Trading Book vs Banking Book: Where FRTB Draws the Line
In our first article, we saw that a porous boundary between the trading book and the banking book was one
What Is FRTB? The Story Behind the New Market Risk Capital Rules
Every bank that trades bonds, equities, currencies, commodities, or derivatives has to answer one uncomfortable question every single day: how
Seven Prime Ministers in Ten Years — What Britain’s Political Instability Costs Its Economy
Background: how Britain arrived at its seventh Prime Minister in a decade To understand what Andy Burnham inherits today, you
Spain Are FIFA World Champions — What the 2026 World Cup Final Means Beyond the Scoreline
Background: the stage, the format, and what was at stake The 2026 FIFA World Cup was always going to be
Historical Simulation VaR: Complete Step-by-Step Guide
Quick Recap: One Method Down, Two To Go The previous article in this series covered the Parametric (Variance-Covariance) method —
Parametric VaR (Variance-Covariance Method): Complete Step-by-Step Guide
Quick Recap: What VaR Measures In the first article of this series, we defined Value at Risk (VaR) as a
When Disaster Hits a Fragile State — Venezuela’s Earthquake and the Economics of Compounding Risk
Background: Venezuela before the disaster — a pre-existing crisis To understand why these earthquakes are so catastrophic, you must first
The Ceasefire Is Dead — What the Renewed US-Iran War Means for Oil, Markets, and Global Risk
Background: what happened in the months before the ceasefire broke down? To understand why this week’s events matter so much,
SA-CCR – Adjusted Notional – All Asset Classes
Introduction Every ADCA in SA-CCR begins with one number: the Adjusted Notional. Before Supervisory Delta, Maturity Factor, or Supervisory Factor
SACCR – Maturity Factor – Margined, Unmargined, STM and Product Exceptions
Introduction In our SA-CCR series, every Adjusted Derivative Contract Amount (ADCA) is the product of four components: Adjusted Notional, Supervisory