Crumbling relations

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Sovereign risk has dominated the financial markets this year. The fallout from Greece’s fiscal woes has shaken confidence in European sovereign bonds, once considered to be the safest of investments. The five countries affected most – Portugal, Ireland, Italy, Greece and Spain, which together have been given the somewhat pejorative acronym Piigs, saw their sovereign debt spreads balloon in January as investors were gripped with fear of a contagion spreading across the markets. Credit default

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Credit risk & modelling – Special report 2021

This Risk special report provides an insight on the challenges facing banks in measuring and mitigating credit risk in the current environment, and the strategies they are deploying to adapt to a more stringent regulatory approach.

The wild world of credit models

The Covid-19 pandemic has induced a kind of schizophrenia in loan-loss models. When the pandemic hit, banks overprovisioned for credit losses on the assumption that the economy would head south. But when government stimulus packages put wads of cash in…

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