Value At Risk And Bank Capital Management

Value At Risk And Bank Capital Management Book PDF
✏Book Title : Value at Risk and Bank Capital Management
✏Author : Francesco Saita
✏Publisher : Elsevier
✏Release Date : 2010-07-26
✏Pages : 280
✏ISBN : 0080471064
✏Available Language : English, Spanish, And French

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✏Value at Risk and Bank Capital Management Book Summary : Value at Risk and Bank Capital Management offers a unique combination of concise, expert academic analysis of the latest technical VaR measures and their applications, and the practical realities of bank decision making about capital management and capital allocation. The book contains concise, expert analysis of the latest technical VaR measures but without the highly mathematical component of other books. It discusses practical applications of these measures in the real world of banking, focusing on effective decision making for capital management and allocation. The author, Francesco Saita, is based at Bocconi University in Milan, Italy, one of the foremost institutions for banking in Europe. He provides readers with his extensive academic and theoretical expertise combined with his practical and real-world understanding of bank structure, organizational constraints, and decision-making processes. This book is recommended for graduate students in master's or Ph.D. programs in finance/banking and bankers and risk managers involved in capital allocation and portfolio management. Contains concise, expert analysis of the latest technical VaR measures but without the highly mathematical component of other books Discusses practical applications of these measures in the real world of banking, focusing on effective decision making for capital management and allocation Author is based at Bocconi University in Milan, Italy, one of the foremost institutions for banking in Europe

Risk Management And Shareholders Value In Banking Book PDF
✏Book Title : Risk Management and Shareholders Value in Banking
✏Author : Andrea Sironi
✏Publisher : John Wiley & Sons
✏Release Date : 2007-04-30
✏Pages : 808
✏ISBN : 0470510730
✏Available Language : English, Spanish, And French

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✏Risk Management and Shareholders Value in Banking Book Summary : This book presents an integrated framework for risk measurement, capital management and value creation in banks. Moving from the measurement of the risks facing a bank, it defines criteria and rules to support a corporate policy aimed at maximizing shareholders' value. Parts I - IV discuss different risk types (including interest rate, market, credit and operational risk) and how to assess the amount of capital they absorb by means of up-to-date, robust risk-measurement models. Part V surveys regulatory capital requirements: a special emphasis is given to the Basel II accord, discussing its economic foundations and managerial implications. Part VI presents models and techniques to calibrate the amount of economic capital at risk needed by the bank, to fine-tune its composition, to allocate it to risk-taking units, to estimate the "fair" return expected by shareholders, to monitor the value creation process. Risk Management and Shareholders' Value in Banking includes: * Value at Risk, Monte Carlo models, Creditrisk+, Creditmetrics and much more * formulae for risk-adjusted loan pricing and risk-adjusted performance measurement * extensive, hands-on Excel examples are provided on the companion website * a complete, up-to-date introduction to Basel II * focus on capital allocation, Raroc, EVA, cost of capital and other value-creation metrics

📒Risk Management ✍ Michael Frenkel

Risk Management Book PDF
✏Book Title : Risk Management
✏Author : Michael Frenkel
✏Publisher : Springer Science & Business Media
✏Release Date : 2005-12-06
✏Pages : 838
✏ISBN : 9783540269939
✏Available Language : English, Spanish, And French

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✏Risk Management Book Summary : Dealing with all aspects of risk management that have undergone significant innovation in recent years, this book aims at being a reference work in its field. Different to other books on the topic, it addresses the challenges and opportunities facing the different risk management types in banks, insurance companies, and the corporate sector. Due to the rising volatility in the financial markets as well as political and operational risks affecting the business sector in general, capital adequacy rules are equally important for non-financial companies. For the banking sector, the book emphasizes the modifications implied by the Basel II proposal. The volume has been written for academics as well as practitioners, in particular finance specialists. It is unique in bringing together such a wide array of experts and correspondingly offers a complete coverage of recent developments in risk management.

Understanding Market Credit And Operational Risk Book PDF
✏Book Title : Understanding Market Credit and Operational Risk
✏Author : Linda Allen
✏Publisher : John Wiley & Sons
✏Release Date : 2009-02-04
✏Pages : 312
✏ISBN : 9781405142267
✏Available Language : English, Spanish, And French

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✏Understanding Market Credit and Operational Risk Book Summary : A step-by-step, real world guide to the use of Value at Risk (VaR) models, this text applies the VaR approach to the measurement of market risk, credit risk and operational risk. The book describes and critiques proprietary models, illustrating them with practical examples drawn from actual case studies. Explaining the logic behind the economics and statistics, this technically sophisticated yet intuitive text should be an essential resource for all readers operating in a world of risk. Applies the Value at Risk approach to market, credit, and operational risk measurement. Illustrates models with real-world case studies. Features coverage of BIS bank capital requirements.

