Opinion
The three lines of defence: a health warning
Effective risk management is more important than what your organisational chart looks like
CCP failure, CVA gaps and passporting
The week on Risk.net, August 12–18, 2016
What’s good for the City is bad for UK commodity firms
In effort to retain passporting, Brexit negotiators may sacrifice commodity traders
What a star 1,480 light years away can teach risk managers
Amateur astronomers’ discovery shows value of humans over algorithms
Cat bonds can help combat the systemic risks of CCPs
Bonds could pre-fund CCP default funds and higher margins during market stress, authors argue
Gaap, subordination and the cost of connection
The week on Risk.net, August 5–11, 2016
Brexit lessons on handling redemption runs
July experience shows fund suspensions can be used without spillover effects
State Street sees double whammy of op risk losses
Megan van Ooyen from SAS rounds up the top five op risk losses for July
Chinese CDS, margining and UBS
The week on Risk.net, July 29–August 4, 2016
VAR versus expected shortfall: why Priips has got it wrong
Hardwiring of older risk measure into Priips means risk ratings could mislead investors
Sense and sensitivities: Isda Simm is not so simple
Three industry experts argue initial margin calculations for uncleared trades won't work without centralised calibration of sensitivities
Why not having AAD needn’t be the end of the world
Optimisation method offers quicker and more focused way of making XVA calculations
Eurozone must lead search for doom-loop fix
Basel Committee working on sovereign risk, but eurozone has most at stake
Banks must embrace their digital destiny
Alexander Lipton believes the time is right for advanced digital banks to take the industry forward, and quants can lead the charge
Smart contracts, Brexit and sovereign risk
The week on Risk.net, July 22–28, 2016
Repo, MVA and securitisation
The week on Risk.net, July 8–14, 2016
Netting risks create pricing and operational headaches
Oversight of legal risks is not always robust
$1.5bn subprime hit at HSBC dwarfs other op risk losses
Megan van Ooyen from SAS rounds up the top five op risk losses for June
What Brexit teaches operational risk management
Receptiveness, resilience and reflection are crucial for avoiding nasty surprises
Shanghai clearing, mis-selling and shadow banking
The week on Risk.net, July 8–14, 2016
Brexit is a tragedy for EU financial services regulation
Loss of influence belies critical role UK played in crafting sensible financial rules
Brexit, AMA and CCP collapse
The week on Risk.net, July 1–7, 2016
No need to be negative about negative prices
Electricity prices falling below zero are not a sign of end times, but a valid price signal
Brexit gives banks a taste of life without AFS bond filters
Liquidity buffer valuations now key concern during stress events