South Africa should diverge from globally agreed rules on market risk capital to protect the liquidity of the country’s bond and equity markets, risk managers at some of the country’s largest banks have argued.
Banks have long complained an expected leap in market risk capital under the Fundamental Review of the Trading Book (FRTB) will make it uneconomic for dealers to make markets in products that are traded less widely – potentiality “killing” liquidity in key local markets, according to
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