The Bank of Finland, in accordance with its regulations, is responsible for the stability of the financial markets. The main actors in the Finnish financial markets are fourteen authorized foreign,exchange banks. The Bank of Finland has therefore set up a risk monitoring system to measure...

The study derives a theoretically and empirically founded procedure for volatility estimation and forecasting of daily financial return series for use in value-at-risk model frameworks.GARCH modelling is applied to account for time varying heteroskedastic conditional variances and...

The study derives a theoretically and empirically founded procedure for volatility estimation and forecasting of daily financial return series for use in value-at-risk model frameworks. GARCH modelling is applied to account for time varying heteroskedastic conditional variances and covariances....