CCR training program outline
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This document provides an overview of a training program on counterparty credit risk (CCR). It covers topics such as defining and measuring credit exposure, calculating potential future exposure through simulations, credit support annexes and collateral management, credit valuation adjustments, allocating CVA contributions, addressing wrong-way risk, and regulatory capital requirements for CCR under Basel III. The program also includes advanced mathematical and programming techniques for quantitatively modeling and managing CCR.
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Chapter 3 fx rate risk monitoring and controls
This document discusses managing foreign exchange (FX) rate risk under the Basel III framework. It defines FX rate risk monitoring and controls, including calculating the worst case loss of an FX portfolio over a holding period, monitoring daily FX rate changes and the concentration of FX rate risk. The document recommends mitigating FX rate risk through rebalancing FX portfolios by selling the original portfolio and buying a new portfolio with different risk characteristics to reduce the worst case loss.
Chapter 8 heterogeneous debt portfolio
This document summarizes key aspects of modeling heterogeneous debt portfolios. It discusses Moody's binominal expansion technique for modeling portfolios with homogeneous exposures and probabilities of default. For heterogeneous portfolios, it describes using Monte Carlo simulation to estimate a range of potential worst case losses. Industry practices for modeling various types of heterogeneous portfolios are also outlined.
Chapter 7 homogeneous debt portfolios
This document provides an overview of modeling credit risk for homogeneous debt portfolios using a Gaussian copula approach. It discusses key concepts like:
1) Modeling default dependence between borrowers in a portfolio using correlated standard normal random variables and a copula correlation coefficient (CCC).
2) Calculating portfolio credit measures like the worst case default rate (WCDR) and worst case loss (WCL) for independent and finite homogeneous portfolios.
3) Specifying CCC values for different exposure types according to the Basel III framework.
4) Using Monte Carlo simulation to model default rates across a finite portfolio of borrowers with the same probability of default (PD) and CCC.
2008 implementation of va r in financial institutions
The document discusses implementing a value-at-risk (VaR) system in a financial institution. It describes VaR as a single risk measure that incorporates risks across all financial instruments. It outlines methods for calculating VaR, including variance-covariance, historical simulation, and Monte Carlo simulation. It also discusses components of an industry VaR system including market data, pricing engines, and VaR computation. Limitations of VaR are noted.
Chapter 18 internal ratings based approach
This document summarizes Chapter 18 of the textbook "Managing Credit Risk Under The Basel III Framework, 3rd ed". It discusses the internal ratings-based approach (IRB) for calculating capital requirements under Basel III. The IRB approach allows banks to use their own estimates of probability of default (PD), loss given default (LGD), and exposure at default (EAD) in the capital calculation. The document outlines the IRB formulas for different exposure types including retail, corporate, and institutional exposures. It also discusses credit risk mitigation techniques within the IRB approach.
Chapter 15 financial tsunami 2008
This document provides an outline for a presentation on the 2008 financial crisis. It will include a movie on the crisis called "Inside Job" and discuss the causes, processes, consequences, impacts, lessons learned, and other important aspects using a case studies framework. The presentation is prepared according to Chapter 15 of the textbook "Managing Credit Risk Under The Basel III Framework, 3rd ed" and is authored by Dr. Lam Yat-fai.
Chapter 1 fx rate risk for single currrency
This document discusses managing foreign exchange (FX) rate risk under the Basel III framework. It begins with an overview of FX markets and FX rate risk. It then discusses cash flows and valuation related to foreign currency, and outlines factors that influence FX rate risk such as value, quantity, holding period, and FX rate dispersion. Finally, it discusses calculating value-at-risk (VaR) using methodologies like historical simulation and Monte Carlo simulation to measure potential FX losses over a given time period at a given confidence level.
The regulatory framework of banking industry in hong kong
This document outlines the regulatory framework for banking in Hong Kong. It discusses the key laws and organizations that govern the banking industry, including the Banking Ordinance, which establishes the regulatory powers and licensing system. It also describes the role of the Hong Kong Monetary Authority (HKMA) as the de facto central bank and regulator. The HKMA is responsible for banking policy, supervision, and enforcement. It oversees authorized institutions to ensure stability and protect customers. The framework also includes subsidiary legislation, guidelines, international standards that the HKMA adheres to in regulating the banking sector.
