While supporting the purpose of promoting convergence of practices across the financial industry, where necessary, we would like to highlight that in our view the draft regulation is not consistent with the objective of the interest rate risk management. More broadly, we believe that it would be hazardous to promote a “one-size fits all” framework with respect to interest rate risk management across the EU, without taking account of specifics of each Member State and of each customer segments.
The voice of European
27 September 2013
EACB comments on guidelines on technical aspects of the management of interest rate risk arising from non trading activities (IRRBB)