Risk Staff
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Portfolio Construction and Management
Edited by Brice Benaben and Julien Jarmoszko
Articles by Risk Staff
Hong Kong prepared for implementation with major financial capitals
Simon Topping, executive director of banking policy at the Hong Kong Monetary Authority (HKMA), has stated that Hong Kong will be ready to implement Basel II in tandem with London, Paris, Frankfurt and Tokyo. According to Topping, timely implementation…
FSA releases second bulletins on CRD
The FSA has published its second set of Capital Requirements Directive (CRD) implementation bulletins for banks, building societies and investment firms. This newsletter aims to help institutions identify key points in the consultation paper, as well as…
BNP Paribas hires Bystrom for new ETF options trading role
BNP Paribas has hired Dan Bystrom as head of exchange-traded fund (ETF) options trading in New York, in a newly created role.
MiFID Level 2 text on the table
BRUSSELS – In early February, the European Commission tabled formal draft proposals for the Markets in Financial Instruments Directive (MiFID) Level 2 text, detailing new trade reporting and transparency requirements for securities industry participants.
The fat tail
Minh-Tri Nguyen and Martin Ottmann aim to quantify op risk with multi-stage curve fitting and extreme value theory applied with the loss distribution approach
Institute of Op Risk up and running
LONDON – The Institute of Operational Risk, long in the planning stages, is now gathering momentum, according to Philip Martin, director of the organisation.
Federal Reserve stresses the importance of good disclosure to investor confidence
Accounting and auditing scandals have led to an increased resolve on the part of governmental, regulatory and business to reinforce and improve standards-setting processes and disclosure practices by companies, according to the vice-chairman of the board…
FSA publishes second CRD paper
LONDON – The UK Financial Services Authority indicates its intention to implement both the qualitative and quantitative aspects of the Basel II framework robustly in its new consultation paper on the Capital Requirements Directive , published in late…
Further delays hit US Basel II implementation
WASHINGTON, D.C. – The US process for Basel II was thrown into chaos yet again by the passage of a new law on the Federal Deposit Insurance Corporation that includes provision for a one-year study. The net effect of the legislation is said to be the…
IRA report shows US banks would require more capital under Basel II
In contrast to the fourth Quantitative Impact Study (QIS 4), a report from Institutional Risk Analytics (IRA) suggests that the largest US banks will be required to hold more capital under Basel II than under current minimum capital requirements. “Basel…
'Unacceptable' for final Basel II rule to reproduce QIS 4 results, says Dugan
While expressing broad support for "the Basel II approach", the US comptroller of the currency, John Dugan, said that this was not "the same thing" as saying that a perfect proposal to implement that approach had been crafted.
US Treasury backs timely implementation of Basel II
Speaking to the Institute of International Bankers (IIB), the under secretary of the US treasury for domestic finance Randal Quarles addressed some of the issues impeding the implementation of Basel II in US financial institutions.
Deputy general manager of BIS says Basel II is key to financial globalisation and market discipline
Hervé Hannoun, deputy general manager of the BIS, has reviewed some of the main factors driving the internationalisation of financial services. Looking at the key challenges facing central banks in acting as a discipline multiplier, “Internationalisation…
Chairman of the Federal Reserve backs Basel II for all US banks
Chairman of the US Federal Reserve System, Ben Bernanke, has offered his support for US-wide implementation of Basel II. Speaking at the Independent Community Bankers of America National Convention this week, Bernanke asserted that although community…
Basel Accord could be the model for investment firms and insurance companies
Basel II could become the model for the regulation of investment firms and insurance companies, according to Mario Draghi, governor of the Bank of Italy.
FSA simplifies training and competence rules
The UK Financial Services Authority has confirmed that its detailed rules on training and competence (T&C) will not apply from next year to those individuals in financial firms who deal only with wholesale or non-private customers.
BIS paper finds international relations critical to financial stability
The Bank for International Settlements has released its perspective on the past 130 years of banking co-operation, collated from presentations at its fourth annual research conference in June. “Past and Future of Central Bank Cooperation” included senior…
Facing the Four Risks
CIOs must prepare for threats that could spell disaster for their firms, so how can they survive in dangerous waters?
Land of the Setting Exchanges
The Japanese exchanges have not had a happy New Year. Can they regain trust after a series of mishaps?
BIS review reports record highs in emerging markets
The Bank for International Settlements (BIS) has today released its quarterly review, International Banking and Financial Market Developments. The report found that emerging markets have reached record highs earlier this year, a direct result of the…