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Basel regulators to study insurers' reaction to US attacks
BASEL - Bank regulators considering allowing op risk insurance a role in the proposed Basel II bank accord will study closely how the insurance industry deals with the massive insurance claims arising from the September 11 attacks in the US. So said…
A new role for op risk insurance
As expected, the Basel Committee on Banking Supervision said in late September that it is prepared to consider a role for insurance in reducing operational risk capital charges proposed under the Basel II bank capital adequacy accord.
Pro-cyclicality in the new Basel Accord
Could Basel II worsen recessions? By backtesting the proposed capital rules to the last recession, D. Wilson Ervin and Tom Wilde argue that the increased risk sensitivity of loan portfolio regulatory capital in the new Accord could have unwelcome…
New op risk paper gets cautious welcome, but reservations remain
BASEL - Bankers gave a cautious welcome to the further thinking of global banking regulators on their controversial plans to make internationally active banks set aside capital against op risk under the Basel II banking accord.
Banking on progress
Technology
BoNY plans to relocate data centres outside New York
WORLD TRADE CENTER AFTERMATH
New op risk paper gets cautious welcome, but reservations remain
BASLE II UPDATE
Disaster recovery experts get firms up and running
WORLD TRADE CENTER AFTERMATH
Basle regulators cut op risk charge benchmark to 12%
BASLE II UPDATE
We remember our colleagues and friends
WE REMEMBER OUR COLLEAGUES AND FRIENDS
Attacks on US demonstrate extremes of operational risk
FRONT PAGE NEWS
A new role for op risk insurance
BASLE II UPDATE
Basle regulators to study insurers' reaction to US attacks
BASLE II UPDATE
Disaster recovery -- the new Y2K?
WORLD TRADE CENTER AFTERMATH
Cantor names new executives
Cantor Fitzgerald has named new managers to its sister business eSpeed to replace those lost in the World Trade Center tragedy. The broker lost nearly 700 of its 1,000 staff in the tragedy, which has now claimed more than 6,000 lives.
Basel cuts op risk charge benchmark to 12%
Global banking regulators will base their proposed capital charge for operational risk on a 12% benchmark, down from the controversial 20% originally proposed.
Ernst & Young boosts UK credit risk services
Ernst & Young, the international professional services firm, has ramped up its risk management services practice headed by Tim Pagett, by hiring ING Barings’ former global head of risk management infrastructure Robert Endersby.
RBS boosts swaps team
The Royal Bank of Scotland (RBS) has hired Benoit Seguret as a senior interest rate swaps trader in its financial markets division.
Mark leaves CIBC to launch consultancy
Robert Mark has resigned as vice chairman and chief risk officer at the Canadian Imperial Bank of Commerce in Toronto to launch a consulting firm and pursue academic interests, the bank said.
Rolfe & Nolan removes Lodge as CEO
UK derivatives systems vendor Rolfe & Nolan has ousted its chief executive officer, John Lodge, as part of an effort to boost confidence among its customers and shareholders. The company, which has seen its share price plunge over the past two years,…
Biltoo joins CreditTrade
Krishna Biltoo has joined London-based credit derivatives trading platform CreditTrade as its new head of product development.
Patsystems' de Cock ousted from CEO role
Jacques de Cock has stepped down as chief executive officer of London-based trading software company patsystems. David Jones, who was appointed to the board as non-executive director in January 2001, takes over as chief executive. Patsystems said de Cock…
RBS appoints Burtonshaw as head of finance technology
The Royal Bank of Scotland's (RBS) financial markets division has made Peter Burtonshaw its new head of finance technology with immediate effect.
AFS Group to establish London office
Amsterdam-based interdealer broker AFS Group is establishing a London-based office that will initially focus on offering equity derivatives.