📒Value At Risk 3rd Ed ✍ Philippe Jorion

Value At Risk 3rd Ed  Book PDF
✏Book Title : Value at Risk 3rd Ed
✏Author : Philippe Jorion
✏Publisher : McGraw Hill Professional
✏Release Date : 2006-11-09
✏Pages : 600
✏ISBN : 9780071736923
✏Available Language : English, Spanish, And French

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✏Value at Risk 3rd Ed Book Summary : Since its original publication, Value at Risk has become the industry standard in risk management. Now in its Third Edition, this international bestseller addresses the fundamental changes in the field that have occurred across the globe in recent years. Philippe Jorion provides the most current information needed to understand and implement VAR-as well as manage newer dimensions of financial risk. Featured updates include: An increased emphasis on operational risk Using VAR for integrated risk management and to measure economic capital Applications of VAR to risk budgeting in investment management Discussion of new risk-management techniques, including extreme value theory, principal components, and copulas Extensive coverage of the recently finalized Basel II capital adequacy rules for commercial banks, integrated throughout the book A major new feature of the Third Edition is the addition of short questions and exercises at the end of each chapter, making it even easier to check progress. Detailed answers are posted on the companion web site The web site contains other materials, including additional questions that course instructors can assign to their students. Jorion leaves no stone unturned, addressing the building blocks of VAR from computing and backtesting models to forecasting risk and correlations. He outlines the use of VAR to measure and control risk for trading, for investment management, and for enterprise-wide risk management. He also points out key pitfalls to watch out for in risk-management systems. The value-at-risk approach continues to improve worldwide standards for managing numerous types of risk. Now more than ever, professionals can depend on Value at Risk for comprehensive, authoritative counsel on VAR, its application, and its results-and to keep ahead of the curve.

Asset Management And International Capital Markets Book PDF
✏Book Title : Asset Management and International Capital Markets
✏Author : Wolfgang Bessler
✏Publisher : Routledge
✏Release Date : 2013-08-21
✏Pages : 228
✏ISBN : 9781317979784
✏Available Language : English, Spanish, And French

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✏Asset Management and International Capital Markets Book Summary : This innovative volume comprises a selection of original research articles offering a broad perspective on various dimensions of asset management in an international capital market environment. The topics covered include risk management and asset pricing models for portfolio management, performance evaluation and performance measurement of equity mutual funds as well as the wide range of bond portfolio management issues. Asset Management and International Capital Markets offers interesting new insights into state-of-the-art asset pricing and asset management research with a focus on international issues. Each chapter makes a valuable contribution to current research and literature, and will be of significant importance to the practice of asset management. This book is a compilation of articles originally published in The European Journal of Finance.

Concept Of Value At Risk Var  Book PDF
✏Book Title : Concept of Value at Risk VaR
✏Author : Fabian Kremer
✏Publisher : GRIN Verlag
✏Release Date : 2013-08-23
✏Pages : 13
✏ISBN : 9783656485346
✏Available Language : English, Spanish, And French

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✏Concept of Value at Risk VaR Book Summary : Seminar paper from the year 2013 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 2,0, University of Hohenheim, language: English, abstract: How is it possible to manage or measure such a hard to defining term like „risk“? To solve this problem and giving stakeholders a tool to measure their individual risk or to compare it, an empirical risk measurer called „Value at Risk“ is used in practice. The main task of this work is to introduce the concept of Value at Risk and giving an overview about the concept itself, its problems and its use in practice.

📒Value And Capital Management ✍ Thomas C. Wilson

Value And Capital Management Book PDF
✏Book Title : Value and Capital Management
✏Author : Thomas C. Wilson
✏Publisher : John Wiley & Sons
✏Release Date : 2015-08-10
✏Pages : 720
✏ISBN : 9781118774380
✏Available Language : English, Spanish, And French

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✏Value and Capital Management Book Summary : A value management framework designed specifically for bankingand insurance The Value Management Handbook is a comprehensive,practical reference written specifically for bank and insurancevaluation and value management. Spelling out how the finance andrisk functions add value in their respective spheres, this bookpresents a framework for measuring – and more importantly,influencing – the value of the firm from the position of theCFO and CRO. Case studies illustrating value-enhancing initiativesare designed to help Heads of Strategy offer CEOs concrete ideastoward creating more value, and discussion of "hard" and "soft"skills put CFOs and CROs in a position to better influence strategyand operations. The challenge of financial services valuation isaddressed in terms of the roles of risk and capital, andbusiness-specific "value trees" demonstrate the source ofsuccessful value enhancement initiatives. While most value management resources fail to adequately addressthe unique role of risk and capital in banks, insurance, and assetmanagement, this book fills the gap by providing concrete,business-specific information that connects management actions andvalue creation, helping readers to: Measure value accurately for more productive value-basedmanagement initiatives and evaluation of growth opportunities Apply a quantitative, risk-adjusted value management frameworkreconciled with the way financial services shares are valued by themarket Develop a value set specific to the industry to inspireinitiatives that increase the firm's value Study the quantitative and qualitative management frameworksthat move CFOs and CROs from measurement to management The roles of CFO and CRO in financial firms have changeddramatically over the past decade, requiring business savvy and theability to challenge the CEO. The Value Management Handbookprovides the expert guidance that leads CFOs and CROs toward betterinformation, better insight, and better decisions.

Risk Management Strategic Thinking And Leadership In The Financial Services Industry Book PDF
✏Book Title : Risk Management Strategic Thinking and Leadership in the Financial Services Industry
✏Author : Hasan Dinçer
✏Publisher : Springer
✏Release Date : 2016-12-19
✏Pages : 386
✏ISBN : 9783319471723
✏Available Language : English, Spanish, And French

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✏Risk Management Strategic Thinking and Leadership in the Financial Services Industry Book Summary : This book presents a broad overview of risk management in the banking industry, with a special focus on strategic thinking and decision-making. It reveals the broader context behind decision models and approaches to risk management in the financial industry, linking the regulatory landscape for capital management and risk to strategic thinking, together with behavioral and cultural assessments.