Recommended
Chapter 3 fx rate risk monitoring and controls
This document discusses managing foreign exchange (FX) rate risk under the Basel III framework. It defines FX rate risk monitoring and controls, including calculating the worst case loss of an FX portfolio over a holding period, monitoring daily FX rate changes and the concentration of FX rate risk. The document recommends mitigating FX rate risk through rebalancing FX portfolios by selling the original portfolio and buying a new portfolio with different risk characteristics to reduce the worst case loss.
Chapter 8 heterogeneous debt portfolio
This document summarizes key aspects of modeling heterogeneous debt portfolios. It discusses Moody's binominal expansion technique for modeling portfolios with homogeneous exposures and probabilities of default. For heterogeneous portfolios, it describes using Monte Carlo simulation to estimate a range of potential worst case losses. Industry practices for modeling various types of heterogeneous portfolios are also outlined.
Chapter 7 homogeneous debt portfolios
This document provides an overview of modeling credit risk for homogeneous debt portfolios using a Gaussian copula approach. It discusses key concepts like:
1) Modeling default dependence between borrowers in a portfolio using correlated standard normal random variables and a copula correlation coefficient (CCC).
2) Calculating portfolio credit measures like the worst case default rate (WCDR) and worst case loss (WCL) for independent and finite homogeneous portfolios.
3) Specifying CCC values for different exposure types according to the Basel III framework.
4) Using Monte Carlo simulation to model default rates across a finite portfolio of borrowers with the same probability of default (PD) and CCC.
2008 implementation of va r in financial institutions
The document discusses implementing a value-at-risk (VaR) system in a financial institution. It describes VaR as a single risk measure that incorporates risks across all financial instruments. It outlines methods for calculating VaR, including variance-covariance, historical simulation, and Monte Carlo simulation. It also discusses components of an industry VaR system including market data, pricing engines, and VaR computation. Limitations of VaR are noted.
Chapter 18 internal ratings based approach
This document summarizes Chapter 18 of the textbook "Managing Credit Risk Under The Basel III Framework, 3rd ed". It discusses the internal ratings-based approach (IRB) for calculating capital requirements under Basel III. The IRB approach allows banks to use their own estimates of probability of default (PD), loss given default (LGD), and exposure at default (EAD) in the capital calculation. The document outlines the IRB formulas for different exposure types including retail, corporate, and institutional exposures. It also discusses credit risk mitigation techniques within the IRB approach.
Chapter 15 financial tsunami 2008
This document provides an outline for a presentation on the 2008 financial crisis. It will include a movie on the crisis called "Inside Job" and discuss the causes, processes, consequences, impacts, lessons learned, and other important aspects using a case studies framework. The presentation is prepared according to Chapter 15 of the textbook "Managing Credit Risk Under The Basel III Framework, 3rd ed" and is authored by Dr. Lam Yat-fai.
Chapter 1 fx rate risk for single currrency
This document discusses managing foreign exchange (FX) rate risk under the Basel III framework. It begins with an overview of FX markets and FX rate risk. It then discusses cash flows and valuation related to foreign currency, and outlines factors that influence FX rate risk such as value, quantity, holding period, and FX rate dispersion. Finally, it discusses calculating value-at-risk (VaR) using methodologies like historical simulation and Monte Carlo simulation to measure potential FX losses over a given time period at a given confidence level.
The regulatory framework of banking industry in hong kong
This document outlines the regulatory framework for banking in Hong Kong. It discusses the key laws and organizations that govern the banking industry, including the Banking Ordinance, which establishes the regulatory powers and licensing system. It also describes the role of the Hong Kong Monetary Authority (HKMA) as the de facto central bank and regulator. The HKMA is responsible for banking policy, supervision, and enforcement. It oversees authorized institutions to ensure stability and protect customers. The framework also includes subsidiary legislation, guidelines, international standards that the HKMA adheres to in regulating the banking sector.
bjerregard_gulloev_master's_thesis
This thesis analyzes the regulatory capital treatment of securitizations under Basel I, II, and III. It evaluates how the frameworks have evolved over time to address issues like regulatory capital arbitrage and improve risk sensitivity. The document also investigates the procyclical tendencies of Basel and the fact that capital requirements are independent of a bank's portfolio. It presents two securitization structures as case studies and uses simulations to analyze the impact of proposed initiatives to mitigate procyclicality. The thesis contributes to understanding how securitization regulation has developed and identifies remaining challenges around these complex financial products.
