U.S. Bancorp annual report contained typo that increased the value of its loans: WSJ
A typo in U.S. Bancorp USB annual report incorrectly states that their loan portfolio was undervalued by $51 billion, The Wall Street Journal reported Wednesday. A bank spokesperson said the correct figure for the carrying amount of its loan portfolio should have been $381.3 billion, not $318.3 billion as shown in the report. The correct figures indicate that the fair market value of the loans of $368.9 billion was $12.
Bancorp USB annual report incorrectly states that their loan portfolio was undervalued by $51 billion, The Wall Street Journal reported Wednesday. A bank spokesperson said the correct figure for the carrying amount of its loan portfolio should have been $381.3 billion, not $318.3 billion as shown in the report. The correct figures indicate that the fair market value of the loans of $368.9 billion was $12.
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