This paper introduces a formulation of the optimal network compression problem for financial systems. This general … formulation is presented for different levels of network compression or rerouting allowed from the initial inter-bank network. We … prove that this problem is, generically, NP-hard. We focus on objective functions generated by systemic risk measures under …

The mining industry can be extremely volatile during times of economic downturn. We compare extreme risk in mining … share portfolios from each of the world's seven leading mining areas using Conditional Value at Risk (CVaR) which measures … those risks beyond traditional Value at Risk (VaR) metrics. We also show how CVaR can be used to optimise portfolios and …