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AEP snaps up Enron's Nordic power team
Ohio-based utility American Electric Power (AEP) is set to enter the Nordic power market after its London-based European trading arm, AEP Energy Services, assumed operation of Enron's offices in Oslo and Stockholm.
Hungarian netting legislation welcomed by Isda
The International Swaps and Derivatives Association (Isda) today said it welcomed the implementation of Act CXX of 2001 on the Capital Markets (CMA), which provides legal certainty to the enforceability of close-out netting in Hungary. The CMA, passed by…
In search of clarity and focus
Greater precision is needed in defining operational risk, but the Basle regulators' latest thoughts are lost in generalities, says Jacques Pézier, in the final article of a three-part series.
Basel shortcomings: Danger lurks on the rocky road to Basel II
The Basel Accord proposals to define operational risk contain many fatal flaws, says Jacques Pézier. He argues that it would be better to focus management time on managing key risks than on developing op risk databases and measurement procedures.
Regulators want active dialogue on op risk
BASEL - Active dialogue between banks and their supervisors is the key to the continued development of approaches to managing operational risk, global banking regulators said in a much-delayed paper on op risk sound practices issued in December.
Approach with caution
Indicators of operational risk are not for the faint of heart, nor are they necessarily bearers of good news. But used properly and effectively, they can help businesses identify potential losses before they happen.
Sound practices paper gets positive response
Bankers generally responded positively to the guidance on sound practices for managing operational risk issued by global banking regulators in December.
Basel II sets the pace for operational risk reform
Basel II is set to come into play in 2005, bringing a host of opportunities for vendors along with the new framework for banking supervision. Andrew Partridge examines the potential and some of the challenges for the suppliers and users of financial…
The Basel Accord: A tough nut to crack
Crafting a capital charge for operational risk has proven to be a project fraught with controversy. International regulators’ first attempt raised the industry’s hackles. David Keefe reports on recent – and further expected – compromises by the Basel…
2002 the year ahead
Market overview
Also on the move...
People
Bondholders rights: the gloves are off
Restructuring
Utilities: Enron’s ripple effect
Cover story
Regulators want active dialogue on op risk
BASLE II UPDATE
In search of clarity and focus
BASLE II UPDATE
Risk awards
The third annual Risk awards recognise excellence and innovation in the fast-changing risk management and over-the-counter derivatives businesses
The silver lining
Enron’s collapse could ironically give a boost to the telecoms market, as Enron Broadband Services bows out of the limelight. By Laurence Neville
Job moves
QUOTE OF THE MONTH: - “The FSA has successfully put the fear of God into senior managers” Simon Gleeson, a partner in the regulatory group at Allen & Overy in London, on the FSA’s new unlimited liability rules for risk management errors Source: RiskNews,…
Race to replace Enron in freight
Sarfraz Thind talks to firms with the potential to take up the slack following Enron’s departure from the freight derivatives market
Fallout for energy markets
Enron’s collapse led to short-lived increases in electricity and natural gas volatility. As the markets settle down, the question now is who will fill Enron’s shoes? By Kevin Foster