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S Bouteille, Sylvai Bouteille, Sylvain Bouteille, Sylvain Coogan-Pushner Bouteille, Bouteille Sylvain, Diane Coogan-Pushner...
Handbook of Credit Risk Management - Originating, Assessing, and Managing Credit Exposures
Englisch · Fester Einband
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Beschreibung
Discover an accessible and comprehensive overview of credit risk management
In the newly revised Second Edition of The Handbook of Credit Risk Management: Originating, Assessing, and Managing Credit Exposures, veteran financial risk experts Sylvain Bouteillé and Dr. Diane Coogan-Pushner deliver a holistic roadmap to credit risk management (CRM) ideal for students and the busy professional.
The authors have created an accessible and practical CRM resource consistent with a commonly implemented risk management framework. Divided into four sections--Origination, Credit Assessment, Portfolio Management, and Mitigation and Transfer--the book explains why CRM is critical to the success of large institutions and why organizational structure matters.
The Second Edition of The Handbook of Credit Risk Management also includes:
* Newly updated and enriched data, charts, and content
* Three brand new chapters on consumer finance, state and local credit risk, and sovereign risk
* New ancillary material designed to support higher education and bank credit training educators, including case studies, quizzes, and slides
Perfect for risk managers, corporate treasurers, auditors, and credit risk underwriters, this latest edition of The Handbook of Credit Risk Management will also prove to be an invaluable addition to the libraries of financial analysts, regulators, portfolio managers, and actuaries seeking a comprehensive and up-to-date guide on credit risk management.
Inhaltsverzeichnis
Preface xiii
Acknowledgments xxi
About the Companion Website xxiii
Part One Origination
Chapter 1 Fundamentals of Credit Risk 3
What Is Credit Risk? 3
Types of Transactions That Create Credit Risk 5
Who Is Exposed to Credit Risk? 9
Why Manage Credit Risk? 19
Chapter 2 Governance 21
Guidelines 22
Skills 25
Setting Limits 30
Oversight 30
Final Words 33
Chapter 3 Checklist for Origination 35
Does the Transaction Fit into My Strategy? 36
Does the Risk Fit into My Existing Portfolio? 37
Do I Understand the Credit Risk? 38
Does the Seller Keep an Interest in the Deal? 39
Are the Proper Mitigants in Place? 40
Is the Legal Documentation Satisfactory? 41
Is the Deal Priced Adequately? 41
Do I Have the Skills to Monitor the Exposure? 42
Is There an Exit Strategy? 43
Final Words 44
Part Two Credit Assessment
Chapter 4 Measurement of Credit Risk 47
Exposure 47
Probability of Default 52
The Recovery Rate 62
The Tenor 63
Direct versus Contingent Exposure 64
The Expected Loss 65
Chapter 5 Dynamic Credit Exposure 67
Long-Term Supply Agreements 68
Derivative Products 70
The Economic Value of a Contract 73
Mark-to-Market Valuation 75
Value at Risk (VaR) 78
Chapter 6 Fundamental Credit Analysis 81
Accounting Basics 83
A Typical Credit Report 91
Agency Conflict, Incentives, and Merton's View of Default Risk 100
Final Words 105
Chapter 7 Alternative Estimations of Credit Quality 107
The Evolution of an Indicator: Moody's Analytics EDF(TM) 108
Credit Default Swap Prices 114
Bond Prices 120
Final Words 121
Chapter 8 Consumer Finance 123
What Is Consumer Finance? 126
Segmentation of Consumer Finance Products 127
Major Families of Consumer Finance Products 129
Assessment of Credit Quality 136
Decisions by Lenders 139
Regulatory Environment 143
Chapter 9 State and Local Government Credit 145
State and Local Governments 145
Exposure Types 146
Assessing Credit Risk 152
Managing Credit Risk 156
Final Words 160
Chapter 10 Sovereign Credit Risk 161
Sovereign Borrowers 161
Types of Sovereign Bonds 162
Sovereign Debt Market 163
Credit Analysis 163
Mitigation 166
Default and Recovery 167
Final Words 168
Chapter 11 Securitization 169
Asset Securitization Overview 171
The Collateral 174
The Issuer 178
The Securities 179
Main Families of ABSs 182
Securitization for Risk Transfer 186
Credit Risk Assessment of ABS 189
Warehousing Risk 191
Final Words 192
Chapter 12 Collateral Loan Obligations (CLOs) 193
Overview of the Corporate Loan Market 194
What Are CLOs? 194
Arbitrage CLOs 196
Balance Sheet CLOs 200
ABS CDOs 205
Credit Analysis of CLOs 207
Part Three Portfolio Management
Chapter 13 Credit Portfolio Management 213
Level 1 215
Level 2 219
Level 3 224
Organizational Setup and Staffing 226
The IACPM 227
Final Words 227
Chapter 14 Economic C
Über den Autor / die Autorin
SYLVAIN BOUTEILLÉ is Head of Trade Credit for the Americas at AIG, the global insurance company. Prior to AIG, Sylvain worked more than 20 years at Swiss Re. He holds a MSc degree in Civil Engineering from ENTPE (France) and an MBA from INSEAD (France).
DIANE COOGAN-PUSHNER, PhD, has decades of experience in the financial services industry, working most recently as the Chief Risk Officer of Navigator's Group, Inc., a publicly traded insurer. She received her doctorate from Boston University and is a CFA® charterholder.
Zusammenfassung
Discover an accessible and comprehensive overview of credit risk management
In the newly revised Second Edition of The Handbook of Credit Risk Management: Originating, Assessing, and Managing Credit Exposures, veteran financial risk experts Sylvain Bouteillé and Dr. Diane Coogan-Pushner deliver a holistic roadmap to credit risk management (CRM) ideal for students and the busy professional.
The authors have created an accessible and practical CRM resource consistent with a commonly implemented risk management framework. Divided into four sections--Origination, Credit Assessment, Portfolio Management, and Mitigation and Transfer--the book explains why CRM is critical to the success of large institutions and why organizational structure matters.
The Second Edition of The Handbook of Credit Risk Management also includes:
* Newly updated and enriched data, charts, and content
* Three brand new chapters on consumer finance, state and local credit risk, and sovereign risk
* New ancillary material designed to support higher education and bank credit training educators, including case studies, quizzes, and slides
Perfect for risk managers, corporate treasurers, auditors, and credit risk underwriters, this latest edition of The Handbook of Credit Risk Management will also prove to be an invaluable addition to the libraries of financial analysts, regulators, portfolio managers, and actuaries seeking a comprehensive and up-to-date guide on credit risk management.
Produktdetails
| Autoren | S Bouteille, Sylvai Bouteille, Sylvain Bouteille, Sylvain Coogan-Pushner Bouteille, Bouteille Sylvain, Diane Coogan-Pushner, Coogan-Pushner Diane |
| Verlag | Wiley, John and Sons Ltd |
| Sprache | Englisch |
| Produktform | Fester Einband |
| Erschienen | 31.12.2021 |
| EAN | 9781119835639 |
| ISBN | 978-1-119-83563-9 |
| Seiten | 416 |
| Serien |
Wiley Finance Wiley Finance Editions |
| Themen |
Ratgeber
> Recht, Beruf, Finanzen
Sachbuch > Politik, Gesellschaft, Wirtschaft > Geld, Bank, Börse Sozialwissenschaften, Recht,Wirtschaft > Wirtschaft > Betriebswirtschaft Finance & Investments, Finanz- u. Anlagewesen, Institutionelle Finanzplanung, Institutional & Corporate Finance |
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