Algorithmics has submitted a comprehensive response to the Basel Committee on Banking Supervision, supplying an analytical review of the Guidelines for Computing Capital for Incremental Risk in the Trading Book proposed in July 2008. While commending the Committee for its prompt action in response to the credit crisis, as it stood in July, Algorithmics expressed some concerns whether the implementation of the proposed rules would be consistent with the Committee’s stated objectives in a number of areas. Substantiating its concerns with several detailed technical documents, Algorithmics suggested further consideration of those rules. Michael Zerbs, President and COO, Algorithmics, said: “We believe the extension of the incremental charge to cover default, migration, spread and equity risks – including correlations within and across those risks – is an instrumental step in managing the real risks faced by institutions today. The proposed changes are likely to result in a more comprehensive and risk-sensitive capitalisation standard for the trading book. Many of our clients already examine such risks for management purposes.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.