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# Risk Control

Experts in risk for the world's leading institutions.

## Sitemaps

- [XML Sitemap](https://www.riskcontrollimited.com/sitemap.xml): Contains all public & indexable URLs for this website.

## Posts

- [News](https://www.riskcontrollimited.com/news/) - News from Risk Control, a specialist provider of risk management advice and software
- [RC-Limit Exposure Management System Introduces Advanced Analytics Module](https://www.riskcontrollimited.com/rc-limit-exposure-management-system-introduces-advanced-analytics-module/)
- [Risk Control Presents Research on Development Finance Guarantees at the OECD CoP-PF4SD Meeting](https://www.riskcontrollimited.com/risk-control-presents-research-on-development-finance-guarantees-at-the-oecd-cop-pf4sd-meeting/)
- [BBC Interview on Bank Capital Regulation](https://www.riskcontrollimited.com/bbc-interview-on-bank-capital-regulation/) - William Perraudin was interviewed on BBC Radio 4 on bank capital regulation and why the Bank of England is right to be considering a slight change of direction.
- [Risk Control presents at Italian securitisation workshop](https://www.riskcontrollimited.com/risk-control-presents-at-italian-securitisation-workshop/) - Risk Control delivered a keynote presentation at EDW workshop sharing our latest analysis on how to make securitisation capital rules work better for Europe
- [Risk Control develops enhanced Risk Based Pricing software](https://www.riskcontrollimited.com/risk-control-develops-enhanced-risk-based-pricing-software/) - Risk Control develops cloud-based tools for delivering complex Risk Based Pricing analysis to client systems.
- [Risk Control Launches New Report on Specialist Guarantee Companies](https://www.riskcontrollimited.com/risk-control-launches-new-report-on-specialist-guarantee-companies/) - Risk Control has launched its latest report, Rethinking Guarantees in Development Finance: The Role of Specialist Guarantee Companies, at an online event.
- [Texel DevFins 2026 engagement](https://www.riskcontrollimited.com/texel-devfins-2026-engagement/) - At Texel DevFins 2026, Risk Control’s Director William Perraudin joined a distinguished panel for "A Quantitative Look at PCT and MDB Loan Performance".
- [Risk Control analyses returns on mezzanine exposure to a corporate ABS deal](https://www.riskcontrollimited.com/risk-control-analyses-returns-on-mezzanine-exposure-to-a-corporate-abs-deal/) - Risk Control enhances and extends its securitisation modelling techniques to support investors in a corporate-loan backed ABS transaction.
- [Risk Control creates suite of prepayment models](https://www.riskcontrollimited.com/risk-control-creates-suite-of-prepayment-models/) - Risk Control develops and implements for a client a suite of mortgage prepayment models.
- [Rating Scenario System](https://www.riskcontrollimited.com/rating-scenario-system/) - Risk Control's Rating Scenario application (RC-Rating Scenario System) is adopted by another supranational development bank client.
- [Risk Control's integrated risk systems installed on client servers](https://www.riskcontrollimited.com/risk-controls-integrated-risk-systems-installed-on-client-servers/)
- [EC proposals on securitisation capital](https://www.riskcontrollimited.com/european-commission-proposals-on-securitisation-capital/) - European authorities issue proposals for securitisation capital rules picking up on suggestion for Risk Sensitive Risk Weight Floor in Risk Control's studies
- [S&P's supranational ratings criteria changes](https://www.riskcontrollimited.com/sps-supranational-ratings-criteria-changes/) - S&P's supranational ratings criteria changes related to the evidence provided in our 2024 paper: "Quantifying Preferred Creditor Treatment by Rating Grade"
- [MDB Portfolio Expansion study](https://www.riskcontrollimited.com/mdb-portfolio-expansion-study/) - Study commissioned by the G20 Independent Review of MDBs Capital Adequacy Frameworks assesses credit rating agency criteria and MDB headroom capacity.
- [Article in Risk magazine](https://www.riskcontrollimited.com/article-in-risk-magazine/)
- [PCS commend Risk Control paper](https://www.riskcontrollimited.com/pcs-commend-risk-control-paper/)
- [European Money and Finance Forum conference](https://www.riskcontrollimited.com/european-money-and-finance-forum-conference/)
- [Study on High Quality Securitisations](https://www.riskcontrollimited.com/study-on-high-quality-securitisations/)
- [More reactions to Risk Control's paper](https://www.riskcontrollimited.com/more-reactions-to-risk-controls-paper/)
- [Public Discussion on Risk Control's MDB Risk Transfer and Risk Benchmarking Solutions](https://www.riskcontrollimited.com/public-discussion-on-risk-controls-mdb-risk-transfer-and-risk-benchmarking-solutions/) - Risk Control discussed the solutions they are developing to unlock more headroom in response to urgent climate and development finance needs.
- [MDB Sovereign Loan Credit Performance and PCT](https://www.riskcontrollimited.com/mdb-sovereign-loan-credit-performance-and-pct/) - This study evaluates the benefit of Preferred Creditor Treatment (PCT) for Multilateral Development Banks (MDB) compared to private sector lenders.
- [Risk Control Leads Dialogue on Financial Innovation](https://www.riskcontrollimited.com/risk-control-limited-leads-dialogue-on-financial-innovation/)
- [Risk Control's Director, William Perraudin discusses MDB/DFI market building at CGD event](https://www.riskcontrollimited.com/risk-controls-director-william-perraudin-discusses-mdb-dfi-market-building-at-cgd-event/) - Risk Control's Managing Director, William Perraudin participated in the Center for Global Development's online event, "Can MDBs/DFIs Really Build Markets," on the topic of effective market building and impact driving. He joined other industry leaders to discuss current DFI practices and innovative financing approaches, emphasizing the "Originate to Demonstrate" concept.
- [Presentation on the Role of Securitisation](https://www.riskcontrollimited.com/presentation-on-the-role-of-securitisation/) - Risk Control spoke at the AFME and Paris EUROPLACE Securitisation Forum on the need to revisit Europe's prudential regulation for securitisation
- [Presentation on ESG and Credit Rating Correlations](https://www.riskcontrollimited.com/presentation-on-esg-and-credit-rating-correlations/) - Risk Control Director William Perraudin presents a new research report on ESG and Credit Rating Correlations in Bank of Italy webinar.
- [Presentation on Model Risk in Prometeia webinar](https://www.riskcontrollimited.com/presentation-on-model-risk-at-prometeia-webinar/) - Risk Control's William Perraudin presents on Model Risk in webinar to Italian bankers organised by Prometeia.
- [Securitisation presentation at EPFSF seminar](https://www.riskcontrollimited.com/securitisation-presentation-at-epfsf-seminar/) - Securitisation presentation at EPFSF seminar Director of Risk Control, William Perraudin, speaks on Understanding Securitisation at the European Parliamentary Financial Services Forum's educational seminar co-organised by EBF and AFME.
- [Brussels presentation on bond market liquidity](https://www.riskcontrollimited.com/brussels-presentation-on-bond-market-liquidity/)
- [Risk Control study featured in ICMA Quarterly Report](https://www.riskcontrollimited.com/risk-control-study-featured-in-icma-quarterly-report/)
- [Global Risk Regulator article](https://www.riskcontrollimited.com/global-risk-regulator-article-2/)
- [Global Risk Regulator article](https://www.riskcontrollimited.com/global-risk-regulator-article/)
- [Update to study](https://www.riskcontrollimited.com/update-to-study/)
- [Securitisation capital study](https://www.riskcontrollimited.com/securitisation-capital-study/) - New study of how to align securitisation capital rules with risk by Risk Control's William Perraudin and Georges Duponcheele of Munich Re.
- [European Securitization Awards 2025](https://www.riskcontrollimited.com/european-securitization-awards-2025/) - William Perraudin of Risk Control and Georges Duponcheele of Munich Re received the European Securitization Award for Outstanding Contribution to Securitization
- [Risk Control implements complete Economic Capital Model](https://www.riskcontrollimited.com/risk-control-implements-complete-econmic-capital-model/) - Risk Control implements a complete Economic Capital and Stress Testing System with integrated risk models and dashboards for a financial institution
- [Risk Control completes enhancement of Stress Testing software](https://www.riskcontrollimited.com/risk-control-completes-enhancement-of-stress-testing-software/) - Risk Control extends the capabilities of its macro stress testing software which permits a financial institution to project forward its capital and provisions.
- [SRT Transaction Support](https://www.riskcontrollimited.com/srt-transaction-support/) - Risk Control supports investors in a complex Significant Risk Transfer (SRT) deal, computing risk and expected returns on the tranche covered.
- [Risk Control develops mortgage prepayment models using data from multiple countries](https://www.riskcontrollimited.com/risk-control-develops-mortgage-prepayment-models-using-data-from-multiple-countries/) - Risk Control employs AI and classical statistical modelling to understand mortgage prepayments.
- [SSRN top ten list](https://www.riskcontrollimited.com/ssrn-top-ten-list/)
- [Risk Control Assists G20 Expert Panel](https://www.riskcontrollimited.com/risk-control-assists-g20-expert-panel/) - Risk Control assisted the G20 Expert Panel for Multilateral Development Banks' Capital Adequacy Frameworks by analysing historical data on MDB loan performance.
- [Wharton School Symposium](https://www.riskcontrollimited.com/wharton-school-symposium/)
- [New research by Risk Control on MDB loan data templates](https://www.riskcontrollimited.com/new-research-by-risk-control-on-mdb-loan-data-templates/)
- [Risk Control's Director, William Perraudin, addresses SSA capital optimisation at Global Capital briefing](https://www.riskcontrollimited.com/risk-controls-director-william-perraudin-addresses-ssa-capital-optimisation-at-global-capital-briefing/)
- [Brussels conference](https://www.riskcontrollimited.com/brussels-conference/)
- [Response to BCBS-IOSCO consultation](https://www.riskcontrollimited.com/response-to-bcbs-iosco-consultation/)
- [Breaking: Securitisation Reform Set to Revolutionize European Economic Landscape](https://www.riskcontrollimited.com/breaking-securitisation-reform-set-to-revolutionize-european-economic-landscape/)
- [Risk Control conducts capital adequacy benchmarking for nine prominent MDBs](https://www.riskcontrollimited.com/risk-control-conducts-capital-adequacy-benchmarking-for-nine-prominent-mdbs/)
- [Risk Control Analyses the Credit and Liquidity Implications of SDR-Based Hybrid Capital for MDBs](https://www.riskcontrollimited.com/risk-control-analyses-the-credit-and-liquidity-implications-of-sdr-based-hybrid-capital-for-mdbs/)
- [Risk Control Analyses Counterparty Risk in MDB Exposure Exchange Agreements](https://www.riskcontrollimited.com/risk-control-analyses-counterparty-risk-in-mdb-exposure-exchange-agreements/)
- [Press Release: New World Bank Studies](https://www.riskcontrollimited.com/press-release-new-world-bank-studies/) - Our new studies commissioned by The Rockefeller Foundation show that World Bank reform could unlock billions of additional financing for developing countries.
- [Risk Management Course](https://www.riskcontrollimited.com/risk-management-course/)
- [Financial Times article](https://www.riskcontrollimited.com/financial-times-article/)
- [Risk Control Outlines Roadmap for MDB Risk Transfer](https://www.riskcontrollimited.com/risk-control-outlines-roadmap-for-mdb-risk-transfer/) - A new study by Risk Control provides a roadmap for Multilateral Development Banks (MDBs) to implement scalable risk transfer strategies,
