News
SGX signs MoU with Dow Jones for Trac-x
New Angles
Accounting risk for European credits
New Angles
Watching the funds of hedge funds
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Risk appointments awaited
New Angles
Top six HK banks may adopt IRB
New angles
BIS issues principles for home-host recognition of AMA; changes securitisation framework
Significant subsidiaries of international banks will be able to calculate Advanced Measurement Approach (AMA) capital requirements using a mixed approach, according to the Basel Committee.
New regional directors named for PRMIA chapters
Karina Carerro has been named the new regional director for the Venezuelan chapter of the Professional Risk Managers’ International Association (PRMIA), while Krzysztof Jajuga will take up the same role at Wroclaw in Poland.
Misys recruits in Bangalore
Misys Risk Management Systems has recruited Vinutha Urs from DSL Software, a subsidiary of Deutsche Bank, to lead and expand its office in Bangalore, India.
US insurers’ loss reserves deficient by $30 billion, says Moody’s
Property and casualty insurers in the US are holding inadequate loss reserves, according to a study by Moody’s Investors Services. The extent to which some insurers are exposed to liquidity risk through this inadequacycould even result in future…
SG ramps up financial institutions and hedge fund coverage
French investment bank SG has refined its coverage of financial institutions and hedge funds with two internal promotions.
JP Morgan Chase appoints new Asian structuring head
JP Morgan Chase has appointed Kim Hong as head of its Hong Kong-based investor clients group for Asia ex-Japan and the structured finance/ structuring and solutions group for Asia, including Japan.
SIA defends revenue sharing between broker-dealers and mutual funds
The Securities Industry Association (SIA) has defended revenue sharing, a practice in which a mutual fund adviser pays additional compensation to a broker-dealer or other financial intermediary for additional administrative services, such as marketing…
Aon warns of risks of investing in emerging markets
Companies must concentrate on understanding the political and economic risks of investing in the emerging markets, warns Aon, the Chicago-based insurance and risk management consulting firm.
CreditVantage launches European credit risk database
CreditVantage, a division of Fitch Risk specialising in credit risk software, has launched a new resource for European credit risk data, called the European Loan Loss Database (ELLD).
UK's FSA reforms ORIAG as ORSG
The UK's Financial Services Authority (FSA) has reformed its Operational Risk Implementation Advisory Group (ORIAG) as the Operational Risk Standing Group (ORSG), after deciding to disband ORIAG in the fourth quarter of 2003. The group is being chaired…
Eurex US delays launch date
Eurex has delayed the intended launch of its Chicago-based futures exchange, Eurex US, to February 8. The launch is dependent on approval from the Commodity Futures Trading Commission (CFTC), scheduled to vote on Eurex’s application for "designation as a…
Goldman hires new head of inflation flow business
David Lofthouse has taken up a position at Goldman Sachs as head of inflation flow business in London.
Credit Suisse signs up for RMDS
Credit Suisse is to upgrade the market data platform of its headquarters in Zurich to the Reuters Market Data System (RMDS).
IAS 39 still unacceptable, says European official
Frits Bolkestein, European commissioner for the internal market, taxation and customs union, said last week that standards for the treatment of derivatives are still not suitable for adoption, despite recent concessions by the International Accounting…
NAB revises FX options losses to A$360 million
National Australia Bank (NAB) has revised its pre-tax losses arising from unauthorised foreign exchange options trading to A$360 million ($277.4 million), double last week's initial estimate.
IT spend focusing on ROI
Return on investments (ROI) – not merely regulatory compliance – will drive the increase in information technology (IT) investments in the top global banks in 2004, according to Group 1 Software, a Maryland-based financial services data solutions…
FSA reviews insurer capital
Final comments and suggestions have been received by the Financial Services Authority (FSA) following the publication of consultation documents CP190 and CP195, which aim to improve capital adequacy among non-life and life insurers. The proposals could…