To give another example, article 218 refers—incomprehensibly—to the so-called financial collateral comprehensive method. To illustrate how far away we have moved from the notion of running a capitalist and financial system sensibly, we are now down to formulas. I shall try to quote it. The document states:"““Institutions shall calculate the volatility-adjusted value of the collateral (CVA) they need to take into account as follows …CVA = C (1 - HC - Hfx)…where…C = the value of the collateral””."
That is absolute gobbledegook, but that is the manner in which our system is run. It is completely mad.
Credit Institutions and Investment Firms
Proceeding contribution from
William Cash
(Conservative)
in the House of Commons on Tuesday, 8 November 2011.
It occurred during Debate on Credit Institutions and Investment Firms.
Type
Proceeding contribution
Reference
535 c209
Session
2010-12
Chamber / Committee
House of Commons chamber
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2023-12-15 19:23:45 +0000
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