Managing Credit Risk: The Great Challenge for Global Financial Markets / Edition 2
  • Managing Credit Risk: The Great Challenge for Global Financial Markets / Edition 2
  • Managing Credit Risk: The Great Challenge for Global Financial Markets / Edition 2

Managing Credit Risk: The Great Challenge for Global Financial Markets / Edition 2

by John B. Caouette, Edward I. Altman, Paul Narayanan, Robert Nimmo
     
 

ISBN-10: 0470118725

ISBN-13: 9780470118726

Pub. Date: 05/16/2008

Publisher: Wiley

It would be an understatement to say that the field of finance—specifically the credit arena—has changed in the decade since the first edition of Managing Credit Risk was published. Ten years later, things look a lot different. Credit risk has grown in scope and complexity against the backdrop of global economic, political, and technological change, and

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Overview

It would be an understatement to say that the field of finance—specifically the credit arena—has changed in the decade since the first edition of Managing Credit Risk was published. Ten years later, things look a lot different. Credit risk has grown in scope and complexity against the backdrop of global economic, political, and technological change, and there are also many more tools, much more information, and some important new players to deal with.

That's why John Caouette, Edward Altman, Paul Narayanan, and Robert Nimmo have created Managing Credit Risk, Second Edition. Fully revised and updated to reflect the numerous developments within the discipline, this timely title combines state-of-the-art credit risk solutions with the practical perspectives of leading experts who have successfully implemented them.

Written with the serious financial professional in mind, Managing Credit Risk, Second Edition opens with a detailed discussion of today's global credit markets—touching on everything from the emergence of hedge funds as major players to the growing influence of rating agencies. After gaining a firm understanding of these issues, you'll be introduced to some of the most effective credit risk management tools, techniques, and vehicles currently available, including:

  • Credit models for small business, real estate, and emerging market companies

  • Default recovery rates and "loss given default" in credit risk modeling and practice

  • Credit risk models based on accounting data and market values

  • Testing and implementation of credit risk models

  • The most popular forms of credit derivatives and approaches that can be used to analyze counterparty credit risk and much more

Rounding out this discussion of credit risk management, the authors skillfully integrate emerging trends in the financial markets with the new methods mentioned. This will allow you to quickly apply the lessons outlined throughout these pages to today's dynamic credit environment.

In recent years, credit risk has become pervasive throughout the world. The dramatic growth in borrowing by all segments of society—from corporations and consumers to governments—clearly illustrates the scale of this credit explosion. If you need to keep up with the constant changes in the world of credit risk management, and want to improve your overall understanding of this field, then look no further than Managing Credit Risk, Second Edition.

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Product Details

ISBN-13:
9780470118726
Publisher:
Wiley
Publication date:
05/16/2008
Series:
Wiley Finance Series, #401
Edition description:
Revised
Pages:
528
Product dimensions:
5.90(w) x 9.00(h) x 2.10(d)

Table of Contents

About the Authors.

Introduction.

Chapter 1. Credit Risk: The Great Challenge For The Global Economy.

Chapter 2. Credit Culture.

Chapter 3. Classic Industry Players: Banks, Savings Institutions, Insurance: Companies, Finance Companies, and Special Purpose Entities.

Chapter 4. The Portfolio Managers: Investment Managers, Mutual Funds, Pension Funds, and Hedge Funds.

Chapter 5. Structural Hubs Clearinghouses, Derivative Product Companies, and Exchanges.

Chapter 6. The Rating Agencies.

Chapter 7. Classic Credit Analysis.

Chapter 8. Asset-Based Lending and Lease Finance.

Chapter 9. Introduction to Credit Risk Models.

Chapter 10. Credit Risk Models Based upon Accounting Data and Market Values.

Chapter 11. Corporate Credit Risk Models Based on Stock Price.

Chapter 12. Consumer Finance Models.

Chapter 13. Credit Models for Small Business, Real Estate, and Financial Institutions.

Chapter 14. Testing and Implementation of Credit Risk Models.

Chapter 15. About Corporate Default Rates.

Chapter 16. Default Recovery Rates and LGD in Credit Risk Modeling and Practice.

Chapter 17. Credit Risk Migration.

Chapter 18. Introduction to Portfolio Approaches.

Chapter 19. Economic Capital and Capital Allocation.

Chapter 20. Application of Portfolio Approaches.

Chapter 21. Credit Derivatives.

Chapter 22. Counterparty Risk.

Chapter 23. Country Risk Models.

Chapter 24. Structured Finance.

Chapter 25. New Markets, New Players, New Ways to Play.

Chapter 26. Market Chaos and a Reversion to the Mean: The Rediscovery of Culture as a Critical Risk Management Tool.

Notes.

Appendix.

Index.

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