Chapter 14 collateralization debt obligations
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Chapter 11 treasury rate risk management
This document provides an overview of managing market risk under the Basel IV framework. It discusses treasury rate risk management, including interest rate markets, cash flow mapping, risk monitoring and mitigation techniques, treasury futures, and treasury bills. Methods covered for measuring and mitigating risk include probability of default calculations, expected shortfall modeling, concentration metrics, and derivatives. Treasury rate interpolation, present value distributions, and cash flow recovery techniques are presented for mapping cash flows.
Chapter 8 fx structured products
This document discusses managing market risk under the Basel III framework and focuses on foreign exchange and structured products. It defines structured products and describes common types like participating forwards and target accrual redemption forwards. It explains how these products work, including their payoff structures and the use of options. The document also discusses a 2008 scandal involving Citic Pacific and significant losses on Australian dollar structured products.
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This document provides an overview of foreign exchange options and how they can be used to manage currency risk. It discusses:
- FX call options, which give the holder the right to buy currency at a predetermined strike price, and how they can be used to hedge against currency appreciation.
- The cash flows and valuation of FX call options using the Black-Scholes model. Key factors like moneyness and delta are also explained.
- How FX call options can be replicated using a dynamic hedging portfolio of the underlying currency and a risk-free asset. This helps manage the currency risk of the option position.
- Additional risk management techniques like using forwards or other options to hedge the
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This document provides an overview of managing foreign exchange exposures and exchange rate fluctuations. It discusses the different types of currency exposures that companies face, including transaction, economic, and translation exposures. Transaction exposures arise from outstanding foreign currency obligations before exchange rates change. The document outlines how changing exchange rates can affect companies and provides examples of currency risk from imports, exports, and foreign borrowing. It also discusses factors that influence exchange rate movements and the objectives of foreign exchange risk management.
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Basel accords
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Chapter 8 equity risk management
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This document provides an overview of regulatory market risk capital requirements under the Basel IV framework. It discusses the expected shortfall approach and standardized variance-covariance method for calculating market risk capital charges. The internal model approach uses an bank's expected shortfall model and is more risk sensitive but also more complex and stringent. The standardized approach applies standardized calculations and correlation coefficients specified in Basel IV and is simpler but less risk sensitive.
Chapter 13 basel iv market risk framework
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Chap 9
1. The document discusses key properties and relationships involving stock options, including how the price of calls and puts are affected by variables like the stock price, strike price, time to expiration, volatility, and interest rates.
2. It explores the difference between American and European options and conditions where an arbitrage opportunity may exist.
3. The document examines the potential to exercise American options early and reasons why calls on non-dividend paying stocks usually are not exercised early.
Prudential norms on Income recognition, asset classification and provisioning...
The document outlines the Reserve Bank of India's prudential norms for classifying bank loans as non-performing assets and provisions related to loan advances. Key points include:
- Loans are classified as NPAs if interest or principal payments are overdue for more than 90 days.
- Income from NPAs should not be recognized and any interest recorded previously must be reversed.
- NPAs are further classified as substandard, doubtful or loss assets based on number of days past due.
- Higher provisioning is required for worse classified assets to account for higher credit risk.
Credit Derivatives
This document provides a summary of credit derivatives and related financial instruments in 3 paragraphs:
Paragraph 1 summarizes the historical development of credit derivatives, including total return swaps pioneered by Bankers Trust to transfer credit risk without transferring loans.
Paragraph 2 explains how credit default swaps (CDS) emerged to meet the need for credit protection, functioning essentially as insurance against bankruptcy where the protection buyer pays premiums to the protection seller.
Paragraph 3 gives an overview of other credit derivative instruments including basket CDS, CDS indexes, synthetic CDOs, credit-linked notes, and credit spread options; it also distinguishes CDS from total return swaps and collateralized debt obligations (CDOs).
