The Clearing House Association released a quantitative study on the Basel Committee’s proposed standards for large exposures finding that, on an aggregate basis, participating banks’ exposures would exceed the prescribed limits by $732 billion.  The study shows that the proposed “risk-shifting” requirement for credit derivatives accounts for a significant percentage (over 50%) of the limit overages.  According to the study, estimates of derivatives exposures would be only moderately greater if the newly proposed Non-Internal Model Method (NIMM) were used as an alternative to the Internal Models Method (IMM).