Opinion/Risk management
A model of self-regulation
Comment
GAO report: common sense with a twist
The new report from the US's Government Accountability Office has much common sense in it.
The stress-testing trident
While stress testing is a much discussed topic, an accepted definition of best practice remains elusive. David Rowe proposes a three-pronged approach
A kick up the backside
Just what are the world's regulators doing to help move forward the discussion around operational risk?
A gathering storm?
US default rates for high-yield bonds have remained surprisingly low over the past three years. Some argue this indicates that the world has changed, but we have heard this story before, argues David Rowe
Talkingpoint - 2007 outlook
Change is in the air for 2007. A deterioration in credit quality and concomitant rise in default rates may presage a tough year. We asked five leading market participants for their outlook
Back to basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask... In the second of a two-part series on credit derivatives, Saul Doctor, analyst at JPMorgan in London, discusses next-level CDS
A state of equilibrium
Flows in the tranche market have balanced out - at least for now. Our US columnist StreetCred wonders whether valuation discrepancies may soon upset the applecart
A view on 2007
Viewpoint
The advancing tide of rationalisation
Rationalisation, rationalisation, rationalisation. There is no denying it, this is the major theme in operational risk in the US at the moment, and it is a trend that is spreading to Europe as well.
Prescription vs. principles
Over the past decade, the shift of supervisory practice from prescription towards a principles-based approach has been dramatic. This was a valuable and necessary change, but it has also greatly complicated retaining qualified supervisory staff, argues…
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
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