8ª Conseguro - Conrad Albrecht
- Generate portfolio
value distribution
- Compute VaR, ES
- Stress test
- Identify drivers of risk
- Optimize portfolio
- Capital allocation
- Limit monitoring
- Risk adjusted pricing
- Risk adjusted
performance
- What-if analysis
- Risk reporting
- Concentration risk
- Diversification benefits
- Regulatory capital
- Economic capital
- Credit portfolio
management
- Credit risk modeling
- Credit risk analytics
- Credit portfolio analysis
- Credit portfolio strategy
- Credit portfolio
optimization
- Credit portfolio
monitoring
- Credit portfolio
valuation
- Credit portfolio
reporting
- Credit portfolio stress
testing
Discounted Cash Flow Methodology for Banks and Credit Unions
As institutions prepare for the CECL or current expected credit loss model for the allowance for loan and lease losses (ALLL), institutions are prudently learning the various methodologies available to them. Discounted Cash Flow or DCF is one proposed methodology. This session presents best practices and use cases for the ALLL methodology. See the recording: http://web.sageworks.com/dcf-webinar/
Incremental Risk Charge - Credit Migration Risk
The document discusses credit migration risk modeling for calculating the Incremental Risk Charge (IRC). It outlines the requirements for IRC models, including using a one-year capital horizon at a 99.9% confidence level. It also discusses model assumptions, such as assigning positions to liquidity buckets and using a constant level of risk trading strategy. The document then provides an initial outline for an IRC risk model and discusses considerations such as the need to model credit migration risk under both objective and risk-neutral probability measures.
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Risk
Risk management in banking involves four main steps: identifying risks, measuring them both qualitatively and quantitatively, managing the risks, and monitoring and reviewing risks on an ongoing basis. There are three main categories of risk for banks: credit risk, market risk, and operational risk. Basel II aimed to make capital requirements more risk-sensitive by directly linking capital to the risk levels of counterparties and businesses. It introduced three pillars: minimum capital requirements, supervisory review, and market discipline through disclosure.
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This thesis analyzes the regulatory capital treatment of securitizations under Basel I, II, and III. It evaluates how the frameworks have evolved over time to address issues like regulatory capital arbitrage and improve risk sensitivity. The document also investigates the procyclical tendencies of Basel and the fact that capital requirements are independent of a bank's portfolio. It presents two securitization structures as case studies and uses simulations to analyze the impact of proposed initiatives to mitigate procyclicality. The thesis contributes to understanding how securitization regulation has developed and identifies remaining challenges around these complex financial products.
Chapter 14 collateralization debt obligations
This document provides an outline and content for Chapter 14 on Collateralized Debt Obligations (CDOs). It discusses the characteristics of traditional CDOs, synthetic CDOs, and market value CDOs. It covers CDO tranching, cash waterfalls, and how CDOs redistribute credit risk from the reference portfolio to the tranches. The document also discusses CDO rating methodologies including attachment points, detachment points, and tests used by agencies to determine ratings.
Chapter 11 treasury rate risk management
This document provides an overview of managing market risk under the Basel IV framework. It discusses treasury rate risk management, including interest rate markets, cash flow mapping, risk monitoring and mitigation techniques, treasury futures, and treasury bills. Methods covered for measuring and mitigating risk include probability of default calculations, expected shortfall modeling, concentration metrics, and derivatives. Treasury rate interpolation, present value distributions, and cash flow recovery techniques are presented for mapping cash flows.
Chapter 8 fx structured products
This document discusses managing market risk under the Basel III framework and focuses on foreign exchange and structured products. It defines structured products and describes common types like participating forwards and target accrual redemption forwards. It explains how these products work, including their payoff structures and the use of options. The document also discusses a 2008 scandal involving Citic Pacific and significant losses on Australian dollar structured products.
Chapter 6 fx options
This document provides an overview of foreign exchange options and how they can be used to manage currency risk. It discusses:
- FX call options, which give the holder the right to buy currency at a predetermined strike price, and how they can be used to hedge against currency appreciation.
- The cash flows and valuation of FX call options using the Black-Scholes model. Key factors like moneyness and delta are also explained.
- How FX call options can be replicated using a dynamic hedging portfolio of the underlying currency and a risk-free asset. This helps manage the currency risk of the option position.
- Additional risk management techniques like using forwards or other options to hedge the
Sg credit derivatives overview
This document provides an introduction to credit derivatives. It defines credit risk and credit deterioration risk as the risks of financial loss due to a borrower defaulting or their credit quality decreasing. Credit derivatives allow investors to transfer these risks. The global market for credit derivatives has grown significantly. Common credit derivative products include credit default swaps, which transfer default risk, total rate of return swaps, which transfer both credit and price risk, and credit spread products. The document discusses the key features and uses of these different credit derivative products.
Chapter 9 equity derivatives
This document discusses equity derivatives risk management under the Basel IV framework. It provides an overview of equity futures, equity options, equity index futures, and equity index options. It discusses the valuation and risk factors for portfolios containing these derivatives. Key points covered include the purposes and cash flows of each instrument, how to value them using models like Black-Scholes, and the equity and volatility risks associated with portfolios of these derivatives. Examples and equations are provided for calculating values and risk exposures.
