New op risk paper gets cautious welcome, but reservations remain


BASLE, SWITZERLAND -- 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 Basle II banking accord.

The Basle Committee on Banking Supervision, the body that in effect regulates international banking and the architect of the Basle II accord, issued a working paper in late September. As expected, the document conceded ground on some issues, clarified others

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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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