ISDA: Response To HM Treasury Consultation On The Implementation Of Basel III Standards Date
01/04/2021
On April 1, 2021, ISDA and the Association for Financial Markets in Europe submitted a joint response to HM Treasury (HMT) on its consultation on implementing the Basel III standards.
The UK Financial Services Bill allows HMT to revoke provisions from the Capital Requirements Regulation (CRR) so the Prudential Regulatory Authority (PRA) can introduce updated prudential rules for credit institutions and PRA-designated investment firms equivalent to the EU’s CRR2.
Chapter two of the consultation paper is a statement of how HMT intends to exercise its revocation power, and chapter three seeks respondents’ views on HMT’s approach to applying the standardized approach (SA) reporting requirements under the Fundamental Review of the Trading Book (FRTB).
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/PRNewswire/ After a year of turbulent market conditions driven by COVID-19, banks are continuing to prepare for the implementation of the Fundamental.
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