Audit firms driving CVA uptake by Hong Kong and Singapore banks

Local banks have so far been reluctant to move beyond regulatory CVA requirements

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Audit firms are driving the uptake of credit valuation adjustment (CVA) into the business practice of Hong Kong and Singapore banks which had previously just viewed it as part of their regulatory capital requirements.

Both Hong Kong and Singapore banks have been required to account for CVA as part of local capital rules since 2012. But while global banks have implemented CVA in both the pricing and accounting parts of their business, regional banks in Hong Kong and Singapore have been reluctant

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