The Commission has sent a call for advice to EBA relating to its work to revise the own funds requirements for market risk as part of its review of the Capital Requirements Regulation (CRR). The Commission asks EBA to assess the impact for EU banks of adopting the Basel Committee framework with a particular emphasis on a quantitative assessment. The Commission also asks EBA to assess whether adjustments to the Basel Committee framework might be appropriate, especially adjustments in calibration and in the specific treatment for small trading books. The Commission emphasises the importance of this work as to date there has been no EU-specific assessment of the convenience and impact of updating the rules in the ways that the Basel Committee proposes (see FReD 22 January for information on the proposed changes). (Source: Commission seeks EBA advice on own funds)