New Horizons in Central Bank Risk Management - Risk Books
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New Horizons in Central Bank Risk Management

Edited By Robert Pringle and Nick Carver

Overview

New Horizons in Central Bank Risk Management demonstrates how central bankers identify and manage the risks they face, as well as developing innovative means and organisational structures to manage a range of risks from day-to-day aspects to ‘one-off’ events.


Including a detailed survey of 30 central bank risk managers, the book explores practices in some of the world’s leading central banks and provides a benchmark against which central banks can compare their techniques, organisation and performance, covering areas such as business continuity, legal risks, reserves management, operational risk, central bank capital and balance sheet strength, strategic organisation and systemic risk management.


A Central Banking Publications book

Publish date: 15 Jun 2003

Availability: In stock

£200.00
OR

Book description

Operational failure; litigation; deflation; systemic failures – the risks central banks face are multiplying. Though increasingly risk aware, central banks must foster an organisational framework that not only enables new risks to be identified, but also delivers effective risk mitigation and coordinated responses. An attitude of caution is not enough.

How can central banks structure the risk management function to achieve an appropriate risk profile? How can they ensure that they are identifying and prioritising risks appropriately? How can they best manage the risks that impinge on their balance sheets? Should they take into account the implications for the national balance sheet? If so, how?

New Horizons in Central Bank Risk Management tackles these issues head on.

An in-depth survey of over 30 central bank risk managers reveals:

  • Methods of risk identification, classification and control
  • The risks systematically identified by central banks
  • The contribution risk management makes to sovereign creditworthiness of countries
  • The techniques central bank risk managers employ to measure risk and their attitude towards value at risk.
  • Trends in centralisation and decentralisation of the management of risk and the ‘ownership’ of risks within the bank
  • Approaches to managing operational risk
  • An increased focus on capital and balance-sheet strength
  • Attitudes towards diversification of reserve assets
  • Monitoring of off-balance-sheet risks

The book demonstrates how central bankers are identifying and managing the risks they face, as well as developing innovative means and organisational structures to manage a range of risks from day-to-day aspects to ‘one-off’ events.

Book details

ISBN
9781902182254
Publish date
15 Jun 2003
Format
Paperback
Size
155mm x 235mm

Editor biography

Robert Pringle and Nick Carver

Editor, Robert Pringle, is Chairman of Central Banking Publications. Before starting Central Banking, Robert was for several years Editor of The Banker and subsequently he was closely associated with the establishment of the well-known "think tank", the Group of Thirty, where he served for seven years as the first Executive Director based in New York. He was also for three years a Senior Fellow at the United Nations institute called WIDER in Helsinki.

Nick Carver is the publisher of Central Banking Publications, which he joined as an editorial assistant in 2001. He was assistant editor of Central Banking journal for five years and has co-edited (with Robert Pringle) Central Banking Publications’ annual Reserve Management Trends publication since its launch in 2005. He is also the publisher of Risk Books and Risk Journals, two long-established imprimaturs of Incisive Media, which acquired Central Banking Publications in 2007. He graduated with a master’s degree in economics and politics from the University of Edinburgh and taught English in Japan for two years before joining Central Banking Publications.

Table of contents

Survey of central bank risk managers
Robert Pringle and Nick Carver (Central Banking Publications)

International financial risk management
Alan Greenspan (Board of Governors, Federal Reserve System)

Challenges and risks posed to central banks by deflation
Tony Latter (The University of Hong Kong)

Investment portfolio techniques at a central bank
Etienne Lavigne (National Bank of Belgium)

Implementation of a risk-control framework in the SARB
Callie Hugo (South African Reserve Bank)

Central bank risk management and international accounting standards
Jeremy Foster (PricewaterhouseCoopers)

Operational risk management for central banks
Junji Hiwatashi and Hiroshi Ashida (Bank of Japan)

Legal risk for central banks
Charles Proctor (Tite & Lewis)

Planning for business continuity at the Federal Reserve Bank of New York
Maria Massei-Rosato and Elizabeth G. Mindlin (Federal Reserve Bank of New York)

The duality of managing foreign exchange reserves
Isabelle Strauss-Kahn (Banque de France)

Exchange-rate volatility and reserve management in the Italian experience
Andrea Santorelli (Bank of Italy)

Why central banks need financial strength
Peter Stella (International Monetary Fund)

Central bank balance sheets and fiscal operations
John Hawkins (Bank for International Settlements)

The role of the lender of last resort and risk-management techniques
Anthony M. Santomero and Stephen A. Meyer (Federal Reserve Bank of Philadelphia)

A risk-management framework for a central bank
Isabela R. Damaso and Paulo M.F. de Cacella (Central Bank of Brazil)

How the Czech National Bank manages its risks
Ludek Niedermayer and Jan Schmidt (Czech National Bank)

Concerns and considerations for the practical implementation of the new Basel Accord
Roger W. Ferguson, Jr., (Board of Governors, Federal Reserve System)

Risk management in the Reserve Bank: a 2003 perspective
Steve Anderson (Reserve Bank of New Zealand)

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