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VaR models need revaluing, says FSA chairman Turner


Lord Turner, chairman of the UK Financial Services Authority, has hinted that regulators are preparing to take action on credit default swaps and rules for valuing instruments on trading books.

Delivering The Economist’s inaugural City lecture in London on January 21, he said that to reduce the chance of future financial crises, “the response needs to be multifaceted” and that one of these facets was...

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