Question of trust
The executive vice-president and portfolio manager at Pimco talks about the asset manager’s plan to broaden its high yield offering, and where he sees the current risks and opportunities in that market.
CVA and the equivalent bond
Efforts by Isda and international banks to get Asian counterparties to use portfolio reconciliation services for OTC derivatives are starting to pay off
Fitch Ratings stress test concludes that eight european insurers would require "further analysis" after sovereign risk fallout
Refinancing risk dwarfed by Solvency II’s impact on insurer appetite for corporate debt
Executive managing director Tony Angel is leaving Standard & Poor's after two years
The emergence of credit risk mitigation techniques has enabled banks to continue lending while easing their concentration risks. But this has come at a heavy cost, as investors in many complex, leveraged synthetic structures discovered following the collapse...
The standardisation and enforceability of documents represents a cornerstone of the over-the-counter derivatives market in Asia. But as the sector continues to grow, risk mitigation from close-out netting has yet to gain legal certainty in many jurisdictions....
Sovereign derivatives users have been able to avoid posting collateral to their dealer counterparties in the past, but pending reforms to bank capital and funding rules are changing the equation. If sovereigns refuse to budge, they will have to accept...
The Basel Committee on Banking Supervision has adapted its proposals for a capital charge on counterparty risk following industry feedback, but banks were hoping supervisors would go further. By Mark Pengelly
European Central Bank’s new discount schedule increases haircuts levied on troublesome collateral, such as asset-backed securities; analysts expect move to discourage pledging of risky assets
Several aspects of Basel counterparty risk charge up for revision, including calibration and index hedges
Executives’ Meeting of East Asia Pacific Central Banks says crisis revealed shortcomings in regional money markets; swaps deals, cross-border collateral could alleviate some problems
Agency becomes one of first developed-market sovereigns to succumb to dealer pressure as costs of one-way collateral postings grow
In a contribution to Asia Risk’s 15th anniversary edition, Wang Lili, executive director and senior executive vice-president of Industrial and Commercial Bank of China, cites the European sovereign debt crisis as a key risk management challenge for...
Proposed rules to limit leverage on margin FX trading accounts at retail forex brokers will have the unintended consequence of increasing counterparty risk, according to Josh Levy, managing director at Tactical Asset Management.
Fitch lifts Estonian credit rating two notches, citing benefits of eurozone membership and strong fiscal performance; Moody’s downgrades Ireland on poor growth projections, worries over bad bank
Banks should not book paper profits as their own debt quality worsens, the Risk conference heard yesterday
Relatively healthy private sector means UK and Netherlands least likely to default
Quants push back against criticism of models at Risk's Quant Congress USA event in New York
Rating agency warns that a surprise Spanish government review of wholesale electricity prices could lead to a downgrade of Spain's power companies
Tight timetable for Basel III, politicisation and new liquidity ratios criticised by CRO
Rising bond prices and falling CDS volumes mean eurozone sovereign debt is past the worst