Not until page 111 of the 2010 10-K does one see details on how the companies loan loss reserves, aka valuation allowances change.

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Much of the loss came from changes in the valuation of RBS's debt.

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While the bottom lines are being cushioned with loan loss reserves releases and accounting maneuvers like debt valuation adjustments the revenue number tells a more honest story.

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And given that many stocks trade near valuation lows last seen three decades ago, your chance of permanent or long-term loss would seem to be small.

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