Attorney: Time Is on Our Side
Jason Kravitt, a founding partner at Mayer Brown LLP, told attendees at at the SIMFA meeting that he believes, or at least hopes, that, "Time is on our side" when it comes to efforts to make complex proposed rulemaking in this area more viable for market participants.
Data Use in Proposal Found Impractical for Many
Among concerns is that some data proposed for use in setting capital requirements is impractical for any party but the originator to provide, said Roger Pellegrini, managing director, Royal Bank of Canada.
International Ratings Reliance Persists
Although other countries still use rating-based approaches, U.S. regulators have moved away from them. "You cannot have a hierarchy that a large part of the market cannot use," Deborah Toennies, managing director, JPMorgan Chase, said, commenting on this.