Banks represent one of the most important parts of the economy in the world. As a result, decisions of bank management affect not just the direct bank stakeholders but the state of the economy and society as a whole. This became evident during the latest financial crisis in 2007 where the failure of one bank resulted in the domino falling that affected banks globally. The regulators increase their attention to the risks that bank face and their measures and requirements. Therefore, the research within the banking area has important consequences from both theoretical and practical side.   The purpose of this project is to investigate whether there is a relationship between dividends that Nordic banks pay and different types of risks such as market, credit (including default), liquidity and operational. The results of the research will contribute to the knowledge in finance and help different stakeholders to understand possible reasons for different dividends level.   The methodological position works as a foundation for the conduction of the research. The epistemological and ontological views applied in this project are positivism and objectivism. The deductive research approach and quantitative research strategy are used for the research and thus the collection and analysis of the archival data of 19 Nordic banks over five year time horizon. The research can therefore be described as a panel study.   Based on the previous research papers the following proxies for risks have been used in the research: market risk – capital requirement for market risk to total assets, credit risk – loan loss provisions to total assets, default risk – Altman Z-score, liquidity risk –liquidity coverage ratio, operational risk – economic capital (capital requirement) for operational risk to total asset.   Ordinary Least Square regression analysis is performed over the collected data in order to fulfil the purpose of the project. The tests results identify that there are no statistically significant relationship between dividends and market, credit, default and liquidity risks and the statistically significant negative relationship between the dividends and operational risk in Nordic banks. These findings contribute to a new knowledge within the finance and banking area in particular. Additionally, this project might be used as a foundation for the further research within the field. The findings are also useful for stakeholders in understanding banks risk level.

由於交換合約為店頭市場交易，故其違約風險的考量為一重要因素。本文依據Wang and Liao（2003）對於權益交換的研究，以及Hübner（2001）對於信用風險的設定，將之結合，在完全市場的假設下，不考慮交易成本以及賦稅影響下，推導出考慮信用風險後的一般化權益交換評價模型，對於各類型的權益交換評價，只需將本文模型假設簡化即可運用。而依據本文推導結果在跨通貨的權益交換模型中，較無跨通貨的權益交換模型多了一個匯率風險調整項，另外在考慮信用風險之後，則會再多出一信用風險調整項。

The financial crisis turmoil has exposed notable weakness in the risk management processes of the financial services industry. It has also led to a critical look at the scope of the various risk types as well as the classification of loss events. More importantly, the effects that incorrect risk classification might have on capital requirements are now also examined and taken into account. Boundary events between credit risk and operational risk continue to be a significant source of concern for regulators and the industry in general. The Basel Committee on Banking Supervision (BCBS) requires that boundary events should be treated as credit risk for the purposes of calculating minimum regulatory capital under the Basel II Framework. Such losses will, therefore, not be subject to any operational risk capital charges. However, for the purposes of internal operational risk management, banks are required to identify all material operational risk losses. Boundary events should be flagged separately within a bank’s internal operational risk database. The Basel II Framework does not provide any further guidelines as to what constitutes boundary events and, therefore, consistent guiding principles that banks can follow for accurately classifying and subsequently flagging such events do not exist. The potential exists that actual boundary events might be classified as purely credit risk, and correctly be included in the credit risk capital charge, but not be flagged separately within the bank’s internal operational risk database. Alternatively, boundary events might be classified as operational risk and, therefore, be subject to the operational risk capital charge, instead of the credit risk capital charge. The former instance might give rise to an operational risk manager not being completely informed of the operational risks that the business is facing. The emphasis should always be on the management of risks and for this reason it is important that a financial institution indicates and flags all boundary events in their operational risk systems. To remedy this lack of guidance on the boundary event issue, guidelines are provided that banks can utilise within their risk classification processes. The approach utilised is to consider mechanisms and tools for classification, guidance from the Operational Risk Data Exchange (ORX) and the BCBS, as well as the International Accounting Standards Board (IASB). By compiling and submitting questionnaires to five South African banks, an investigation is conducted in order to obtain a view of the current mechanisms, tools and approaches that South African Advanced Measurement Approach (AMA) banks currently utilise within their classification processes. The effectiveness of boundary event classification is assessed by analysing the percentage of losses classified as boundary. In addition, the degree of uniformity or disparity in the classification of typical boundary event scenarios is considered. This analysis is performed by providing respondents with a total of 16 typical boundary event risk descriptions, and requesting the respondents to classify each of the losses in the scenarios as credit risk, operational risk or boundary event type. / Thesis (M.Com. (Risk management))--North-West University, Potchefstroom Campus, 2012.