Measuring Market Risk With Value At Risk Book PDF
✏Book Title : Measuring Market Risk with Value at Risk
✏Author : Pietro Penza
✏Publisher : John Wiley & Sons
✏Release Date : 2001
✏Pages : 302
✏ISBN : 0471393134
✏Available Language : English, Spanish, And French

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✏Measuring Market Risk with Value at Risk Book Summary : "This book, Measuring Market Risk with Value at Risk by Vipul Bansal and Pietro Penza, has three advantages over earlier works on the subject. First, it takes a decidedly global approach-an essential ingredient for any comprehensive work on market risk. Second, it ties the scientifically grounded, yet intuitively appealing, VaR measure to earlier, more idiosyncratic measures of market risk that are used in specific market environs (e.g., duration in fixed income). Finally, it encompasses all of the accepted approaches to calculating a VaR measure and presents them in a clearly explained fashion with supporting illustrations and completely worked-out examples." -from the Foreword by John F. Marshall, PhD, Principal, Marshall, Tucker & Associates, LLC "Measuring Market Risk with Value at Risk offers a much-needed intellectual bridge, a translation from the esoteric realm of mathematical finance to the domain of financial managers who seek guidance in applying developments from this important field of research as well as that of MBA-level graduate instruction. I believe the authors have done a commendable job of providing a carefully crafted, highly readable, and most useful work, and intend to recommend it to all those involved in business risk management applications." -Anthony F. Herbst, PhD, Professor of Finance and C.R. and D.S. Carter Chair, The University of Texas, El Paso and Founding editor of The Journal of Financial Engineering (1991-1998) "Finally there's a book that strikes a balance between rigor and application in the area of risk management in the banking industry. This innovative book is a MUST for both novices and professionals alike." -Robert P. Yuyuenyongwatana, PhD, Associate Professor of Finance, Cameron University "Measuring Market Risk with Value at Risk is one of the most complete discussions of this emerging topic in finance that I have seen. The authors develop a logical and rigorous framework for using VaR models, providing both historical references and analytical applications." -Kevin Wynne, PhD, Associate Professor of Finance, Lubin School of Business, Pace University

Value Added Risk Management In Financial Institutions Book PDF
✏Book Title : Value Added Risk Management in Financial Institutions
✏Author : David P. Belmont
✏Publisher : John Wiley & Sons Incorporated
✏Release Date : 2004-03-03
✏Pages : 322
✏ISBN : IND:30000094609215
✏Available Language : English, Spanish, And French

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✏Value Added Risk Management in Financial Institutions Book Summary : The typical financial executive’s view of the value of risk management in their financial institution is based on the belief that risk management focuses on loss avoidance. This view is based on the history of risk management being control focused. However, risk management has evolved rapidly to address the more strategic issue of optimization of return on risk. This evolutions has been accompanied by statistical, mathematical and financial techniques which, when actively applied, can produce disproportionately high return on risk. Given that financial institutions will have to make significant investments in their risk management systems to comply with the regulatory capital calculation requirements of BIS II, the book shows how to leverage this investment to extract shareholder value. Key concepts illustrated and explained in detail include: Opportunity costs of capital Economic profit Risk adjusted returns on capital Economic capital measurement and their relationship to economic capital allocation Capital structuring Capital budgeting The use of risk adjusted performance information in the formulation of management strategies that seek to optimize return to shareholders are discussed in depth and illustrated by practical case studies of several leading financial institutions. Finally, practical incentive and technology challenges are addressed and pragmatic recommendations for overcoming these challenges are given. The book aims to describe these techniques, illustrate their application, and discuss their strategic value in the management of financial institutions.

Implementing Value At Risk Book PDF
✏Book Title : Implementing Value at Risk
✏Author : Philip Best
✏Publisher : John Wiley & Sons
✏Release Date : 2000-11-21
✏Pages : 222
✏ISBN : 9780470865965
✏Available Language : English, Spanish, And French

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✏Implementing Value at Risk Book Summary : Implementing Value at Risk Philip Best Value at Risk (VAR) is an estimate of the potential loss on a trading or investment portfolio. Its use has swept the banking world and is now accepted as an essential tool in any risk manager's briefcase. Perhaps the greatest strength of VAR is that it can cope with virtually all financial products, from simple securities through to complex exotic derivatives. This allows the risk taken, across diverse trading activities, to be compared. This said, VAR is no panacea. It is as critical to understand when the use of VAR is inappropriate as it is to understand the value VAR can add to a bank's understanding and control of its risks. This book aims to explain how VAR can be used as an integral part of a risk and business management framework, rather than as a stand-alone tool. The objectives of this book are to explain: What VAR is - and isn't! How to calculate VAR - the three main methods Why stress testing is needed to complement VAR How to make stress testing effective How to use VAR and stress testing to manage risk How to use VAR to improve a bank's performance VAR as a regulatory measure of risk and capital Risk management practitioners, general bank managers, consultants and students of finance and risk management will find this book, and the software package included, an invaluable addition to their library. Finance/Investment

Bank And Insurance Capital Management Book PDF
✏Book Title : Bank and Insurance Capital Management
✏Author : Frans de Weert
✏Publisher : John Wiley & Sons
✏Release Date : 2011-10-14
✏Pages : 352
✏ISBN : 9780470971642
✏Available Language : English, Spanish, And French

