Credit markets
Credit risk: learning from the crunch
New business opportunities bring new risks. The market innovations that helped precipitate the credit crisis demonstrate that a complex new approach to risk management is required - and that means thinking beyond models based on derivatives and Basel II,…
Back to basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask... Quantifi founder and CEO Rohan Douglas explains how to take a bank to the brink of disaster - and back again
Hybrids - The alchemists
Much like the early scientists of the Middle Ages who tried to turn base metal into gold, today's financial engineers are wrestling with the task of changing relatively worthless structured credit products into commercially viable and marketable assets…
The Big Interview - Philip Fischer
Merrill Lynch's municipal bond strategist explains to Dalia Fahmy why the muni market deserves to be better understood
A new form of capital
Editor's letter
Diverging Views
Credit ratings
Portfolio modelling of counterparty reinsurance default risk
Technical papers
Click and trade
E*Trade Financial
A trade for all directions
Cover Story
Accumulated risk
Structured products
The redundant trader
Special Report: Electronic trading - Algorithmic trading
Counterparty risk and CCDSs under correlation
Counterparty risk under correlation is relatively unexplored in the financial literature. Damiano Brigo and Andrea Pallavicini extend previous analysis beyond swap portfolios. A stochastic-intensity jump-diffusion model is adopted for the default event,…
Structured squeeze
Japanese credit
JP Morgan CDS exposure could top $10 trillion
JP Morgan’s proposed acquisition of Bear Stearns could push the bank’s already formidable footprint in the credit default swaps (CDS) market through the $10 trillion notional barrier, raising questions over the prudence of such large concentrations…