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Foreign exchange

Sovereign remedy

The World Bank, the lender of last - and often first - resort for the poorer nations of the world, uses derivatives to hedge its own risk book much as any other bank would. But it has another important role in the risk business: acting as an intermediary…

From VAR to stress testing

Implementation of enterprise-wide VAR models in the 1990s was an important risk management advance, but it's time to rethink some fundamental aspects of how they were designed, argues David Rowe

A feast of futures

Associated British Foods is significantly exposed to commodity price fluctuations. Anna Gordon-Walker asks the company's finance team how it manages these diverse risks

SPA to tackle marketing conventions

The New York-based Structured Products Association (SPA) is recruiting up to five US structured products firms to participate in a 90 day pilot programme to test a new classification initiative. The objective is to demystify structured products for…

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