Nos derniers articles

This paper discusses the efficiency, effectiveness, and costs of #denmark's #antimoneylaundering (#aml) #compliance standards. Although the country has caught up with international standards, the current global AML compliance system is ineffective in deterring #moneylaundering by professional actors. The system imposes significant costs on #banks and society, while spending too much time on minor infractions. To improve the system, the author argues for a #risk-based approach that automates large portions of the compliance process and allows compliance staff to focus on investigations.

"The convex combination of the distortion #risk #measurement is constructed from the perspectives of #insurer and #reinsurer."

"The research findings revealed that still people do not pay due importance to the #lifeinsurance policy, they prefer other #financialialinstruments, such as #bank deposits, #mutualfunds, the #stockmarket, and some others... The buyers treated life #insurance as an #investment and #taxsavings instrument instead of a #risk coverage instrument."

#riskmanagement#geopoliticalrisk"The frequency of economic and #financialcrises is not increasing, but #politicalcrises can make #economiccrises more likely. The paper suggests that feedback between non-economic and economic crises can be important, but there is no comparable evidence for #climaterisk."

We offer a #datadriven theory of #belief formation that explains sudden surges in economic #uncertainty and their consequences. It argues that people, like #bayesian econometricians, estimate a distribution of macroeconomic outcomes but do not know the true distribution. The paper shows how real-time estimation of distributions with non-normal tails can result in large fluctuations in uncertainty, particularly related to tail events or "black swans." Using real-time GDP data, the authors find that revisions in estimated #blackswan #risk explain most of the fluctuations in uncertainty. These findings highlight the importance of #accounting for the effects of uncertainty and non-normality in economic decision-making and #policymaking.

"From a #riskmanagement perspective, it is challenging to #model physical and #transitionrisks given the #uncertainty around #climaterisk drivers, such as changes in #governmentpolicy aimed at reducing #greenhousegasemissions, the pace of technological change, and uncertainty around the transmission channels. A dearth of in-house modeling tools and reliance on #thirdparty vendors also hamper #banks’ ability to properly understand and manage #risks. The most recent #boe climate biennial exploratory scenario (#cbes) noted that “banks varied in their ability to scrutinize and understand the strengths and weakness of third-party models, and adapt them appropriately to the CBES.” As a result, projected #losses for banks varied widely, suggesting a high degree of uncertainty about the magnitude of climate risks as well as a limited ability to accurately reflect such risks in business decisions."

This article discusses the proposed #eu #cyberresilienceact (#cra) as a response to the growing #cybersecurityrisks associated with the fourth industrial revolution and the Internet of Things (#iot). It provides an overview of the CRA's provisions, including its #risk-based approach, #regulatoryrequirements, and scope of application, and critically evaluates them.

The study emphasizes the need for a better understanding of #ai to avoid policies that may hinder its benefits. It argues for a cross-disciplinary approach to AI #governance and clarifying its core concepts to build trust. The paper addresses two key questions: 1) What is the best way to safely introduce AI to maximize well-being and #sustainability in light of its potential #risks? and 2) What specific policy steps should be taken to implement it?

" The biggest Shortcoming of the recent reforms to the stabilization of the #financialsystem, such as #baseliii and the American #doddfrankact Act, is that they increase the #capitalrequirements rather than the causes of the increased #risk. It would generally be better to forbid risky and complex #financialproducts than to further increase #regulation complexity."

"This paper investigates the relationship between #geopoliticalrisk and #financialstress using a bivariate #var model. The study uses the #gpr Index to measure geopolitical risk and the OFSR FSI index to measure financial stress over a period of 06 January 2000 - 03 March 2023 on daily data. The results show a significant relationship between financial stress and geopolitical risk"