Risk USA speakers call for loan commitments to be marked to market

Peter Hancock, president of Integrated Finance, a financial services boutique, and former chief financial officer at JP Morgan, said such commitments must be marked to market prices, while admitting he was a "mark-to-market zealot". But his sentiments were echoed by Michael Ong, a professor at the Illinois Institute of Technology and previously Credit Agricole Indosuez's chief risk officer for North America, who said cheap loan commitments were frequently used by banks to branch into investment

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