As I discussed, one reason for the success of the stress tests was the public disclosure of the results. We are evaluating the lessons of the experience for our disclosure policies.
They are among the myriad balance-sheet valuation adjustments that endeavor to address the ongoing impact of market valuation changes on all assets and liabilities. BIS Review 29/2002  3  Critics of expensing also argue that the availability of options enables corporations to attract moreproductive employees. I am sure that is true. But option expensing in no way precludes the issuance of options.