Better ERM needed to avert crises, says Fed's Cole

Addressing the Asia Risk 2008 conference in Hong Kong, Cole opened his keynote speech with a summary of significant market events since August - including problems at Bear Stearns, Lehman Brothers, AIG and Merrill Lynch, among others - and the regulatory responses.

Cole conceded that supervisors had learnt some important lessons. He said market regulators must continue to stress the importance of sound underwriting of the underlying assets; provide positive incentives and clear consequences for

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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