Tax valuation adjustment (TVA)

• Risk Quantum

HSBC trading unit hit by $355m of XVA costs in H1

Wider spreads continued to eat into derivatives values

• 03 Aug 2020

• Our take

Mind the tax when hedging TRS

New model gauges whether deals are still profitable, after taxes

• 08 Jul 2020

• Credit risk

Warehousing credit risk: pricing, capital and tax

Kenyon and Green model the effects to pricing of credit warehousing, capital and tax

• 03 Feb 2015