Over the last fifty years, increasingly sophisticated risk measurement
and management techniques have revolutionized the field of finance. More
recently, the globalization of financial markets and policy changes in
the regulation of financial institutions have impacted upon how
commercial banks manage risk. The widespread implications of these
fundamental changes prompted an international conference held in May,
1997, devoted to the topic of risk management and regulation in banking.
This book contains the formal papers and the panel discussions that
comprise the conference proceedings, and thus collects some of the
latest research on managing financial market risk by top scholars,
policymakers, and high-ranking banking officials from around the world.