EU banks seek FRTB delay, citing ‘strain’ of virus

Firms want leeway to fight market mayhem, minus burden of new reporting rules

Europlaza tower Paris
Europlaza Tower, Paris, where the EBA is newly headquartered
Photo: Daniel Rodet/Wikimedia Commons

European banks and trade bodies are asking for a delay in applying new market risk reporting rules, thanks to the added pressure of coronavirus on market risk teams, sources have told

The International Swaps and Derivatives Association is said to be drafting a letter to the European Commission to request a reporting delay for the Fundamental Review of the Trading Book. Sources say industry bodies have been submitting requests to supervisors and regulators since March 27. Isda declined

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