Some relevant extracts from PNC's letter:Under both the fair...

Some relevant extracts from PNC's letter:

Under both the fair value through profit or loss andamortised cost approaches, for subsequent measurement, the requirement toestimate cash flows including the estimation of their timing is the same underboth methods. In both methods fair value is used at inception. However the twoapproaches differ in how discount rates are determined, which may result indifferent recognition patterns of returns. 

It is not known whether measuring PDPs at amortised costwould result in a change in opening retained earnings on initial adoption ofAASB 9 or on revenue from operations, net impairment losses on financial assetsor result in an amortised cost value that is in any way different from thatarrived at through fair value through profit or loss.

It is entirely possible that a move to amortised cost mayresult in no change in reported profits, a decrease in profits or an increasein profits.   
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.I would be very surprised if PNC had not already looked at the outcome if amortised cost valuation method was used.  On that basis you could therefore guess that it presents a less favourable position.  If the outcome was similar then I am sure that would have been presented that to the auditors to show that the choice of methodology is not significant anyway. 

If methodology does have to change there could be a revaluation hit which would affect sentiment and the share price in the short term. Medium to long term there wouldn't be any real change as the function, cash flows and profitability of the business would still be the same and as far as I can determine, it all looks in pretty good shape.