- [Impact of the SA Output Floor on the European Securitisation Market](https://www.riskcontrollimited.com/impact-of-the-sa-output-floor-on-the-european-securitisation-market/) - This research paper examines the impact on the European securitisation market of the introduction by regulators of the Standardised Approach (SA) Output Floor.
- [Presentation at a conference](https://www.riskcontrollimited.com/presentation-at-a-conference-2/) - Risk Control presents on AFA at a Securitisation Conference 2014 in Amsterdam.
- [Alternative for securitisation capital](https://www.riskcontrollimited.com/study-on-alternative-for-securitisation-capital/)
- [EIF workshop](https://www.riskcontrollimited.com/eif-workshop/)
- [Research paper](https://www.riskcontrollimited.com/research-paper/)
- [ICAAP assessments](https://www.riskcontrollimited.com/icaap-assessments/)
- [New modelling approach](https://www.riskcontrollimited.com/new-modelling-approach/)
- [RC-Capital Model Video](https://www.riskcontrollimited.com/rc-capital-model-video/) - Risk Control publishes a short video about the RC-Capital Model on its YouTube channel.
- [Risk Control Analyses Efficiency of MDB Risk Transfer Strategies](https://www.riskcontrollimited.com/risk-control-analyses-efficiency-of-mdb-risk-transfer-strategies/)
- [Risk Control Develops Fair Pricing Model for MDB Sovereign Loans](https://www.riskcontrollimited.com/risk-control-develops-fair-pricing-model-for-mdb-sovereign-loans/)
- [Risk Control Quantifies Significant MDB Benefit from Preferred Creditor Treatment](https://www.riskcontrollimited.com/risk-control-quantifies-significant-mdb-benefit-from-preferred-creditor-treatment/)
- [Risk Control's Paper gets published in the Eurofi Regulatory Update](https://www.riskcontrollimited.com/risk-controls-paper-gets-published-in-the-eurofi-regulatory-update/)
- [New Risk Control research on Originate to Demonstrate](https://www.riskcontrollimited.com/new-risk-control-research-on-originate-to-demonstrate/)
- [Risk Control is making global media headlines](https://www.riskcontrollimited.com/file-c-users-sayani-koner-downloads-global-capital-pdf/)
- [European Competitiveness and Securitisation Regulations](https://www.riskcontrollimited.com/european-competitiveness-and-securitisation-regulations/)
- [Calibration of a Securitisation Capital Floor](https://www.riskcontrollimited.com/calibration-of-a-securitisation-capital-floor/)
- [European Commission publishes Risk Control study on the current state of investment research across EU countries](https://www.riskcontrollimited.com/european-commission-publishes-risk-control-study-on-the-current-state-of-investment-research-across-eu-countries/)
- [Reviving Securitisation in Europe](https://www.riskcontrollimited.com/reviving-securitisation-in-europe/) - Reviving Securitisation in Europe. Risk Control completes a research note on capital-input scaling for the Simplified Supervisory Formula Approach (SSFA).
- [Regional Bank Default Probabilities in the Covid-19 Crisis](https://www.riskcontrollimited.com/regional-bank-default-probabilities-in-the-covid-19-crisis/)
- [Risk Control Presents at SCI Seminar in London](https://www.riskcontrollimited.com/risk-control-presents-at-sci-seminar-in-london/)
- [Risk Control Presents at EIF RM](https://www.riskcontrollimited.com/risk-control-presents-at-eif-rm/)
- [Research on Rethinking the Securitisation Risk Weight Floor](https://www.riskcontrollimited.com/research-on-rethinking-the-securitisation-risk-weight-floor/) - Risk Control publishes new research paper proposing risk-sensitive Risk Weight Floor for policymakers to analyse and adopt.
- [Study of MDB Preferred Creditor Treatment for sovereign loans by rating](https://www.riskcontrollimited.com/study-of-mdb-preferred-creditor-treatment-for-sovereign-loans-by-rating/)
- [Cloud-based software hosting for Risk Control software using Microsoft Azure](https://www.riskcontrollimited.com/cloud-based-software-hosting-for-risk-control-software-using-microsoft-azure/) - Risk Control enhances its Software-as-a-Service offerings by hosting all its major software via client-specific Microsoft Azure cloud-based installations.
- [New Non-Financial Risk Capital software completed](https://www.riskcontrollimited.com/new-non-financial-risk-capital-software-completed/)
- [Presentation at a conference](https://www.riskcontrollimited.com/presentation-at-a-conference/)
- [Stress Controller enhancements](https://www.riskcontrollimited.com/stress-controller-enhancements-2/)
- [Study on High Quality Securitisations](https://www.riskcontrollimited.com/study-on-high-quality-securitisations-2/)
- [Stress Controller enhancements](https://www.riskcontrollimited.com/stress-controller-enhancements/)
- [Presentation at Global ABS](https://www.riskcontrollimited.com/presentation-at-global-abs/)
- [Study for GFMA](https://www.riskcontrollimited.com/study-for-gfma/)
- [Study on Securitisation Purchases by the ECB](https://www.riskcontrollimited.com/study-on-securitisation-purchases-by-the-ecb/)
- [ICAAP analysis training ](https://www.riskcontrollimited.com/icaap-analysis-training/)
- [Risk Control on Twitter](https://www.riskcontrollimited.com/risk-control-on-twitter/)
- [Recruitment opportunities](https://www.riskcontrollimited.com/recruitment-opportunities/)
- [Conference in Frankfurt](https://www.riskcontrollimited.com/conference-in-frankfurt/)
- [CNBC interview](https://www.riskcontrollimited.com/cnbc-interview/)
- [Credit correlation project](https://www.riskcontrollimited.com/credit-correlation-project/)
- [Operational risk](https://www.riskcontrollimited.com/operational-risk/)
- [Response to EBA consultation](https://www.riskcontrollimited.com/response-to-eba-consultation/)
- [Website redesign](https://www.riskcontrollimited.com/website-redesign/)
- [Financial planning and stress testing case study](https://www.riskcontrollimited.com/financial-planning-and-stress-testing-case-study/)
- [Recruitment opportunities](https://www.riskcontrollimited.com/recruitment-opportunities-2/)
- [ICAAP for asset managers](https://www.riskcontrollimited.com/icaap-for-asset-managers/)
- [World Bank Forum](https://www.riskcontrollimited.com/world-bank-forum/)
- [Default Probability Risk and Securitisation Capital](https://www.riskcontrollimited.com/default-probability-risk-and-securitisation-capital-note/)
- [Software enhancements](https://www.riskcontrollimited.com/software-enhancements/)
- [EU Consultation Response](https://www.riskcontrollimited.com/eu-consultation-response/)
- [Bundesbank Conference](https://www.riskcontrollimited.com/bundesbank-conference/)
- [BIAC-G20 Paris conference](https://www.riskcontrollimited.com/oecd-paris-conference/)
- [Capital Floors, the Revised SA and the Cost of Loans in Switzerland](https://www.riskcontrollimited.com/revised-sa-study/)
- [Conservative Monotone Approach Update](https://www.riskcontrollimited.com/conservative-monotone-approach-update/)
- [Risk magazine article](https://www.riskcontrollimited.com/risk-magazine-article/)
- [EBA Board of Supervisors](https://www.riskcontrollimited.com/eba-board-of-supervisors/)
- [Finanz und Wirtschaft interview](https://www.riskcontrollimited.com/finanz-und-wirtschaft-interview/)
- [Swiss presentation](https://www.riskcontrollimited.com/swiss-presentation/)
- [Comment on EBA proposal](https://www.riskcontrollimited.com/comment-on-eba-proposal/)
- [2016 EBA Stress Testing Tool](https://www.riskcontrollimited.com/2016-eba-stress-testing-tool/)
- [Comments on the Commission's proposals](https://www.riskcontrollimited.com/comments-on-the-commissions-proposals-for-reviving-the-european-securitisation-market/)
- [Recruitment opportunities](https://www.riskcontrollimited.com/recruitment-opportunities-3/)
- [EBA presentation](https://www.riskcontrollimited.com/eba-presentation/)
- [Software developments](https://www.riskcontrollimited.com/software-developments/)
- [Services developments](https://www.riskcontrollimited.com/analytical-services-for-banks/)
- [Risk Methodology training](https://www.riskcontrollimited.com/risk-methodology-training/)
- [Return on Regulatory Capital note](https://www.riskcontrollimited.com/return-on-regulatory-capital-note/)
- [After Basel 3 - Building capital rules that make sense](https://www.riskcontrollimited.com/after-basel-3-building-capital-rules-that-make-sense/)
- [MDB ratings research](https://www.riskcontrollimited.com/mdb-ratings-research/)
- [European Commission project](https://www.riskcontrollimited.com/european-commission-project/)
- [SME financing insight](https://www.riskcontrollimited.com/sme-financing-insight/)
- [Solvency II paper](https://www.riskcontrollimited.com/solvency-ii-paper/)
- [Stress Controller methodology](https://www.riskcontrollimited.com/august-2016-stress-controller-methodology/)
- [Reverse Stress Testing](https://www.riskcontrollimited.com/reverse-stress-testing/)
- [Modelling innovation](https://www.riskcontrollimited.com/modelling-innovation/)
- [How to Analyse Risk in Securitisation Portfolios](https://www.riskcontrollimited.com/how-to-analyse-risk-in-securitisation-portfolios/)
- [Presentation on Indicators of Bond Market Liquidity](https://www.riskcontrollimited.com/presentation-on-indicators-of-bond-market-liquidity/)
- [Securitisation Risk Briefing](https://www.riskcontrollimited.com/securitisation-risk-briefing/)
- [Market Liquidity Project](https://www.riskcontrollimited.com/market-liquidity-project/)
- [Training on Cutting Edge ICAAP Methods for Asset Managers](https://www.riskcontrollimited.com/training-on-cutting-edge-icaap-methods-for-asset-managers/)
- [Dashboard Software](https://www.riskcontrollimited.com/dashboard-software/)
- [Provisions Forecasting Under Stress](https://www.riskcontrollimited.com/provisions-forecasting-under-stress/)
- [Stress Testing Software Enhancements](https://www.riskcontrollimited.com/stress-testing-software-enhancements/)
- [Corporate Bond Liquidity Presentation to EC Experts](https://www.riskcontrollimited.com/corporate-bond-liquidity-presentation-to-ec-experts/)
- [Rating Correlations and Macro Stress Testing](https://www.riskcontrollimited.com/rating-correlations-and-macro-stress-testing/)
- [Capital and Risk in Bancassurance Organisations](https://www.riskcontrollimited.com/capital-and-risk-in-bancassurance-organisations/)
- [Presentation to the European Commission](https://www.riskcontrollimited.com/presentation-to-the-european-commission/)
- [Presentation to Bank CROs](https://www.riskcontrollimited.com/presentation-to-bank-cros/)
- [Liquidity Study for Major bank](https://www.riskcontrollimited.com/liquidity-study-for-major-bank/)
- [Presentation on Corporate Bond Market Liquidity](https://www.riskcontrollimited.com/presentation-on-corporate-bond-market-liquidity/)
- [New financial engineerig software: Risk Frame](https://www.riskcontrollimited.com/new-financial-engineerig-software-risk-frame/)
- [European Commission publishes Risk Control study on corporate bond market liquidity](https://www.riskcontrollimited.com/european-commission-publishes-risk-control-study-on-corporate-bond-market-liquidity/)
- [Recruitment opportunities](https://www.riskcontrollimited.com/recruitment-opportunities-4/)
- [Milan presentation on business implications of market illiquidity](https://www.riskcontrollimited.com/milan-presentation-on-business-implications-of-market-illiquidity/)
- [Frankfurt presentation on bond market liquidity](https://www.riskcontrollimited.com/frankfurt-presentation-on-bond-market-liquidity/)
- [Paris presentation on bond market liquidity](https://www.riskcontrollimited.com/paris-presentation-on-bond-market-liquidity/)
- [Risk Control presents at European Money and Finance Forum](https://www.riskcontrollimited.com/risk-control-presents-at-european-money-and-finance-forum/)
- [Forecasting Assets under Management for Stress Testing and Strategy Purposes](https://www.riskcontrollimited.com/forecasting-assets-under-management-for-stress-testing-and-strategy-purposes/)
- [Global ABS presentation](https://www.riskcontrollimited.com/global-abs-presentation/)
- [Florence presentation on Non-Performing Loans](https://www.riskcontrollimited.com/florence-presentation-on-non-performing-loans/)
