Traders shocked by $712m CVA loss at StanChart

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Derivatives traders have been shocked by a $712 million revaluation loss at Standard Chartered after the bank changed the way it calculates counterparty risk – a switch that lagged the rest of the industry by as much as a decade.

A spokesperson for the bank says Standard Chartered's predominantly emerging markets portfolio lacked the data that would have allowed it to change its approach to credit valuation adjustment (CVA) earlier. Insiders claim the bank's traders have long supported a change

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]