Risk magazine
Curbing controls
BOCHK's chief risk officer, Alex Cheung, talks to Kathleen Kearney
Staying out of harm's way
Catastrophe Bonds
If it's broke..
Economic capital models
Isda prepares to settle CDSs on failed banks
The International Swaps and Derivatives Association (Isda) has launched its settlement protocol for credit default swaps (CDSs) based on the US government-backed mortgage institutions Fannie Mae and Freddie Mac.
Senior management shake-up at SG
Société Générale made several senior appointments today as part of a reshuffle of its senior management.
ALM Europe: Basel II move "a traumatic event"
Echoing concerns about the burden of new regulations on a struggling banking sector, Ian Tyler, Tesco Personal Finance's treasurer, said that introducing Basel II capital adequacy rules at the bank had been "a traumatic event".
Interbank lending suffers as $700 billion rescue vehicle breaks down
Pressure on the interbank lending markets intensified today, after Congress rejected the US government’s bailout plan.
Month of bailouts continues with Dexia rescue
European bank Dexia, listed on the French and Belgium stock exchanges, on Tuesday received a €6.4 billion capital injection in exchange for shares from the governments of Belgium, France and Luxembourg as well as private investors.
ALM Europe: "Fear and laziness" caused crisis
Banks are making their situations worse by refusing to do the due diligence required to lend in the interbank market, Dutch central banker Maarten Gelderman told the Risk ALM Europe conference in London today.
Nationalisation remedy prescribed for B&B and Fortis
After another dramatic September weekend, British lender Bradford & Bingley (B&B) became the second UK bank this year to be nationalised, while pan-European financial services group Fortis received a massive capital injection from the governments of…
Citigroup to acquire Wachovia
Citigroup announced today it would buy the banking operations of Charlotte, North Carolina-based bank Wachovia for approximately $2.16 billion in stock.
Failure of $700bn bailout sparks equity slump
US equity markets have experienced their biggest one-day drop in history following the failure of the US Congress to pass legislation that would have empowered the Treasury department to buy up to $700 billion in mortgages and other assets from…
CDS spreads push out as bailout drags on
The cost of protection on some of the world’s largest dealers surged on Friday as uncertainty grew over the US government’s $700 billion plan to purchase devalued assets from financial institutions.
ALM Europe: "Stress testing must be overhauled"
The future of financial risk management will be determined by stress testing, but the methods used are in desperate need of an overhaul, delegates at the Risk ALM Europe conference in London heard today.
Call for Risk technical papers
Risk invites contributors to join the ongoing debate within the quant community on topics particularly relevant in the current market situation. The Cutting Edge section welcomes the submission of technical articles and brief communications investigating…
Bailout saga pushes CDS spreads ever wider
After another tumultuous 24 hours that saw talks stall on the US government’s $700 billion plan to purchase devalued assets from financial institutions and the forced closure of Washington Mutual, credit default swaps (CDSs) for major dealers continued…
JP Morgan acquires Washington Mutual
JP Morgan has stepped in to acquire Washington Mutual for $1.9 billion, after the Seattle-based bank was closed by US regulators on Thursday evening.
Stress testing next on the agenda for Basel Committee
With the need for more qualitative assessments of risk becoming ever more paramount in the wake of the credit crisis, the Basel Committee for Banking Supervision is working on a consultation paper on stress testing.
Strain eases on interbank lending
After a turbulent week, pressure on the interbank lending markets eased today as further injections of liquidity were announced and talks on the US financial rescue package resumed.
Isda survey points to slowing credit derivatives market
The notional amount of outstanding credit derivatives dropped 12% to $54.6 trillion at the end of June 2008, from $62.2 trillion at the end of 2007, according to the mid-year market survey from the International Swaps and Derivatives Association (Isda).
CDS spreads widen further following bailout delays
Credit default swap (CDS) spreads on financial institutions widened on September 23, as uncertainty grew over the US government’s plans to purchase $700 billion of devalued assets from financial institutions.
Sallie Mae names new chief credit officer
Sallie Mae, the US student loan company, has appointed David West as chief credit officer.
JP Morgan launches mobile forex platform
A new proprietary e-trading platform that allows clients to access real-time executable streaming foreign exchange rates (forex) from their desktops and Blackberry devices was launched on Wednesday by JP Morgan.
Cox calls for CDS controls
Christopher Cox, Chairman of the US Securities and Exchange Commission (SEC), has called for greater regulation of the credit default swaps (CDS) market.