Opinion
A state of equilibrium
Flows in the tranche market have balanced out - at least for now. Our US columnist StreetCred wonders whether valuation discrepancies may soon upset the applecart
The joys of outsourcing
Editor's Letter
A view on 2007
Viewpoint
The advancing tide of rationalisation
Rationalisation, rationalisation, rationalisation. There is no denying it, this is the major theme in operational risk in the US at the moment, and it is a trend that is spreading to Europe as well.
Prescription vs. principles
Over the past decade, the shift of supervisory practice from prescription towards a principles-based approach has been dramatic. This was a valuable and necessary change, but it has also greatly complicated retaining qualified supervisory staff, argues…
Editor's Letter
Editorial
No cherries left to pick
Selectivity is all well and good when there are viable names to choose from. But what happens when the whole market looks like a negative bet, asks Toby Nangle
Ratings transition matrices
Market Graphic
D-day approaching
The day of reckoning in the credit markets (D-day, or Default Day) is looming, says Amy Falls. The question is not if but when and - as importantly - why?
Jose Antonio Olavarrieta
The chairman of Spanish securitisation originator Ahorro y Titulizacion gives Credit the lowdown on their recent innovative future flow transaction
Commercial real-estate CDOs
Talkingpoint
The pathways to probability
Editor's letter
Un anno di transizione
Commento
Operational risk at a crossroads
Just where is operational risk going? This is the question that, in one form or another, seems to be dropping from the lips of most executives in the field these days. People are clearly worried.
From VAR to stress testing
Implementation of enterprise-wide VAR models in the 1990s was an important risk management advance, but it's time to rethink some fundamental aspects of how they were designed, argues David Rowe
Credit concerns
Editor's letter
Editor's letter
Editorial