Opinion
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
CDS pricing
Talkingpoint
LBO risk
Market Graphic
Looking for hidden options
Editor's letter
Aftershocks of the Big Bang
At the end of October, the City of London celebrated the 20th anniversary of the 'Big Bang' – the first big deregulation of the financial services industry in the UK.
Validating EPE
Empirical validation of trading credit exposure simulation models is clearly essential. David Rowe points out, however, that the process must differ significantly from traditional back-tests of VAR models
Editor's letter
Comment