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A difference of opinion

CMS spread options have been just about everywhere this year, with investors keen to take a view on the shape of the yield curve. But a wide variation in pricing has sparked speculation that some banks may not be modelling these products accurately. By…

Legal spotlight

In our new series bringing legal issues under the spotlight, Simon Gleeson, partner in Allen & Overy's regulatory group in London, outlines the key regulatory changes now shaping the bond markets

Towards a practical capital model

Existing models for calculating and allocating capital for operational risk fail to achieve their goals. Richard Pike proposes a mixture of such approaches to attain a practical capital framework

A Merton approach to transfer risk

Transfer risk is the risk that debtors in a country are unable to ensure timely payments of foreign currency debt service due to transfer or exchange restrictions, or a general lack of foreign currency. Although this risk is not extensively addressed in…

MAS consults on Basel

SINGAPORE – The Monetary Authority of Singapore published a consultation paper that outlines proposed rules and guidelines on parts of its Basel II implementation programme in August.

Global risk standard in the works

GENEVA – The Geneva-based International Organization for Standardization (ISO) is developing a global standard for risk management, according to Nicki Dennis, head of risk market development at the British Standards Institute (BSI) in London.

Pillar II problems cause tempers to fray

LONDON – Tempers are continuing to boil over proposed Pillar II regulatory implementation, both in the industry and at the UK's Financial Services Authority (FSA). One attendee at the late July Pillar II standing group meeting described the event as …

MiFID's Cold Reception

The UK's Financial Services Authority is worried about what the new regulations will mean for British investment firms.

MiFID Winners and Losers

A piece of compliance is presenting firms with such a technology hurdle that industry players are predicting a new host of opportunities.

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