- [New software for calculating credit scores](https://www.riskcontrollimited.com/new-software-for-calculating-credit-scores/)
- [Liquidty presentation at Frankfurt asset managers conference](https://www.riskcontrollimited.com/liquidty-presentation-at-frankfurt-asset-managers-conference/) - Measuring bond market liquidity, risk control presentation
- [Risk Control comments on EBA Technical Standards](https://www.riskcontrollimited.com/risk-control-comments-on-eba-technical-standards/)
- [Scenario Frame software announced by Risk Control](https://www.riskcontrollimited.com/scenario-frame-software-announced-by-risk-control/)
- [Risk Control presents to EBA on regulatory issues](https://www.riskcontrollimited.com/risk-control-presents-to-eba-on-regulatory-issues/)
- [MiFID II Tender](https://www.riskcontrollimited.com/mifid-ii-tender/)
- [Tools for ALM analysis](https://www.riskcontrollimited.com/tools-for-alm-analysis/) - Risk Control develops innovative approaches to ALM analysis.
- [Course on risk analysis, capital allocation and pricing of securitisations](https://www.riskcontrollimited.com/course-on-risk-analysis-capital-allocation-and-pricing-of-securitisations/) - Risk Control delivers course covering risk analysis and pricing of securitisations to central bankers and regulators in Florence
- [Podcast on securitisation market and its regulation](https://www.riskcontrollimited.com/podcast-on-securitisation-market-and-its-regulation/) - Risk Control explains the state of the European securitisation market and how the regulatory framework affects it.
- [New software for connecting investors to originators in the loan market](https://www.riskcontrollimited.com/new-software-for-connecting-investors-to-originators-in-the-loan-market/) - Risk Control completes innovative software for a fund investing in loan portfolios.
- [Survey on Investment Research](https://www.riskcontrollimited.com/survey-on-investment-research/) - Risk Control will launch this month a major survey asking asset managers how the MiFID II rules have affected the quantity and quality of investment research.
- [Top-down and Performance-based SME Default Probabilities](https://www.riskcontrollimited.com/top-down-and-performance-based-sme-default-probabilities/)
- [Connectivity software](https://www.riskcontrollimited.com/connectivity-software/) - Risk Control develops web-service-based connectivity software for Asset Managers with internationally dispersed operations
- [Quant Suite Portal software](https://www.riskcontrollimited.com/quant-suite-portal-software/)
- [New software for central hosting of pricing algorithms](https://www.riskcontrollimited.com/new-software-for-central-hosting-of-pricing-algorithms/) - Risk Control develops function server software for central hosting of pricing algorithms usable by multiple analysts working in Excel
- [Risk Control completes case study on risk transfer transactions](https://www.riskcontrollimited.com/risk-control-completes-case-study-on-risk-transfer-transactions/) - Risk Control assists major bank with advice concerning risk transfer transactions
- [New computer vision techniques for reading image data](https://www.riskcontrollimited.com/new-computer-vision-techniques-for-reading-image-data/) - Risk Control develops computer vision techniques for reading data from image files
- [Risk Control completes major study on the impact of MiFID II rules](https://www.riskcontrollimited.com/risk-control-completes-major-study-on-the-impact-of-mifid-ii-rules/)
- [Study of sovereign bond liquidity in Europe](https://www.riskcontrollimited.com/study-of-sovereign-bond-liquidity-in-europe/)
- [Data integration solution by Risk Control](https://www.riskcontrollimited.com/data-integration-solution-by-risk-control/)
- [Brussels presentation on bond market liquidity](https://www.riskcontrollimited.com/brussels-presentation-on-bond-market-liquidity-2/)
- [Connectivity software](https://www.riskcontrollimited.com/connectivity-software-2/)
- [Predicting Default for UK SMEs Using Companies House Data](https://www.riskcontrollimited.com/predicting-default-for-uk-smes/) - Risk Control publishes note on how to use Rating Engine to estimate probabilities of default (PD) for UK companies
- [Real-time monitoring of credit portfolios in the Covid-19 crisis](https://www.riskcontrollimited.com/real-time-monitoring-of-credit-portfolios-in-the-covid-19-crisis/)
- [Covid-19 portfolio reviews for banks](https://www.riskcontrollimited.com/covid-19-portfolio-reviews-for-banks/)
- [Real-time ratings in the Covid-19 crisis](https://www.riskcontrollimited.com/real-time-ratings-in-the-covid-19-crisis/)
- [Real-Time Sovereign Ratings Update](https://www.riskcontrollimited.com/real-time-sovereign-ratings-update/) - Risk Control updates its analysis of sovereign ratings and PDs implied by CDS spreads.
- [Gainers and the Losers: Real-Time Industry PDs in the Covid-19 Crisis](https://www.riskcontrollimited.com/gainers-and-the-losers-real-time-industry-pds-in-the-covid-19-crisis/) - Risk Control publishes a note showing how representative probabilities of default (PDs) for individual industry sectors have evolved since the crisis began.
- [Covid-19 Crisis Update: What Happened to Sovereign Credit Quality in July?](https://www.riskcontrollimited.com/we-answer-the-question-what-happened-to-sovereign-credit-quality-in-july/) - We estimate Probabilities of Default (PDs) from Credit Default Swap (CDS) spreads and infer real time ratings for July 2020.
- [Covid-19 Credit Market Dashboard](https://www.riskcontrollimited.com/covid-19-credit-market-dashboard/)
- [Risk Control completes study on infrastructure debt capital charges](https://www.riskcontrollimited.com/risk-control-completes-study-on-infrastructure-debt-capital-charges/)
- [Global Credit Market Update](https://www.riskcontrollimited.com/global-credit-market-update/) - Risk Control publishes a note on how Global Credit Markets have been affected by the Covid-19 crisis.
- [Training in ALM Techniques](https://www.riskcontrollimited.com/training-in-alm-techniques/) - Risk Control delivers training in ALM techniques to asset manager
- [Limit System Software](https://www.riskcontrollimited.com/limit-system-software/)
- [Scenario Analysis for Multilaterals](https://www.riskcontrollimited.com/scenario-analysis-for-multilaterals/)
- [ESG Analysis](https://www.riskcontrollimited.com/esg-analysis/) - Risk Control analyses ESG methodologies and advises clients on appropriate techniques for their businesses.
- [Training in Treasury Management](https://www.riskcontrollimited.com/training-in-treasury-management/) - Risk Control delivers Treasury management training to a client's Treasury team.
- [Treasury Limits](https://www.riskcontrollimited.com/treasury-limits/) - Risk Control devises Treasury limits for a bank.
- [Microservices Architecture](https://www.riskcontrollimited.com/microservices-architecture/) - Risk Control implements high availability versions of its software using microservices architecture.
- [Risk Transfer Deals](https://www.riskcontrollimited.com/risk-transfer-deals/) - Risk Control assists clients with the design and capital analysis of Risk Transfer deals.
- [Research report on ESG and Credit Rating Correlations](https://www.riskcontrollimited.com/research-report-on-esg-and-credit-rating-correlations/) - We analyse how ESG and credit ratings move together, providing a key building block for the integrated management of ESG and credit risks in loan and bond portfolios.
- [Hybrid Capital Analysis](https://www.riskcontrollimited.com/hybrid-capital-analysis/)
- [Validation of Sovereign Rating Model](https://www.riskcontrollimited.com/validation-of-sovereign-rating-model/) - Risk Control carries out independent review and validation of a clients Sovereign Credit Rating Model.
- [Analytical Support for Significant Risk Transfer (SRT) Trades](https://www.riskcontrollimited.com/analytical-support-for-significant-risk-transfer-srt-trades/)
- [Innovative approaches to integrating Limit and Capital Software Systems](https://www.riskcontrollimited.com/innovative-approaches-to-integrating-limit-and-capital-software-systems/) - Research note by Risk Control about approaches to integrating Limit and Capital software systems to permit the use of Economic Capital-based credit limits.
- [Risk Based Pricing Software](https://www.riskcontrollimited.com/risk-based-pricing-software/)
- [Liquidity in ABS, Covered Bond and Corporate Bond Markets](https://www.riskcontrollimited.com/liquidity-in-abs-covered-bond-and-corporate-bond-markets/) - Risk Control completes a new research note examining the relative liquidity of Asset Backed Securities (ABS), Covered Bonds (CBs) and Corporate Bonds (Corps).
- [Enhancement to Limit System](https://www.riskcontrollimited.com/enhancement-to-limit-system/) - Risk Control completes series of major enhancements to its RC-Limit System software, facilitating the convenient specification of a wider set of limits.
- [Liquidity Analysis by Asset Class](https://www.riskcontrollimited.com/liquidity-analysis-by-asset-class/)
- [Support for Significant Risk Transfer (SRT) Deals](https://www.riskcontrollimited.com/support-for-significant-risk-transfer-srt-deals/) - Risk Control supports investors evaluating risk transfer deals, combining risk and pricing analyses.
- [Tools for Risk Based Pricing of Loans](https://www.riskcontrollimited.com/tools-for-risk-based-pricing-of-loans/) - Risk Control supports a major credit fund in developing Risk Based Pricing (RBP) tools for evaluating new deals.
- [Annual Rating Agency Review](https://www.riskcontrollimited.com/annual-rating-agency-review/) - Annual Rating Agency Review . Risk Control assist a client in covering the topics of their annual review meeting with a rating agency.
- [Pricing Tool Update and Training by Risk Control](https://www.riskcontrollimited.com/pricing-tool-update-and-training-by-risk-control/) - Risk Control assists a client in the modification of their Risk Based Pricing (RBP) Model and delivers training on the use of the updated pricing tool.
- [Best Practice in Model Documentation](https://www.riskcontrollimited.com/best-practice-in-model-documentation/) - Risk Control completes work on model documentation standards and helps a firm with its documents.
- [Liquidity Coverage Ratio Analysis](https://www.riskcontrollimited.com/liquidity-coverage-ratio-analysis/)
- [Relative Liquidity of European ABS and CBs](https://www.riskcontrollimited.com/relative-liquidity-of-european-abs-and-cbs/)
- [Solvency II rules for securitisations and Covered Bonds](https://www.riskcontrollimited.com/solvency-ii-rules-for-securitisations-and-covered-bonds/)
- [IFRS 9/CECL analysis](https://www.riskcontrollimited.com/ifrs-9-cecl-analysis/) - Risk Control develops ECL calculation tools for IFRS 9 and CECL analysis.
- [Backtesting Counterparty Exposure Models](https://www.riskcontrollimited.com/backtesting-counterparty-exposure-models/)
- [Risk Control devises credit limits](https://www.riskcontrollimited.com/risk-control-devises-credit-limits/)
- [Risk Control consults on credit limits](https://www.riskcontrollimited.com/risk-control-consults-on-credit-limits/)
- [Integration of RC-Limit System and RC-Capital Model](https://www.riskcontrollimited.com/risk-control-completes-integration-of-rc-limit-system-and-rc-capital-model/)
- [Risk Control consults on risk appetite policies and limit setting](https://www.riskcontrollimited.com/risk-control-consults-on-risk-appetite-policies-and-limit-setting/) - Risk Control completes review of Risk Appetite Policies and limit setting for a large financial institution. Risk Control completes review of Risk Appetite Policies and limit setting for a large financial institution.
- [Bank ESG Data Strategies](https://www.riskcontrollimited.com/esg-strategy-for-banks/) - As part of a larger programme of research on ESG issues, Risk Control publishes strategy note on bank ESG data strategies.
- [Revamped Software Offerings](https://www.riskcontrollimited.com/revamped-software-offerings/)

