Citi

Algorithmics and Citigroup in credit risk partnership

Algorithmics, a Toronto-based specialist in enterprise risk management, has entered into a strategic alliance with global banking giant Citigroup to deliver a global suite of credit risk models. The models will provide credit risk and default analytics…

Nikko hit by latest Japanese trading error

A new trading error on the Tokyo Stock Exchange looks set to cost broker Nikko Citigroup an estimated JPY1 billion ($8.6 million). The development follows a more serious trading error at Mizuho on December 8.

PBOC gives OTC foreign exchange trading go-ahead

The People's Bank of China (PBOC) has opened up the country's spot FX market to over-the-counter trades, and authorised the China Foreign Exchange Trading System (CFETS) to determine the daily central parity rate for the RMB against foreign currencies.

Risk and responsibility

A growing number of banks are producing sustainability reports detailing their environmental and socially responsible initiatives. Is this just slick PR or has sustainability become an important risk management consideration? Clive Davidson investigates

Under Scrutiny - Regulators focus on credit

Well-publicised risk issues and a recent growth spurt have brought credit markets firmly under the scrutiny of global regulators. Nikki Marmery investigates whether the attention will prove to be a boon for attracting more investment - or a barrier to…

Knocking down barriers

A new reinsurance directive passed by the European parliament in early June will eradicate the collateral requirements demanded by European supervisors. With a unified framework agreed for Europe, politicians are now turning their sights on the US. By…

JP Morgan bolsters derivatives marketing business

JP Morgan has hired four derivatives marketers for its streamlined derivatives marketing unit, including two managing directors from Deutsche Bank. They are the first significant appointments by the US investment bank since a steady stream of senior…

Drop in volatility prompts move to exotics

The drop in equity implied volatility levels is making it harder to offer yield enhancement products, says Harold Kim, Hong Kong-based Citigroup managing director, speaking at a structured products forum in the Special Administrative Region.

Citibank cut out

The suspension of Citibank’s private banking business by the Financial Services Agency in September has brought to light a catalogue of internal control and governance failures within the bank’s Japanese operations. And with Citi now cut out of the…

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