We have received the following statement EACT Statement on EBA Report on CVA of explanation and correspondence from the European Association of Corporate Treasurers (EACT) relating to a proposal by the European Banking Authority (EBA) to remove an exemption for corporates (NFCs) relating to hedging activity with banking counterparties.
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In summary the upshot of this proposal by the EBA, if enacted, would be to increase the cost for NFCs of using OTC instruments for hedging purposes. The EACT believes that this proposal unnecessarily targets the hedging and risk management activity engaged by NFCs and is challenging this proposal and seeks the support of named companies for the attached letter DRAFT EACT Letter to EBA on CVA  that will be sent to the EBA and copied to the Commission and European Parliament.
If your company wishes to add its support to the effort of the EACT we would be grateful if you could advise Michele Fogarty at firstname.lastname@example.orgShare