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✏Bank and Insurance Capital Management Book Summary : In the aftermath of the financial crisis, capital management has become a critical factor in value creation for banks and other financial institutions. Although complex and subject to regulatory change, the strategic importance of capital management became apparent during the crisis and has moved the subject to the top of corporate agendas. Bank and Insurance Capital Management is an essential guide to help banks and insurance companies understand and manage their capital position. Bridging the gap between theory and practice, it provides proven techniques for managing bank capital, as well as explaining key capital management perspectives, including accounting, regulatory, risk and capital management and corporate finance. It also shows how to analyze a firm's stakeholders such as depositors, policy holders, debt holders and shareholders, and manage their expectations, and how to align risk and capital management so as to best optimize the return on capital and preserve capital in periods of stress. Economic capital is also discussed in depth, as are the practicalities of bank and insurance M&A, and the book also shows how financial innovations can be used to optimise the capital position and how diversification effects are reflected in the capital position. This book will arm readers with the knowledge and skills needed to understand how capital management can improve capital structure and performance, achieving an optimal cost of, and return on capital, creating value as a result.

Bank Valuation And Value Based Management Deposit And Loan Pricing Performance Evaluation And Risk Management Book PDF
✏Book Title : Bank Valuation and Value Based Management Deposit and Loan Pricing Performance Evaluation and Risk Management
✏Author : Jean Dermine
✏Publisher : McGraw Hill Professional
✏Release Date : 2009-09
✏Pages : 442
✏ISBN : 9780071624992
✏Available Language : English, Spanish, And French

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✏Bank Valuation and Value Based Management Deposit and Loan Pricing Performance Evaluation and Risk Management Book Summary : Bank Valuation & Value-Based Management provides bankers, bank regulators, auditors, and risk managers with foundational concepts and practical tools for effectively managing a bank. An expert in asset and liability management, European financial markets, and banking theory, Jean Dermine provides rigorous foundations to discuss asset and liability management at a global level, with an integrated focus on an institution’s banking book. He covers bank valuation, fund transfer pricing, deposit and loan pricing, risk management, and performance measurement, and addresses two high-profile issues for banks worldwide: portfolio credit risk and liquidity risk. This thorough and innovative guide presents insightful coverage on the hazards of measuring portfolio credit risk, the impact of liquidity risk on fund transfer pricing, and the practice of performance measurement in the banking industry. Numerous real-world examples from the U.S. subprime crisis help illustrate the nature and dynamics of these issues. Inside, you will find a framework for discussing such managerial issues as: Bank valuation Fund transfer pricing Deposit pricing Capital management Loan pricing and provisioning Securitization Measurement of interest rate risk Performance measurement At the same time that it helps readers develop an intuitive sense for asset-liability management, this practical book follows through with rigorous mathematical formulas and examples from the international banking community. In addition,exercises are incorporated throughout the text to facilitate discussions of how theoretical concepts can be applied to real-world problems. This authoritative guide to bank management also features an exclusive companion Web site,, which includes additional chapters and exercise solutions that serve as key supplements to the core text. Creating value in banking depends on a rocksolid understanding of what drives value and the right valuation model to help make the tough decisions that will enhance shareholder value. Bank Valuation & Value-Based Management is your one-stop reference for each of these critical issues.

Market Risk Analysis Value At Risk Models Book PDF
✏Book Title : Market Risk Analysis Value at Risk Models
✏Author : Carol Alexander
✏Publisher : John Wiley & Sons
✏Release Date : 2009-01-15
✏Pages : 492
✏ISBN : 9780470745076
✏Available Language : English, Spanish, And French

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✏Market Risk Analysis Value at Risk Models Book Summary : Written by leading market risk academic, Professor Carol Alexander, Value-at-Risk Models forms part four of the Market Risk Analysis four volume set. Building on the three previous volumes this book provides by far the most comprehensive, rigorous and detailed treatment of market VaR models. It rests on the basic knowledge of financial mathematics and statistics gained from Volume I, of factor models, principal component analysis, statistical models of volatility and correlation and copulas from Volume II and, from Volume III, knowledge of pricing and hedging financial instruments and of mapping portfolios of similar instruments to risk factors. A unifying characteristic of the series is the pedagogical approach to practical examples that are relevant to market risk analysis in practice. All together, the Market Risk Analysis four volume set illustrates virtually every concept or formula with a practical, numerical example or a longer, empirical case study. Across all four volumes there are approximately 300 numerical and empirical examples, 400 graphs and figures and 30 case studies many of which are contained in interactive Excel spreadsheets available from the the accompanying CD-ROM . Empirical examples and case studies specific to this volume include: Parametric linear value at risk (VaR)models: normal, Student t and normal mixture and their expected tail loss (ETL); New formulae for VaR based on autocorrelated returns; Historical simulation VaR models: how to scale historical VaR and volatility adjusted historical VaR; Monte Carlo simulation VaR models based on multivariate normal and Student t distributions, and based on copulas; Examples and case studies of numerous applications to interest rate sensitive, equity, commodity and international portfolios; Decomposition of systematic VaR of large portfolios into standard alone and marginal VaR components; Backtesting and the assessment of risk model risk; Hypothetical factor push and historical stress tests, and stress testing based on VaR and ETL.

