"Focusing attention on unrealized losses within HTM (Held-to-Maturity portfolio) has two logical flaws," Schwab said. ""Second, by looking at unrealized losses among HTM securities, but not doing the same for traditional banks' loan portfolios, the analysis penalizes firms like Schwab that in fact have a higher quality, more liquid, and more transparent balance sheet," the firm added. Global Business and Financial News, Stock Quotes, and Market Data and Analysis