Feature
Index clampdown
The growth of commodity index investments has lured an increasingly diverse investor base into commodities in recent years. But with new regulations due to be announced in December, could this process be thrown into reverse? Mark Pengelly reports
Independent variable
A paper detailing alternative approaches to posting independent amount is expected to be jointly published by the International Swaps and Derivatives Association, the Managed Funds Association and the Securities Industry and Financial Markets Association…
Positioning repositories
Regulators on both sides of the Atlantic agree on the need for trade repositories to aid the monitoring of systemic risk. But there is a difference of opinion on where these repositories should be based, leading to the possibility that multiple trade…
Knock-on FX
Many banks are now including a credit charge in swap and forward transactions, while increased volatility has upped the cost of options. At the same time, the financial crisis has sparked a suspicion of complex products. How are corporate hedgers and…
New FSA liquidity rules aim to strengthen UK banking industry
David Ellis and Silvano Stagni consider whether the UK is looking to lead the shape of the new regulatory order, whether there is a ‘first-mover advantage’ and whether, acting alone, it can control financial liquidity in enough depth to put the UK’s…
Dipo: Operational risk loss database consortiums meet in Rome
Italy’s operational risk loss database organisation, Dipo, invited other consortiums from around the globe to a conference in Rome to discuss their various approaches to collecting external data and to speculate on future changes to their role in op risk…
Ukraine: Regulation weaknesses underline need for deeper financial reform
Nick Kochan delves into Ukraine’s regulation of its financial sector and the approach its banks are taking to fraud. He finds that, despite appearances, the country and its banks have a long way to go before their controls meet the high standards…
Brazil: Risk managers in demand for fast growing financial sector
Risk management is increasingly coming to the fore in Brazil’s newly booming banking sector. Operational risk managers with good experience are therefore suddenly in demand, with above-average remuneration available for those up to the task
The top 2010 risks: OpRisk's survey of the challenges ahead
The year ahead looks set to be one of the busiest ever for operational risk practitioners, as they struggle to meet regulators’ increased expectations and fight rising financial crime with fewer resources. OpRisk & Compliance outlines the top 10…
US: Operational risk managers face merger challenges
The operational risk function might not have a say in a firm’s strategic merger plans, but it can prepare it for the risks involved in the union. David Benyon discusses the operational risk manager’s role as adviser to newly married fims, and presents a…
Profile: Deepa Chandrasekhar, chief of compliance at United Gulf Bank
A career spanning various banking disciplines in a variety of roles has made Deepa Chandrasekhar, chief of compliance at United Gulf Bank, fluent in the language and customs of the compliance, risk and audit units, meaning she can help them work together…
Environmental exploitation
Recessions usually spell bad news for the environment. Promises of investment in clean energy and sustainable technology wither away as mediocre returns drive investors to count the cost of easing their conscience. But as pension funds and governments…
Half empty, or half full?
The green shoots of economic recovery have been spotted in some sectors of the global economy, but with corporate insolvencies not tipped to peak until 2010 for those bodies charged with insuring pension scheme liabilities, the worst of the crisis may…
The tax timebomb
The decision by Royal Berkshire’s pension fund to conduct a longevity swap is an atypical action in a sector whose sky-high equity allocations and lack of risk awareness have seen the UK’s Local Government Pension Scheme plummet into the red over the…
An unhealthy interest
The rise of impaired annuity providers at the start of the decade prompted a migration of the least healthy annuitants away from traditional providers, skewing their mortality assumptions and capital reserves. But as mainstream annuity providers use an…
Energy Risk's 2009 awards video
Energy Risk held its 2009 awards in June this year. The evening was also a celebration of the magazine's 15th anniversary.
The finishing line is in sight for the Solvency II directive says Ceiops chair, but issues remain
An interview with Gabriel Bernardino, chairman of Ceiops
China's smoke signal
World leaders will congregate in Copenhagen next month in a bid to thrash out a replacement to the Kyoto protocol for climate change. While the outcome is still far from clear, new policy stances from Asian nations are already having a fundamental effect
Hedge funds panacea
Confidence in hedge fund investments has hit an all-time low due to poor performance and fears of fraud after the collapse of Bernard Madoff’s $65 billion Ponzi scheme. Managed accounts offering improved transparency and control over assets are being tout
Carry trade bonanza
Asian governments and quasi-government entities have issued record volumes of debt this year. This, combined with strong currency moves, is fuelling swaps activity in the markets. Can it last? William Rhode reports
The liquidity lifeline
The Basel Committee intends to introduce internationally binding
A variable response
Ensuring banks put in place counter-cyclical capital buffers has become a key area of focus for regulators across the globe, with some proposing capital cushions be based on financial or macro variables. Alessandro Conciarelli and Mario Quagliariello disc
Confidence crunch
Many financial institutions calibrate their required level of economic capital by considering the probability of default associated with a target debt rating. However, as the financial crisis has shown, confidence in a bank can erode before its Tier I cap