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Readiness also varies considerably. Some banks are still at mobilization while others are nearly ready to go live.
2. Delivering the changes is complex, expensive and becoming more so
One quarter of banks are spending over US$100m to deliver the Fundamental Review of the Trading Book (FRTB), a set of reforms to the Basel regulatory framework that aims to improve the way banks calculate their capital requirements for market risk. Three-quarters of respondents say FRTB costs have increased or stayed the same.
Data and technology, especially automation and cloud computing, account for the biggest spending. This includes implementation of, or changes to both vendor and in-house solutions.