Most of the international commercial transactions consist of merchandise and capital flows. The fluidization of these flows implies special financing techniques or the use of some payment instruments adequate to the purpose: minimum risk, time and cost. The payment sources or instruments can...

Basel II Recommendations concerning internal rating based models approach for financial institutions and the success of RiskMetrics made Value-at-Risk (VaR) is the most important risk measurement instrument at international level. The objective of this paper is to address the problem of adapting...

In this article we discuss one of the modern risk measuring techniques Value-at-Risk (VaR). Currently central banks in major money centers, under the auspices of the BIS Basle Committee, adopt the VaR system to evaluate the market risk of their supervised banks. Banks regulators ask all...