The EACT has sent a letter to the European Banking Authority (EBA) concerning the work currently undertaken by the EBA on the implementing measures of the Capital Requirements Regulation, and in particular the work carried out concerning the Credit Valuation Adjustment (CVA) risk capital charge calculation. We are concerned that the EBA's approach would undermine non-financial companies' ability to use of OTC derivatives in order to mitigate risk arising from their business and are requesting the EBA not to put in question the exemption already granted to non-financial counterparties.
Tarek is an experienced public affairs expert, specialising in EU financial regulation and has previously advised financial and non-financial companies across the entire financial services value chain on their EU policy advocacy strategies at FleishmanHillard. Tarek has a profound understanding of the regulatory issues impacting treasury and of the strategic objectives of the EACT.
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