## Pages

- [Home Page](https://www.riskcontrollimited.com/) - Experts in risk for the world's leading institutions
- [Home Page](https://www.riskcontrollimited.com/) - Experts in risk for the world's leading institutions
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- [Software Overview](https://www.riskcontrollimited.com/software-overview/) - Robust enterprise software implementing innovative techniques
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- [RC-Capital Model](https://www.riskcontrollimited.com/rc-capital-model/) - RC-Capital Model provides a high-spec risk model for multi-asset-class portfolios
- [RC-Limit System](https://www.riskcontrollimited.com/rc-limit-system/) - RC-Limit System provides limit evaluations and headroom computations
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- [All Insights](https://www.riskcontrollimited.com/all-insights/) - Insights & Ideas. Updates from Risk Control, a specialist provider of risk management advice and software
- [About us](https://www.riskcontrollimited.com/about-us/) - Experts in risk for the world's leading institutions
- [Our aims](https://www.riskcontrollimited.com/about-us/our-aims/) - Risk Control is an independent firm of risk specialists assisting major international institutions in developing and implementing effective and rigorous risk management.
- [Calibration](https://www.riskcontrollimited.com/calibration/) - Risk Control works with a number of major institutions on regular updates of the parameters employed in their risk models.
- [ESG and Climate-Related Services](https://www.riskcontrollimited.com/esg-and-climate-related-services/) - Risk Control has recently implemented client and research projects related to ESG.
- [Industrial Companies](https://www.riskcontrollimited.com/industrial-companies/) - Risk Control works with the planning, strategy and treasury operations of major non-financial firms on risk and planning assignments.
- [Insurers](https://www.riskcontrollimited.com/insurers/) - Risk Control works with major insurers on risk modelling issues, providing model review, design, implementation and validation services.
- [Investment Firms](https://www.riskcontrollimited.com/investment-firms/) - Risk analysis for the world's leading fund managers
- [Public Institutions](https://www.riskcontrollimited.com/public-institutions/) - Experts in financial risk for leading public institutions
- [RC-Connectivity and Data Validation System](https://www.riskcontrollimited.com/rc-connectivity-and-data-validation-system/) - RC-Connectivity and Data Validation System provides a portal for receiving portfolio data
- [RC-Credit Scoring System](https://www.riskcontrollimited.com/rc-credit-scoring-system/) - Framework software for creating and managing multiple scoring models
- [RC-Dashboard and Database Tool](https://www.riskcontrollimited.com/rc-dashboard-and-database-tool/) - RC-Dashboard and Database Tool provides powerful analytics and high quality visualisation tools
- [RC-Rating Scenario System](https://www.riskcontrollimited.com/rc-rating-scenario-system/) - RC-Rating Scenario System provides scenario analysis of bank ratings
- [Regulatory Analysis](https://www.riskcontrollimited.com/regulatory-analysis/) - Risk Control works with individual financial institutions and with industry associations to assess the impact of regulations and to suggest alternative approaches.
- [Risk Assessment and Quantification](https://www.riskcontrollimited.com/risk-assessment-and-quantification/) - Risk Control has developed highly practical and effective tools for assisting expert judgement concerning risk events.
- [Risk Model Services](https://www.riskcontrollimited.com/risk-model-services/) - Risk model review, design implementation and audit
- [Risk Strategy](https://www.riskcontrollimited.com/risk-strategy/) - Risk Control assists institutions with high level strategic issues that have a significant risk dimension
- [Sectors Overview](https://www.riskcontrollimited.com/sector-overview/) - Risk Control works on a variety of risk and financial planning problems relevant to a wide range of public and private sector clients.
- [Services Overview](https://www.riskcontrollimited.com/services-overview/) - Risk Control provides a wide range of risk-related consulting services
- [Transaction Design and Implementation](https://www.riskcontrollimited.com/transaction-design-implementation/) - Risk Control builds on its expertise in structuring and risk analysis to assist clients in the design and implementation of transactions.

