Citi’s CRO on the importance of risk sensitivity

Brad Hu talks modelling, CECL and setting risk culture


Six months after the release of new banking rules by global standard-setters, the industry is still digesting their effect. The world’s biggest banks had invested considerable time and money developing complex models to calculate risk capital. But the Basel Committee on Banking Supervision ripped up several of those model-based approaches in December, in some cases replacing them with simpler, standardised rules.

Many in the industry protest that the new Basel III standards impose overly

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