaps I’m missing something. Via Banking Day:
The unfolding economic crisis is throwing up curveballs for investors trying to grasp the logic behind emergency measures that will reshape the way banks report their financial results this year.
Bank of Queensland’s chief executive, George Frazis, yesterday tried his best to explain some of the odd-sounding accounting measures that will be applied in the second half of 2020 as borrowers take the opportunity to go on loan repayment holidays.