## Insights

- [Capital Cliffs and EU Securitisation Regulations](https://www.riskcontrollimited.com/insights/capital-cliffs-and-eu-securitisation-regulations/)
- [Guarantee Companies & Development Finance](https://www.riskcontrollimited.com/insights/guarantee-companies-and-development-finance-products-business-models-and-constraints/)
- [Making the Bank Securitisation Capital Rules Work for Europe](https://www.riskcontrollimited.com/insights/making-the-bank-securitisation-capital-rules-work-for-europe/) - This report assesses the European Commission’s 17th June 2025 proposals for reforming bank securitisation capital rules.
- [New World Bank Studies by Risk Control](https://www.riskcontrollimited.com/insights/world-bank-studies-by-risk-control/) - Two new studies by Risk Control identify significant headroom that could be unlocked through reform of the world’s largest development-focused institutions.
- [Updated Report on Capital Floors, the Revised SA and the Cost of Loans](https://www.riskcontrollimited.com/insights/updated-report-on-capital-floors-the-revised-sa-and-the-cost-of-loans-in-switzerland/) - This paper analyses the impact of the measures for the national loan market of Switzerland.
- [How to Calibrate Securitisation Capital Rules](https://www.riskcontrollimited.com/insights/how-to-calibrate-securitisation-capital-rules/) - Regulatory authorities in Europe should align securitisation capital with risk to reinvigorate the market.
- [Impact of the SA Output Floor on the European Securitisation Market](https://www.riskcontrollimited.com/insights/impact-of-the-sa-output-floor-on-the-european-securitisation-market/) - This research paper examines the impact on the European securitisation market of the introduction by regulators of the Standardised Approach (SA) Output Floor.
- [Capital Adequacy Benchmarking for MDBs](https://www.riskcontrollimited.com/insights/capital-adequacy-benchmarking-for-mdbs/) - This report presents a capital adequacy benchmarking analysis for nine prominent MDBs using a consistent, Economic Capital -based methodology.
- [Risk Transfer Efficiency for MDBs](https://www.riskcontrollimited.com/insights/risk-transfer-efficiency-for-mdbs/) - MDBs can significantly enhance their risk management through strategic risk transfers, as revealed by this efficiency analysis. The study employs a Benefit-to-C
- [Quantifying Preferred Creditor Treatment by Rating Grade](https://www.riskcontrollimited.com/insights/quantifying-preferred-creditor-treatment-by-rating-grade/) - The business models of Multilateral Development Banks (MDBs) depend crucially on Preferred Creditor Treatment (PCT).
- [Analysis of SDR-Based Hybrid Capital for MDBs](https://www.riskcontrollimited.com/insights/analysis-of-sdr-based-hybrid-capital-for-mdbs/) - By lending their surplus SDRs, sovereigns could transform the capital position of MDBs.
- [Data Template for MDB Loans](https://www.riskcontrollimited.com/insights/data-template-for-mdb-loans/) - This study describes a project by Risk Control to develop data templates for MDBs when transferring risk to capital market investors.
- [Regulatory Data Requirements for Securitisation Investors](https://www.riskcontrollimited.com/insights/regulatory-data-requirements-for-securitisation-investors/) - The report clarifies the local regulatory data requirements when MDBs transfer risk through cash or synthetic securitisation.
- [Calibration of a Securitisation Capital Floor](https://www.riskcontrollimited.com/insights/calibration-of-a-securitisation-capital-floor/) - We calibrate a securitisation capital floor equal to 10% of pool Risk Weights using the Model Risk associated with the asset correlation of loans in the pool.
- [MDB Risk Transfer - Business Models and Data](https://www.riskcontrollimited.com/insights/mdb-risk-transfer-business-models-and-data/) - MDBs are exploring scalable risk transfer strategies to expand their lending capacity and meet the 'billions to trillions agenda' adopted in 2015.
- [Counterparty Risk in MDB EEAs](https://www.riskcontrollimited.com/insights/counterparty-risk-in-mdb-eeas/) - This paper analyses the counterparty risk implicit in Exposure Exchange Arrangements (EEAs) employed by Multilateral Development Banks (MDBs).
- [Fair Pricing of MDB Sovereign Loans](https://www.riskcontrollimited.com/insights/fair-pricing-of-mdb-sovereign-loans/) - In this, we use the split of probability weight between the moderate and extreme-severity defaults found in the historical transition matrix to infer a split
- [Innovative Deals in Development Finance: Originate to Demonstrate (O2D)](https://www.riskcontrollimited.com/insights/innovative-deals-in-development-finance-originate-to-demonstrate-o2d/)
- [European Competitiveness and Securitisation Regulations](https://www.riskcontrollimited.com/insights/european-competitiveness-and-securitisation-regulations/) - Judicious rule and governance changes could expand the securitisation market and boost European competitiveness.
- [Rethinking the Securitisation Risk Weight Floor](https://www.riskcontrollimited.com/insights/rethinking-the-securitisation-risk-weight-floor/) - We present a new design and calibration for the Risk Weight Floor of securitisation instruments and show how it may be used as the basis for regulatory capital.
- [Covid-19 Credit Market Dashboard](https://www.riskcontrollimited.com/insights/covid-19-credit-market-dashboard/) - Risk Control has developed a dashboard to show the credit market implications of the Covid-19 crisis
- [Reviving Securitisation in Europe](https://www.riskcontrollimited.com/insights/reviving-securitisation-in-europe/) - New research note by Risk Control on Reviving Securitisation in Europe by Scaling Inputs to Capital Formulae highlighting a simple solution for the SEC-SA.
- [Risk Control Projects on MDB Risk Transfer and Risk Benchmarking](https://www.riskcontrollimited.com/insights/risk-control-projects-on-mdb-risk-transfer-and-risk-benchmarking/) - Risk Control is among the recipients of funding announced by the MDB Challenge Fund at the June 2023 New Financial Pact Summit, chaired by Emmanuel Macron, President of the French Republic and Narendra Modi, Prime Minister of India.
- [Financial Regulation and Capital Flows to EMDEs](https://www.riskcontrollimited.com/insights/financial-regulation-and-capital-flows-to-emdes/) - This Risk Control report examines the effects of developed country financial regulation on capital flows to Emerging Market and Developing Economies (EMDEs).
- [MDB Portfolio Expansion - Agency Ratings and Value at Risk](https://www.riskcontrollimited.com/insights/mdb-portfolio-expansion-agency-ratings-and-value-at-risk/) - This Risk Control study analyses the effect on the agency rating of a stylised MDB of a proportionate increase in its Development Related Asset (DRA) portfolio.
- [MDB Sovereign Loan Credit Performance and PCT](https://www.riskcontrollimited.com/insights/mdb-sovereign-loan-credit-performance-and-pct/) - This Risk Control study, commissioned by the G20's CAF Panel, quantifies Preferred Creditor Treatment (PCT) for Multilateral Development Banks (MDB)
- [Comparing CB, ABS and Corporate Bond Liquidity](https://www.riskcontrollimited.com/insights/comparing-cb-abs-and-corporate-bond-liquidity/) - This study commissioned by AFMEexamines the relative liquidity of Asset Backed Securities (ABS), Covered Bonds (CBs) and Corporate Bonds (Corps).
- [Issuer Perspectives: Regulatory Impact on Issuance](https://www.riskcontrollimited.com/insights/issuer-perspectives-regulatory-impact-on-issuance/) - Comments by Georges Duponcheele, Risk Control, who spoke on Issuer Perspectives: Regulatory Impact on Issuance at SCI's 8th Annual Capital Relief Trades Seminar
- [Estimating Volatility for Long Holding Periods ](https://www.riskcontrollimited.com/insights/estimating-volatility-for-long-holding-periods/) - This note describes the construction of a model-free volatility estimator to investigate the long horizon volatility of various interest rate time series and study the implications for short rate models.
- [The Estimation of Transition Matrices for Sovereign Credit Ratings ](https://www.riskcontrollimited.com/insights/the-estimation-of-transition-matrices-for-sovereign-credit-ratings/) - This paper shows how one may combine information from sovereign defaults observed over a longer period and a broader set of countries to derive estimates of sovereign transition matrices.
- [Regulatory and 'Economic' Solvency Standards for Internationally Active Banks ](https://www.riskcontrollimited.com/insights/regulatory-and-economic-solvency-standards-for-internationally-active-banks/) - This article sheds light on the solvency standards implied by current and possible future G10 bank regulation and on the 'economic solvency standard' that banks choose themselves by their own capital setting decisions
- [Estimation of Credit Spread Correlations ](https://www.riskcontrollimited.com/insights/estimation-of-credit-spread-correlations/) - This paper calculates long-holding period correlations for emerging market sovereign spreads and compares these with the correlations of equity market indices for the same countries
- [How Risky are Structured Exposures Compared to Corporate Bonds? ](https://www.riskcontrollimited.com/insights/how-risky-are-structured-exposures-compared-to-corporate-bonds/) - This paper compares the risk of structured exposures with that of defaultable corporate bonds with the same agency ratings
- [Capital for Structured Products ](https://www.riskcontrollimited.com/insights/capital-for-structured-products/) - This paper describes a methodology we have developed for calculating ratings-based capital charges for structured products like structured exposures
- [Judgmental Versus Quantitative Credit Risk Measures for Sovereigns ](https://www.riskcontrollimited.com/insights/judgmental-versus-quantitative-credit-risk-measures-for-sovereigns/) - This paper compares the informational content of judgmentally determined sovereign ratings produced by a private sector bank and by the rating agency Standard and Poor's, with ratings derived from econometric analysis of sovereign default
