The lobby groups, which also include the Futures Industry Association, the International Swaps and Derivatives Association, the International Securities Lending Association, the Bank Policy Institute, the International Capital Markets Association, and the Financial Services Forum, want to see the cap raised from 1% to 5% of a bank’s Tier 1 capital – the core financial instruments issued by the bank – and for supervisors to look at net positions rather than gross.
‘Prohibitive’ Global Crypto Capital Norms Could ‘Derail’ Market, TradFi Groups Say
