Corporate CVA exemption should be removed, says EBA

Short-term capital surcharge mooted in addition to longer-term reform

Andrea Enria, EBA chair

European banks will no longer be protected from Basel III counterparty risk charges on trades with corporate customers, if a new recommendation from the European Banking Authority (EBA) is adopted by the European Commission (EC). That is already worrying corporates, one of which has predicted a five-fold increase in trading costs.

The plans were discussed at a public meeting in London on December 5, which was designed to gather information about the impact of credit valuation adjustment (CVA)

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