- [Hedging and Asset Allocation for Structured Products ](https://www.riskcontrollimited.com/insights/hedging-and-asset-allocation-for-structured-products/) - This paper presents techniques for hedging structured products in incomplete markets
- [The Dependence of Recovery Rates and Defaults ](https://www.riskcontrollimited.com/insights/the-dependence-of-recovery-rates-and-defaults/) - This paper presents evidence that aggregate quarterly default rates and recovery rates are, in fact, negatively correlated
- [Securitisations in Basel II ](https://www.riskcontrollimited.com/insights/securitisations-in-basel-ii/) - This article describes the Basel II capital rules for securitisation exposures, explaining (i) the considerations that influenced regulators' decisions, (ii) the approaches for calculating capital and how banks will apply them, (iii) the financial engineering that underlies the different approaches and (iv) the likely impact of the new system
- [Ratings-Based Pricing and Stochastic Spreads ](https://www.riskcontrollimited.com/insights/ratings-based-pricing-and-stochastic-spreads/) - This paper generalizes a class of ratings-based credit derivative models proposed by Jarrow, Lando, and Turnbull (1997) and Kijima and Komorib-ayashi (1998) to allow for stochastic spreads and then applies this model to analyze empirically the pricing of large cross sections of corporate bonds and Asset Backed Securities
- [Dynamic Pricing of Synthetic Collateralized Debt Obligations](https://www.riskcontrollimited.com/insights/dynamic-pricing-of-synthetic-collateralized-debt-obligations/) - This paper applies a new class of dynamic credit loss rate models to the pricing of benchmark synthetic Collateralized Debt Obligations (CDOs)
- [Dynamic Default Rates](https://www.riskcontrollimited.com/insights/dynamic-default-rates/) - This paper develops new, dynamic and conditional versions of Vasicek's widely used single factor, default rate distribution
- [Determinants of Asset-Backed Security Prices in Crisis Periods](https://www.riskcontrollimited.com/insights/determinants-of-asset-backed-security-prices-in-crisis-periods/) - This paper investigates the different factors that contribute to the cross-sectional pattern of spreads in Asset-Backed Security (ABS) prices in times of crisis
- [Bank Liquidity Standards: A Microeconomic Analysis](https://www.riskcontrollimited.com/insights/bank-liquidity-standards-a-microeconomic-analysis/) - This paper formulates a simulation model of a bank balance sheet and analyses optimal choices of portfolio credit quality and funding maturity under different assumptions about liquid assets requirements that may be imposed by regulators
- [Top Down Stress Testing for Bank Financial Statements: A Case Study](https://www.riskcontrollimited.com/insights/top-down-stress-testing-for-bank-financial-statements-a-case-study/) - This note shows through a case study how Risk Control’s Stress ControllerTM software may be used to implement top down stress testing of a bank
- [A Principles-Based Approach to Regulatory Capital for Securitisations](https://www.riskcontrollimited.com/insights/a-principles-based-approach-to-regulatory-capital-for-securitisations/) - This paper develops a principles-based approach to calculating regulatory capital for securitisations
- [The Simplified Arbitrage-Free Approach](https://www.riskcontrollimited.com/insights/the-simplified-arbitrage-free-approach/) - This paper proposes a variant of the Arbitrage-Free Approach (AFA) (developed by Duponcheele et al. (2013)) applicable when the available inputs are risk weights alone
- [Maturity Effects in Securitisation Capital: Total Capital Levels and Dispersion Across Tranches](https://www.riskcontrollimited.com/insights/maturity-effects-in-securitisation-capital-total-capital-levels-and-dispersion-across-tranches/) - This paper examines how the capital required for securitisation tranche exposures varies as the maturity of the securitisation increases
- [Granularity, Heterogeneity and Securitisation Capital](https://www.riskcontrollimited.com/insights/granularity-heterogeneity-and-securitisation-capital/) - This paper examines the effects of granularity and heterogeneity on capital requirements for securitisation transactions
- [Covered Bond versus ABS Liquidity](https://www.riskcontrollimited.com/insights/covered-bond-versus-abs-liquidity/) - This paper critically examines the EBA’s analysis, focussing on the exclusion of bid-ask spread data from the evidence employed.
- [Reducing the Reliance of Securitisation Capital on Agency Ratings](https://www.riskcontrollimited.com/insights/reducing-the-reliance-of-securitisation-capital-on-agency-ratings/) - This paper describes the disadvantages of using agency ratings for securitisations in regulatory applications, and in particular as a basis for regulatory capita
- [Calibration of the Simplified Supervisory Formula Approach](https://www.riskcontrollimited.com/insights/calibration-of-the-simplified-supervisory-formula-approach/) - In this paper, we present an alternative way to calibrate the SSFA that is more straightforward and transparent
- [Calibration of the CMA and Regulatory Capital for Securitisations](https://www.riskcontrollimited.com/insights/calibration-of-the-cma-and-regulatory-capital-for-securitisations/) - This paper presents a calibration of the Conservative Monotone Approach (CMA), a model of capital for securitisation tranches, and shows how it may be used as the basis for regulatory capital
- [Case Study on Banking System Stress Testing](https://www.riskcontrollimited.com/insights/case-study-on-banking-system-stress-testing/) - This note presents a stress testing case study for a set of banks with inter-bank obligations, illustrating how stress testing may be accomplished using Risk Control’s RC-ICAAP and Stress Testing System
- [High Quality Securitisation: An Empirical Analysis of the PCS Definition](https://www.riskcontrollimited.com/insights/high-quality-securitisation-an-empirical-analysis-of-the-pcs-definition/) - This paper discusses existing ways of classifying securitisations employed by the industry, central banks and regulators and investigates statistically
- [Quantitative Impacts of BCBS 269 Securitisation Capital Approaches](https://www.riskcontrollimited.com/insights/quantitative-impacts-of-bcbs-269-securitisation-capital-approaches/) - This note presents comparisons of risk weights calculated using three approaches proposed in the recent Basel consultative paper on securitisation capital, BCBS 269
- [Case Study on Consistent Scenario Expansion](https://www.riskcontrollimited.com/insights/case-study-on-consistent-scenario-expansion/) - To meet the needs of banks involved in stress testing, Risk Control has developed a data-driven framework for consistent scenario expansion
- [Securitisation Purchases by the ECB - What is "Senior Enough"?](https://www.riskcontrollimited.com/insights/securitisation-purchases-by-the-ecb-what-is-senior-enough/) - This note sets out a simple way in which the attachment point of a securitisation tranche may be assessed and deemed "Senior Enough" or "Not"
- [AFA Capital - An Introduction](https://www.riskcontrollimited.com/insights/afa-capital-an-introduction/) - Risk Control is working with a Quant Group comprising securitisation specialists from several banks on analysing the Basel Committee’s recent proposals on regulatory capital for securitisations
- [How to Revive the European Securitisation Market: a Proposal for a European SSFA](https://www.riskcontrollimited.com/insights/how-to-revive-the-european-securitisation-market-a-proposal-for-a-european-ssfa/) - In this paper, we present a quantitative impact study of the different approaches employed in the current rules and proposed by regulators and the industry
- [Scenario-based RORC Optimisation for a Bank Loan Book](https://www.riskcontrollimited.com/insights/scenario-based-rorc-optimisation-for-a-bank-loan-book/) - This note presents a methodology for making comparisons and for assessing how strategic changes in lending volumes devoted to different asset classes and markets affect the bank’s overall return-to-capital ratios.
- [The 5 Percent Securitisation Retention Threshold - A Short Technical History](https://www.riskcontrollimited.com/insights/5-percent-securitisation-retention/) - This short note explains how accounting constraints drove the choice of 5% and explains why these constraints will apply under IFRS 9.
- [Comment on Antoniades and Tarashev](https://www.riskcontrollimited.com/insights/comment-on-antoniades-and-tarashev/) - In this note, we point out that their strong conclusions are highly sensitive to the capital model employed
- [Case Study on Stress Testing for an Asset Manager-Private Bank](https://www.riskcontrollimited.com/insights/case-study-on-stress-testing-for-an-asset-manager-private-bank/) - This note presents an illustrative case study of stress testing for an asset manager accomplished using Risk Control’s RC-ICAAP and Stress Testing System TM software
- [Response to BCBS-IOSCO Consultation](https://www.riskcontrollimited.com/insights/response-to-bcbs-iosco-consultation/) - This document sets out Risk Control’s response to the BCBS-IOSCO consultative document entitled “Criteria for identifying simple, transparent and comparable securitisations”
- [Response to BCBS Consultation on Revised Credit Risk SA](https://www.riskcontrollimited.com/insights/response-to-bcbs-consultation-revised-credit-risk-sa/) - This document provides comments on BCBS 307 which describes the Basel Committee’s proposals for a revised credit risk Standardised Approach (SA)
- [Default Probability Risk and Securitisation Capital](https://www.riskcontrollimited.com/insights/default-probability-risk-and-securitisation-capital/) - This paper develops a simple but rigorous approach to allowing for default probability risk in securitisation capital calculations
- [Consultation Response on EU Framework for Simple, Transparent and Standardised Securitisation](https://www.riskcontrollimited.com/insights/consultation-eu-framework-securitisation/) - Risk Control thanks the European Commission for the opportunity to address the issues raised in the Consultation Document on an EU framework for simple, transparent and standardised securitisation published on 18th February 2015 (the “Consultation”).
