ECB focuses on liquidity
ZURICH - "The current crisis has reminded us not to rely on fair-weather risk management," said Roberto Schiavi, head of the investment division at the European Central Bank (ECB), at last week's (March 24) FX Invest Europe conference in Zurich.
Looking at just a few years of historical data "can lead us to underestimate risks" Schiavi said. To guard against this, he championed the increased use of stress testing and scenario analysis, combined with expert judgement, to help aid risk management
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