Risk magazine
Greek reversion to drachma easier than euro conversion, say analysts
If Greece were to leave the eurozone it would have to establish a new currency in record time; analysts explain how the process would be simpler today due to technological advances
EU member states want to use judgement to set buffer rules, says working paper
EU Polish presidency paper highlights concerns over aspects of the counter-cyclical capital buffer rules under CRD IV
Riccardo Rebonato quits RBS for Pimco
Ex-head of front-office risk management and quantitative research will join Pimco on December 1 as head of rates and FX analytics
MF Global collapse should prompt rethink of CFTC rule on CCP membership, say dealers
The bankruptcy of MF Global should prompt the CFTC to reconsider the $50 million cap on minimum capital requirements set by CCPs on clearing members, say bankers
OCC seeking change to rating ban in Dodd-Frank, reveals Walsh
Banking regulator talking to Congress about altering the Dodd-Frank Act to allow a limited use of credit ratings
Avatar Capital adds CCDS brokerage team
Broker-dealer hires former Icap credit hybrids team
Political crisis in Europe brings volatility back to forex options
Volatility returned to eurodollar last week, as forex traders priced further downside risk into euro options
Sweden will go beyond Basel III capital rules, says Ingves
Riksbank governor Stefan Ingves says Sweden will follow Switzerland and UK in implementing higher capital adequacy requirements than Basel III for largest banks; details to be released soon
Financial institutions plan to increase risk and trading IT spending in 2012
Just over 60% of respondents plan to up their technology spend next year, with market risk systems the main beneficiary
Pickel replaces Voldstad as Isda chief executive
Bob Pickel reappointed Isda chief executive, replacing Connie Voldstad, who will stay on as special adviser to the board
Sean Kavanagh leaves Deutsche Bank for Citi
Loan risk manager takes newly created job as head of credit portfolio management at Citi
Risk.net poll: G-20 will not meet deadline for OTC derivatives reforms
The vast majority of respondents to a Risk.net poll do not believe G-20 members will meet the end-2012 deadline for all standardised OTC derivatives to be cleared through CCPs
Quant Congress Europe: Quants urged to ditch equilibrium models
Equilibrium models do not represent real markets and need to be replaced with models that take explicit account of real capital flows, says Alex Langnau
Quant Congress Europe: Peter Carr introduces ‘meta-modelling’
Morgan Stanley quant tells Risk's annual European quantitative finance event that modelling assumptions should be considered in light of calibration needs - even if this leads to discrepancies
Basel proposals reduce need to sign guaranteed portability agreements
Changes to bank capital rules on CCP exposures remove the need for bank clients to enter into contractual agreements to port trades to other clearing members
CCP capital rules could discourage client clearing, critics claim
Revised Basel rules provide little capital incentive for clearing members to clear trades on behalf of clients, bankers argue
Non-US banks stunned by Volcker compliance regime
Non-US banks stunned by Volcker compliance regime
Regulators plan co-ops as answer to OTC fragmentation
CLS Bank-style regulatory council could be applied to trade repositories and CCPs to avert market fragmentation, but French regulators are not convinced
Risk USA: Sifi rules would be a failure if banks don't downsize
Some banks want to be on the list of global Sifis – exactly the opposite to what the rules are intended to achieve, says former chairman of the Basel Committee standards implementation group
Risk USA: US regulators “scared to death” by eurozone debt crisis
The sovereign debt crisis is a concern, but direct US bank exposure is manageable, says senior OCC official
Risk USA: European banks need to change or suffer consequences
European banks need to reduce mismatches between their risk appetite and the risk appetite of investors, says Deutsche Bank chief credit officer
CDS: not dead yet
CDS: not dead yet
People: Apra's Wayne Byres named to Basel role
Basel Committee appoints Australian regulator
Dealers predict CVA-CDS loop will create sovereign volatility
A recipe for disaster?