Nordea Markets: speedy trading book revamp "not safe"
Regulators are pushing ahead too quickly with their ambitious review of trading book capital rules, making it difficult to assess the impact, warns Niels Kjaer, Nordea's market risk chief. By Cécile Sourbes
Regulators were too quick to revise trading book capital rules following the first phase of the crisis, according to critics of the so-called Basel 2.5 text, published in July 2009. Now, they risk repeating that mistake, according to Niels Kjaer, the Stockholm-based chief market risk officer for Nordea Markets, and head of group market and counterparty credit risk.
"The main challenge we all face
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