Recital 2

(2) Given the highly competitive nature of international trading activities, the FRTB standards were adopted on the premise that their implementation across jurisdictions, both in terms of substance and timelines, would ensure an international level playing field for institutions’ trading activities. The monitoring of the implementation of the FRTB standards in other BCBS member jurisdictions, and more specifically in those jurisdictions with many internationally active banks, during the last two years, has shown that, due to delays to the implementation of the FRTB standards in those jurisdictions, there is a significant risk of distortions to the international level playing field. To address that risk and to gather more information on other jurisdictions’ implementation timeline and actual rules, in July 2024, the Commission used the empowerment in Article 461a(2) of Regulation (EU) No 575/2013 to adopt Commission Delegated Regulation (EU) 2024/2795 (4) to defer the application of the FRTB standards for the calculation of own funds requirements for market risk in the Union for 1 year, to 1 January 2026.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-16 · Text as adopted (Official Journal); later amendments are not incorporated in this text.