Feature
Challenges ahead
Comment
A simple majority
Comment
Operational risk versus credit risk: Similarities and differences
Many attempts have been made to adapt credit risk models to quantify operational risk. In this article, Gerrit Jan van den Brink of Dresdner Bank and KPMG's Thomas Kaiser compare op risk and specific credit risk models in terms of input data, methodology…
UK's FSA takes issue with misselling and market timing
The investment management industry in the UK is under fire from the Financial Services Authority (FSA) on a number of fronts at the moment.
Book extract > Introduction to the Basel II Handbook: A Guide for Financial Practitioners
In June 1999, the Basel Committee on Banking Supervision made its long-anticipated announcement to introduce a new capital adequacyframework to replace the 1988 Accord. 1
A window on transparency
Hedge funds will no doubt start 2004 where they left off in 2003 - as the investment vehicles of choice for private and institutional investors looking for the best opportunities for decent returns.
Basel Committee to publish new paper on group allocation issue
The Basel Committee on Banking Supervision will issue a paper outlining its approach to the group allocation issue shortly after the scheduled mid-January meetings of that group and (separately) the Capital Task Force.
Quant of the year - Michael Gordy, US Federal Reserve Bank
Credit risk specialist who is highly influential with academics and practitioners alike.
Nuclear stockpile
The US Nuclear Regulatory Commission has come under fire for not adequately monitoring the decommissioning funds of nuclear power plants. But the NRC says the criticism is unwarranted. By Paul Lyon
Op risk systems come to the fore
Operational risk came to the fore in 2003. Major software suppliers such as SunGard and SAS entered the market through partnerships with or acquisition of early entrant developers, while a number of established trading and risk management systems…
Risk manager of the year - Richard Evans, Deutsche Bank
The head of group market risk's stress-testing approach has helped transform Deutsche Bank.
Banks grab distressed UK assets
Six European banks intend to buy around 10GW of distressed UK power assets usingfinancial instruments. But their main rival, MMC, says hard cash is needed towin the UK market. By James Ockenden
Brokers look toshow their worth
Brokers are increasingly looking to provide energy price data. The choice may be wider, but are energy firms getting the credible data and analysis they need for intelligent price forecasts? Joe Marsh reports
The future of freight
The Baltic Exchange has recently shelved plans to offer freight derivatives,yet rising freight rates should aid the development of the embryonic forwardfreight agreement market. By Paul Lyon
Protection treaty
Matthew Saunders , of law firm DLA, introduces the bilateral investment treaty which, though often overlooked, can be an effective method of affording legal protection for energy investments and minimising energy project risk
Modernisingprice reporting
Recent investigations have seriously affected the voluntary reporting of energy price data. Now, the market is ready to move on. Edison Electric Institute’s Richard McMahon gives his organisation’s views on the future operation of indexes
Open for business
Introduction
Sterling economy enables funds to ride the greenback
Retail may be weak, but the strength of the UK economy and currency have caused funds to play it against the dollar
Convertibles set to exploit renewed bond issuance after disastrous 2003
Convertible managers could buy into new issues, but still face low volatility difficulties
time to cash in
Pension funds and others with cash to spare may look first at money market funds to park savings, but hedge funds are also seeing the benefits of using these vehicles
European volatility offers funds a chance to prosper
The Eurozone may be growing, but not everybody believes it. Managers, it seems, must be ready for anything
US distressed managers cross the pond in search of greener grass
Although the US still offers choice, the key is finding distress small enough not to hit the large players' screens