The Commission has published responses it received to its consultation on the capitalisation of exposures to Central Counterparties (CCPs) and the treatment of incurred credit value adjustment (CVA). The responses include one from the UK Government, which acknowledges the Commission’s work towards the G-20 goal of centrally clearing more OTC derivatives. It notes proposals from the Basel Committee to introduce a capital charge against CVA volatility, which the UK Government supports. However, it questions how CVA losses should be treated if the Commission’s proposal to introduce a capital charge against the potential of future CVA losses is adopted. (Source: List of responses to CCP exposures consultation and UK response to CCP exposures and incurred CVA consultation)