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Sponsor's article > Basel II: change is good
Basel II is an opportunity for banks to modernize and upgrade their risk practices, policies and technology to manage risk in a holistic fashion. Alliance & Leicester, a UK based financial institution with assets of over €55 billion, took early advantage…
Shell agrees $150 million fine over reserves scandal, releases interim results
Royal Dutch/Shell Group looks set to pay $150 million in civil penalties and spend $5 million on developing an internal compliance programme, following its recent overstatement of reserves. The energy giant has agreed in principle with the UK Financial…
Independent valuation service for OTC derivatives launched
JP Morgan Investor Services (JPMIS), part of JP Morgan Chase, has launched an independent valuation service for over-the-counter derivatives.
Isda master confirmation to include variance swaps
The International Swaps and Derivatives Association, a trade body, has extended its 2004 Americas inter-dealer equity derivatives master confirmation to include confirmation details on variance swaps.
DrKW forms energy trading business
Investment bank Dresdner Kleinwort Wasserstein (DrKW) has formed a London-based energy trading business, headed by Neil Rothwell.
DrKW forms energy trading business
Investment bank Dresdner Kleinwort Wasserstein (DrKW) has formed a London-based energy trading business, headed by Neil Rothwell.
Behind closed doors
The method used by rating agencies to determine rating actions has often been portrayed as a shadowy and secretive process. Nancy Stroker tries to shed some light on the matter.
AIB repays €26m for overcharging
Allied Irish Banks (AIB) said it is repaying €26 million ($32 million) it overcharged clients on three million FX deals, after a regulator slammed the bank in a report last week.
Risk managers not playing their strategic part, says survey
The risk management groups within most financial services companies do not have much input into strategic decision-making, according to a survey.
Collateralization: A safety net for investors?
The proliferation of credit derivatives has given rise to the widespread use of collateralization—posting collateral against the risk of default. But as Saskia Scholtes reports, this practice may be creating its own risks.
Collateralization: A safety net for investors?
The proliferation of credit derivatives has given rise to the widespread use of collateralization—posting collateral against the risk of default. But as Saskia Scholtes reports, this practice may be creating its own risks.
Swapstream market-makers raise quote size to €800m
The four banks making markets on electronic interest rate swaps trading platform Swapstream have raised their quote sizes from around €100 million to €200 million apiece.
AIB repays €26 million for overcharging
Allied Irish Banks (AIB) is repaying €26 million ($32 million) it overcharged clients on 3 million foreign exchange deals, after a regulator slammed the bank in a report last week, reports RiskNews’ sister publication, FX Week .
The Monte Carlo mindset
There is a rich seam to be mined in the provision of tools to calculate counterparty credit risk. Clive Davidson looks at what's on offer so far, and what could be coming on to the market.
Le Pan takes on group allocation
Nicholas Le Pan, head of the Basel Committee's Accord Implementation Group, must sort out the challenging home-host issue. The success of Basel II depends on it.
Evolution looks west with Unger
Evolution Markets is expanding to provide brokerage services to the California emissions trading markets. Leading the company’s efforts in San Francisco is Samantha Unger, one of the California emissions markets’ most experienced brokers.
ABN Amro launches MiniSwaps contracts
ABN Amro has launched miniature versions of interest rate swaps contracts targeted at companies, fund managers and institutions that are prevented from trading derivatives for regulatory or other reasons.
HKMA to rule out AMA approach
Hong Kong's banking regulator, the Hong Kong Monetary Authority (HKMA), will not allow the territory's banks to use the advanced measurement approaches (AMA) for measuring operational risk when Basel II is implemented from the end of 2006.
Boston Fed publishes new op risk paper
The Federal Reserve Bank of Boston published another ground-breaking paper on operational risk in mid-June.
EU CAD beta lowered – but only for some
UK and European op risk executives were shocked when a EU Commission official revealed that although the beta for the trading and sales business line would be lowered to 15% from 18% in the EU's Capital Adequacy Directive, this benefit would only be…