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Investment banks to implement new risk management procedures

Leading investment banks are considering bringing in new risk management procedures following the failure of their existing systems to predict losses last year according to the Financial Times.


The report based on a survey of 70 banks conducted by accountants Deloitte & Touche found 24 per cent of those questioned planned to add an &#39extreme value theory&#39 to their existing techniques.


The theory aims to analyse the clusters of events which cause volatility, it is used in addition to standard procedures which use statistical to evaluate events.


At the time the survey was conducted Deloitte Touche says only 5 per cent of the banks were using the method.

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