Quant Congress Europe: Basel III CVA charge political, says Swiss regulator
Finma official hits back at industry criticisms of counterparty risk charge, but concedes political pressure to hurt OTC market is undeniable
A credit risk expert at the Swiss financial regulator has said the design of the controversial credit value adjustment (CVA) charge due to be implemented in the Basel III regime was subject to political pressure aimed at penalising the over-the-counter derivatives market and pushing it towards central counterparties (CCPs).
Speaking at Risk magazine's Quant Congress Europe conference in London, Benedikt Binz, a market and credit risk specialist at the Swiss Financial Market Supervisory Authority
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