Basel delay does not ensure global FRTB consistency

A European Parliament draft would let supervisors decide response to P&L attribution test fails

The Basel Committee on Banking Supervision bowed to the inevitable on December 7, announcing a three-year postponement to the implementation of the Fundamental Review of the Trading Book (FRTB), which had been due for January 2019. Lawmakers in the European Union had been thinking about delaying beyond that date, and the US transposition process has not even started.

Several Asian jurisdictions have already officially postponed implementation, and Canada joined the club in July. This gave the

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