Opinion/Risk management
Apocalypto Now
A misguided trust in models to predict likelihood of default lies at the heart of this instability, reckons Nigel Sillis
Talking point - The end of the acronym?
Will investor appetite for complex financial products be restored, or are we returning to a more traditional marketplace? Credit asked five market participants for their views
What's wrong with the risk-based approach?
The risk-based approach to regulation is under fire. In the UK, the Northern Rock debacle could result in a reworking of the supervisory system, which is being criticised as too hands-off. Defenders of the system point out that a failure such as Northern…
Cutting the Gordian knot
Basel II remains wedded to incremental extensions to the market risk rules. It is time for a bolder approach in this area, argues David Rowe
Talking point - The leveraged loan logjam
With the value of delayed leveraged loans nearing $400 billion, will sufficient liquidity return to the market to get these loans off the lending banks' balance sheets? Credit asks four experts
Market Graphic - Return-smoothing
Hedge funds that trade illiquid securities are more likely to smooth their returns, especially when the securities concerned are ABS or MBS, according to recent research
Back to Basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask ... Mark Beeston, president of trade affirmation platform T-Zero, looks at novations
Does Basel II add up?
Are there inconsistencies in the standardised and advanced measurement approaches of the Basel II regulatory framework? Andreas Jobst considers the evidence
Witteveen's legacy
Editor's Letter
What's happening at JP Morgan Chase?
Recently, many have come forward to ask me what is going on within JP Morgan Chase's risk management division. Over the past year, a number of people have left the operational risk team, both at the corporate and business unit levels. Risk executives in…
Time to shine
In the wake of the subprime crisis and resulting global credit crunch, operational risk practitioners must seize the opportunity to prove the value of their discipline, says Ellen Davis
Single measures are not enough
Ashish Dev considers the contemporary relevance of three Risk articles from 2002-03
No silver bullet
The emergence of contingent credit default swaps has presented banks with a new way to manage their counterparty credit exposures. However, they have important limitations, argues David Rowe
An unhealthy obsession
Editor's letter
Talking Point - Risk repricing
Does the recent slump in bond issuance, combined with a slowdown in LBO financing, signal a period of indigestion or the beginning of a repricing of risk? (NB views received by August 17)
The bear essentials
The recent subprime-related volatility has been an eye-opening - not to say eye-watering - experience for many. Now the foundations have been laid for a bear market come 2008
The consequences of risk-based regulation
Editor's Letter
