Collateral Management

Author : Michael Simmons
Publisher : John Wiley & Sons
Page : 877 pages
File Size : 52,6 Mb
Release : 2019-02-18
Category : Business & Economics
ISBN : 9781119377122

Get Book

Collateral Management by Michael Simmons Pdf

Insight into collateral management and its increasing relevance in modern banking In the wake of recent financial crises, firms of all sizes have adjusted their policies to incorporate more frequent instances of collateral management. Collateral Management: A Guide to Mitigating Counterparty Risk explains the connection between the need for collateral management in order to alleviate counterparty risk and the actions that firms must take to achieve it. Targeted at middle and back office managers seeking a hands-on explanation of the specifics of collateral management, this book offers a thorough treatment of the subject and attends to details such as internal record management, daily procedures used in making and receiving collateral calls, and settlement-related issues that affect the movements of cash and securities collateral. An expert in financial topics ranging from trade lifecycle to operational risk, author Michael Simmons offers readers insight into a field that, so far, is struggling to produce enough expertise to meet its high demand. Presents hands-on advice and examples from a bestselling, internationally renowned author who introduces his third book on operations and operations-related activities Explains the relationship between collateral management and preventing institutional defaults, such as the recent Lehman Brothers downfall Since 2008, firms have recognized and embraced the importance of collateral management, but this book will provide practitioners with a deeper understanding and appreciation of its relevance.

Author : Michael Simmons
Publisher : John Wiley & Sons
Page : 757 pages
File Size : 42,9 Mb
Release : 2019-04-29
Category : Business & Economics
ISBN : 9780470973509

Get Book

Collateral Management by Michael Simmons Pdf

Insight into collateral management and its increasing relevance in modern banking In the wake of recent financial crises, firms of all sizes have adjusted their policies to incorporate more frequent instances of collateral management. Collateral Management: A Guide to Mitigating Counterparty Risk explains the connection between the need for collateral management in order to alleviate counterparty risk and the actions that firms must take to achieve it. Targeted at middle and back office managers seeking a hands-on explanation of the specifics of collateral management, this book offers a thorough treatment of the subject and attends to details such as internal record management, daily procedures used in making and receiving collateral calls, and settlement-related issues that affect the movements of cash and securities collateral. An expert in financial topics ranging from trade lifecycle to operational risk, author Michael Simmons offers readers insight into a field that, so far, is struggling to produce enough expertise to meet its high demand. Presents hands-on advice and examples from a bestselling, internationally renowned author who introduces his third book on operations and operations-related activities Explains the relationship between collateral management and preventing institutional defaults, such as the recent Lehman Brothers downfall Since 2008, firms have recognized and embraced the importance of collateral management, but this book will provide practitioners with a deeper understanding and appreciation of its relevance.

Author : Paul C. Harding,Christian A. Johnson
Publisher : Pearson Education
Page : 616 pages
File Size : 43,8 Mb
Release : 2002
Category : Business & Economics
ISBN : 0273659243

Get Book

Mastering Collateral Management and Documentation by Paul C. Harding,Christian A. Johnson Pdf

A "one stop shop" for a detailed introduction to collateral management and documentation, giving the reader a thorough grounding in the subject.

Author : Penny Davenport
Publisher : Palgrave Macmillan
Page : 304 pages
File Size : 41,5 Mb
Release : 2003-09-17
Category : Business & Economics
ISBN : 1403912033

Get Book

A Practical Guide to Collateral Management in the OTC Derivatives Market by Penny Davenport Pdf

This is the first book of its kind on the market and is aimed at collateral management professionals in the OTC derivatives markets. It is a guide to the key topics involved in establishing and running a collateral management function and is clear, comprehensive and practical. A Practical Guide to Collateral Management will also be of value to those professionals working in product areas applying collateral management techniques including repo, securities lending and exchange traded products.

