Central banks
Pricing debate bedevils employee option accounting
US corporates are lining up to advertise their virtue by being the latest to account for their employee stock options as an expense. But with no consensus on how to price these instruments, will it bring more clarity or confusion?
Bank of England’s Allsopp questions role of interest rates in bubbles
Christopher Allsopp, a member of the Bank of England’s monetary policy committee (MPC), has cast doubt on the effectiveness of using interest rates to head-off asset price bubbles.
Correlation and credit risk
Active development of full credit portfolio modelling continues apace, even though it is not recognised in the proposed Basel II framework.
Red hot in the frozen North
Hedge funds
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…
Ford: spanner in the works?
Credit of the month
Milan’s new collections
Italian securitisation
Meeting in the middle
Cover story
High-grade dreams
Special report Russia
Euro derivatives in the Nordic markets
Sponsor's Statement
CMBS in the Nordic region
Sponsor's Statement
Buying and selling risk
Risk budgeting
One of the few
Profile
Isda in Japan documentation change
New angles
ISS introduces new user protection software
TECHNOLOGY
CLS currency settlement system goes live
FRONT PAGE NEWS
Losses and lawsuits
LOSS DATABASE
Correlation and credit risk
Active development of full credit portfolio modelling continues apace, even though it is not recognised in the proposed Basel II framework. An important issue is the relationship between probability of default and loss-given default. In this last of four…