By John B. Caouette, Visit Amazon's Edward I. Altman Page, search results, Learn about Author Central, Edward I. Altman, , Paul Narayanan, Robert Nimmo
ISBN-10: 0470118725
ISBN-13: 9780470118726
ISBN-10: 0470288337
ISBN-13: 9780470288337
Coping with credits danger, moment version opens with an in depth dialogue of today’s international credits markets—touching on every little thing from the emergence of hedge money as significant gamers to the starting to be impression of ranking enterprises. After gaining a company figuring out of those matters, you’ll be brought to a few of the best credits possibility administration instruments, innovations, and automobiles presently to be had. if you would like to maintain with the consistent adjustments on the earth of credits probability administration, this publication will express you the way.
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Additional resources for Managing Credit Risk: The Great Challenge for Global Financial Markets (Wiley Finance)
Sample text
In lending to Latin American countries in the 1970s and to commercial real estate developers in the 1980s, banks based their decisions on their traditional credit methodology: They evaluated individual risks, and they focused on lending to customers with whom they had longstanding business relationships. These techniques failed them badly. In Latin America, as in the commercial real estate market, banks got into trouble because they selected the wrong sector, not because they chose the wrong individual risks.
The current turmoil in the subprime mortgage market is an example of what happens when technology goes awry. The subprime markets exist because of the ability to model and manage credit risk using mathematical models. However, when the models do not produce the expected outcome, industry participants are left with substantial losses and some very bad publicity, which is causing many of them to pull back from this marketplace. And the technical story is a work in progress. In contrast to market risk, credit risk is, by nature, the kind of low probability/high impact risk that is challenging to hedge, or even in some cases to fully understand.
S. ” Once the overall risk philosophy is set, high level risk goals and measures need to be established by the board and management with objectives that are explicit so that progress and status can be clearly demonstrated. If there are shortfalls, then these can be corrected. Then management and the board need to articulate their risk appetite and the key constraints and boundaries they wish to set. These constraints are self imposed and are in addition to the usual regulatory requirements that must be met.
Managing Credit Risk: The Great Challenge for Global Financial Markets (Wiley Finance) by John B. Caouette, Visit Amazon's Edward I. Altman Page, search results, Learn about Author Central, Edward I. Altman, , Paul Narayanan, Robert Nimmo
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