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What risk disclosures tell us about Goldman’s problems and Morgan Stanley’s success

8 September 2017BanksNick Dunbar

Morgan Stanley has vaulted over Goldman this year in fixed income trading. Analysis of risk disclosures helps explain the divergence between the two firms.

Are the Dodd-Frank stress tests running out of steam?

11 July 2017BanksNick Dunbar

Is the Fed’s DFAST stress test telling us that banks are getting safer, or are the banks just getting better at doing the internal modelling?

Brexit and HSBC’s risk reduction bonuses

15 March 2017Articles, Banks, Risk CommentaryNick Dunbar

HSBC paid senior executives millions in bonuses for achieving RWA reduction targets. But how much was the result of their efforts?

Morgan Stanley’s capital secret

3 January 2017Articles, BanksNick Dunbar

After making dramatic cuts to its balance sheet and capital requirements, Morgan Stanley is boosting returns in fixed income. Is the bank using bond ETFs for regulatory capital arbitrage?

Season of goodwill

22 December 2016Articles, BanksNick Dunbar

Christmas is when European banks typically book restructuring costs and goodwill writedowns. A study of quarterly profits shows the divergence versus US banks.

How the Fed’s physical commodity rule hits Goldman

22 September 2016Articles, Bankscommodity risk, Goldman SachsNick Dunbar

The Federal Reserve’s proposal to sharply raise capital requirements for bank physical commodity holdings puts Goldman Sachs on the spot and highlights the regulatory drive to rebuild barriers between banking and commerce.

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