Author : Gerardus Blokdyk
Publisher : Createspace Independent Publishing Platform
Page : 134 pages
File Size : 53,7 Mb
Release : 2018-04-03
Category : Electronic
ISBN : 1987496264

Get Book

Collateral Management by Gerardus Blokdyk Pdf

Who sets the Collateral management standards? Is the Collateral management organization completing tasks effectively and efficiently? Has the direction changed at all during the course of Collateral management? If so, when did it change and why? What role does communication play in the success or failure of a Collateral management project? How much are sponsors, customers, partners, stakeholders involved in Collateral management? In other words, what are the risks, if Collateral management does not deliver successfully? Defining, designing, creating, and implementing a process to solve a challenge or meet an objective is the most valuable role... In EVERY group, company, organization and department. Unless you are talking a one-time, single-use project, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?' This Self-Assessment empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Collateral management investments work better. This Collateral management All-Inclusive Self-Assessment enables You to be that person. All the tools you need to an in-depth Collateral management Self-Assessment. Featuring 711 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Collateral management improvements can be made. In using the questions you will be better able to: - diagnose Collateral management projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices - implement evidence-based best practice strategies aligned with overall goals - integrate recent advances in Collateral management and process design strategies into practice according to best practice guidelines Using a Self-Assessment tool known as the Collateral management Scorecard, you will develop a clear picture of which Collateral management areas need attention. Your purchase includes access details to the Collateral management self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next. Your exclusive instant access details can be found in your book.

Author : Anonim
Publisher : Lulu.com
Page : 294 pages
File Size : 50,6 Mb
Release : 2004
Category : Bank capital
ISBN : 9789291316694

Get Book

International Convergence of Capital Measurement and Capital Standards by Anonim Pdf

Author : Anonim
Publisher : Unknown
Page : 76 pages
File Size : 46,9 Mb
Release : 2007
Category : Derivative securities
ISBN : IND:30000116377924

Get Book

New Developments in Clearing and Settlement Arrangements for OTC Derivatives by Anonim Pdf

Author : Jon Gregory
Publisher : John Wiley & Sons
Page : 449 pages
File Size : 41,5 Mb
Release : 2011-09-07
Category : Business & Economics
ISBN : 9780470689998

Get Book

Counterparty Credit Risk by Jon Gregory Pdf

The first decade of the 21st Century has been disastrous for financial institutions, derivatives and risk management. Counterparty credit risk has become the key element of financial risk management, highlighted by the bankruptcy of the investment bank Lehman Brothers and failure of other high profile institutions such as Bear Sterns, AIG, Fannie Mae and Freddie Mac. The sudden realisation of extensive counterparty risks has severely compromised the health of global financial markets. Counterparty risk is now a key problem for all financial institutions. This book explains the emergence of counterparty risk during the recent credit crisis. The quantification of firm-wide credit exposure for trading desks and businesses is discussed alongside risk mitigation methods such as netting and collateral management (margining). Banks and other financial institutions have been recently developing their capabilities for pricing counterparty risk and these elements are considered in detail via a characterisation of credit value adjustment (CVA). The implications of an institution valuing their own default via debt value adjustment (DVA) are also considered at length. Hedging aspects, together with the associated instruments such as credit defaults swaps (CDSs) and contingent CDS (CCDS) are described in full. A key feature of the credit crisis has been the realisation of wrong-way risks illustrated by the failure of monoline insurance companies. Wrong-way counterparty risks are addressed in detail in relation to interest rate, foreign exchange, commodity and, in particular, credit derivative products. Portfolio counterparty risk is covered, together with the regulatory aspects as defined by the Basel II capital requirements. The management of counterparty risk within an institution is also discussed in detail. Finally, the design and benefits of central clearing, a recent development to attempt to control the rapid growth of counterparty risk, is considered. This book is unique in being practically focused but also covering the more technical aspects. It is an invaluable complete reference guide for any market practitioner with any responsibility or interest within the area of counterparty credit risk.

Author : Bruce Tuckman,Angel Serrat
Publisher : John Wiley & Sons
Page : 640 pages
File Size : 54,9 Mb
Release : 2011-10-13
Category : Business & Economics
ISBN : 9781118133965

