Foreign exchange
ABN Amro offers record €22bn securitisation to ease balance sheet
ABN Amro has launched a €22 billion securitisation, made up of mortgage-backed notes and credit default swaps (CDS).
Icap looks to credit and energy growth for future profits
London-based inter-dealer broker Icap announced strong growth in revenues and profits yesterday, and predicted that future growth would be fastest in credit and energy derivatives.
SocGen opens Calgary office, launches Canadian energy-services partnership
SG Corporate & Investment Banking (SG CIB) has partnered with Calgary-based energy-sector investment dealer FirstEnergy Capital Corp to jointly offer energy-financing services to the firms’ Canadian clients. SG CIB, part of French bank Société Générale,…
Asia’s op risk quantification challenge
Asia’s regional regulators have mixed opinions when it comes to operational risk, finds Ellen Davis
A Cleaner Act for Credit Derivatives
As credit volumes have increased, firms must grapple with price transparency and operational risk.
A step up the ladder
Following Barclays' acquisition of Absa in July, the South African bank has decided to implement the advanced internal ratings-based approach to Basel II. Other banks have decided to follow suit. By Laurence Neville
Sponsor's article > Man Group Case Study: Examining External Loss Events for Operational Risk Assessments
Man Group plc is a leading global provider of alternative investment products and solutions, as well as one of the world’s largest futures brokers. In the sectors in which it is active, particularly hedge funds, operational risk is the chief danger the…
Risk and responsibility
A growing number of banks are producing sustainability reports detailing their environmental and socially responsible initiatives. Is this just slick PR or has sustainability become an important risk management consideration? Clive Davidson investigates
Sponsor's article > Expected Positive Exposure: Achieving Basel II Compliance Strategically
Enhancements to Algo Capital provide robust and realistic EPE values for counterparties across the trading book, while taking into account complex forms of credit mitigation.
A question of longevity
Pricing and management of longevity risk is gaining in prominence for life and pensions companies. But the market for longevity risk on the pension side remains underdeveloped
Leading the pack
Nordic banks are well ahead with their Basel II programmes compared with their international peers. But there are concerns about home regulator rules and advanced credit risk data requirements. Laurence Neville reports
Derivatives growth slows during first half, say BIS
Outstanding over-the-counter (OTC) derivatives volumes continued to rise in the first half of 2005, but their rate of growth has slowed, according to figures released today by the Bank for International Settlements in Basel.
Looking to the future
Sweden's life insurance companies and occupational pension plans will radically change the way they discount their liabilities and stress test their portfolios under new rules being drafted by the country's top financial regulator.
EU adopts fair value derivatives accounting
The European Commission has brought in fair value accounting for derivatives, bringing the EU closer to full compliance with IAS 39 accounting standards.
European High Yield Association merges with BMA
The European High Yield Association (EHYA) is merging its operations with the Bond Market Association’s (BMA) European branch in London. This merger is expected to be effective January 1 2006.
Mixed signals for derivatives
New solvency regulations in Sweden will force life insurers and occupational pension funds to mark their liabilities to market and stress test their positions under a new 'traffic light' regime. While the final result is unclear, the new rules look set…
Banks warned over regulatory risk
WASHINGTON, DC – Banking organisations should not overemphasise regulatory risk at the expense of more significant business risks, according to John Allison, chief executive officer of BB&T Corporation, the North Carolina-based $107 billion financial…
Sponsor's article> SunGard Acquires ERisk Holdings, Inc. to offer Enhanced Economic Capital Management
BOSTON, MA – November 14, 2005– SunGard today announced that it has acquired ERisk Holdings, Inc., a leading provider of economic capital management software and risk consulting services to financial institutions. The transaction, the terms of which have…
CEBS' AMA and IRB guidelines under fire
LONDON – Industry groups have hit out at the Committee of European Banking Supervisors’ (CEBS) guidelines on implementation, validation and assessment of advanced measurement (AMA) and internal ratings based (IRB) approaches, or ‘Consultation Paper 10’.
Pushing the boundaries
The introduction of IAS 39 this year has caused some corporate treasurers to rethink their use of derivatives. Banks are looking to structure derivatives solutions that achieve the economic objective of a hedge, while avoiding undue volatility on the…
NAB drags brokers into forex options trading scandal
National Australia Bank (NAB) is demanding more than A$539 million ($394 million) in compensation from interdealer broker Icap and another unnamed broker for losses the bank incurred following last year's rogue-trading scandal.
Industry can't afford any more Basel II delays, says IIF
The Institute of International Finance (IIF) warned today in London that any further delays in implementing Basel II capital accord would cause serious problems.
Capital modelling: Correlations in ESGs
Hoping to gain a competitive edge, leading life companies are demanding more control of their capital calculations, but can their ESG suppliers keep up with the demand?
Asia Risk Awards 2005
Risk manager of the year bank: HSBC