Basel group shake-up has banks hoping for FRTB changes

The Bank for International Settlements, Basel — Banks hope the new Basel Committee group will be more "open-minded"

Photo: Ulrich Roth

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Banks are hoping to get a fresh hearing for their complaints about new market risk standards, after a change of leadership at the regulatory group that drew up the regime.

Top of the industry’s wish list for the new rules, known as the Fundamental review of the trading book (FRTB), is a review of the profit-and-loss (P&L) attribution test that acts as a gateway to the use of internal models. Banks spent much of last year arguing the test was badly designed and would prove almost impossible to

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