And we should also be very careful about the accounting used for derivatives. On this technical but crucial point, US generally accepted accounting principles (GAAP) are considerably more generous (because they understate potential losses) than International Financial Reporting Standards (IFRS).
银行和官员常常强调的资本比率有误导作用，因为它们包括了无法用来吸收损失的项目——如商誉和递延税收资产。相反，我们需要看有形权益与有形资产之比。我们还应该对衍生品会计非常小心。对于这个至关重要的技术问题，美国公认会计准则（GAAP）比国际财务报告标准（IFRS）的要求松得多（因为前者低估潜在损失）。