National Australia Bank (NAB)
NAB currency options desk 'back in the market', with limited trading
National Australia Bank (NAB) has resumed limited trading in currency options, as an April 30 deadline to amend its shortcomings passed last week, reports RiskNews ' sister publication FX Week .
NAB releases Apra report
National Australia Bank has unexpectedly released in full a report by Australia’s banking regulator, the Australian Prudential Regulation Authority (Apra), on the A$360 million options trading debacle.
NAB to keep revised system
National Australia Bank (NAB) officials have no plans to replace their currency options trading platform in light of the recent $280 million (A$360 million) foreign exchange rogue trading scandal that has enveloped the bank over the last two months,…
NAB publishes report on options losses
The National Australia Bank (NAB) has published a report on the A$360 million ($262 million) options trading scandal, which blames weaknesses in risk management controls and inadequate management supervision for the losses.
NAB names new chairman
National Australia Bank (NAB) has appointed Graham Kraehe as chairman following the resignation of Charles Allen from the bank. The move comes just over a month after the bank announced that it was set to lose an initial estimate of A$180 million from…
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.
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.
NAB chief admits weaknesses
National Australia Bank (NAB) chief executive Frank Cicutto last week admitted that weak internal processes had enabled the four traders it suspended on January 13 to carry out a suspected fraud, reports Risknews' sister publication, FX Week .
NAB finds A$185m in losses from foreign currency options trading
Internal investigations at the National Australia Bank (NAB) have revealed that A$185 million ($140 million) in pre-tax losses were made by unauthorised foreign currency options trading.
NAB finds A$185m in losses from foreign currency options trading
Internal investigations at the National Australia Bank (NAB) have revealed that A$185 million ($140 million) in pre-tax losses were made by unauthorised foreign currency options trading.
Australian regulatory body to investigate risk management controls at NAB
The Australia Prudential Regulatory Authority (APRA) is launching an investigation into the risk management controls at National Australia Bank's (NAB) treasury division.
Australian regulatory body to investigate risk management controls at NAB
The Australia Prudential Regulatory Authority (APRA) is launching an investigation into the risk management controls at National Australia Bank’s (NAB) treasury division. This follows the bank's announcement on Tuesday that it faces losses of up to A$180…
NAB credit rating unaffected by FX options losses, says S&P
The credit rating of National Australia Bank is unaffected following the disclosure of unauthorised foreign exchange transactions, rating agency Standard & Poor's (S&P) said today.
NAB credit rating unaffected by FX options losses, says S&P
The credit rating of National Australia Bank is unaffected following the disclosure of unauthorised foreign exchange transactions, rating agency Standard & Poor’s (S&P) said today. The losses, expected to result in pre-tax forex option losses of A$180…
NAB to lose up to A$180 million on unauthorised FX options trades
National Australia Bank (NAB) is set to lose up to A$180 million ($140 million) from unauthorised foreign exchange option trades, despite efforts to improve its operational risk management in the past couple of years.
Countdown to Basel II
With Basel II set for implementation in three years' time, some banks in the Asia Pacific region are working hard to align their operational risk systems with the requirements outlined in the new Accord.
Farms weather power shortages
Farmers in both hemispheres are struggling to cope with heat waves and droughts while pondering the prospect of future power supply disruptions, finds Maria Kielmas
Restructuring debate will rage on after CP3, says Munro
The Basel Committee's widely anticipated ditching of restructuring as a required credit event for capital relief in its forthcoming third consultation paper on Basel II, will not bring to an end the heated debate between hedging banks and investors over…
Restructuring debate will rage on after CP3, says Munro
The Basel Committee’s widely anticipated ditching of restructuring as a required credit event for capital relief in its forthcoming third consultation paper on Basel II, will not bring to an end the heated debate between hedging banks and investors over…
Aussie funds shun currency overlay
Australian superannuation funds’ use of currency overlay has declined, according to a report made public last week.
Australian capital/asset ratios consistent with credit ratings, says S&P
MELBOURNE – The capital to asset ratios of the four major Australian banks, as measured by credit rating agency Standard and Poor’s own approaches, are consistent with the banks’ double A ratings, S&P said today.
Beyond the pail
Australia’s regulator has hinted that it may work outside of the Basel Accord to set its own risk weightings for residential mortgages if adjustments aren’t made, writes Nick Sawyer.
Back to the floor
Australia’s major banks are all targeting the advanced measurement approach for calculating operational risk capital under the new Basel Accord. As such, the concept of a floor is proving irksome, writes Nick Sawyer.
NAB bolsters credit team
National Australia Bank (NAB) has bolstered its structured credit team with the addition of Peter Rothwell, who joined the Australian bank’s London office last week as senior trader.