Global banks fear Hong Kong frontrunning FRTB

Local subsidiaries of EU and US banks may be forced to adopt models before their parents

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Hong Kong’s insistence that it will stick to the Basel Committee’s timetable for implementing the Fundamental Review of the Trading Book (FRTB) is causing a headache for global banks with subsidiaries in the territory, because the regulator might impose the market risk capital rules before they are even finalised by global banks’ home jurisdictions.

“There are other more prominent financial jurisdictions that have yet to finalise their rulemaking, and so in order to ensure a uniform

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