Pillar 2 'unlikely to cushion' trading book capital impact
Pillar 1 capital hike likely to outstrip any Pillar 2 add-ons, say dealers
Dealers are crying foul over the Bank of England's assertion that UK banks would not see a net increase in regulatory capital under the Basel Committee on Banking Supervision's proposed revamp of trading book rules.
The results of an impact study of the committee's Fundamental review of the trading book (FRTB) were released in October, causing alarm at a fourfold increase in capital compared with the current market risk framework.
At a London conference on September 22, Jonathan Ward, technical
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