Get Book

Fixed Income Securities by Bruce Tuckman,Angel Serrat Pdf

Fixed income practitioners need to understand the conceptual frameworks of their field; to master its quantitative tool-kit; and to be well-versed in its cash-flow and pricing conventions. Fixed Income Securities, Third Edition by Bruce Tuckman and Angel Serrat is designed to balance these three objectives. The book presents theory without unnecessary abstraction; quantitative techniques with a minimum of mathematics; and conventions at a useful level of detail. The book begins with an overview of global fixed income markets and continues with the fundamentals, namely, arbitrage pricing, interest rates, risk metrics, and term structure models to price contingent claims. Subsequent chapters cover individual markets and securities: repo, rate and bond forwards and futures, interest rate and basis swaps, credit markets, fixed income options, and mortgage-backed-securities. Fixed Income Securities, Third Edition is full of examples, applications, and case studies. Practically every quantitative concept is illustrated through real market data. This practice-oriented approach makes the book particularly useful for the working professional. This third edition is a considerable revision and expansion of the second. Most examples have been updated. The chapters on fixed income options and mortgage-backed securities have been considerably expanded to include a broader range of securities and valuation methodologies. Also, three new chapters have been added: the global overview of fixed income markets; a chapter on corporate bonds and credit default swaps; and a chapter on discounting with bases, which is the foundation for the relatively recent practice of discounting swap cash flows with curves based on money market rates.

Author : Manmohan Singh
Publisher : Unknown
Page : 211 pages
File Size : 43,9 Mb
Release : 2016
Category : Credit
ISBN : OCLC:1062401208

Get Book

Collateral and Financial Plumbing by Manmohan Singh Pdf

Collateral is one of the building blocks on which the financial markets are constructed. Used for a number of purposes--including trading with central counterparties (CCPs), secured funding with market counterparties and central banks, OTC derivatives margining and settlement--the role of effective collateral management in monetizing assets has never been more important.

Author : Paul C. Harding,Christian A. Johnson
Publisher : Pearson Professional
Page : 0 pages
File Size : 51,9 Mb
Release : 2012
Category : Business & Economics
ISBN : 0273757172

Get Book

Mastering the ISDA Collateral Documents by Paul C. Harding,Christian A. Johnson Pdf

A timely updating of the only accessible single volume guide to the ISDA Credit Support Annexes, sanctioned under English and US law. The Annexes collateralise or secure over the counter derivatives risk exposure. This is the companion book to Mastering the ISDA Master Agreements, now in its third edition. First published in 2002, the book is a guide to negotiation of the two main ISDA Credit Support Annexes which are used to support the ISDA Master Agreements. The ISDA Credit Support Annexes are the main support documents which relate to collateralised or secure over the counter derivatives risk exposure. This book covers collateral management from an operational perspective and focuses on the two main ISDA Credit Support Documents. It provides a clear concise narrative on their provisions and amendments

Author : Damiano Brigo,Massimo Morini,Andrea Pallavicini
Publisher : John Wiley & Sons
Page : 464 pages
File Size : 45,5 Mb
Release : 2013-03-05
Category : Business & Economics
ISBN : 9780470661789

Get Book

Counterparty Credit Risk, Collateral and Funding by Damiano Brigo,Massimo Morini,Andrea Pallavicini Pdf

The book’s content is focused on rigorous and advanced quantitative methods for the pricing and hedging of counterparty credit and funding risk. The new general theory that is required for this methodology is developed from scratch, leading to a consistent and comprehensive framework for counterparty credit and funding risk, inclusive of collateral, netting rules, possible debit valuation adjustments, re-hypothecation and closeout rules. The book however also looks at quite practical problems, linking particular models to particular ‘concrete’ financial situations across asset classes, including interest rates, FX, commodities, equity, credit itself, and the emerging asset class of longevity. The authors also aim to help quantitative analysts, traders, and anyone else needing to frame and price counterparty credit and funding risk, to develop a ‘feel’ for applying sophisticated mathematics and stochastic calculus to solve practical problems. The main models are illustrated from theoretical formulation to final implementation with calibration to market data, always keeping in mind the concrete questions being dealt with. The authors stress that each model is suited to different situations and products, pointing out that there does not exist a single model which is uniformly better than all the others, although the problems originated by counterparty credit and funding risk point in the direction of global valuation. Finally, proposals for restructuring counterparty credit risk, ranging from contingent credit default swaps to margin lending, are considered.

Author : Jon Gregory
Publisher : John Wiley & Sons
Page : 328 pages
File Size : 42,9 Mb
Release : 2014-06-25
Category : Business & Economics
ISBN : 9781118891582

