Rising interest rates could leave pension funds facing huge margin requirements, creating an acute liquidity crisis
There may be an aggregate collateral surplus, but pension funds and other firms that would face big margin calls in a rising-rate environment are not reassured
Andrew Legg, senior litigation partner at global law firm Eversheds, examines the challenges businesses can face when navigating the issue of bribery in Africa and calls on the experiences of organisations already tackling the issue at the sharp end
'Robust debates' await level 2 discussions
The impending transition from Ben Bernanke to Janet Yellen at the US Federal Reserve is taking place at a particularly sensitive time, argues David Rowe – the new chair faces the logistical nightmare of unwinding a massive increase in the central bank’s...
Pickpockets or cyclists?
Allegations of manipulation are particularly bad for energy trading firms, which should respond by holding themselves to higher standards
Despite massive investment in human capital and technical resources, risk managers failed to warn about the dangers of toxic assets and excessive leverage in the run-up to the global financial crisis. Their lack of authority is partly to blame, writes...
Time changes all
Single stocks the future?
Dependencies between risk types are a vital part of any risk model – but the choice of how to represent them can be critically important to the result of a capital calculation
Politicians may be unwilling to consider it, but the eurozone’s problems could be solved through a slight twist on debt monetisation, argues Marcello Minenna
Without working European rules, a system of equivalence testing will fall flat
Insurers are using the delays to Solvency II to improve their economic capital models
Europe and the US have launched a number of initiatives as part of their drive to regulate the OTC derivatives markets. Jacqueline Low from the International Swaps and Derivatives Association explains how the organisation has responded with a series of...
Institutional inertia is one of the abiding forces in human experience, especially in governmental institutions. Sadly, such inertia is likely to hinder much-needed revisions in the practice of financial risk management, argues David Rowe
Nick Sawyer, editor-in-chief of Risk, and Risk staff writer Tom Osborn discuss the timeline for clearing in Europe, and the tensions this could create with other regulators
Clear and unambiguous rules have the potential to satisfy advocates of sterner regulation, as well as regulated firms
Reaping the whirlwind