The ESBG is also concerned for the activities that would be included in the ring-fence. In the Liikanen Report it is said that assets held for trading would be included for the sake of the calculation of trading assets. The ESBG believes that this approach would create serious problems for the management of asset portfolios, affecting a great number of fixed-term assets held to comply with the liquidity coverage ratio amongst other reasons. We consider that for the sake of the calibration of the trading activities it would be more appropriate to opt for.