Get Book

Central Counterparties by Jon Gregory Pdf

Practical guidance toward handling the latest changes to the OTC derivatives market Central Counterparties is a practical guide to central clearing and bilateral margin requirements, from one of the industry's most influential credit practitioners. With up-to-date information on the latest regulations imposed after the global financial crisis, this book covers the mechanics of the clearing process and analyses the resulting consequences. Detailed discussion explains the ways in which the very significant clearing and margining rules will affect the OTC derivatives market and the financial markets in general, with practical guidance toward implementation and how to handle the potential consequences. Over-the-counter derivatives were blamed by many for playing a major role in the 2007 financial crisis, resulting in a significant attention and dramatic action by policymakers, politicians, and regulators to reduce counterparty credit risk which was seen as a major issue in the crisis. The two most important regulatory changes are the mandatory clearing of standardised OTC derivatives, and the requirements for bilateral margin posting in non-standard OTC contracts. Central Counterparties is a complete reference guide to navigating these changes, providing clarification and practical advice. Review the mitigation of counterparty credit risk with the historical development of central clearing Clarify the latest regulatory requirements imposed by Dodd-Frank, EMIR, Basel III and more Learn the mechanics of central clearing, with special attention to complex issues such as margin calculations, the loss waterfall, client clearing and regulatory capital rules Gain insight into the advantages and disadvantages of clearing and bilateral margin requirements, and the potential issues that arise As the clearing and margining mandates are phased in, the associated costs will be severe enough to dramatically shift the topology of the financial markets and transform the nature of risk. Central Counterparties provides the information, clarification and expert insight market practitioners need to get up to speed quickly.

Author : Michael Simmons,Elaine Dalgleish
Publisher : John Wiley & Sons
Page : 429 pages
File Size : 50,9 Mb
Release : 2006-02-03
Category : Business & Economics
ISBN : 9780470870679

Get Book

Corporate Actions by Michael Simmons,Elaine Dalgleish Pdf

Corporate actions are events that affect large corporations through to the individual investor - even those that own a single-share! All organizations that hold equity and debt securities for themselves and/or on behalf of others are affected when the issuer of a security announces an income or corporate action event. The successful management of the array of different event types requires understanding of the inherent risks, and tight controls at critical points in the event lifecycle. The management of income and corporate action events are important and essential parts of the securities industry business. Written by authors with many years experience within this sector, Corporate Actions: A Guide to Securities Event Management sets out to demystify the subject and provides a thorough, step-by-step introduction to corporate actions and income events. Corporate Actions is a comprehensive source for understanding a major component of operational processing. The individual components and their relation to each other within the corporate actions lifecycle are explained in detail, through which the reader will gain a clear and thorough understanding of the lifecycle together with potential processing risks and the strategies to mitigate Corporate Actions is essential reading for all those involved in the securities industry, from new recruits to those involved in both the day-to-day operations process and those within executive management. It will also prove invaluable to those providing consultancy and software solutions to the securities industry. Corporate Actions is the first major work on this subject. Many people within the securities industry have heard of corporate actions - many people know they can be highly risky - many organizations have lost vast sums of cash in attempting to process them - very few understand them!

Author : Jon Gregory
Publisher : John Wiley & Sons
Page : 709 pages
File Size : 45,5 Mb
Release : 2020-07-07
Category : Business & Economics
ISBN : 9781119508977

Get Book

The xVA Challenge by Jon Gregory Pdf

A thoroughly updated and expanded edition of the xVA challenge The period since the global financial crisis has seen a major re-appraisal of derivatives valuation, generally expressed in the form of valuation adjustments (‘xVAs’). The quantification of xVA is now seen as fundamental to derivatives pricing and valuation. The xVA topic has been complicated and further broadened by accounting standards and regulation. All users of derivatives need to have a good understanding of the implications of xVA. The pricing and valuation of the different xVA terms has become a much studied topic and many aspects are in constant debate both in industry and academia. Discussing counterparty credit risk in detail, including the many risk mitigants, and how this leads to the different xVA terms Explains why banks have undertaken a dramatic reappraisal of the assumptions they make when pricing, valuing and managing derivatives Covers what the industry generally means by xVA and how it is used by banks, financial institutions and end-users of derivatives Explains all of the underlying regulatory capital (e.g. SA-CCR, SA-CVA) and liquidity requirements (NSFR and LCR) and their impact on xVA Underscores why banks have realised the significant impact that funding costs, collateral effects and capital charges have on valuation Explains how the evolution of accounting standards to cover CVA, DVA, FVA and potentially other valuation adjustments Explains all of the valuation adjustments – CVA, DVA, FVA, ColVA, MVA and KVA – in detail and how they fit together Covers quantification of xVA terms by discussing modelling and implementation aspects. Taking into account the nature of the underlying market dynamics and new regulatory environment, this book brings readers up to speed on the latest developments on the topic.