News/Risk management
Regulators could stifle retail derivatives development, warns speaker
Overly strict financial regulations could stifle the development of derivatives products for retail investors, warned a keynote speaker at an international derivatives conference today, co-hosted by the Futures and Options Association (FOA) and the…
Risk USA 2003: Loan managers increasingly rely on credit derivatives, says CIBC's Bennett
Stephen Bennett, global head of portfolio management at Canadian Imperial Bank of Commerce (CIBC), believes credit derivatives are playing an increasingly important role in the loan market, both as hedging instruments and by helping facilitate mark-to…
Risk USA 2003: Schachter hits out at hedge fund disclosure
Barry Schachter, head of risk management at US hedge fund Sac Capital Advisors, believes quantitative hedge fund information disclosure to investors is relatively meaningless, and that they would be better served by disclosures about the risk management…
Risk USA 2003: Loan managers increasingly rely on credit derivatives, says CIBC's Bennett
Stephen Bennett, global head of portfolio management at Canadian Imperial Bank of Commerce (CIBC), believes credit derivatives are playing an increasingly important role in the loan market, both as hedging instruments and by helping facilitate mark-to…
Risk USA 2003: Jarrow describes new research on liquidity risk
Robert Jarrow, professor of finance and economics at Cornell University and an originator of the seminal Heath-Jarrow-Morton interest rate term-structure model, has described a new method for incorporating liquidity risk - the additional price volatility…
US foreign exchange dealers revise operational risk standards
The Foreign Exchange Committee, a 20-dealer industry liaison group to the New York Federal Reserve Bank, has made new recommendations for the exercise of in-the-money foreign exchange options in a revision to its 1996 forex operational risk best…
Hancock calls for more enterprise-wide risk management
Peter Hancock, the former chief financial officer and head of risk management at JP Morgan, who now runs financial boutique Integrated Finance, believes risk managers should spend more time developing enterprise-wide risk systems that can help top…
Carr kicks off quant presentations at Risk USA in Boston
Peter Carr, recipient of Risk 's 2003 quant of the year award, discussed the pricing and hedging of volatility derivatives in the first of a series of quantitative modelling talks at Risk USA today.
Banks not ready for advanced IRB, says Trema speaker
Many international investment banks are not yet ready to implement the advanced internal-ratings-based approach to measuring credit risk, according to a controversial speaker at this week's Trema World Forum in Monaco.
Securitisation will not be damaged by Basel II, says Mercer Oliver Wyman
Securitisation and related forms of credit risk transfer are unlikely to suffer in the long-term under the Basel II proposals, according to a report published today by financial and risk management consultancy, Mercer Oliver Wyman.
Lehman to launch credit default swap indexes
Lehman Brothers plans to launch a number of credit default swap indexes covering the US, Europe and Japanese credit default swaps (CDS) market by July.
Fed links op risk and disclosure
WASHINGTON, DC - Two Federal Reserve speeches in May highlighted the links between corporate governance and risk management.
Basel Committee conference solidifies support for Pillar I approach
The long-awaited conference on operational risk issues, organised by the Basel Committee on Banking Supervisions' risk management group, helped solidify support among both bankers and international regulators for the inclusion of operational risk in…
Risk's Basel II Forum > Patricia Jackson to give keynote address
Patricia Jackson, the Bank of England's Special Advisor on Financial Stability, will be giving a keynote address at Risk magazine's first Basel II Forum ( www.risk.net/baselforum ).
Prop desks set to reap rewards of forex volatility
Banks could be reaping rewards from their proprietary foreign exchange trading desks, as swift intra-day market moves continue, dealers told RiskNews ’ sister publication FX Week .
Ferc calls for risk manager vigilance
The director of the office of market oversight and investigations (OMOI) at theUS Federal Energy Regulatory Commission (Ferc), has urged energy risk managersto alert his office to any suspicious market practices.
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Abbey National snaps up Op risk solution from Raft
UK bank Abbey National has purchased raft radar, an operational risk management system from London-based software provider Raft International.
Basel Committee publishes additional QIS3 results
The Basel Committee on Banking Supervision has published additional statistical data from the third quantitative impact study (QIS3), which was originally released on May 5.
Fed's Ferguson says Basel II will apply to 20 US banks
The number of US banks expected to implement Basel II is now likely to be twice the number unveiled to a stunned international banking community during Congressional testimony in February, Roger Ferguson, vice-chairman of the US Federal Reserve, has told…