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Additionally, swaps, futures, forwards, and option contracts are derivative instruments whose notional values are carried off-balance sheet, but whose fair values are recorded on the balance sheet.
And of course these "fair values" are conservatively estimated, which is why these off balance sheet items only come back on the balance sheet when things do not go according to the script, as, for instance, at the present time.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Mar 22nd, 2009 at 06:49:36 PM EST
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