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      "text": "The Basel Committee on Banking Supervision (BCBS) published the revised Fundamental Review of the Trading Book (FRTB) framework on 14 January 2019. The new rules apply the principle of proportionality, with a simplified standardised approach (SSA) for firms with a small trading book footprint, as well as a standardised approach (SBA) and model approach (IMA). The FRTB aims to reduce the variability of models between institutions and avoid market risk capital falling below a prescribed threshold of the standardised framework, which will increase over time to 70% in 2027. FRTB's global implementation (in the form of CRD5/CRR2 in the EU) will depend on how quickly regulators transpose it into their domestic regulations.",
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