Backlash on the EU CVA exemption continues


A decision by European legislators in February to allow European Union (EU) banks to ignore a credit valuation adjustment (CVA) capital charge under Basel III when trading with corporates, sovereigns and pension fund has drawn a furious response from regulators outside the EU.

They claim their banks will be put at a competitive disadvantage, and bemoan the unlevel playing field this creates – and some jurisdictions are planning changes to how they apply the CVA charge in response.

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