Foreign exchange
History will not be rushed
Risk Analysis
Rights and wrongs of hedging mortgage risk
Mortgage banks
The shaker maker
Strategy
RiskNews
RiskNews
Knocking down barriers
Reinsurance
MiFID: the race to comply
Compliance
Rejecting model rejection
Opinion
The curious incident of the disputed CDO
Cover Story
Home is where the risk is
New Angles
Treatment of incomplete data: the effects on parameter estimates, EL and UL figures
Marco Moscadelli1, Anna Chernobai 2 and Svetlozar Rachev 3 discuss a practical solution for consistent estimation of operational loss severity and frequency distributions, and analytically measure the extent of the bias on the EL and UL figures when…
Austrian Energy Exchange launches emissions trading
The Austrian Energy Exchange, EXAA, joined the ranks of European exchanges trading emissions yesterday with its first spot auction of European Union CO 2 allowances (EUAs).
NPR: under wraps, for now
Considering last month’s US regulator conference should have covered the notice of proposed rulemaking in some depth, any information on NPRs was noticeably scant. By Ellen Davis
Sponsor's article > Mizuho Case Study: Implementing an Integrated, Scalable Risk Management Solution
Risk management never stands still for long. Financial markets are forever evolving, products are gaining complexity, and the sheer number of trades is growing rapidly. Risk management solutions and practices designed for the markets of the past can lack…
OCC targets large banks’ reputational risk
WASHINGTON, DC – The Office of the Comptroller of the Currency (OCC) will be paying particular attention to reputation risk management in large banking organisations, says acting comptroller of the currency, Julie Williams.
ECX and Powernext team up on carbon trading
French electricity exchange Powernext and the Amsterdam-based European Climate Exchange (ECX) have agreed to jointly offer carbon futures and spot contracts. The partnership is complimentary, because ECX lists a futures contract and Powernext offers a CO…
Six months for US parallel running?
BOSTON – Regulatory authorities in the US might shave Basel II’s year of parallel running down to just six months, according to several industry sources.
Merrill Lynch nabs 23 derivatives marketers from JP Morgan
Merrill Lynch’s raid on JP Morgan Chase’s derivatives marketing unit has resulted in 23 derivatives marketers joining the US securities dealer. The move represents one of the largest derivatives team defections seen in Europe and appears to contradict JP…
Belize loses $3m on cross-currency swap with Citigroup
The government of Belize has revealed that a dollar/yen interest rate swap left it on the wrong side of changes in the strength US dollar - and more than $3 million out of pocket.
Spitzer probe threatens MBIA bond guarantees
Regulatory scrutiny of accounting practices at MBIA has put pressure on the monoline insurer’s triple-A rating, undermining its guarantees. Hardeep Dhillon reports
Diligence overdue
Investment banks paid a record $6 billion out-of-court settlement for bond investors hit by the collapse of WorldCom. The settlement has not only raised the bar for future payouts in these cases but has also prompted underwriters to reexamine their due…
Axiom agrees to buy out partners
The dispute over control of derivatives brokerage Axiom Global Partners has been settled. The company has agreed to buy out two dissident shareholders and reappoint former chief executive James Cawley to run the credit derivative brokerage.
GFI names traders to spearhead property derivatives venture
Two veteran GFI brokers are set to start work developing a property derivatives trading desk as part of a joint initiative between the brokerage and real estate services group CB Richard Ellis (CBRE). Michael Levi and Paul Ogden will start work when the…
Living with recognition
Under new accounting rules implemented this year, the majority of Europe's asset-backed securities transactions will now have to be recognised on balance sheet. Will this lead to a drop in securitisation volumes? Duncan Wood reports