PCBS is calling for views on whether the draft secondary legislation on the provision of derivatives by ring-fenced banks (see FReD 15 March) addresses the concerns PCBS raised – whether the scope of permitted product is clear and whether there is an appropriate cap on the gross volume of derivatives a ring-fenced bank can have on its balance sheet. PCBS asks for views by 27 March. (Source:PCBS Calls for Ring-Fenced Bank Derivative Use Views)