Libor trial: latest news
Day-by-day coverage of Tom Hayes Libor trial
Regulatory changes put spotlight on UK auditors
The 2008 financial crisis was in part a failure of audit – and UK authorities are pushing to bring auditors to heel this year. But the reforms happening at national and EU level may not go far enough
Notes on alpha stream optimization
EU insurers lament barriers to infrastructure investment
Axa and AG Insurance say further infrastructure investment by insurers is unlikely in the foreseeable future
Scaling operational loss data and its systemic risk implications
Failing to adopt a scaling methodology when including external data in operational risk calculations could lead to a distortion of capital charges and possibly systemic risk in a banking system relying on consortium data. Here, Roberto Torresetti and Claudio Nordio propose a scaling methodology to help overcome these shortcomings and compare the outcome with respect to alternative methodologies on a real operational data sample
Project Colin: why Goldman-led margin hub fell apart
The world’s big dealers quietly started work on a new swaps market utility last year, dubbed Project Colin. The aim was to control the vast collateral flows arising from incoming bilateral margining rules, but the consortium has since fallen apart, and a coalition of middleware and back-office firms have stepped into the breach
Basel considers U-turn on fourth trading book QIS
Industry lobbying prompts regulator to revive plans for a further impact study
How banks handle and model emerging operational risks
Spreading the net wide enough to catch as many data sources as possible is key to tackling emerging risks, as is setting up a structure to handle the associated modelling and management problems
Do insurers need a CIO?
The UK regulator has proposed five ‘controlled function holders’ for insurers without including a chief investment officer. But the role is too important to overlook, says Scott Eason of Barnett Waddingham
Firms weigh benefits as EU power market coupling expands
Day-ahead power market coupling has been in operation across the North West Europe region for over a year. To what extent has it helped prices converge, and what are the next steps aimed at bringing Europe’s electricity markets closer together?
EC’s Hill points to April 2016 start for swaps clearing
EC and Esma have agreed rules – legislators now have six months to endorse them
Geeks at the gates
Hampered by increasingly complex regulations, as well as the cost and inertia of inefficient legacy systems, banks are facing growing competition from innovative non-bank organisations. Unless they start to confront the mission-critical importance of transforming their technology, could they face death by a thousand cuts?
Risk aggregation remains challenging in Asia
Growing complexity reinforces importance of risk aggregation – but obstacles in Asia remain
Annual collateral management survey now open
Take part in BNY Mellon/Insurance Risk study on impact of central clearing for insurers
A simple, transparent and rational weighting approach to combining different operational risk data sources
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