Operational risk
Losses and lawsuits
LOSS DATABASE
US investment banks create myriad problems for Basel II
REGULATORY UPDATE
CP189: the FSA yet to clarify rules for key op risk issues
REGULATORY UPDATE
FSA study shows wide gap in firms’ op risk frameworks
IMPLEMENTATION OUTLOOK
Cad text horrifies credit agencies
REGULATORY UPDATE
What’s coming, and when
REGULATORY UPDATE
Zions Bank goes it alone
IMPLEMENTATION OUTLOOK
Flurry of activity at the PCAOB
REGULATORY UPDATE
Job Moves
People
Emerging adequacy
The Committee of Chief Risk Officers' capital adequacy 'emerging practice' guidelines will, says the capital adequacy committee chair, evolve into a new regulatory body within a year.
Accord preparations: the rest is yet to come
While the debates have raged for months about many aspects of the proposed Basel II Accord, on some points there has been relative silence, in particular with regard to the seeming overreliance on statistical techniques.
Moody's KMV integrates credit risk management
Moody's KMV has announced the integration of its credit risk products – RiskCalc and Credit Monitor – into one credit risk management platform.
Sarbanes grills Brickell over Ofheo nomination
The US Senate Banking Committee held a hearing on Mark Brickell's nomination for director of the Office of Federal Housing Enterprise Oversight (Ofheo), the regulator for government-sponsored enterprises (GSE) Fannie Mae and Freddie Mac, this afternoon.
FSA shakes up capital rules for UK insurers
The UK's main financial regulator, the Financial Services Authority (FSA), has released proposals for a shake-up of its capital regime for non-life insurers.
Corporate Governance Survey 2003, Part 2 >>Corporate governance disclosure: banks focus on bolstering infrastructure
In the second part of Operational Risk's review of 15 bank annual reports for 2002, the editors look at how firms have chosen to address the hot button issues of corporate governance, reputational risk and legal risk. Again, practices vary widely among…
Preparation, quantification, implementation
While the South African Reserve Bank is in favour of Basel II, those tasked with preparing for the new capital accord are in no doubt that the risk quantification challenges presented by it are daunting.
All in Accord
South Africa's banks are taking Basel II seriously. Clive Davidson discovers what they are doing to prepare for its implementation, and how they are meeting the many challenges of the new capital accord.
Operational risk modelling: aggregating loss distributions using copulas
Capturing the dependence structure between business line/risk event types is an extremely important step for any serious attempt to model operational risk. In this article we show how this can be achieved by using a powerful statistical technique known…
Hong Kong to adopt loose approach to Basel II
The Hong Kong Monetary Authority, the financial regulator for the special administrative region of China, will not be mandating that certain types of banks adopt certain portions of the revised Basel Accords, according to a speech by Simon Toping,…
US regulators issue their advance notice of proposed rulemaking
US regulators published the much-awaited advance notice of proposed rulemaking (ANPR) late on Friday afternoon, after a meeting of the Board of Governors of the Federal Reserve.
Standard & Poor's enters portfolio risk modelling
Standard & Poor's (S&P) Risk Solutions has launched a portfolio risk tracker model. The model covers both credit and market risk, which should allow banks to calculate their economic capital and perform risk assessments across the full range of risks…