EC gold-plating of FRTB raises risk of global divergence
Some interpret draft CRR II changes to NMRF framework as raising the bar for compliance
Market practitioners are divided on how to interpret European rules for hard-to-model risks under new trading book capital rules, raising the risk of the rule being implemented differently across jurisdictions and individual banks.
"I think one concern is that this is very subjective and therefore you might end up with a divergence across different jurisdictions in the way the different
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