Can Citi’s XVA desk help solve risk data failings?
Resolution plan reviews exposed material limitations in banks’ ability to unwind derivatives
Risk management experts say Citi needs a more joined-up approach to distributing risk information within its organisation if it is to avoid further regulatory scrutiny by US federal regulators – and its derivatives valuation adjustment (XVA) desk might hold the key.
“If you have one group in the bank which can help you with the task – presumably their XVA desk – where you otherwise publicly and embarrassingly fail, then you should use it. Maybe that should be their plan,” says Dmitry Pugachevsky
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