The financial crisis turmoil has exposed notable weakness in the risk management processes of the financial services industry. It has also led to a critical look at the scope of the various risk types as well as the classification of loss events. More importantly, the effects that incorrect risk classification might have on capital requirements are now also examined and taken into account. Boundary events between credit risk and operational risk continue to be a significant source of concern for regulators and the industry in general. The Basel Committee on Banking Supervision (BCBS) requires that boundary events should be treated as credit risk for the purposes of calculating minimum regulatory capital under the Basel II Framework. Such losses will, therefore, not be subject to any operational risk capital charges. However, for the purposes of internal operational risk management, banks are required to identify all material operational risk losses. Boundary events should be flagged separately within a bank’s internal operational risk database. The Basel II Framework does not provide any further guidelines as to what constitutes boundary events and, therefore, consistent guiding principles that banks can follow for accurately classifying and subsequently flagging such events do not exist. The potential exists that actual boundary events might be classified as purely credit risk, and correctly be included in the credit risk capital charge, but not be flagged separately within the bank’s internal operational risk database. Alternatively, boundary events might be classified as operational risk and, therefore, be subject to the operational risk capital charge, instead of the credit risk capital charge. The former instance might give rise to an operational risk manager not being completely informed of the operational risks that the business is facing. The emphasis should always be on the management of risks and for this reason it is important that a financial institution indicates and flags all boundary events in their operational risk systems. To remedy this lack of guidance on the boundary event issue, guidelines are provided that banks can utilise within their risk classification processes. The approach utilised is to consider mechanisms and tools for classification, guidance from the Operational Risk Data Exchange (ORX) and the BCBS, as well as the International Accounting Standards Board (IASB). By compiling and submitting questionnaires to five South African banks, an investigation is conducted in order to obtain a view of the current mechanisms, tools and approaches that South African Advanced Measurement Approach (AMA) banks currently utilise within their classification processes. The effectiveness of boundary event classification is assessed by analysing the percentage of losses classified as boundary. In addition, the degree of uniformity or disparity in the classification of typical boundary event scenarios is considered. This analysis is performed by providing respondents with a total of 16 typical boundary event risk descriptions, and requesting the respondents to classify each of the losses in the scenarios as credit risk, operational risk or boundary event type. / Thesis (M.Com. (Risk management))--North-West University, Potchefstroom Campus, 2012.

台灣已於2007年初正式實施新巴塞爾資本協定(BASEL II)之相關規範，此協定透過三大支柱，強化銀行整體之風險管理，為了使我國金融體系與制度能與國際接軌，金融監理機關已發布相關管理方法與計算方式，以加強其政策面與實務面之配合，而銀行也針對其風險管理制度，進行模型建構與測試，並透過定性及定量等公開揭露，使資本適足率之計算更具風險敏感性，落實市場監督功能。 本研究利用文獻分析與整理，對新巴塞爾資本協定作一整體性之探討與介紹，並針對信用風險之規範，透過訪談，以國內某國際商業銀行為例，描述其建置信用風險管理組織架構過程及目前實施概況。惟當前多數之國內金融機構尚未具有直接實施內部評等法的條件，客戶亦多為國內中小型企業，造成信用評等取得不易，又因為成本與人力分配之考量，導致其實施內部評等法之誘因不足，因此實施近兩年來，銀行仍多採行信用風險標準法。 本論文針對此現象，將分別由銀行與監理機關兩個面向進行探討並提出相關建議，國內各銀行不論其信用風險之資本計提方式是使用標準法或準備邁向基礎與進階之內部評等法，皆應在其成本效益及經濟規模之考量下，建置能判斷授信客戶風險之內部評等模型與整體信用風險控管架構；而金融監理機關也應正視此趨勢，主動並積極建立相關之信用風險資料庫，或與聯徵中心合作，加強我國中小企業之信用評等模型，並應儘速培訓信用風險相關人才，以具備判別各銀行內部信用評等模型差異性之能力。 / Basel II has changed the game of the financial system, and the regime started on 1st January 2007 in Taiwan. The new regulatory capital framework provides incentives for a stronger risk management and makes regulatory capital much closer to economic capital. Furthermore, it relies more on high quality and accurate data, which requires convergence of risk and financial data, information and reporting. However, since the financial crisis began in mid-2007, the majority of losses and most of the build up of leverage occurred not only in the banking but the trading book. An important factor was that the current capital framework for both credit and market risks, a subject whose importance is gaining momentum among the bank these days. The Basel II Accord requires banks to keep capital for Credit risk for banking book exposures and Market risk for trading book exposures. As a result, the bank may be forced to hold more capital than current rules demand to guard against losses on some kind of complex financial products. Taiwan Financial Supervisory Commission has decided to implement Basel II starting from 2007 and the implementation has resulted in a significant impact in the banking industry in Taiwan. However, two years later, most of the banks in Taiwan are still using the standard method to calculate its Credit Risk. By consulting and investigating the Basel II implementation in some representative local banks in Taiwan, this research find some issues and presents several suggestions of the BASEL II implementation in Taiwan.