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This document provides an overview of managing foreign exchange exposures and exchange rate fluctuations. It discusses the different types of currency exposures that companies face, including transaction, economic, and translation exposures. Transaction exposures arise from outstanding foreign currency obligations before exchange rates change. The document outlines how changing exchange rates can affect companies and provides examples of currency risk from imports, exports, and foreign borrowing. It also discusses factors that influence exchange rate movements and the objectives of foreign exchange risk management.
Chapter 17 basel accord and standardized approach
This document summarizes key aspects of the Basel Capital Accords, including Basel I, Basel II, and Basel III frameworks. It outlines the standardized approach for calculating capital requirements, including calculations for exposure at default, credit conversion factors, risk weights, and regulatory capital tiers. It also provides examples of how to apply the standardized approach to calculate capital charges and ensure capital adequacy ratios are met.
Basel accords
The Basel Accords are agreements established by the Basel Committee on Banking Supervision that provide recommendations on banking regulations and standards. The purpose is to ensure that banks have sufficient capital reserves to protect against unexpected financial risks. Basel I established initial capital requirements and risk weights. Basel II introduced refined risk management standards. Basel III was released in 2010 in response to the financial crisis to strengthen capital and liquidity standards for banks.
Chapter 8 equity risk management
This document summarizes key points about managing equity risk from the document "Managing Market Risk Under The Basel IV Framework". It discusses equity risk identification, measurement, monitoring, and mitigation. For measurement, it describes expected shortfall methodology including historical simulation, Monte Carlo simulation, and variance-covariance approaches. It also discusses component expected shortfall. For monitoring, it outlines monitoring equity indices, large exposures, diversification, and unrealized losses. For mitigation, it notes tools like reducing holdings, targeting lower beta, and using derivatives.
Regulatory reporting of market risk under the basel iv framework
This document provides an overview of regulatory market risk capital requirements under the Basel IV framework. It discusses the expected shortfall approach and standardized variance-covariance method for calculating market risk capital charges. The internal model approach uses an bank's expected shortfall model and is more risk sensitive but also more complex and stringent. The standardized approach applies standardized calculations and correlation coefficients specified in Basel IV and is simpler but less risk sensitive.
Chapter 13 basel iv market risk framework
The document summarizes the Basel IV framework for managing market risk. It introduces the four pillars of Basel IV - minimum capital requirements, supervisory review, public disclosure, and liquidity sufficiency. It then discusses the regulatory approaches to calculating market risk capital charges, including the internal models approach and standardized approach. The internal models approach uses an expected shortfall model and requires significant regulatory approval. The standardized approach uses a variance-covariance method and is simpler but less risk sensitive.
Chap 9
1. The document discusses key properties and relationships involving stock options, including how the price of calls and puts are affected by variables like the stock price, strike price, time to expiration, volatility, and interest rates.
2. It explores the difference between American and European options and conditions where an arbitrage opportunity may exist.
3. The document examines the potential to exercise American options early and reasons why calls on non-dividend paying stocks usually are not exercised early.
Prudential norms on Income recognition, asset classification and provisioning...
The document outlines the Reserve Bank of India's prudential norms for classifying bank loans as non-performing assets and provisions related to loan advances. Key points include:
- Loans are classified as NPAs if interest or principal payments are overdue for more than 90 days.
- Income from NPAs should not be recognized and any interest recorded previously must be reversed.
- NPAs are further classified as substandard, doubtful or loss assets based on number of days past due.
- Higher provisioning is required for worse classified assets to account for higher credit risk.
Credit Derivatives
This document provides a summary of credit derivatives and related financial instruments in 3 paragraphs:
Paragraph 1 summarizes the historical development of credit derivatives, including total return swaps pioneered by Bankers Trust to transfer credit risk without transferring loans.
Paragraph 2 explains how credit default swaps (CDS) emerged to meet the need for credit protection, functioning essentially as insurance against bankruptcy where the protection buyer pays premiums to the protection seller.
Paragraph 3 gives an overview of other credit derivative instruments including basket CDS, CDS indexes, synthetic CDOs, credit-linked notes, and credit spread options; it also distinguishes CDS from total return swaps and collateralized debt obligations (CDOs).
