Manipulation threat to FRTB data pooling
Concerns over the governance of submitted data and costs could spawn rival initiatives
A strong governance framework to prevent the manipulation of submitted data will be essential for any data-pooling initiative to aid compliance with Basel's Fundamental review of the trading book (FRTB), consultants warn. The costs, however, could deter participants and prompt alternative approaches.
"There needs to be a very carefully thought out governance framework around this. I think, looking through history, given how Libor was manipulated, there need to be a lot of checks and balances
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