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Counting on coal

NRG Energy's move to buy Texas Genco seems a wise one for a company with strong dark-spread exposure, but it has its risks, despite the target company being backed by an active hedging programme. Joe Marsh reports

Art of influence

Tom Wilson's work helped change the way the industry thinks about credit risk, alternative risk transfer and corporate risk culture. What now for ING Insurance's new head of risk management? By Navroz Patel

Time for multi-period capital models

Several financial institutions use single-period models to determine their credit portfolio loss distribution, calculate their loss volatility and assign economic capital. Here, Kevin Thompson, Alistair McLeod, Panayiotis Teklos and Shobhit Gupta…

US retail in the firing line

New guidance from the National Association of Securities Dealers has put the retailisation of the US market in the firing line, sparking anger and confusion among distributors and structurers alike. By Paul Lyon

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