Risk Management And Value Creation In Financial Institutions Book PDF
✏Book Title : Risk Management and Value Creation in Financial Institutions
✏Author : Gerhard Schroeck
✏Publisher : John Wiley & Sons
✏Release Date : 2002-10-01
✏Pages : 332
✏ISBN : 9780471429746
✏Available Language : English, Spanish, And French

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✏Risk Management and Value Creation in Financial Institutions Book Summary : An analysis of the links between risk management and value creation Risk Management and Value Creation in Financial Institutions explores a variety of methods that can be utilized to create economic value at financial institutions. This invaluable resource shows how banks can use risk management to create value for shareholders, addresses the advantages of risk-adjusted return on capital (RAROC) measures, and develops the foundations for a model to identify comparative advantages that emerge as a result of risk-management decisions. It is the only book needed for banking executives interested in the relationship between risk management and value creation.

Bank Asset And Liability Management Book PDF
✏Book Title : Bank Asset and Liability Management
✏Author : Moorad Choudhry
✏Publisher : John Wiley & Sons
✏Release Date : 2011-12-27
✏Pages : 256
✏ISBN : 9781118177211
✏Available Language : English, Spanish, And French

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✏Bank Asset and Liability Management Book Summary : Banks are a vital part of the global economy, and the essence of banking is asset-liability management (ALM). This book is a comprehensive treatment of an important financial market discipline. A reference text for all those involved in banking and the debt capital markets, it describes the techniques, products and art of ALM. Subjects covered include bank capital, money market trading, risk management, regulatory capital and yield curve analysis. Highlights of the book include detailed coverage of: Liquidity, gap and funding risk management Hedging using interest-rate derivatives and credit derivatives Impact of Basel II Securitisation and balance sheet management Structured finance products including asset-backed commercial paper, mortgage-backed securities, collateralised debt obligations and structured investment vehicles, and their role in ALM Treasury operations and group transfer pricing. Concepts and techniques are illustrated with case studies and worked examples. Written in accessible style, this book is essential reading for market practitioners, bank regulators, and graduate students in banking and finance. Companion website features online access to software on applications described in the book, including a yield curve model, cubic spline spreadsheet calculator and CDO waterfall model.

📒Bubble Value At Risk ✍ Max C. Y. Wong

Bubble Value At Risk Book PDF
✏Book Title : Bubble Value at Risk
✏Author : Max C. Y. Wong
✏Publisher : John Wiley & Sons
✏Release Date : 2013-01-30
✏Pages : 400
✏ISBN : 9781118550373
✏Available Language : English, Spanish, And French

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✏Bubble Value at Risk Book Summary : Introduces a powerful new approach to financial risk modelingwith proven strategies for its real-world applications The 2008 credit crisis did much to debunk the much touted powersof Value at Risk (VaR) as a risk metric. Unlike most authors on VaRwho focus on what it can do, in this book the author looks at whatit cannot. In clear, accessible prose, finance practitioners, MaxWong, describes the VaR measure and what it was meant to do, thenexplores its various failures in the real world of crisis riskmanagement. More importantly, he lays out a revolutionary newmethod of measuring risks, Bubble Value at Risk, that iscountercyclical and offers a well-tested buffer against marketcrashes. Describes Bubble VaR, a more macro-prudential risk measureproven to avoid the limitations of VaR and by providing a moreaccurate risk exposure estimation over market cycles Makes a strong case that analysts and risk managers need tounlearn our existing "science" of risk measurement and discovermore robust approaches to calculating risk capital Illustrates every key concept or formula with an abundance ofpractical, numerical examples, most of them provided in interactiveExcel spreadsheets Features numerous real-world applications, throughout, based onthe author’s firsthand experience as a veteran financial riskanalyst

📒Stewardship ✍ John G. Taft

Stewardship Book PDF
✏Book Title : Stewardship
✏Author : John G. Taft
✏Publisher : John Wiley & Sons
✏Release Date : 2012-02-07
✏Pages : 240
✏ISBN : 9781118237267
✏Available Language : English, Spanish, And French

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✏Stewardship Book Summary : A compelling argument for why stewardship of wealth and service to others should be our highest financial priority Stewardship is the journey of financial insider John Taft towards understanding and affirming the importance of stewardship—which he has come to define as "serving others"—as a core principle for the financial services industry, the global financial system, and society at large. By defining the attributes of authentic stewardship, this book presents a path forward by analyzing the success of Canadian banks in weathering the financial crisis; evaluates the effectiveness of global financial reform efforts in making the financial system safer, sounder, and more secure; offers wealth management prescriptions for individual investors; evaluates the potential of ESG (environmental, social, and governance) investment processes as a way to instill stewardship behaviors among corporate CEOs (particularly at financial services firms); and, ultimately, calls for a return to stewardship's core principles as the key to not only minimizing the scope and consequences of future failures, but also to addressing other societal challenges. Argues for a return towards stewardship, with financial services companies doing right by their customers Analyzes the response of Canadian banks to the financial crisis to provide meaningful advice for investors and businesses alike Inspired by Taft's experience running one of the largest wealth management firms in the country during the financial crisis and his direct participation in subsequent legislative and regulatory efforts to rewrite the rules under which the U.S. securities industry operates From the man who made the decision to reimburse clients affected by the collapse of a money market mutual fund comes a compelling look at why financial service companies should start doing what's right for their customers.

