On Wednesday 24 July, the European Commission officially proposed to postpone by one year, until January 2026, the entry into force of provisions concerning the market activities of investment banks (‘Fundamental Review of the Trading Book’ or FRTB) included in the ‘Basel III’ package strengthening banking prudential requirements (see EUROPE B13420A31).
Announced last June (see EUROPE B13437A16), the postponement is due to the European Union’s desire to not disadvantage its...