The #creditsuisse #coco wipeout occurred when the #finma announced that the contingent convertible bonds that were part of the Credit Suisse Additional #tier1 (AT1) #regulatory capital had been written off.
FINMA’s decision creates a healthy precedent: restoring #financialdiscipline in AT1 #bondmarkets by reminding investors that their investment is exposed to #creditrisk and that #duediligence is advised before investing in these products.
"Private businesses are making actuarial decisions, assessing that some locations are just too vulnerable to insure. At the same time, this insurance retreat also poses a policy challenge for states a
New estimators for generalized tail distortion (GTD) risk measures are proposed, based on first-order asymptotic expansions, offering simplicity and comparable or better performance than existing meth
Cyber risk presents significant challenges to society, yet its statistical behavior remains insufficiently understood. This paper analyzes three databases to study cyber risk dynamics. It identifies i