The Risks Of Financial Institutions Book PDF
✏Book Title : The Risks of Financial Institutions
✏Author : Mark Carey
✏Publisher : University of Chicago Press
✏Release Date : 2007-11-01
✏Pages : 520
✏ISBN : 9780226092980
✏Available Language : English, Spanish, And French

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✏The Risks of Financial Institutions Book Summary : Until about twenty years ago, the consensus view on the cause of financial-system distress was fairly simple: a run on one bank could easily turn to a panic involving runs on all banks, destroying some and disrupting the financial system. Since then, however, a series of events—such as emerging-market debt crises, bond-market meltdowns, and the Long-Term Capital Management episode—has forced a rethinking of the risks facing financial institutions and the tools available to measure and manage these risks. The Risks of Financial Institutions examines the various risks affecting financial institutions and explores a variety of methods to help institutions and regulators more accurately measure and forecast risk. The contributors--from academic institutions, regulatory organizations, and banking--bring a wide range of perspectives and experience to the issue. The result is a volume that points a way forward to greater financial stability and better risk management of financial institutions.

Dealing With The Challenges Of Macro Financial Linkages In Emerging Markets Book PDF
✏Book Title : Dealing with the Challenges of Macro Financial Linkages in Emerging Markets
✏Author : Otaviano Canuto
✏Publisher : World Bank Publications
✏Release Date : 2013-10-29
✏Pages : 304
✏ISBN : 9781464800030
✏Available Language : English, Spanish, And French

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✏Dealing with the Challenges of Macro Financial Linkages in Emerging Markets Book Summary : This book deals with the challenges of macro financial linkages in the emerging markets.

The Oxford Guide To Financial Modeling Book PDF
✏Book Title : The Oxford Guide to Financial Modeling
✏Author : Thomas S. Y. Ho
✏Publisher : Oxford University Press
✏Release Date : 2004-01-15
✏Pages : 768
✏ISBN : 0199727708
✏Available Language : English, Spanish, And French

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✏The Oxford Guide to Financial Modeling Book Summary : The essential premise of this book is that theory and practice are equally important in describing financial modeling. In it the authors try to strike a balance in their discussions between theories that provide foundations for financial models and the institutional details that provide the context for applications of the models. The book presents the financial models of stock and bond options, exotic options, investment grade and high-yield bonds, convertible bonds, mortgage-backed securities, liabilities of financial institutions--the business model and the corporate model. It also describes the applications of the models to corporate finance. Furthermore, it relates the models to financial statements, risk management for an enterprise, and asset/liability management with illiquid instruments. The financial models are progressively presented from option pricing in the securities markets to firm valuation in corporate finance, following a format to emphasize the three aspects of a model: the set of assumptions, the model specification, and the model applications. Generally, financial modeling books segment the world of finance as "investments," "financial institutions," "corporate finance," and "securities analysis," and in so doing they rarely emphasize the relationships between the subjects. This unique book successfully ties the thought processes and applications of the financial models together and describes them as one process that provides business solutions. Created as a companion website to the book readers can visit to gain deeper understanding of the book's financial models. Interested readers can build and test the models described in the book using Excel, and they can submit their models to the site. Readers can also use the site's forum to discuss the models and can browse server based models to gain insights into the applications of the models. For those using the book in meetings or class settings the site provides Power Point descriptions of the chapters. Students can use available question banks on the chapters for studying.

📒Bond And Money Markets ✍ Moorad Choudhry

Bond And Money Markets Book PDF
✏Book Title : Bond and Money Markets
✏Author : Moorad Choudhry
✏Publisher : Butterworth-Heinemann
✏Release Date : 2003-07-04
✏Pages : 1152
✏ISBN : 9780080574936
✏Available Language : English, Spanish, And French

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✏Bond and Money Markets Book Summary : The Bond and Money Markets is an invaluable reference to all aspects of fixed income markets and instruments. It is highly regarded as an introduction and an advanced text for professionals and graduate students. Features comprehensive coverage of: * Government and Corporate bonds, Eurobonds, callable bonds, convertibles * Asset-backed bonds including mortgages and CDOs * Derivative instruments including futures, swaps, options, structured products * Interest-rate risk, duration analysis, convexity, and the convexity bias * The money markets, repo markets, basis trading, and asset/liability management * Term structure models, estimating and interpreting the yield curve * Portfolio management and strategies,total return framework, constructing bond indices * A stand alone reference book on interest rate swaps, the money markets, financial market mathematics, interest-rate futures and technical analysis * Includes introductory coverage of very specialised topics (for which one previously required several texts) such as VaR, Asset & liability management and credit derivatives * Combines accessible style with advanced level topics

📒The Var Implementation Handbook ✍ Greg N. Gregoriou

The Var Implementation Handbook Book PDF
✏Book Title : The VAR Implementation Handbook
✏Author : Greg N. Gregoriou
✏Publisher : McGraw Hill Professional
✏Release Date : 2009-03-15
✏Pages : 624
✏ISBN : 9780071615143
✏Available Language : English, Spanish, And French

