Bank supervision gets personal as UK focuses on accountability


Hours after the publication of a report by the UK’s Parliamentary Commission on Banking Standards (PCBS) on June 19, a group of senior traders are – glumly – sitting down to lunch. One of the main planks of the report is a push for increased personal liability, most obviously through the creation of a new criminal offence of recklessness in the management of a bank, but also by deferring compensation for up to 10 years, and replacing the existing approved persons regime – a system through which

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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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