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Which banks are good at telling their shareholders and counterparties about risks they are running and how they manage them? The answer is, none. Not one of the world’s top global players discloses a satisfactory amount. Most feed pap to the readers of their annual reports about the nature of swaps and standard deviations without showing how they apply risk measurement to their own exposures, let alone saying what the numbers are. Geneva-based think-tank Ifci (International Finance & Commodities Institute) commissioned a study on bank disclosure based on their annual reports. |
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