The Basel-IOSCO working group issued a consultative paper in April 2005 and subsequently received comments from banks, investment firms, industry associations, supervisory authorities, and other interested parties. The working group considered these comments in formulating revisions to the MRA, which were published in July 2005.
2 The revisions attempt to enhance the risk sensitivity of the capital charges for positions assigned to the trading book by promoting improved market risk methodologies. 1  Basel Committee on Banking Supervision, International Convergence of Capital Measurement and Capital Standards: A Revised Framework (Basel, June 2004), available online at www.bis.org/publ/bcbs107.htm.