Firefighting to fire prevention

Risk Japan 2009


Prudent regulation, less reliance on models and emphasis on innovation, and the inability of institutions to move to an originate-to-distribute model due to legacy non-performing loan problems have shielded Japan's financial sector from the worst of the financial crisis. Banks in the country have tended to employ stronger credit standards, used less leverage and often offered greater transparency than many of their peers in the West.

That's not to say there haven't been problems. Many issuers

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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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