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Innovations In Credit Risk Transfer

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Innovations In Credit Risk Transfer

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Author : Darrell Duffie
language : en
Publisher:
Release Date : 2008

Innovations In Credit Risk Transfer written by Darrell Duffie and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Credit categories.

Credit Risk Transfer Instruments

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Author : Qaiser Abbas Khan
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2011-12

Credit Risk Transfer Instruments written by Qaiser Abbas Khan and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12 with categories.

Financial crisis of 2007 has raised serious concerns regarding soundness of financial system. It has been pointed out by several academic scholars that root cause of recent turmoil is embedded deep and closely connected with innovation in credit risk transfer. This study examines the motives behind creation of derivative market and their role in financial meltdown. Among the credit derivatives the two most widely used or abused tools, credit default swaps and collateralized debt obligations, played a significant role in rapid establishment of credit derivative universe thereby leaving behind the long established equity market. The study further examines original concept of credit risk transfer along with their funding structure and dynamics of different tools highlighting the role of Regulators, Rating Agencies, Financial Institutions & contagion effects of innovation on financial industry and establishment of shadow banking. The study concludes on quotation of Terri Duhond that when car crash happens people only blame drivers rather than criticizing the authorities who allow them to drive.

Bank Behavior With Access To Credit Risk Transfer Markets

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Author : Benedikt Goderis
language : en
Publisher:
Release Date : 2010

Bank Behavior With Access To Credit Risk Transfer Markets written by Benedikt Goderis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

One of the most important recent innovations in financial markets has been the development of credit derivative products that allow banks to more actively manage their credit portfolios than ever before. We analyze the effect that access to these markets has had on the lending behavior of a sample of banks, using a sample of banks that have not accessed these markets as a control group. We find that banks that adopt advanced credit risk management techniques (proxied by the issuance of at least one collateralized loan obligation) experience a permanent increase in their target loan levels of around 50%. Partial adjustment to this target, however, means that the impact on actual loan levels is spread over several years.

The Effect Of Lenders Credit Risk Transfer Activities On Borrowing Firms Equity Returns

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Author :
language : en
Publisher:
Release Date : 2006

The Effect Of Lenders Credit Risk Transfer Activities On Borrowing Firms Equity Returns written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

Bank Behaviour With Access To Credit Risk Transfer Markets

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Author : Benedikt Goderis
language : en
Publisher:
Release Date : 2010

Bank Behaviour With Access To Credit Risk Transfer Markets written by Benedikt Goderis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

One of the most important recent innovations in financial markets has been the development of credit derivative products that allow banks to more actively manage their credit portfolios than ever before. We analyse the effect that access to these markets has had on the lending behaviour of a sample of banks, using a sample of banks that have not accessed these markets as a control group. We find that banks that adopt advanced credit risk management techniques (proxied by the issuance of at least one collateralized loan obligation) experience a permanent increase in their target loan levels of around 50%. Partial adjustment to this target, however, means that the impact on actual loan levels is spread over several years.

Innovations In Securitisation Yearbook 2006

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Author : Jan Job de Vries Robbé
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2006-01-01

Innovations In Securitisation Yearbook 2006 written by Jan Job de Vries Robbé and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Law categories.

Despite fears that regulators around the world would act to curtail securitisation severely in the aftermath of the collapse of Enron, WorldCom, and Parmalat, the securitisation industry has witnessed what can only be described as relentless innovation. Securisation remains one of the most important means for financial institutions to diversify their funding, transfer credit risk and manage solvency requirements. This volume, the second in a series focusing on the latest innovations in the global securitisation industry, provides advisers with detailed guidance on key structural and legal issues of innovative securitisations, as well as describing the most recent developments in the accounting and risk-capital treatment of securitisation transactions. The contributors represent a wide range of expert participants in the design, execution, and regulation of securitisation transactions. Among the critical features of contemporary securitisation covered are the following: project finance CLOs; securitisation of equity risk; securitisation of commodity risk through commodity trigger swaps; the convergence of structured credit and securitisation markets; innovation in RMBS: negative equity transactions; innovation in CMBS: A/B structure new markets in Europe, Japan, and Islamic countries; catastrophe risk securitisation; effect of recent US bankruptcy legislation on synthetics; microfinance loan securitisation in emerging markets; public sector securitisation; securitisable intellectual property; application of accounting standards in a rapidly changing environment, and updated analysis of Basel II. The practical perspective of the contributions, combined with the extensive use of case studies of key transactions, should make this volume an invaluable resource for lawyers as well as legal and business academics interested in the very latest developments in the global securitisation markets.

The Art Of Risk Management

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Author : Christopher L. Culp
language : en
Publisher: John Wiley & Sons
Release Date : 2002-07-11

The Art Of Risk Management written by Christopher L. Culp and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-07-11 with Business & Economics categories.

Learn about today's hottest new risk management tools One of the hottest areas of finance today, alternative risk transfer, or ART, refers to the use of various insurance products to manage market, credit, operational, legal, environmental, and other forms of risk. As the capital and insurance markets continue to converge, the number and complexity of new risk-defraying insurance products available to corporations, brokerages, money managers and other financial professionals will continue to grow. Expert Christopher L. Culp uses case studies of recent ART transactions used by risk managers to put the field into perspective for financial professionals and to acquaint them with the various types of risk control products now available. In addition he explores, in-depth, the links between ART, derivatives and bank-arranged risk financing, and he explains the key differences between classic insurance products and financial guarantees, risk financing, bundled layering, and other ART forms.

Financial Innovations And The Welfare Of Nations

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Author : Laurent L. Jacque
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Financial Innovations And The Welfare Of Nations written by Laurent L. Jacque and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

The central question addressed in Financial Innovations and the Welfare of Nations is how the transfer of financial innovations from developed to developing economies can nurture the dynamics of emerging capital markets. National capital markets can be positioned along a continuum ranging from embryonic to mature and emerged markets according to a decreasing "national cost of capital" criterion. In the introductory chapter Laurent Jacque argues that newly emerging countries are handicapped by a high cost of capital due to "incomplete" and inefficient financial markets. As capital markets graduate to higher level of "emergedness", their national firms avail themselves of a lower cost of capital that makes them more competitive in the global economy and spurs economic growth. Skillful transfer of financial innovations to emerging markets often encourages the deregulation of the country's financial services sector. This results into new conduits for a more efficient capital allocation process such as commercial paper, securitized consumer finance and other disintermediated modes of financing which out-compete traditional financial intermediaries (mostly commercial banks), reduce households' cost of living and conjointly fuel the dynamics of emerging markets. Our response to the central question of how the transfer of financial innovations can enhance the Wealth of Nations is to show that it reduces the cost of capital while not unduly increasing systemic risk. Part I examines the relationship between financial innovations and systemic risk of the international financial system.

Innovations In Securitisation Yearbook 2006

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Author : Jan Job de Vries Robbé
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2006

The Limits Of Market Based Risk Transfer And Implications For Managing Systemic Risks

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Author : W. Todd Groome
language : en
Publisher:
Release Date : 2006

The Limits Of Market Based Risk Transfer And Implications For Managing Systemic Risks written by W. Todd Groome and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Finance categories.

The paper discusses the limits to market-based risk transfer in the financial system and the implications for the management of systemic long-term financial risks. Financial instruments or markets to transfer and better manage these risks across institutions and sectors are, as yet, either nascent or nonexistent. As such, the paper investigates why these markets remain "incomplete." It also explores a range of options by which policymakers may encourage the development of these markets as part of governments' role as a risk manager.

Innovations In Credit Risk Transfer

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