Foreign exchange
Roundtable > Operational risk quantification: a discipline at a crossroads
Operational Risk magazine held its first European roundtable during Risk magazine's annual European congress, in Paris, on April 9.
Raroc pioneer now questions use of risk analytics
Dan Borge, who developed the first widely used enterprise-wide risk management system, risk-adjusted return on capital (or Raroc) while head of global research and corporate strategy at Bankers Trust in the 1970s and 1980s, now questions whether…
Risk Italia 2003: Italian covered warrants market will recover
The Italian covered warrants market will recover, despite recent falling volumes, said Marco Montanari, head of the Italian covered warrants market at SG, speaking today at Risk 's inaugural Risk Italia conference in Milan.
Icap to broker economic derivatives
Icap has agreed to broker the parimutuel auction-based economic derivatives jointly developed by Deutsche Bank and Goldman Sachs, the firms announced today. Icap will offer the full range of economic derivatives, including vanilla and digital options and…
Compliance systems are key to reputational risk, says Sullivan & Cromwell’s Cohen
Regulators look to the strength of a firm’s compliance system when deciding how aggressively to pursue it for rule violations, according to Rodgin Cohen, chairman of law firm Sullivan & Cromwell. Cohen, a well-known legal expert in bank acquisitions,…
Corporate Actions: Anxiety and Curiosity Around DTCC's New Hub
The DTCC's initiative to stake a greater claim to the corporate action space presents stiff competition or new opportunity, depending on the perspective.
Risk Italia 2003: Growing proficiency in risk management allows more risk, says Cocco
Increasing proficiency by risk managers is allowing financial institutions to run more risk, according to Pierfrancesco Cocco, head of risk management at Banca Monte di Paschi di Siena. Speaking today at Risk’s inaugural Risk Italia conference in Milan,…
Sponsor's article > Is 8% for all seasons?
Considering the potential pro-cyclical impact of Basel II and the limited effectiveness of countervailing influences, David Rowe concludes that making the 8% ratio of capital-to-risk-adjusted-assets a discretionary policy variable should be part of the…
Citi has war chest but high standards, CFO says
Citigroup has “stored excess capital” to allow it to make acquisitions during periods when price-earnings multiples in the financial services industry are depressed, as is currently the case, according to Todd Thomson, chief financial officer at the New…
Risk Italia 2003: Banks to increasingly use securitisation for risk management
The securitisation market may be increasingly used in the future to manage the risk position of banks, said Marc Zanelli, head of the securitisation group at CSFB in Milan, speaking today at Risk’s inaugural Risk Italia conference, also in Milan.
Isda adds 4pm setting to HK$ IsdaFix
The International Swaps and Derivatives Association has included an additional fixing time of 4pm for its Hong Kong dollar IsdaFix swap rate service.
How practical is op risk insurance?
PARIS AND NEW YORK - The decision to allow the use of insurance to offset operational risk charges, under international and European risk-based regulatory frameworks, has opened yet another proverbial can of worms for banks.
The consulting conundrum
Gone are the Y2K days, when consultancies could exploit their strong positions and bill their clients big money for questionable services. The roles have been reversed for financial services firms, and consultancies are having to back up their ‘smoke and…
Industry leaders revive client-facing forex options teams
Top-tier banks are moving to set up core groups of client-facing options specialists, turning away from a previous trend to re-train all sales dealers to have derivatives expertise.
Ferc calls for risk manager vigilance
William Hederman, director of the office of market oversight and investigations (OMOI) at the US Federal Energy Regulatory Commission (Ferc), today urged energy risk managers to alert his office to any suspicious market practices.
Exceptional Rates of Failure
With industry exception rates so high that the word exception is hardly appropriate, some firms are taking drastic steps. Among them: demanding that partners meet minimum standards to continue getting business.
Framework developed for German banks
BONN, GERMANY - Many of Germany's banks have been somewhat slow to prepare their operational risk management framework for the new international bank capital accord, Basel II, and the prospective European Union (EU) Capital Adequacy Directive (Cad).
Japanese banks need to improve op risk management, says BOJ
TOKYO - Some Japanese financial institutions need to improve their op risk management, according to a report released in March by the Bank of Japan (BOJ).
ABN Amro delves into global OTC oil and gas derivatives
Dutch bank ABN Amro has started to offer its clients oil and gas hedging services, as part of its financial markets business, which incorporates debt capital markets, structured lending and risk management activities.
New CDO issuance picked up in April, says Goldman
The collateralised debt obligation (CDO) market witnessed a turnaround in new issuance in April, according to research from Goldman Sachs in New York. But the year-to-date new issue of CDOs in the US and European markets is still down by more 20% and 50%…
Tremont Advisers pushes new fund of hedge funds benchmark
Tremont Advisers, a fund of hedge funds with more than $8 billion in assets under management, based in Rye, New York, is proposing a new fund-of-hedge-fund performance benchmark comprising a blend of 70% three-month Libor and 30% S&P 500. If it catches…
Reference Data's Dirty Little Secret
It turns out reference data standards will make it easier for customers to switch data vendors. There are growing whispers about how positively vendors will view that.
RBS selects Algo credit to manage global wholesale credit limits
Royal Bank of Scotland (RBS) has selected Algo Credit to manage its global limits and exposures management from Algorithmics, the Toronto-based provider of risk management software.
