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  • 26.) Ian Gaskell, Lauren Rieder, Bruce Jin, Carol Mathis Are Warned of Other Banks Writing Down CDOs To 25:00

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    Failure of Royal Bank of Scotland (RBS) Risk Management
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    Ian Gaskell, Lauren Rieder, Bruce Jin, and Carol Mathis of RBS were warned by other banks that CDOs would be written down to 25% of their value but prohibited writedowns in 2007 that could have impacted end-of-year bonuses or RBS's merger with ABN Amro. RBS denied that the market research provided substantive valuation analysis of ABS CDOs and claimed it did not have pricing information for ABS CDOs in 2007, despite evidence included in the research that contradicted this claim. The document identifies this as an operational risk management issue for RBS related to independent price verification, as other banks were reporting major losses on ABS CDOs.

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    26.) Ian Gaskell, Lauren Rieder, Bruce Jin, Carol Mathis Are Warned of Other Banks Writing Down CDOs to 25:00

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    Ian Gaskell, Lauren Rieder, Bruce Jin, and Carol Mathis of RBS were warned by other banks that CDOs would be written down to 25% of their value but prohibited writedowns in 2007 that could have impacted end-of-year bonuses or RBS's merger with ABN Amro. RBS denied that the market research provided substantive valuation analysis of ABS CDOs and claimed it did not have pricing information for ABS CDOs in 2007, despite evidence included in the research that contradicted this claim. The document identifies this as an operational risk management issue for RBS related to independent price verification, as other banks were reporting major losses on ABS CDOs.

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    1K просмотров1 страница

    26.) Ian Gaskell, Lauren Rieder, Bruce Jin, Carol Mathis Are Warned of Other Banks Writing Down CDOs To 25:00

    Загружено:

    Failure of Royal Bank of Scotland (RBS) Risk Management
    Ian Gaskell, Lauren Rieder, Bruce Jin, and Carol Mathis of RBS were warned by other banks that CDOs would be written down to 25% of their value but prohibited writedowns in 2007 that could have impacted end-of-year bonuses or RBS's merger with ABN Amro. RBS denied that the market research provided substantive valuation analysis of ABS CDOs and claimed it did not have pricing information for ABS CDOs in 2007, despite evidence included in the research that contradicted this claim. The document identifies this as an operational risk management issue for RBS related to independent price verification, as other banks were reporting major losses on ABS CDOs.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 1

    https://drive.google.com/open?

    id=0BzKpYGA_5moJQmM3RTBpVnF6Z28

    Ian Gaskell, Lauren Rieder, Bruce Jin, and Carol Mathis are warned of other banks writing down CDOs to 25:00, but they
    forbid 2007 RBS writedowns which might impede year-end bonuses or the RBS-ABN Amro merger. See embedded link to
    2007 CDO market research article. < https://drive.google.com/file/d/0BzKpYGA_5moJcUZkU2xKU2tJeFU/view >

    RBS denied this as substantive valuation analysis for ABS CDOs. It characterized this market research as an "unstructured
    provision of press reports, research notes and market information relating to the valuation of ABS CDOs held by other
    institutions." Yet, this is the 2007 ABS CDO market pricing information which RBS claims not to have existed.

    This is an Operational Risk Management loss event, pertaining to Independent Price Verification controls, as Morgan
    Stanley, UBS, Citi, Merrill, and others meanwhile report major ABS CDO losses.

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