Central banks
Factoring in stock options
In the wake of recent corporate scandals, support has spread rapidly for including the cost of employee stock options as an expense item in corporate income statements. David Rowe argues that while some reform is appropriate, present trends could end up…
New double-counting methodology responsible for greater-than-expected rise in credit derivatives
The International Swaps and Derivatives Association’s mid-year survey of the over-the-counter derivatives market showed a substantial increase in credit derivatives notional volumes, growing from $918.9 billion at the end of 2001 to $1.6 trillion at mid…
Reinventing the market
Cashflow CDOs
CDS: the quest for neutral pricing data
Price data services
Insurance sector: moral hazard
Credit of the month
Credit Crunch!
Clive Horwood
Watching for pitfalls
Credit derivatives law
Corporate risk manager of the year
Asia Risk Awards 2002
BIS seeks replacement for Crockett
BASEL II UPDATE
Learning the lessons
Risk’s quarterly round-up of corporate risk revelations shows that increasing shareholder and regulator expectations in the wake of US accounting scandals are having some effect on corporate disclosure, but companies still complain about losses from…
Pricing debate bedevils employee option accounting
US corporates are lining up to advertise their virtue by being the latest to account for their employee stock options as an expense. But with no consensus on how to price these instruments, will it bring more clarity or confusion?
Bank of England’s Allsopp questions role of interest rates in bubbles
Christopher Allsopp, a member of the Bank of England’s monetary policy committee (MPC), has cast doubt on the effectiveness of using interest rates to head-off asset price bubbles.
Correlation and credit risk
Active development of full credit portfolio modelling continues apace, even though it is not recognised in the proposed Basel II framework.
Red hot in the frozen North
Hedge funds
Greenspan defends Fed’s role in tech bubble
The US Federal Reserve’s chairman, Alan Greenspan, claimed that it is far from obvious that a bubble, even if identified early, can be pre-empted by a central bank without inducing a substantial contraction in the economy, but conceded that better models…
Ford: spanner in the works?
Credit of the month
Milan’s new collections
Italian securitisation
Meeting in the middle
Cover story
High-grade dreams
Special report Russia
Euro derivatives in the Nordic markets
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