News/Risk management

Greenspan defends Fed’s role in tech bubble

The US Federal Reserve’s chairman, Alan Greenspan, claimed that it is far from obvious that a bubble, even if identified early, can be pre-empted by a central bank without inducing a substantial contraction in the economy, but conceded that better models…

Over-reliance on risk models a danger, says Lawrence

Financial institution risk managers must be wary of relying too heavily on risk models and systems, according to Mark Lawrence, chief risk officer at Australian bank ANZ, speaking at Risk Waters Group’s third annual Risk Australia conference in Sydney…

Op risk floor removed to give flexibility

BASEL, SWITZERLAND - Global banking regulators have removed the operational risk capital floor previously proposed under the Basel II capital accord to give banks flexibility in developing op risk management systems.

UK accepts large banks could use basic op risk approach

LONDON - The UK’s chief financial market watchdog said in July it accepted that a large international bank could use the basic indicator approach, the simplest of the three approaches to calculating operational risk capital charges proposed under the…

Nash joins the Royal Bank of Scotland

Ralph Nash, previously with the secretariat of the Basel Committee on Banking Supervision in Basel, Switzerland, joined the Royal Bank of Scotland (RBOS) in July as London-based Basel II operational risk co-ordinator for the RBOS group.

Economist questions banks’ approach to VAR analysis

Bank risk managers must use more intra-day price data – also referred to as high-frequency data – to improve their value-at-risk analyses, according to Richard Olsen, an economist and founder of Zurich-based hedge fund and risk services company Olsen.

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