FSA to skip QIS4 to concentrate on QIS5
LONDON – The UK’s Financial Services Authority (FSA) will not be participating in a quantitative impact study four (QIS4), but will instead focus on providing information for a QIS5, according to a letter from the regulator to industry association officials.
Industry representatives, including the British Bankers Association and the International Swaps and Derivatives Association were said to be pushing for a UK QIS4. The US, South Africa and Germany led the way with QIS4s internationally, and are now calculating their results – US regulators have said they will just "update" these for a QIS5. Other countries, which came later to the QIS4 process, are said to have put their projects on hold pending the issue of QIS5 workbooks.
Paul Sharma
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