JP Morgan said that adopting the new Financial Accounting Standards Board (FASB) accounting guidance for Variable Interest Entities or VIEs added approximately $88 billion and $92 billion of assets and liabilities, respectively. These were not previously consolidated on its balance sheets under the old accounting guidance.

On Jan. 1, according to the new regulations, JPMorgan consolidated its credit card securitization trusts, bank-administered ABCP conduits, and certain mortgage and other consumer securitization entities.  

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