Copulas are multivariate probability distributions, as well as functions which link marginal distributions to their joint distribution. These functions have been used extensively in finance and more recently in other disciplines, for example hydrology and genetics. This study has two components, (a) the development of copula-based mathematical tools for use in all industries, and (b) the application of distorted copulas in structured finance. In the first part of this study, copulabased conditional expectation formulae are described and are applied to small data sets from medicine and hydrology. In the second part of this study we develop a method of improving the estimation of default risk in the context of collateralized debt obligations. Credit risk is a particularly important application of copulas, and given the current global financial crisis, there is great motivation to improve the way these functions are applied. We compose distortion functions with copula functions in order to obtain greater flexibility and accuracy in existing pricing algorithms. We also describe an n-dimensional dynamic copula, which takes into account temporal and spatial changes. / Thesis (Ph.D.) - University of Adelaide, School of Mathematical sciences, 2009

Diss. (sammanfattning) Stockholm : Handelshögskolan, 2006.

Thesis (Ph. D. in Business Administration)--University of California, Berkeley, May 1999. / Includes bibliographical references (leaves 68-73).

<p>Today all private corporations are obligated by statutory audit. The government of Sweden appointed an investigation to conclude if the audit should be statutory or not. The investigator presented on the third of April 2008 a report (SOU 2008:32) that suggests abolishment of the statutory audit for approximately 97 % of all private corporations in Sweden. This will result in certain effects on the banks credit rating because of the fact that the banks trust the audited accounts to have been audited by an independent audit.</p><p>The most important in the banks credit rating are: personal judgement, business concept, business plan and repayment ability. The banks also use the private corporations audited accounts in its credit rating.</p><p>We conducted a case study by interviewing four bank officials in different banks in Skövde and Tibro. The purpose of the study was to investigate the banks credit rating and the audits importance in the credit rating.</p><p>The conclusion deducted from our case study it that the confidence between the bank and the company is very high valued and that the audit is a sign of quality.</p>

<p>Banking is topic, practice, business or profession almost as old as the very existence of man, but literarily it can be rooted deep back the days of the Renaissance (by the Florentine Bankers). It has sprouted from the very primitive Stone-age banking, through the Victorian-age to the technology-driven Google-age banking, encompassing automatic teller machines (ATMs), credit and debit cards, correspondent and internet banking. Credit risk has always been a vicinity of concern not only to bankers but to all in the business world because the risks of a trading partner not fulfilling his obligations in full on due date can seriously jeopardize the affaires of the other partner.</p><p>The axle of this study is to have a clearer picture of how banks manage their credit risk. In this light, the study in its first section gives a background to the study and the second part is a detailed literature review on banking and credit risk management tools and assessment models. The third part of this study is on hypothesis testing and use is made of a simple regression model. This leads us to conclude in the last section that banks with good credit risk management policies have a lower loan default rate and relatively higher interest income.</p>