News/Regulation
Trichet calls for more transparency, especially for credit derivatives
Jean-Claude Trichet, governor of the Bank of France, said transparency is essential to prevent a “herd mentality” in the financial market that can create artificial swings in market prices. During a keynote address at the Professional Risk Managers’…
Standardised approach may receive op risk charge cut, says ECB official
The operational risk charge related to the Basel II ‘standardised approach’ may be cut in the third consultative paper (CP3) due for release next month by the Basel Committee on Banking Supervision, according to Panagiotis Strouzas, a senior expert in…
JP Morgan Chase launches Janice to track Japanese credit derivatives
JP Morgan Chase has launched a new index that will track Japanese credit default swaps. Called JPMorgan All Nippon Index of Credit, or Janice, the index is the average of the spreads on the 45 most liquid credit default swaps of Japanese companies and…
UBS: QIS3 results in increased capital, is not "fair"
UBS, the Switzerland-based financial institution, says its overall capital will increase under the Basel Accord revisions, as currently outlined in the third quantitative impact study (QIS3). In addition, other institutions have had the same results, the…
New FSA chairman appointed
A new chairman of the UK's Financial Services Authority was announced yesterday by Chancellor Gordon Brown.
Canada eyes shift to mark-to-market accounting
The Canadian Accounting Standards Board has entered into a consultation period to assess proposed new accounting rules aimed at improving how financial instruments are reported in financial statements.
BIS report highlights asset managers' role in inefficient markets
The structure of incentive schemes may limit the ability or willingness of institutional asset managers to act as a natural counterbalance to mispricing, according to the Committee on the Global Financial System (CGFS) – a G-10 central bank forum that…
IMF study shows Basel weaknesses in offshore centres
Many offshore centres have weaknesses in the on- and off-site supervision of their banking systems, as well as "less material weaknesses" in their credit supervision and market risk, according to a study by the International Monetary Fund (IMF).
Korea opens retail market
New angles
S&P and RDB launch SME CreditModel in Japan
Standard and Poor's (S&P) Risk Solutions and the Risk Data Bank of Japan (RDB), a credit risk data provider, have launched a new advanced default probability model that assesses the creditworthiness of small and medium-sized (SME) Japanese enterprises.
S&P and RDB launch SME CreditModel in Japan
Standard and Poor’s (S&P) Risk Solutions and the Risk Data Bank of Japan (RDB), a credit risk data provider, have launched a new advanced default probability model that assesses the creditworthiness of small and medium-sized (SME) Japanese enterprises.
BIS report highlights asset managers’ role in inefficient markets
The structure of incentive schemes may limit the ability or willingness of institutional asset managers to act as a natural counterbalance to mispricing, according to the Committee on the Global Financial System (CGFS) – a G-10 central bank forum that…
Fitch Risk launches Credit Rating System
CreditVantage, the credit risk management division of Fitch Risk, has launched Credit Rating System (CRS), a suite of credit rating products designed to assist banks in implementing industry best practices in their credit analysis and capital allocation…
No change to retail hedge fund regulations, says FSA
The Financial Services Authority (FSA), the main UK financial services regulator, has said it will not change regulations relating to the marketing and distribution of hedge funds to retail investors in the UK.
No change to retail hedge fund regulations, says FSA
The Financial Services Authority (FSA), the main UK financial services regulator, has said it will not change regulations relating to the marketing and distribution of hedge funds to retail investors in the UK.
Fitch Risk launches Credit Rating System
CreditVantage, the credit risk management division of Fitch Risk, has launched Credit Rating System (CRS), a suite of credit rating products designed to assist banksin implementing industry best practices in their credit analysis and capital allocation…
FSA releases operational risk feedback
London - The Financial Services Authority (FSA) should continue issuing operational risk guidance rather than rules, according to the majority of respondents to the UK regulator’s July 2002 consultation paper on operational risk.
Merrill to settle its forex trades via Citi
Citigroup has won a coveted deal to settle Merrill Lynch’s forex trades on its behalf on the new Continuous Linked Settlement (CLS) service for FX.
Driving down fixed costs
Outsourcing could be the key to institutions keeping up with the cost of installing technologies able to cope with CLS, Basel II and STP, and could provide a vital comfort zone in future-proofing your IT.