Exchanges

Regulator hits back at Basel II critics

Much of the complexity for which the Basel II bank capital accord is criticised is the inevitable result of three highly desirable features of the pact - namely, risk sensitivity, wide applicability and the shifting of the task of risk measurement to…

Changes afoot at rating agencies

Rating agencies are under fire once again, this time for failing to anticipate Enron’s bankruptcy. But they are looking to improve their methodology. What do the changes mean for banks that will have to rely on their ratings under Basel II?

Books | The equities architect

Structured Equity Derivatives, the Definitive Guide to Exotic Options and Structured Notes by Harry Kat, John Wiley & Sons. 392 pages, $89.95. ISBN 0–461–48652–3

The risk breaker

To claw its way back from its problem-loan nadir in the late 1990s, Bank of America embraced risk-adjusted return metrics and credit risk distribution techniques. Amy Brinkley is overseeing its turnaround.

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