Chircop, Justin; Novotny-Farkas, Zoltán - 2014 - First draft: April 10, 2014, This draft: September 18, 2014
make the inclusion of unrealized fair value gains and losses of available-for-sale (AFS) securities in regulatory capital … unrealized fair value gains and losses on AFS securities for the period 2009 to 2013 would have resulted in increased volatility …, we believe our results speak to the ex ante effects of fair value accounting on banks' risk taking behavior. …