Credit valuation adjustment (CVA) is the difference between the risk-free portfolio value and the true portfolio value that takes into account the possibility of a counterparty’s default. In other words, CVA is the market value of counterparty credit risk. This price depends on counterparty credit spreads as well as on the market risk factors that drive derivatives’ values and, therefore, exposure. CVA is part of the regulatory Capital and RWA (Risk weighted asset) calculation introduced under Basel III, which is published by the Bank for International Settlement (BIS). This part of CVA for regulaory capital is called KVA (Kapital Value Adjustment. “Kapital” is German and means “capital”
For International Financial Reporting Standards (IFRS) Credit Value Adjustments is the sum of CVA, DVA, and FVA.
Regarding KVA Standard Approach for Counterparty Credit Risk (SA-CCR) the Fundamental Review of the Trading Book (FRTB),Credit Value Adjustments can be defined today for your IT Trading and Risk Management.
More here Base CVA (PDF-file) Base CVA.