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- Generate portfolio
value distribution
- Compute VaR, ES
- Stress test
- Identify drivers of risk
- Optimize portfolio
- Capital allocation
- Limit monitoring
- Risk adjusted pricing
- Risk adjusted
performance
- What-if analysis
- Risk reporting
- Concentration risk
- Diversification benefits
- Regulatory capital
- Economic capital
- Credit portfolio
management
- Credit risk modeling
- Credit risk analytics
- Credit portfolio analysis
- Credit portfolio strategy
- Credit portfolio
optimization
- Credit portfolio
monitoring
- Credit portfolio
valuation
- Credit portfolio
reporting
- Credit portfolio stress
testing
Discounted Cash Flow Methodology for Banks and Credit Unions
As institutions prepare for the CECL or current expected credit loss model for the allowance for loan and lease losses (ALLL), institutions are prudently learning the various methodologies available to them. Discounted Cash Flow or DCF is one proposed methodology. This session presents best practices and use cases for the ALLL methodology. See the recording: http://web.sageworks.com/dcf-webinar/
Incremental Risk Charge - Credit Migration Risk
The document discusses credit migration risk modeling for calculating the Incremental Risk Charge (IRC). It outlines the requirements for IRC models, including using a one-year capital horizon at a 99.9% confidence level. It also discusses model assumptions, such as assigning positions to liquidity buckets and using a constant level of risk trading strategy. The document then provides an initial outline for an IRC risk model and discusses considerations such as the need to model credit migration risk under both objective and risk-neutral probability measures.
The Credit Crisis and beyond: Lessons from the Financial Crisis & Sound Pract...
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Risk Rating Improvements for the ALLL in Banks and Credit Unions
Risk Ratings will play a pivotal role under CECL at banks and credit unions. In this presentation, find out how to improve risk rating systems, including PD/LGD or Probability of Default as well as internal matrices.
Risk
Risk management in banking involves four main steps: identifying risks, measuring them both qualitatively and quantitatively, managing the risks, and monitoring and reviewing risks on an ongoing basis. There are three main categories of risk for banks: credit risk, market risk, and operational risk. Basel II aimed to make capital requirements more risk-sensitive by directly linking capital to the risk levels of counterparties and businesses. It introduced three pillars: minimum capital requirements, supervisory review, and market discipline through disclosure.
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Thomas McNulty leads Navigant's commodity derivatives and hedging practice. He has over 30 years of experience in banking, corporate finance, and consulting. Navigant provides advisory services related to hedge strategy, model design, valuation, reporting, and more. McNulty has valued over $11 billion in derivative instruments and advises clients on complex issues related to derivatives.
Derivatives and hedging advisory services july 2015
Thomas McNulty leads Navigant's commodity derivatives and hedging practice. He has over 30 years of experience in banking, corporate finance, and consulting. Navigant provides advisory services related to hedge strategy, model design, valuation, reporting, and more. McNulty has valued over $11 billion in derivative instruments and advises clients on complex issues related to derivatives.
risk.ppt
This document discusses risk management in banks and the need for building a risk warehouse. It provides an overview of risk management and Basel II regulations. It discusses different types of financial risks like credit risk, market risk, and operational risk. It explains statistical and financial concepts of risk. It also covers internal ratings-based approaches for credit risk modeling under Basel II, including calculating probabilities of default, loss given default, and exposure at default. Finally, it discusses tools for credit risk measurement like KMV and CreditMetrics models.
CECL Is Either Working for You or You Are Working for CECL
FASB's new CECL standard imposes numerous expectations on financial institutions. Addressing the intent of FASB's CECL standard enables financial institutions to realize increased financial profitability, improved portfolio risk management, and more refined loan processes such as origination, underwriting, and monitoring. Are you prepared to reap the benefits of leveraging CECL throughout your organization?
Derivatives and hedging advisory services may 2015
Thomas McNulty leads Navigant's commodity derivatives and hedging practice. He has over 30 years of experience in banking, corporate finance, risk management, and consulting. Navigant provides advisory services related to derivatives hedging strategies, model design, valuation, reporting, and compliance. Services include assessing risks, quantifying exposures, structuring hedges, executing trades, performing valuations, making credit adjustments, and monitoring hedge positions. Navigant uses quantitative modeling techniques like Monte Carlo simulation for assessments and has experience valuing over $9 billion in derivative instruments.
