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New EBA taxonomy could help integrate emerging op risks
Extra loss flags will allow banks to track transversal risks like geopolitics and AI, say experts
BoE’s second SITG proposal could lead to $333m additional CCP capital
Plan would expand own-capital tranches deployed alongside member contributions at LCH, Ice and LME
Third of banks run ALM with five or fewer staff
Across 46 firms, asset-liability management is usually housed in treasury, but formal remits and staffing allocations differ sharply
How investment firms are innovating with quantum technology
Banks and asset managers should be proactive in adopting quantum-safe strategies
Barclays runs closest to capital hurdles in BoE stress test
UK lender still weakest against required minimums but widens buffers from prior exercise
Trump’s LatAm gambit spurs FX hedging rush
Venezuela op boosts risk reversals as investors look to protect carry trades
One Trading brings 24/7 equity trading to Europe
Start-up exchange will launch perpetual futures Clob in Q1 after AFM nod
US banks diverge from global peers on OTC clearing
Clearing rates fall in US as UK, Europe and Canada push higher
Credit spread risk: the cryptic peril on bank balance sheets
Some bankers fear EU regulatory push on CSRBB has done little to improve risk management
LME hit hardest in BoE’s latest CCP stress test
Cover 2 liquidation scenario wipes out more than half of default fund
Top 10 investment risks for 2026
AI, strained governments, inflated private assets: risky bets have become hard to avoid
Citadel Securities hires former Eisler CRO
Pregnell joins market-maker after demise of hedge fund
FXGO volumes surge despite fee switch-on
Dealers split on whether levy is behind volume increases across SDPs
Banks hope new axe platform will cut bond trading costs
Dealer-backed TP Icap venture aims to disrupt dominant trio of Bloomberg, MarketAxess and Tradeweb
Risk managers question US reach of Dora third-party list
Some EU subsidiaries included, but regulator control over cloud providers could still be limited
MBSD liquidity risk hits four-year high
Estimated largest payment obligation tops $40bn in Q3
Credit spread risk approach differs among EU banks, survey finds
KPMG survey of more than 90 banks reveals disagreement on how to treat liabilities and loans
Kyriba sees uptake in AI-assisted FX hedging tools
Automated data collection and cleaning helps corporates create better hedges and has cut unexplained P&L moves by 87%, says vendor
RBC books C$984m soured-loan PCLs as tariff uncertainty persists
Set-asides run at elevated rate for yet another quarter
Bowman’s Fed may limp on by after cuts
New vice-chair seeks efficiency, but staff clear-out could hamper functions, say former regulators
Interest rate ETDs surge to second-highest level on record
Futures-led surge signals firmer views on rate direction
Review of 2025: It’s the end of the world, and it feels fine
Markets proved resilient as Trump redefined US policies – but questions are piling up about 2026 and beyond
China, US banks show highest global RWA density
American Express leads with risk density over 70%, ahead of Capital One and Truist
Does crypto really need T+0 for everything?
Instant settlement brings its own risks but doesn’t need to be the default, writes BridgePort’s Soriano
Asset managers prep autocall ETFs with assets tipped to hit $30bn
Actively managed strategies wait in the wings after systematic approach nets Calamos $500m
One in five banks targets a 30-day liquidity survival horizon
ALM Benchmarking research finds wide divergence in liquidity risk appetites, even among large lenders
OCC’s initial margin spikes 27% in Q3
CCP hits new margin record for second consecutive quarter
BofA urges horizontal CCP fix after CME outage, others demur
Analysts say clearing meltdown bolsters case for futures-for-futures exchange with FMX
Citi launches core inflation QIS
Custom indexes eliminate energy and food prices to ease trading of stickier inflation trends
US insurers turn to short-dated FX forwards as notionals rise
Counterparty Radar: Trades under three months make up nearly 60% of total positions, up from just a third in 2022
Bank ALM tech still dominated by manual workflows
Batch processing and Excel files still pervade, with only one in four lenders planning tech upgrades
Hong Kong derivatives regime could drive more offshore booking
Industry warns new capital requirements for securities firms are higher than other jurisdictions
Many banks ignore spectre of SVB in liquidity stress tests
In ALM Benchmarking exercise, majority of banks have no internal tests focusing on stress horizons of less than 30 days
Analysts dismiss BDC credit quality concerns
Growing private credit worries helped drive losses, but fundamentals are said not to support that view
October’s crash shows crypto has come of age
Ability to absorb $19bn liquidation event marks a turning point in market’s maturity, says LMAX Group's Jenna Wright
Morgan Stanley marks biggest risk category swing in 2025 G-Sib test
Substitutability overtakes complexity at US bank for first time
Quant Finance Master’s Guide 2026
Risk.net’s guide to the world’s leading quant master’s programmes, with the top 25 schools ranked
ALM Benchmarking: explore the data
View interactive charts from Risk.net’s 46-bank study, covering ALM governance, balance-sheet strategy, stress-testing, technology and regulation
Six FCMs set record lows for target residual interest share
Brokers’ own resources are outpaced by customer funds
People: Fishwick hands over BlackRock CRO role, Citi expands Asia FX team, and more
Latest job changes across the industry
Staff, survival days, models – where banks split on ALM
Liquidity and rate risks are as old as banking; but the 46 banks in our benchmarking study have different ways to manage them
FX swaps price discovery challenges buy side, says Vanguard
Lack of transparent price validation data for FX forwards and swaps is holding back buy side, Vanguard’s head of FX says
CME faces battle for clients after Treasuries clearing approval
Some members not ready to commit to 2026 start date; rival FICC enhances services
One in 10 property loans at EU banks threatened by climate hazards
Helaba remains the most exposed among peers, with both residential and commercial books linked heavily to climate risks
BlackRock appoints Pierre Sarrau as chief risk officer
Current CRO Edward Fishwick will be head of research at BlackRock’s RQA group
Dealers warn of capital squeeze from increased FX hedging
Sharp rise in uncollateralised buy-side hedges could restrict banks’ ability to take on positions
Will Iosco’s guidance solve pre-hedging puzzle?
Buy-siders doubt consent requirement will remove long-standing concerns
BoE lowers capital benchmark for first time in a decade
Drop to 13% envisages 0.5pp decline in Pillar 2 add-ons after Basel III
Baruch, Princeton cement duopoly in 2026 Quant Master’s Guide
Columbia jumps to third place, ETH-UZH tops European rivals
Floating exercise boundaries for American options in time-inhomogeneous models
A pricing model is extended to account for negative interest rates or convenience yields