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✏The VAR Implementation Handbook Book Summary : [flap] For investors, risk is about the odds of losing money, and Value at Risk (VaR) is grounded in that common-sense fact. VAR modeling answers, “What is my worst-case scenario?” and “How much could I lose in a really bad month?” However, there has not been an effective guidebook available to help investors and financial managers make their own VaR calculations--until now. The VaR Implementation Handbook is a hands-on road map for professionals who have a solid background in VaR but need the critical strategies, models, and insights to apply their knowledge in the real world. Heralded as “the new science of risk management,” VaR has emerged as the dominant methodology used by financial institutions and corporate treasuries worldwide for estimating precisely how much money is at risk each day in the financial markets. The VaR Implementation Handbook picks up where other books on the subject leave off and demonstrates how, with proper implementation, VaR can be a valuable tool for assessing risk in a variety of areas-from equity to structured and operational products. This complete guide thoroughly covers the three major areas of VaR implementation--measuring, modeling risk, and managing--in three convenient sections. Savvy professionals will keep this handbook at their fingertips for its: Reliable advice from 40 recognized experts working in universities and financial institutions around the world Effective methods and measures to ensure that implemented VaR models maintain optimal performance Up-to-date coverage on newly exposed areas of volatility, including derivatives Real-world prosperity requires making informed financial decisions. The VaR Implementation Handbook is a step-by-step playbook to getting the most out of VaR modeling so you can successfully manage financial risk.

Risk Management And Shareholders Value In Banking Book PDF
✏Book Title : Risk Management and Shareholders Value in Banking
✏Author : Andrea Sironi
✏Publisher : Wiley
✏Release Date : 2014-04-21
✏Pages : 160
✏ISBN : 1119942144
✏Available Language : English, Spanish, And French

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✏Risk Management and Shareholders Value in Banking Book Summary : Risk Management and Shareholders' Value in Banking provides an integrated framework for risk measurement, capital management and value creation in banks covering interest rate risk; market risk; credit risk; operational risk; capital regulation; capital management; and value creation. Updated to include coverage of the most recent developments in banking regulation, including comprehensive coverage of the new Basel III regulatory framework the book is structured in six parts. Part I covers the measurement and management of the interest rate risk and liquidity risk on all assets and liabilities of a banking institution. This includes a discussion of gapping models, presented critically through numerical examples and solutions, internal transfer rates, gapping techniques, liquidity risk management. Part II presents portfolio models for market risks, including the “variance/covariance” approach, Monte Carlo / historical simulations, backtesting, alternative risk measures (e.g. expected shortfall) and volatility estimation techniques. Part III addresses credit risk measurement, first on a stand-alone basis, then at a portfolio level; it also includes chapters on scoring models, rating systems, recovery risk, counterparty risk for OTC derivatives, and practical applications of credit risk models. Part IV deals with operational risk before part V goes on to illustrate the main pieces of regulation on bank capital issued by the Basel Committee, the main focus being on Basel 2 (insofar it has not been changed by the latest regulatory wave) and Basel 3. Part VI presents the link between risk and capital in all its implications, and provides the reader with the technical models needed to allocate capital to risk-taking units, set risk-adjusted profitability targets, and optimize the amount and composition of bank capital. By bringing together the core aspects of risk management in banking - models and algorithms, regulation, process engineering and management, and strategic planning – the book provides a unique and consistent framework showing how financial risks can be understood, measured, managed and covered with capital. The book is accompanied by a website which includes a series of excel files with detailed explanations of all the numerical examples shown in the book, as well as solutions to the end of chapter exercises.

📒Credit Risk Analysis ✍ Ciby Joseph

Credit Risk Analysis Book PDF
✏Book Title : Credit Risk Analysis
✏Author : Ciby Joseph
✏Publisher : Tata McGraw-Hill Education
✏Release Date : 2006
✏Pages : 339
✏ISBN : 0070581363
✏Available Language : English, Spanish, And French

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✏Credit Risk Analysis Book Summary : This book is for anyone who would like to understand the complicated world of credit, increase profits and eliminate losses and bad debts. Written by a professional who has tremendous insights on the subject, the book explains proven techniques on:*How to study borrower/ debtor/client risks and arrive at creditworthiness. *How to analyze financial statements and determine financial risks. *How to unearth operating/business risks of the borrowers/debtors/clients. *How to identify credit risk mitigants.

📒Credit Risk Measurement ✍ Anthony Saunders

Credit Risk Measurement Book PDF
✏Book Title : Credit Risk Measurement
✏Author : Anthony Saunders
✏Publisher : John Wiley & Sons
✏Release Date : 2002-10-06
✏Pages : 336
✏ISBN : 9780471274766
✏Available Language : English, Spanish, And French

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✏Credit Risk Measurement Book Summary : The most cutting-edge read on the pricing, modeling, and management of credit risk available The rise of credit risk measurement and the credit derivatives market started in the early 1990s and has grown ever since. For many professionals, understanding credit risk measurement as a discipline is now more important than ever. Credit Risk Measurement, Second Edition has been fully revised to reflect the latest thinking on credit risk measurement and to provide credit risk professionals with a solid understanding of the alternative approaches to credit risk measurement. This readable guide discusses the latest pricing, modeling, and management techniques available for dealing with credit risk. New chapters highlight the latest generation of credit risk measurement models, including a popular class known as intensity-based models. Credit Risk Measurement, Second Edition also analyzes significant changes in banking regulations that are impacting credit risk measurement at financial institutions. With fresh insights and updated information on the world of credit risk measurement, this book is a must-read reference for all credit risk professionals. Anthony Saunders (New York, NY) is the John M. Schiff Professor of Finance and Chair of the Department of Finance at the Stern School of Business at New York University. He holds positions on the Board of Academic Consultants of the Federal Reserve Board of Governors as well as the Council of Research Advisors for the Federal National Mortgage Association. He is the editor of the Journal of Banking and Finance and the Journal of Financial Markets, Instruments and Institutions. Linda Allen (New York, NY) is Professor of Finance at Baruch College and Adjunct Professor of Finance at the Stern School of Business at New York University. She also is author of Capital Markets and Institutions: A Global View (Wiley: 0471130494). Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management, asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.

