Europe allows wider role for op risk insurance in Cad 3 [full story]

That would be good news for European investment firms and asset managers and their supervisors, who feared the firms would be required to set aside penal amounts of protective capital to guard against operational hazards such as fraud, technology failure, legal risk and settlement errors.

But it would open up an unwelcome gap for some national regulators between the European Commission’s third capital adequacy directive, or Cad 3, and the Basel II bank capital adequacy accord. The present Basel

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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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