Alessandro Aimone

London

Editor, Risk Quantum at Risk.net

Editor of Risk Quantum https://t.co/YcUu9KoN4u

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Articles

First Foundation reveals $215m goodwill charge

Aug 9, 2023 | risk.net | Alessandro Aimone

First Foundation incurred a pre-tax goodwill impairment charge of $215.3 million in the second quarter of the year, resulting in a 360% increase in its non-interest expense. The Dallas-based institution attributed the charge to a “drastic change in macroeconomic conditions” and a series of interest rate hikes from the Federal Reserve, all of which negatively impacted its market valuation.
StanChart racked up three VAR breaches in H1

Aug 8, 2023 | risk.net | Alessandro Aimone

Standard Chartered notched three value-at-risk (VAR) backtesting exceptions in the first six months of the year, bringing it to the verge of higher capital charges for trading activities. The latest overshoots, one in March and two in June, followed five breaches in the second half of last year, taking the one-year rolling total to eight. One extra backtesting excess during the period would have triggered an increase in the multiplier used to translate VAR readings into capital charges.
NatWest’s LCR dips 4% as liquidity buffers shrink

Aug 7, 2023 | risk.net | Alessandro Aimone

NatWest Group’s average liquidity coverage ratio (LCR) dropped six percentage points to 145% in the second quarter, after the lender shed easy-to-sell assets and saw a reduction in customer deposits. The UK bank’s stock of high-quality liquid assets (HQLAs) shrank 7% to £168.7 billion ($215.3 billion) in the three months to end-June, to the lowest point since Q4 2020.
ING’s market risk up 13% on higher SVAR

Aug 6, 2023 | risk.net | Alessandro Aimone

ING Bank’s modelled market risk charges rose 13% in the second quarter inflated by the bank’s stressed value-at-risk (SVAR) component, pushing capital requirements to their highest in a year. SVAR-based RWAs climbed 29% to €4.3 billion ($4.7 billion) in the three months to end-June, the highest reading since Q2 2022. This pushed the output of ING’s market risk models to €9.5 billion, an increase of just over €1 billion from end-March.