📒Active Bank Risk Management ✍ Globecon Group

Active Bank Risk Management Book PDF
✏Book Title : Active Bank Risk Management
✏Author : Globecon Group
✏Publisher : Irwin Professional Publishing
✏Release Date : 1995
✏Pages : 255
✏ISBN : PSU:000024282727
✏Available Language : English, Spanish, And French

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✏Active Bank Risk Management Book Summary : This thorough review tackles the types of risk most likely to impact institutions with significant interests in trading, investing, corporate lending and generating shareholder value, including credit and interest rate risk; portfolio management; capital standards; risk management policies and procedures; and risk-based pricing for financial institutions.

📒Corporate Risk Management ✍ Donald H. Chew

Corporate Risk Management Book PDF
✏Book Title : Corporate Risk Management
✏Author : Donald H. Chew
✏Publisher : Columbia University Press
✏Release Date : 2008-01-08
✏Pages : 480
✏ISBN : 9780231513005
✏Available Language : English, Spanish, And French

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✏Corporate Risk Management Book Summary : More than thirty leading scholars and finance practitioners discuss the theory and practice of using enterprise-risk management (ERM) to increase corporate values. ERM is the corporate-wide effort to manage the right-hand side of the balance sheet a firm's total liability structure-in ways that enable management to make the most of the firm's assets. While typically working to stabilize cash flows, the primary aim of a well-designed risk management program is not to smooth corporate earnings, but to limit the possibility that surprise outcomes can threaten a company's ability to fund its major investments and carry out its strategic plan. Contributors summarize the development and use of risk management products and their practical applications. Case studies involve Merck, British Petroleum, the American airline industry, and United Grain Growers, and the conclusion addresses a variety of topics that include the pricing and use of certain derivative securities, hybrid debt, and catastrophe bonds. Contributors: Tom Aabo (Aarhus School of Business); Albéric Braas and Charles N. Bralver (Oliver, Wyman & Company); Keith C. Brown (University of Texas at Austin); David A. Carter (Oklahoma State University); Christopher L. Culp (University of Chicago); Neil A. Doherty (University of Pennsylvania); John R. S. Fraser (Hyrdo One, Inc.); Kenneth R. French (University of Chicago); Gerald D. Gay (Georgia State University); Jeremy Gold (Jeremy Gold Pensions); Scott E. Harrington (University of South Carolina); J. B. Heaton (Bartlit Beck Herman Palenchar & Scott LLP); Joel Houston (University of Florida); Nick Hudson (Stern Stewart & Co.); Christopher James (University of Florida); A. John Kearney and Judy C. Lewent (Merck & Co., Inc.); Robert C. Merton and Lisa K. Meulbroek (Harvard Business School); Merton H. Miller (University of Chicago); Jouahn Nam (Pace University); Andrea M. P. Neves (CP Risk Management LLC); Brian W. Nocco (Nationwide Insurance); André F. Perold (Harvard Business School); S. Waite Rawls III (Continental Bank); Kenneth J. Risko (Willis Risk Solutions); Angelika Schöchlin (University of St. Gallen); Betty J. Simkins (Oklahoma State University); Donald J. Smith (Boston University); Clifford W. Smith Jr. (University of Rochester); Charles W. Smithson (Continental Bank); René M. Stulz (Ohio State University); D. S All the articles that comprise this book were first published in the Journal of Applied Corporate Finance. Morgan Stanley's ownership of the journal is a reflection of its commitment to identifying outstanding academic research and promoting its application in the practicing corporate and investment communities.

Public Debt Sustainability In Developing Asia Book PDF
✏Book Title : Public Debt Sustainability in Developing Asia
✏Author : Benno Ferrarini
✏Publisher : Routledge
✏Release Date : 2012
✏Pages : 211
✏ISBN : 9780415522212
✏Available Language : English, Spanish, And French

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✏Public Debt Sustainability in Developing Asia Book Summary : Addressing the global financial crisis has required fiscal intervention on a substantial scale by governments around the world. The consequent buildup of public debt, in particular its sustainability, has moved to center stage in the policy debate. If the Asia and Pacific region is to continue to serve as an engine for global growth, its public debt must be sustainable. Public Debt Sustainability in Developing Asia addresses this issue for Asia and the Pacific as a whole as well as for three of the most dynamic economies in the region: the People’s Republic of China, India, and Viet Nam. The book begins with a discussion of the reasons for increased attention to debt-related issues. It also introduces fiscal indicators for the Asian Development. Bank’s developing member countries and economies. The sustainability of their debt is assessed through extant approaches and with the most up-to-date data sources. The book also surveys the existing literature on debt sustainability, outlining the main issues related to it, and discusses the key implications for the application of debt sustainability analysis in developing Asia. Also highlighted is the importance of conducting individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g., federal), and the like, as well as the impact of debt on interest rates. The book further provides in-depth debt sustainability analyses for the People’s Republic of China, India, and Viet Nam. Public Debt Sustainability in Developing Asia offers a comprehensive analytical and empirical update on the sustainability of public debt in the region. It breaks new ground in examining characteristics that are crucial to understanding sustainability and offers richer policy analysis that should prove useful for policymakers, researchers, and graduate students.