Central banks
On a slow road
Many in the energy industry are touting Italy as the next country in Europe to fully open its energy market to competition. But on closer examination, the country has a long way to go if it is to emulate the UK, the Nordic region and Germany. By Robin…
Approach with caution
Indicators of operational risk are not for the faint of heart, nor are they necessarily bearers of good news. But used properly and effectively, they can help businesses identify potential losses before they happen.
Op risk modelling evolves
Operational risk is devilishly difficult to model, but dealers and software vendors are making headway. Automated op risk reporting, profiling and sophisticated operational value-at-risk (VAR) modelling are finally beginning to catch-on in banks.
Basel II sets the pace for operational risk reform
Basel II is set to come into play in 2005, bringing a host of opportunities for vendors along with the new framework for banking supervision. Andrew Partridge examines the potential and some of the challenges for the suppliers and users of financial…
2002 the year ahead
Market overview
Bondholders rights: the gloves are off
Restructuring
Fighting fat-finger syndrome
TECHNOLOGY
Credit derivatives see six-fold increase in three years
The over-the-counter (OTC) credit derivatives market stood at $694 billion in June, a six-fold increase in the last three years, according to the latest global triennial survey released by the Bank for International Settlements (BIS) today.
HKMA to form direct link to Euroclear
The Hong Kong Monetary Authority (HKMA) and Euroclear plan to build a direct link between the HKMA’s central money markets unit (CMU) and the Brussels-based international central securities depository.
Deutsche and Fleet unveil $40 billion OTC deal
Deutsche Bank and the US' FleetBoston Financial have revealed one of the largest over-the-counter (OTC) derivatives deals in history. The portfolio deal, with a notional value of about $40 billion, was executed in June to protect Fleet from short-term US…
NY Fed notes high variations in stress testing across institutions
The magnitude of shocks used in stress testing by financial institutions varies substantially, the Federal Reserve Bank of New York (NY Fed) has said in a paper.
Will Germany scupper Basel II?
How real is Germany’s threat to veto the proposed Basel II bank capital accord if the country fails to get the concessions it wants on the accord’s treatment of bank lending to small to medium-sized companies (SMEs)?
Building for Basel
The 2005 implementation date for the new Basel II Accord – already postponed by a year – is looming large. Whilst the banking sector is steadily gearing up for the proposed changes, there are fears that some institutions may be left behind.
Building for Basel
The 2005 implementation date for the new Basel II Accord – already postponed by a year – is looming large. Whilst the banking sector is steadily gearing up for the proposed changes, there are fears that some institutions may be left behind.
A spanner in the works
The US and Germany are in a standoff over Basel II’s capital charge calculation for SME lending. Without a compromise this month, the issue threatens to derail implementation of the Accord and the European Directive.
Mezz funds facing supply scramble
Mezzanine
Building for Basel
Basel implementation
ICI prospects looking bleak
Limited upside potential
Asia’s ASP quandary
ASPs