Operational Risk

Economics should drive change

The decision to include foreign exchange swaps and forwards in the US over-the-counter derivatives reform bills run counter to research conducted by central bank-backed foreign exchange committees.

Banca Italease restructures after losses

MILAN – Banca Italease is to reorganise its risk management and control processes, following the announcement of a net loss of €686 million ($937 million) from its derivatives business.

All change for CLS management

LONDON and NEW YORK – CLS has announced a shake-up of its senior management and the forthcoming departure of chief executive Joseph De Feo.

AIB repays e 26m for overcharging

Customers to be repaid as regulator's report details AIB's "failures" DUBLIN – Allied Irish Banks (AIB) said it is repaying e 26 million ($32 million) it overcharged clients on three million FX deals, after a regulator slammed the bank in a report last…

Advanced IRB Basel II approach delayed

BASEL – The Basel Committee on Banking Supervision has said that implementation of the advanced internal ratings-based approach (IRB) for credit risk and the advanced measurement approach (AMA) for operational risk will be delayed until the end of 2007…

NAB "collusive broker" speculation grows

MELBOURNE -- Cantor Fitzgerald last week refused to comment on growing speculation that it is the broker referred to in two reports into National Australia Bank’s A$360 million (US$280 million) forex options losses.

US sets trend for high bonuses

NEW YORK -- Global commercial banks are expected to award bumper bonuses in the next three months, following a pattern set by the US investment banks in December.

Bumper bonuses expected

LONDON -- Forex bonuses in the new year look set to outstrip 2002 payouts by up to 40%, traders and recruiters told FX Week .

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: