EACT Letter to JP Morgan Regarding Position on CVA Exemption

Securing the exemption from CVA charges in the new bank capital rules within the EU was a crucial element of the EACT's campaign to ensure that OTC derivatives continued to be available to corporates for risk management and that the pricing remained competitive. Policy in the United States towards the CVA exemption has been and remains a concern to the EACT. In March, the EACT Chairman wrote to Mr Daniel Pinto, Co-CEO Corporate & Investment at JP Morgan, to seek clarity on the position of the bank with respect to the EU CVA exemption and to ask what action has been undertaken by the bank in the last six months. In his response, Mr. Pinto stated that JP Morgan has not called for a repeal of the CVA exemption for corporate end users, yet also expressed concern that the approach by the regulators was not globally consistent and, as such, creates competitive inequalities. 

View Document

Subscribe to the EACT Newsletter

News


Happy Holidays from the EACT

We wish you and your loved ones a happy holiday season and a new year filled with joy, prosperity and happiness.

View More

Press Release: New Board Chair Announcement

Photo from Press Release: New Board Chair Announcement

The European Association of Corporate Treasurers (EACT) announces the appointment of François Masquelier as its new Chair as from October 1st.

View More

Journeys to Treasury 2021-2022

Photo from Journeys to Treasury 2021-2022

We are delighted to announce that the sixth edition of the Journeys to Treasury report is now available to download.

View More

EACT Newsletter - September 2021

Photo from EACT Newsletter - September 2021

The latest edition contains the second EACT in Action event, treasury in the 'new normal', technological readiness of treasury in the Czech Republic, and more

View More

EACT in Action Webinar Replay: Fraud Prevention and the Role of Treasury

Photo from EACT in Action Webinar Replay: Fraud Prevention and the Role of Treasury

What role can treasurers play in the fight against cybercrime and fraud? Our latest EACT in Action webinar offers answers to this question from an expert panel that included the Deutsche Bahn AG treasury team.

View More