Takes a humorous view, using Sherlock Holmes and Dr Watson, in setting up a hypothetical case of derivative investigation by the two sleuths. Asks a few questions along the way and uses a figure to add emphasis to “the entangled equilibrium of principal and interest”. Cryptic clues abound in...

The authors trace the inside story of a ground‐breaking transaction which they pioneered. It enabled Barclays Bank to shed all the credit risk it held as the result of originating unsecured consumer loans in a particular branded portfolio. As such the transaction allowed Barclays to separate...

Recent proposals to require all financial instruments to be measured at fair value are raising some pretty basic issues about bank accounting. The author, who headed up the UK end of the project to produce the new rules, argues whether, as bankers might suggest, they are overkill or whether they...