Advance Credit And Project Finance- A Practical Case Study Approach Workshop

Deepa Govindarajan Driver, Lecturer in Governance, Risk and Regulation, has been selected for individual expert membership of the international association Finance Watch.

The large fine imposed on RBS last week suggests that a ‘scandal’ took place in the banking world over the setting of LIBOR. Yes – there was probably systematic mis-pricing of LIBOR which enabled some traders and some banks to profit at the expense of others. But the LIBOR issue simply highlights a much wider problem in financial markets which is that many ‘prices’ quoted in markets are not market prices at all. Instead they are prices based on computer models, matrix pricing or sheer guesswork, which may or may not produce ‘accurate’ prices. The reason for using computers models and guesswork is that in many financial products there actually are no transactions at all or very few even over periods of some weeks or months and thus no market prices.

It has only been a couple of months since we welcomed new and returning students to the ICMA Centre, but with the holiday season fast approaching, the end of the first term is almost upon us. To celebrate, the ICMA Centre students and staff attended the annual Christmas party.