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Operational risk

Banks get stressed

The UK's Financial Services Authority has called on banks to improve stress testing of possible disruptive events, while the Basel Committee declared last year that firms must supplement their value-at-risk models with stress tests. But some bankers…

MiFID Level 2 text on the table

BRUSSELS – In early February, the European Commission tabled formal draft proposals for the Markets in Financial Instruments Directive (MiFID) Level 2 text, detailing new trade reporting and transparency requirements for securities industry participants.

The fat tail

Minh-Tri Nguyen and Martin Ottmann aim to quantify op risk with multi-stage curve fitting and extreme value theory applied with the loss distribution approach

FSA publishes second CRD paper

LONDON – The UK Financial Services Authority indicates its intention to implement both the qualitative and quantitative aspects of the Basel II framework robustly in its new consultation paper on the Capital Requirements Directive , published in late…

Further delays hit US Basel II implementation

WASHINGTON, D.C. – The US process for Basel II was thrown into chaos yet again by the passage of a new law on the Federal Deposit Insurance Corporation that includes provision for a one-year study. The net effect of the legislation is said to be the…

FSA simplifies training and competence rules

The UK Financial Services Authority has confirmed that its detailed rules on training and competence (T&C) will not apply from next year to those individuals in financial firms who deal only with wholesale or non-private customers.

Coping with setbacks

Most risk managers and employees in energy companies are familiar with the concepts of market risk and credit risk, but operational risk is receiving more attention in corporate boardrooms these days, writes Sandy Fielden

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The new man at the helm of the US economy

Fed chairman Ben Bernanke's maiden testimony in February reassured the bond markets with soothing tones of continuity with the Greenspan era. But with question marks still hanging over his inflation policy, and how much of an impact his personal style of…

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