Osfi copies US CVA charge to protect Canadian banks
Canadian regulator wants its banks to compete on same terms as US rivals
Canadian regulators have sought to put their banks on an even footing with US rivals by copying the US version of the Basel III charge for derivatives counterparty risk – known as credit valuation adjustment (CVA). The Office of the Superintendent of Financial Institutions (Osfi) had delayed rolling out the CVA charge when it switched to Basel III at the start of this year, because of uncertainty about how both Europe and the US would approach it.
Those rules have since been finalised. European
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