The three-way knock-on effect

Enterprise-Wide Risk Management

Some of the most notorious derivatives debacles of the 1990s resulted from companies having large operational exposure while paying little or no attention to market and credit exposure.

Take Barings Bank, which – thanks to insufficient monitoring of market and credit activity combined with the failure of operational safeguards – lost $2 billion and ultimately filed for bankruptcy. Other examples include Orange County California, which lost $1.7 billion on interest rate swaps; Metallgesellschaft

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here