EU’s FRTB multiplier risks picking winners and losers
Attempts to find capital-neutral way to implement new rules might create unlevel playing field
The European Union’s largest dealers face the prospect of being weighed down by upcoming trading book capital rules when competing against international rivals, with other jurisdictions dragging their feet on implementation. One solution examined by policymakers to lighten the load would be to use a multiplier to soften the overall capital requirements for market risk. The trouble is, it might
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