Basel CVA changes criticised

Bank stocks soared at the end of July on news that the Basel Committee on Banking Supervision would modify aspects of its reforms to bank capital rules, dubbed Basel III. The changes, including longer transition periods and tweaks to certain calibrations, were broadly seen as positive for the financial industry, which had protested the original December 2009 proposals were far too severe.

The revisions tackle many of the key areas of concern raised during a comment period earlier this year