... analysis on a stress period of the Hong Kong banking sector. Findings The paper finds that econometric modeling does not work well modeling stress scenarios. The stressed probability of default (PD) provided by Basel II would be much higher than stressed PD observed in the history. Practical...

... (FSA) in seeking to achieve its regulatory objectives as set out in sections 3‐6 of the Financial Services and Markets Act 2000. A great deal has been written on the topic of compliance and competence and the core objective of this paper is to offer a compliance competence model for financial...