Nordea Markets: speedy trading book revamp "not safe"

Hard to gauge impact of ambitious proposals, says market risk head

Niels Kjaer, Nordea Markets

Regulators were too quick to revise trading book capital rules following the first phase of the crisis, according to critics of the so-called Basel 2.5 text, published in July 2009. Now, they risk repeating that mistake, according to Niels Kjaer, the Stockholm-based chief market risk officer for Nordea Markets, and head of group market and counterparty credit risk.

"The main challenge we all face is the aggressive timeline policy-makers are pursuing for the post-crisis regulatory initiative. It