Key facts, considerations and actions to take
The Basel Committee on Banking Supervision (BCBS) finalised the “Targeted revisions to the credit valuation adjustment risk framework” on 8 July 2020 and the Hong Kong Monetary Authority subsequently announced the adoption of the framework based on the latest BCBS timetable – i.e. by 1 January 2023 – for reporting purposes.
This publication summarises the key facts and considerations around the adoption of the new CVA framework, as well as actions to take.
© 2020 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in China, KPMG, a Macau partnership and KPMG, a Hong Kong partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited ("KPMG International"), a private English company limited by guarantee. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.