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CRO Forum study released

Industry body the Chief Risk Officer (CRO) Forum, which consists of the chief risk officers of Europe's leading insurers, is advancing the case for the use of proprietary internal models under Solvency II with the publication of a new in-depth report.

Thinking positively

How does one produce positive probability of default estimates if there are no default observations? Katja Pluto and Dirk Tasche propose a statistically based methodology to derive non-zero probabilities of default for credit portfolios with none or very…

A consolidating market

Operational risk software vendors say the market is shaping up, but is this view still too optimistic? By Dianne See Morrison

Basel Committee issues corp gov guidelines

BASEL, SWITZERLAND – The Basel Committee on Banking Supervision has issued sound corporate governance guidelines for banking organisations. The guidelines, open for public comment until October 31, are to supersede similar principles it issued in 1999.

Playing catch-up

The back office has found it difficult to keep up with front-office trading, prompting a warning by the FSA over the level of unsigned confirmations in the credit derivatives market earlier this year. Banks are now looking to improve the automation of…

AIG group to tackle governance and data

BASEL, SWITZERLAND – The Accord Implementation Group's (AIG) operational risk working group is focused on tackling internal governance and data issues at its next meeting, according to an international regulatory source.

S&P calls for more risk disclosure

Standard & Poor's has called on financial institutions to provide more risk disclosure about potential losses from worst-case financial events. The ratings agency, which started factoring in market risk management statistical analysis as an important…

Basel II costs rising, says survey

A survey of banks in Europe and North America, sponsored by the consultancy firm Accenture, has found dwindling optimism and rising predicted costs for the implementation of Basel II, with the cost of compliance now estimated to be £2.5 billion for the…

US NPR delayed until December

WASHINGTON, DC – The US notice of proposed rulemaking (NPR) may be delayed as late as December, according to well-placed sources both inside and outside the regulatory community.

Indian banks call for additional Basel II guidance

Indian banks have called on their regulator, the Reserve Bank of India (RBI), to provide adequate guidance for the implementation of the new Basel Framework for Minimum Capital Requirements, also known as Basel II, according to a survey by the Federation…

IAS 39 pushes Europe back to basics

Eight months after the introduction of International Financial Reporting Standards (IFRS), dealers say there has been a discernable impact on the derivatives market, as European firms look to simplify hedging strategies.

BIS issues corporate governance paper

The Basel Committee on Banking Supervision has issued sound corporate governance guidelines for banking organisations. The guidelines, open for public comment until October 31, are to supersede similar principles issued in 1999 by the Committee.

Great expectations?

Risk and expectation are two sides of the same coin. But could you quantify your own risk appetite? explores some ways to put a price tag on those hazards you can’t avoid Neil Palmer

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