- [Comparing Bank Risk Measures](https://www.riskcontrollimited.com/insights/comparing-bank-risk-measures/) - This note provides perspectives on different measures of credit risk applicable to bank exposure
- [Capital Floors, the Revised SA and the Cost of Loans in Switzerland](https://www.riskcontrollimited.com/insights/capital-floors-revised-sa/) - This paper examines the effects of the proposed changes in capital rules on the Swiss loan market
- [How European securitisation could assist SME financing](https://www.riskcontrollimited.com/insights/how-european-securitisation-could-assist-sme-financing/) - This note describes the financing pressure on European SMEs stemming from shortages of bank capital, explains how this could be alleviated by securitisation, sets out the impediments to the revival of the securitisation market in Europe and suggests some practical policy solutions.
- [The EBA’s Proposed Capital Rules for Qualifying Securitisations](https://www.riskcontrollimited.com/insights/eba-proposed-capital-rules/) - The European Banking Authority has published proposals for a ‘rescaling’ or reduction in regulatory capital risk weights for securitisations
- [Comments on the Commission’s Proposals for Reviving the European Securitisation Market](https://www.riskcontrollimited.com/insights/comment-commission-proposals-securitisation/) - This paper sets out the background to these proposals, analyses impediments to their success and suggests remedies.
- [Top Down Stress Testing for Bank Financial Statements: A Case Study](https://www.riskcontrollimited.com/insights/top-down-stress-testing-for-bank-financial-statements-a-case-study-2/) - This note shows through a case study how Risk Control’s Stress Controller software may be used to implement top down stress testing of a bank
- [Update on Capital Floors, the Revised SA and the Cost of Loans in Switzerland](https://www.riskcontrollimited.com/insights/update-on-capital-floors-revised-sa/) - This paper examines the effects of the proposed changes in capital rules on the Swiss loan market
- [Multilateral Development Bank Ratings and Preferred Creditor Status](https://www.riskcontrollimited.com/insights/multilateral-development-bank-ratings-and-preferred-creditor-status/) - This paper analyses influences on the credit standing of Multilateral Development Banks (MDBs)
- [Solvency II Capital Calibration for Securitisations](https://www.riskcontrollimited.com/insights/solvency-ii-calibration/) - This paper presents evidence on how securitisation capital for insurers should be calibrated.
- [Rating Correlations and Macro Stress Testing](https://www.riskcontrollimited.com/insights/rating-correlations-and-macro-stress-testing/) - This paper analyses the dynamics of credit ratings. We devise statistical techniques for estimating both intra- and inter-industry correlations between factors driving ratings changes
- [Capital and Risk in Bancassurance Organisations](https://www.riskcontrollimited.com/insights/capital-and-risk-in-bancassurance-organisations/) - This study has devised and implemented for a sample of UK non-life assurers a risk management model that allows one to calculate the failure probabilities
- [Drivers of Liquidity in the EU Corporate Bond Market](https://www.riskcontrollimited.com/insights/drivers-of-liquidity-in-the-eu-corporate-bond-market/) - This report for the European Commission provides comprehensive evidence on the evolution of market liquidity in the European corporate bond market.
- [Forecasting Assets under Management for Stress Testing and Strategy Purposes](https://www.riskcontrollimited.com/insights/forecasting-assets-under-management-for-stress-testing-and-strategy-purposes/) - This paper develops statistical methods for forecasting Assets under Management and applies them to data for 2,494 UK, French, German and Italian-domiciled funds
- [Implementation of SEC-IRBA by European Banks](https://www.riskcontrollimited.com/insights/implementation-of-sec-irba-by-european-banks/) - This paper provides a comment on the Regulatory Technical Standard (RTS) recently issued by the European Banking Authority’s (EBA) on the use of the Purchased Receivables Approach (PuRA) by European banks.
- [Survey on the Impact of MiFID II on European Investment Research](https://www.riskcontrollimited.com/insights/survey-on-the-impact-of-mifid-ii-on-european-investment-research/) - Risk Control is pleased to announce the launch of a Survey on the Impact of MiFID II unbundling rules on European investment research with a particular focus on corporate Fixed Income securities and SME equities.
- [Top-down and Performance-based SME Probabilities of Default](https://www.riskcontrollimited.com/insights/top-down-and-performance-based-sme-probabilities-of-default/) - This note summarises the results of an exercise to estimate probabilities of default (PDs) using the Top-Down approach (commonly employed by IRB banks)
- [Lectures on Securitisation: Regulation and Practice](https://www.riskcontrollimited.com/insights/lectures-on-securitisation-regulation-and-practice/) - The lectures provide a balanced overview of the securitisation market with an emphasis on its risk characteristics and how those are reflected in regulatory frameworks.
- [Predicting Default for UK SMEs Using Companies House Data](https://www.riskcontrollimited.com/insights/pd-analysis-for-uk-smes-using-companies-house-data/) - This note demonstrates how to use Rating Engine, a software developed by Risk Control Limited, to estimate probabilities of default (PD) for UK companies.
- [Covid-19 Crisis Update: What happened to Sovereign Credit Quality in July?](https://www.riskcontrollimited.com/insights/we-answer-the-question-what-happened-to-sovereign-credit-quality-in-july/) - We estimate Probabilities of Default (PDs) from Credit Default Swap (CDS) spreads and infer real time ratings.
- [Gainers and the Losers: Real-Time Industry PDs in the Covid-19 Crisis](https://www.riskcontrollimited.com/insights/gainers-and-the-losers-real-time-industry-pds-in-the-covid-19-crisis/) - This note shows how representative probabilities of default (PDs) for individual industry sectors have evolved since the crisis began.
- [Updated Note on Real-Time Sovereign Ratings](https://www.riskcontrollimited.com/insights/updated-note-on-real-time-sovereign-ratings/) - Risk Control examines how implied sovereign real-time ratings have declined since the start of 2020 reflecting the incidence on different governments of the Covid-19 crisis.
- [Real-Time Sovereign Ratings in the COVID-19 Crisis](https://www.riskcontrollimited.com/insights/real-time-sovereign-ratings-in-the-covid-19-crisis/) - We examine how implied sovereign real-time ratings have declined since the start of 2020 reflecting the incidence on different governments of the Covid-19 crisis
- [Regional Bank Default Probabilities in the Covid-19 Crisis](https://www.riskcontrollimited.com/insights/regional-bank-default-probabilities-in-the-covid-19-crisis/) - This note presents bank default probabilities in the Covid-19 crisis in the form of regional indices
- [The Impact of MiFID II Rules on SME and Fixed Income Investment Research](https://www.riskcontrollimited.com/insights/the-impact-of-mifid-ii-rules-on-sme-and-fixed-income-investment-research/) - This study for the European Commission combines statistical analysis, surveys, interviews and legal analysis to shed light on how MiFID II has affected the research market
- [Global Credit Market Update: November 2020](https://www.riskcontrollimited.com/insights/global-credit-market-update-november-2020/) - This insight provides an update on how Global Credit Markets have been affected by the Covid-19 crisis.
- [Infrastructure Debt Capital Charges for Insurers](https://www.riskcontrollimited.com/insights/infrastructure-debt-capital-charges-for-insurers/) - This study examines whether capital charges for infrastructure debt should be lower than the charges currently required by the Solvency II and IAIS regulatory frameworks.
- [ESG Strategy for Banks: Tackling the Data Problem](https://www.riskcontrollimited.com/insights/esg-strategy-for-banks-tackling-the-data-problem/) - This note discusses the data strategy that banks should follow in implementing their broader ESG policies.
- [Risk Transfer for Multilateral Development Banks: Obstacles and Potential](https://www.riskcontrollimited.com/insights/risk-transfer-for-multilateral-development-banks-obstacles-and-potential/) - This paper argues that Risk Transfer, as a complement to equity injections, could permit higher MDB lending by attracting a broader class of investors.
- [Capital Consumption-Based Limits: Integrating Limit and Capital Software Systems](https://www.riskcontrollimited.com/insights/capital-consumption-based-limits-integrating-limit-and-capital-software-systems/) - This note explains how Risk Control's Limit System and Capital Model may be combined conveniently to implement Economic Capital-based limits.
- [ESG and Credit Rating Correlations](https://www.riskcontrollimited.com/insights/esg-and-credit-rating-correlations/) - This report analyses the statistical properties of ESG ratings including their univariate behaviour and their correlations.
- [ABS and Covered Bond Risk and Solvency II Capital Charges](https://www.riskcontrollimited.com/insights/abs-and-covered-bond-risk-and-solvency-ii-capital-charges/) - This study analyses the relative risk of European Asset Backed Security (ABS) tranches and Covered Bonds (CBs) and draws lessons about insurer capital charges
- [Comparing ABS and Covered Bond Liquidity](https://www.riskcontrollimited.com/insights/comparing-abs-and-covered-bond-liquidity/) - This study commissioned by AFME examines the relative liquidity of senior Asset Backed Securities (ABS) and Covered Bonds (CBs).
- [Risk Analysis for Securitisation Portfolios](https://www.riskcontrollimited.com/insights/risk-analysis-for-securitisation-portfolios/) - The models presented in this note constitute a toolbox of rigorous techniques for analysing securitisation portfolio risk.

