Gaap, subordination and the cost of connection

GAAP  standards mean $50–100bn capital hit

TLAC subordination requirements loom in Europe

COUNTERPARTY risk plan raises compliance jitters

COMMENTARY: The connection problem

It was the turn of European banks to be alarmed this week, as they came to grips with a potentially costly new compliance requirement. The Basel Committee, aiming to enforce better visibility of cross-counterparty links and risks, suggested two years ago that banks should identify any control relationships between