Bies justifies backing Basel I for smaller banks in the US

Additionally, small banks in the US rarely offer large and complicated risk products. “The cost-benefit-analysis showed that it was not worth it,” Bies said at the Global Association of Risk Professionals’ Basel II conference in Barcelona. One question directed at Bies was: “Why is Basel I being tweaked for small banks when you have acknowledged Basel II is far better for risk management? Can you explain this to the people who look to the Fed as standard-setters?” Bies responded that that

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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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