## Categories

- [Uncategorized](https://www.riskcontrollimited.com/category/uncategorized/)
- [Research](https://www.riskcontrollimited.com/category/research/)
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## Tags

- [Training](https://www.riskcontrollimited.com/tag/training/)
- [ICAAP](https://www.riskcontrollimited.com/tag/icaap/)
- [Investment Firms](https://www.riskcontrollimited.com/tag/investment-firms/)
- [Risk](https://www.riskcontrollimited.com/tag/risk/)
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- [bespoke](https://www.riskcontrollimited.com/tag/bespoke/)
- [develop](https://www.riskcontrollimited.com/tag/develop/)
- [bonds](https://www.riskcontrollimited.com/tag/bonds/)
- [bond liquidity](https://www.riskcontrollimited.com/tag/bond-liquidity/)
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- [asset management](https://www.riskcontrollimited.com/tag/asset-management/)
- [Banks](https://www.riskcontrollimited.com/tag/banks/)
- [Insurers](https://www.riskcontrollimited.com/tag/insurers/)
- [Public Institutions](https://www.riskcontrollimited.com/tag/public-institutions/)
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- [Regulation](https://www.riskcontrollimited.com/tag/regulation/)
- [ratings](https://www.riskcontrollimited.com/tag/ratings/)
- [Covid-19](https://www.riskcontrollimited.com/tag/covid-19/)
- [credit markets](https://www.riskcontrollimited.com/tag/credit-markets/)
- [sovereign ratings](https://www.riskcontrollimited.com/tag/sovereign-ratings/)
- [industry sector PDs](https://www.riskcontrollimited.com/tag/industry-sector-pds/)
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- [Asset Managers](https://www.riskcontrollimited.com/tag/asset-managers/)
- [Methodology](https://www.riskcontrollimited.com/tag/methodology/)

## Insight Categories

- [Regulation](https://www.riskcontrollimited.com/insight-category/regulation/)
- [Securitisation](https://www.riskcontrollimited.com/insight-category/securitisation/)
- [Risk Methods](https://www.riskcontrollimited.com/insight-category/risk-methods/)
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- [Counterparty Risk](https://www.riskcontrollimited.com/insight-category/counterparty-risk/)
- [Development Finance](https://www.riskcontrollimited.com/insight-category/development-finance/)

## Insight Sectors

- [Banks](https://www.riskcontrollimited.com/insight-sector/banks/)
- [Public Institutions](https://www.riskcontrollimited.com/insight-sector/public-institutions/)
- [Insurers](https://www.riskcontrollimited.com/insight-sector/insurers/)
- [Investment Firms](https://www.riskcontrollimited.com/insight-sector/investment-firms/)
- [Industrial Companies](https://www.riskcontrollimited.com/insight-sector/industrial-companies/)
- [Asset Managers](https://www.riskcontrollimited.com/insight-sector/asset-managers/)
- [MDBs](https://www.riskcontrollimited.com/insight-sector/mdbs/)
- [DFIs](https://www.riskcontrollimited.com/insight-sector/dfis/)