Risk magazine
No arbitrage: New rules make markets 'less efficient'
Indexes may be less effective hedges in absence of arbitrageurs
How to hedge CVA without being hurt
A new product could smoothe the gap between capital and accounting rules
Credit exposure models backtesting for Basel III
The Basel Committee on Banking Supervision has introduced strict regulatory guidance on how to validate and backtest internal model methods for credit exposure. Fabrizio Anfuso, Dimitrios Karyampas and Andreas Nawroth incorporate these guidelines into a…
New ways to combat clearing-house risks
Systemic risk in the clearing house
Powell says Fed will ‘make sure’ swap market can ditch Libor
Central bank will coordinate switch to new risk-free benchmark
Regulatory costs break risk neutrality
Regulations impose idiosyncratic capital and funding costs for holding derivatives. Idiosyncratic costs mean that no single measure makes derivatives martingales for all market participants. Chris Kenyon and Andrew Green demonstrate that regulatory…
Q&A: Benoît Coeuré, ECB, on securitisation and clearing risks
Revamped ABS market will need state support if it is to be a game-changer for Europe
ECB’s Coeuré: Europe faces ‘fundamental choice’ over ABS
High-quality ABS will need some form of public backing to reach potential
All change at SocGen's Russian arm
Two departures from senior management
Risk awards 2015 now open for submissions
The Risk awards recognise best practice in risk management and derivatives markets
Industry fears Mifid shake-up of futures clearing
Esma weighs blanket use of stricter OTC rules on indirect clearing
Defections give new life to revolving-door debate
Matherat to Deutsche, O'Malia to Isda - regulatory moves worry some
JP Morgan gives away massive $850 billion mandate to Citi
Citi win wipes nearly 5% off JP Morgan’s assets under custody
Fix and FpML: a friendly war
Swap reforms see messaging standards collide
Carney urged to help end masking of swap counterparties
Top regulators want FSB to fix clash between reporting rules and privacy laws
Cyber security – another reason for data storage to go modular
Relational databases are hard to protect; modular storage allows encryption
The House of Lords: looking for gaps in EU financial reform
Chair of Lords subcommittee says UK neglect of Europe is "criminal"
Black box blues: Fed starts model validation row
"They all fall short," says one expert, as banks try to vet vendor models
Euro inflation floors hit three-year low
Traders point to lower volatility, but one big short is also blamed
Eurex and LCH.Clearnet seek OK for inflation swaps
Regulators focus on default management as CCPs target launch in early 2015
Fed orders banks to break open black boxes
Banks struggling to prise information out of vendors after Fed clamps down
South African proposals cause offshore clearing flap
Draft rules "could be reworded" concedes National Treasury
European lender bars customer from hedging with US banks
Bank appears to fear hedges with a US person could drag it into Dodd-Frank regime
Germany finds Emir enforcement fix
Some firms cry foul over auditor-led supervision