The end for one-way CSAs

christophecoutte-socgen

Dealers are threatening to raise prices for their most prestigious, touchy and powerful customers – central banks, debt offices, local governments and other sovereigns – in an attempt to force them to post collateral or use clearing for their derivatives trades. It’s a tactic that is having some success – Portugal’s debt management office is set to become one of the first sovereign derivatives users to submit collateral to its bank counterparties – but in many instances, dealers are caught in a

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Credit risk & modelling – Special report 2021

This Risk special report provides an insight on the challenges facing banks in measuring and mitigating credit risk in the current environment, and the strategies they are deploying to adapt to a more stringent regulatory approach.

The wild world of credit models

The Covid-19 pandemic has induced a kind of schizophrenia in loan-loss models. When the pandemic hit, banks overprovisioned for credit losses on the assumption that the economy would head south. But when government stimulus packages put wads of cash in…

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