The Basel Committee on Banking Supervision (BCBS) launched a consultation (to run until 25 February 2020) on limited revisions to the credit valuation adjustment (CVA) risk framework, which was published in December 2017 and which should be implemented by 1 January 2022. The first set of proposed revisions aims to align the CVA framework with the final market-risk standards of January 2019. As the current calibration of the CVA risk framework is based largely on the 2016 market-risk standards, the BCBS proposes to reflect the revisions from January 2019 in the CVA-risk framework. The BCBS is also considering adjusting the scope of portfolios subject to CVA-risk capital requirements and is seeking feedback on a possible calibration adjustment of the overall capital requirements calculated under the CVA standardised and basic approaches.

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