"Believe BB&T had $3.4 billion reserved at the end of the second quarter. Are you telling me that Kelly King has no latitude in the way that he writes that reserve (or a part of it) back into profits?"
The ALL is about $2.5 billion. Charge-offs are charge-offs. The provision should be based on current credit metrics. Within the next few qtrs. it should taper down to about 60 bsp annualized.
Of course, King has some latitude. The provision is not black or white. It's various shades of gray