ERisk ESSENTIALS --
What's New at ERisk.com, 19 October 2001


WEEKLY REVIEW
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This week&#8217;s economic, banking and P&C insurance news from an enterprise risk management perspective: anthrax fears loom over markets; mixed news on corporate earnings; US banks report third-quarter results; Fed governor speaks out on Basle responses; US insurance regulators scrutinise Lloyd&#8217;s solvency; White House releases proposals on terror cover.

ANALYSIS
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The $1 trillion credit derivatives market has been through a testing time recently. The bankruptcies of Swissair and the UK's Railtrack &#8211; both companies with actively traded default swaps &#8211; have focused attention on the efficiency of the market. So far, things seem to be working fine. But concerns are growing about some of the issues surrounding coverage for convertible bonds. In this week's banking analysis, ERisk's Duncan Woods investigates.

FEATURE
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How to get credit systems up to scratch will be the big issue in banking in 2002, and the same problem is already occupying many energy risk practitioners. But why are some credit system projects successful, while others fail? And are software vendors the providers of a 'solution' or purveyors of hot air? In this exclusive ERisk feature, Karl Sees, principal at CreditRisk Advisers, sounds out banking and energy practitioners on the ingredients for a successful project.

RESEARCH ARCHIVE
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It's time to get serious about credit risk modelling, so we've added more links to recent papers to the Credit Risk section of our Research Archive. You'll find new work on modelling sovereign default, high-yield debt, default model verification, a recent reprise of the KMV approach to default modelling and more. We're also adding papers on business risk, market risk and ERM - so visit the Archive to check these topics out soon.

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