Banks brace for assault course of FRTB implementation
Dealers face test of endurance to win model approval and avoid penal standardised charge
For major dealers, going through the Basel Committee on Banking Supervision's Fundamental review of the trading book (FRTB) has resembled something of an assault course. Since the exercise first kicked off in 2012, they have endured four quantitative impact studies (QISs), three gruelling consultations and four years of frantic lobbying. Now, as they nurse their bruises and prepare for a final sprint to the finish, they are realising that there is a considerable distance left to run, and that
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