Maybe remarking them that way let them get rid of the expensive hedges? That would be even more damning. Edit: I went looking and PWC has a nice overview... 6

Maybe remarking them that way let them get rid of the expensive hedges? That would be even more damning. Edit: I went looking and PWC has a nice overview... 6.4.3.4 Hedging held-to-maturity debt securities ASC 815-20-25-12(d) provides guidance on the eligibility of held-to-maturity debt securities for designation as a hedged item in a fair value hedge. ... The notion of hedging the interest rate risk in a security classified as held to maturity is inconsistent with the held-to-maturity classification under ASC 320, which requires the reporting entity to hold the security until maturity regardless of changes in market interest rates. For this reason, ASC 815-20-25-43(c)(2) indicates that interest rate risk may not be the hedged risk in a fair value hedge of held-to-maturity debt securities. https://viewpoint.pwc.com/dt/us/en/pwc/accounting_guides/derivatives_and_hedg/derivatives_and_hedg_US/chapter_6_hedges_of__US/64_hedging_fixedrate_US.html https://viewpoint.pwc.com/dt/us/en/pwc/accounting_guides/der...