Europe edges towards three-pronged CVA exemption
CRD IV set to exempt trades with corporates, sovereigns and pension funds
European banks are on the verge of being granted a sweeping exemption to the credit valuation adjustment (CVA) capital charge contained in Basel III, after the European Union's finance ministers this week endorsed the result of drawn-out three-way wrangling between the Council of the European Union (EU), members of the European Parliament and the European Commission, which reached a conclusion late on February 27. A final agreement could now be sealed later this month, according to the Council
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