News & Highlights _________________________________________________
Volterra Present at the Annual Retail Credit Risk Management Conference
Volterra staff hosted a workshop as a part of Infoline's Annual Conference for Retail Credit Risk Management. The event explored the details behind two banking hot topics - stabilising capital requirements and stress testing. The key method for reducing procyclicality in banks' capital requirements (the 'Variable Scalar' method), put forward by the FSA and outlines in the Turner review, was explored in detail. Stress testing approaches pre and post credit crunch were also outlined, from general background to more advanced issues. Download the slides here.
Will Cook also presented at the event's main conference, exploring the evolution of Basel II modelling in the UK and putting in context the methodology behind the Variable Scalar approach. Download the slides to this presentation. Contact Will Cook or Matt Salisbury for further information on these issues.
Thames Estuary - Airport Feasibility
Bridget Rosewell participated in the publication of Doug Oakervee’s report into the feasibility of an airport in the Thames Estuary which he prepared for the Mayor of London. This showed that the technical feasibility of an airport is only a small part of the issue facing the use of the Estuary, which include questions of flood defence, tidal and wind power, road and rail connections, to say nothing of environmental issues.
The report has been published at www.testrad.co.uk, which is a company established by Bridget and Doug to pursue these questions and to work with the Steering Group established by the Mayor and chaired by Sir David King.
Joatha and Volterra Announce Partnership Agreement in the Middle East
Joatha Business Development Consultants ("Joatha") and Volterra Consulting ("Volterra") have signed an agreement to form a strategic alliance covering the Middle East region. The agreement will form the first stage for the two companies to consolidate their local and global activities in the future.
Commenting on this important step, Dr. Ihsan Bu-Hulaiga, Joatha's chairman, said: "Joatha's collaboration with Volterra brings a new dimension to our activity in Saudi Arabia and the rest of the GCC. Our strategic alliance offers a well rounded and highly experienced, yet specialized team. The outlook for our joint consulting activity is highly promising. The two companies share a result-oriented approach."
Bridget Rosewell, Volterra's chairman, added: "This is a very exciting venture for Volterra. We very much welcome the opportunity to apply our skills and expertise in a different environment and with the support of those who have deep understanding and expertise of their own about the issues that the region faces. Our collaboration has already got off to a good start with work in Riyadh and I am sure that it will only expand." More on Volterra Middle East...
Guilty As Charged!
Much of the blame for the 2008 financial crisis rests not with politicians or regulators but with academic macro-economic theory. It is this which underpinned the polices which led to the disastrous crash in the autumn of last year. The authorities were only able to cope by disregarding everything which had been written in mainstream macroeconomics over the past 30 years. Download Paul Ormerod’s much expanded
piece for the Journal of the Academy of Social Sciences on 'The Current Crisis and the Culpability of Macroeconomic Theory.'
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Stress Testing for Retail Credit Risk...
