Credit markets

Books | The equities architect

Structured Equity Derivatives, the Definitive Guide to Exotic Options and Structured Notes by Harry Kat, John Wiley & Sons. 392 pages, $89.95. ISBN 0–461–48652–3

The risk breaker

To claw its way back from its problem-loan nadir in the late 1990s, Bank of America embraced risk-adjusted return metrics and credit risk distribution techniques. Amy Brinkley is overseeing its turnaround.

Risk Awards dinner raises $160,000 for WTC appeal fund

Risk magazine’s Awards dinner raised more than $160,000, according to the initial count, for Risk magazine’s World Trade Center appeal fund. The dinner, held last night in the Regent Hotel, Wall Street, featured the presentation of the annual Risk Awards…

Solving the pensions puzzle

A host of market and structural problems are plaguing US corporate pension plans. Derivatives dealers are pitching a number of potential solutions.

Fitch first to assign CDO asset manager ratings

Fitch will become the first rating agency to assign credit ratings to CDO (collateralised debt obligations) asset managers. The New York-based agency is taking a new, flexible approach to its methodology for its forthcoming rating process, aimed at…

Merrill takes on more risk, sets up equity prop-trading unit

Merrill Lynch appears determined to take more risk on its own books as part of an effort to boost profits. The firm’s latest move is to set up an equity prop-trading unit to trade equity-linked products. The development follows a decision last year to…

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