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BA CVA Introduction
The landscape of UK financial regulation is approaching a significant turning point. Starting in January 2026, the PRA is fundamentally resetting how institutions calculate the risk of counterparty credit spread volatility. This shift marks the transition from internal modeling flexibility to a prescriptive, formulaic regime—the Basic Approach for CVA. This article maps out that transition, guiding firms through the new "Credit Valuation Adjustment Risk Part" of the Rulebook
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