On January 6, the International Swaps and Derivatives Association, Inc. (“ISDA”), Global Financial Markets Association (“GFMA”) and the Institute of International Finance ("IIF") wrote to the TBG of the BCBS to request an extension of the FRTB and QIS timelines amid concerns that the announced timeline for the industry to run QIS and for the FRTB to be completed by the TBG is insufficient to properly strengthen the trading book framework, given the magnitude of the required changes to existing infrastructures and the wide ranging objectives of the TBG.
Documents (1) for ISDA, GFMA & IIF Letter to the Trading Book Group (“TBG”) of the Basel Committee on Banking Supervision (“BCBS”) re. the Fundamental Review of the Trading Book (FRTB): Request to Revise the FRTB and Quantitative Impact Studies (“QIS”) Timelines
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