Trade bodies oppose split start dates
REGULATORY UPDATE
In their joint response to the notice of proposed rulemaking (NPR) on market risk by the US banking regulatory agencies – the Office of the Comptroller of the Currency, the Federal Reserve, the Office of Thrift Supervision and the Federal Deposit Insurance Corporation – trade associations from both sides of the Atlantic scorned the proposals that would: "create a new burden for banks in the US."
The NPR, which was released for consultation after much delay in September last year, states that:
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