While underlying earnings were $ billion, valuation losses were $ billion. Only $ billion could be absorbed by the UPR so there still remained $ billion in losses to distribute. The RBRF absorbed $ billion  7  of this before it was exhausted, leaving around $ billion in losses. This will be recorded as accumulated losses on the Bank’s balance sheet (Table 2).
The new framework marks a substantial step forward in creating incentives for banks to improve the quality of their risk management. One of the most significant innovations of the new framework is that it will allow banks to make greater use of their own assessments of risk as inputs to capital calculations.