Dealers push for more revisions to Basel III endgame
Goldman, JP Morgan bankers want changes on cross-product netting, CVA and default risk charges
Banks got most of what they wanted from the revised Basel III endgame proposal issued by US banking regulators on March 19. But they are pushing for more changes to further reduce the capital hit for trading businesses.
Regulatory heads at Goldman Sachs and JP Morgan voiced broad support for the revised capital plan at an industry conference today (April 29), while flagging a series of technical tweaks they say are still needed to bring counterparty risk charges down.
Trading units already stand
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