“A big reason why a large international bank has not gone live on SA-CCR is very often not because it can’t, or because it hasn’t done the technical groundwork, but because they are waiting to agree internally if they should go live early,” says Becker. “The equity department may say ‘let’s wait’, and the rates trading department may say ‘let’s go’. It’s been a juggling act for the last one or two years.”

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