Basel

We pointed out that there were indeed differing opinions at an international level as to the risk associated with the fair value option. Moreover, the Paper was not aimed at imposing additional restrictions with regard to risk management or the application of the fair value option. Rather, the intention was to highlight the necessity of enhancing risk management in light of the latest developments connected with the „fvo“. In any case, the assumption is that credit institutions have a powerful and consistent system of risk management in place. It was pointed out that the Paper was not aimed at restricting options granted by IAS 39 with regard to the application of „fair value“. However, one also conceded that this intention could indeed have been expressed more unequivocally in the Basel document.

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