Detroit swaps spark fight between dealers and insurers

Detroit spinners


Less than a mile on foot from the waterfront office of Detroit’s emergency manager, Kevyn Orr, is the art deco MGM Grand, one of three casinos that are key to the city’s future. The vast sums of money flowing through its games tables and 4,000 slot machines are just a 20-minute walk away from the man tasked with leading Detroit out of bankruptcy, but there is an impenetrable legal barrier in the way – in 2009, the city pledged the casinos’ tax revenues as collateral on a number of interest rate

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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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