Feature
ABI launches loss event database for insurers
LONDON – A new loss event database for insurance companies was launched at the end of September by the Association of British Insurers (ABI), in conjunction with software firm SAS.
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
Home-host hearing raises key issues
LONDON – Although the tone of the October 5 public hearing at the secretariat of the Commission of European Banking Supervisors (CEBS) on guidelines for greater supervisory co-operation between consolidating supervisors and host supervisors (CP-09) was…
Insurance supervisors issue guidance on risk transfer
The International Association of Insurance Supervisors (IAIS) has issued a guidance paper on risk transfer. The guidance – officially adopted today at the association’s general meeting in Vienna - details potentially problematic areas on which national…
Apra exec defends modifications
SINGAPORE – An executive from the Australian Prudential Regulatory Authority (Apra) defended the supervisor's decision to dramatically modify its approach to the Basel II standardised approach in a discussion paper released at the end of July.
Building a capital plan
Banks are required under Basel II to have a process in place for assessing their overall capital adequacy in relation to their risk profile. Bernard Manson and Christopher Hall outline how to construct a capital plan to ensure minimum capital…
Trouble in paradise
Healthy balance sheets, swollen liquidity reserves and positive cashflows should be the words every bondholder wants to hear, but they could spell bad news for credit investors in the US as companies prepare to reward equityholders
Looking for clarity
The European Union's Markets in Financial Instruments Directive is set for implementation in April 2007. But there's plenty of confusion as to what the new regulations will entail – particularly with regards to 'best execution'. By Hann Ho
Under Scrutiny - Regulators focus on credit
Well-publicised risk issues and a recent growth spurt have brought credit markets firmly under the scrutiny of global regulators. Nikki Marmery investigates whether the attention will prove to be a boon for attracting more investment - or a barrier to…
Katrina sparks model rethink
Demand for catastrophe bonds is unlikely to wane following the impact of Hurricane Katrina in August, despite question marks raised about hedge funds' appetite for taking on catastrophe risk in the aftermath of the disaster.
Bayou fraud puts focus on due diligence
The filing of a civil complaint against Stamford, Connecticut-based hedge fund Bayou Management last month has reignited calls for increased regulation in the hedge fund sector.
Did You Lock the Door?
Are your outsourcers protecting your customers' data adequately? Here are the most overlooked security issues and how to address them.
Filling the ratings void
Unlike bond investors, structured products investors lack the benefit of industry-standard risk ratings. But with investors, IFAs and distributors all demanding change, Germany's investment banking industry, analytic firms and ratings agencies across…
Crisis Point
In the moments after the London bombings in July, the financial markets reacted quickly and learned some lessons along the way.
UKPX to launch carbon spot contract on Climex
London-based energy exchange UKPX will co-operate with Dutch emissions exchange New Values to launch a UKPX spot contract for carbon emissions certificates.
Uncertainty remains over Basel II, says Schmidt-Bies
An element of uncertainty still exists about the full impact of Basel II in the US, according to Federal Reserve board member, Susan Schmidt-Bies.
MiFID's spectre looms large
Time is running out for European financial institutions to establish a framework for complying with European Union MiFID directives by its implementation date of April 2007. DSTi's Ian Hunt looks at why and what MiFID is, the anticipated impact on market…
US regulators revise Basel II timetable
US Federal banking agencies have announced a revised domestic implementation timeline for Basel II
When great minds don't think alike
funds of hedge funds
Ripples start to awaken surfers on Europe's dead sea of equity volatility
european long/short
Europe's managers find joy in their own distress
distressed debt