It can be argued that sovereign risk refers to ‘black swan’ events as characterised in Taleb (2008), rare and extreme events with retrospective (though not prospective) predictability. In addition since banking risk is intrinsically linked to sovereign risks, it can also be denoted as a ‘white elephant’ type of risk, i.e. a risk that although […]
Lars Jul Overby
Lars Jul Overby is Head of the Credit, Market and Operational Risk (CREMOP) Unit in the Regulation Department of the European Banking Authority (EBA). He is currently responsible for the EBA work on developing regulation in the areas of credit, market and operational risk in addition to the EBA’s work on securitisation, covered bond and market infrastructure. Prior to joining the EBA, he worked in Nykredit, Denmarks Nationalbank, ECB and Nordea. He holds a PhD from the University of Copenhagen in empirical market microstructure.