VAR: ready to explode?

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Risk managers at Wall Street securities firms received a jolt in early June when the industry’s top regulator, the Securities and Exchange Commission (SEC), instigated plans to radically improve value-at-risk reporting procedures. The securities firms, many of which saw their VAR rise dramatically in 2003, are now working with leading Federal Reserve-regulated commercial banks to conform with a set of best-practice principles.

The move comes at a time when the financial press, research analysts

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