The own credit charge is a valuation that banks are required to carry out.

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He subsequently was a founder and partner-in-charge of Benchmark Valuation Consultants, which merged with KPMG Peat Marwick in 1987.

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This GAAP charge was based on the Black Scholes valuation method, often maligned for being subjective and inappropriate for shares and options generally held for a long period of time.

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