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Discounted Cash Flow Methodology for Banks and Credit Unions
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Wayhome's analysis of the UK market and how pension schemes can help solve the problems it presents younger people
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本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
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5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
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BONKMILLON Unleashes Its Bonkers Potential on Solana.pdf
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
when will pi network coin be available on crypto exchange.
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the what'sapp contact of my personal pi vendor
+12349014282
Independent Study - College of Wooster Research (2023-2024)
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
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本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
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1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
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国外毕业证学位证成绩单如何办理：
1客户提供办理信息：姓名生日专业学位毕业时间等（如信息不确定可以咨询顾问：我们有专业老师帮你查询）；
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3毕业证成绩单电子版做好以后发送给您确认；
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Lecture slide titled Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria - Prof Oyedokun.pptxhow to sell pi coins effectively (from 50 - 100k pi)
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the what'sapp number.
+12349014282
Earn a passive income with prosocial investing
Invest in prosocial funds that earn you an income while improving the world
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how to sell pi coins effectively (from 50 - 100k pi)
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CCR training program outline
- 1. Training Program for CCR (Contents)
- 2. 1. Introduction • Risk and Uncertainty Definition • Risk Types Quiz: In which category does each of these risk fall? • Valuation & Risk Management Approaches Case Study: Barings Bank • Counterparty Credit Risk (CCR) • CCR in Back To Back Deals • History of Financial Crisis • Reasons of Risk • Lessons Learnt Case Study: Bear Stearns Summary for Chapter 1 Quiz
- 3. 2. Credit Exposure • Credit losses and CVA • How to Measure Exposure: EE, IE, ME • CE Calculation, Credit Mitigation and Methodologies • Counterparty exposures • Models of Collateral • Netting • Simulating CE • Alternative Ways to Calculate CE • How Does Counterparty Risk Arises • Typical Derivatives Market & CCPs • Credit Support Annex • Central Counterparties CCPs • Advantages & Disadvantages of CCPs Summary for Chapter 2 Quiz
- 4. 3. Exposure Profiles • Exposure Profiles • Potential Future Exposure • PFE – Calculation Methodologies • Monte Carlo Simulation • PFE of Different Instruments • Expected Exposure & Expected Positive Exposure • EE calculation under Netting • Effective Expected Exposure & Effective Expected Positive Exposure • How All Measures are Related? • Tools From This Section Quiz
- 5. 4. Credit Support Annex. (CSA) • Master Document • Credit Support Annex. (CSA) • Sections of a Legal Document • Margining, Thresholds, & Credit Support Amount • Netting • Simple Netting Example • How Netting Sets Are Created? • Collateral Management • Tools From This Section Quiz
- 6. 5. Credit Valuation Adjustment (CVA) • History of CVA • CVA Pyramid • CVA – Defined • Components of CVA • CVA – Calculation Steps • Concept Illustration • Economic Intuition • Role of CVA Desk • CVA – Detailed Workflow • Drivers of CVA • CVA Strategies • Perspective About CVA • Data Requirements for CVA
- 7. 5. Credit Valuation Adjustment (CVA) •Technical Requirement for CVA •CVA Analytics •CVA Reporting •CVA Pricing •CVA Formula Implementation •BASEL About CVA •Standardized Method To Calculate CVA •Advanced Method To Calculate CVA •CVA Capital Charge – Industry Challenges •Tools From This Section Quiz
- 8. 6. CVA Allocations • CVA Contributions from EE Contributions • EE Contributions for Netting Sets • Euler Allocation • EE Contributions for netted exposures • EE Contributions for Collateralized Netting Sets • Instantaneous Collateral Model • Lagged Collateral Model • Simulating CVA Contributions • Computing CVA Contributions under a Normality Assumption Examples Summary Quiz
- 9. 7. Wrong Way Risk • WWR and Concentration • Specific WWR • General WWR • Tools From This Section Quiz
- 10. 8. Regulatory Requirements for CCR • Grid of BASEL III changes • BASEL III changes • How do components fit in together • BASEL III for CCR • BASEL for CVA • Standardized Methodology for CVA • Advanced Methodology for CVA • Tools From This Section Quiz
- 11. 9. Advanced Topics in Mathematics • Distributions and Metrics • Random Walk Process • Differential Equations • Expected Value
- 12. 9. Algorithms and Programing • Algorithms • In Matlab • In Excel • In SAS
- 13. 11. PrevioRisk Guide • Creating New Transaction • Computing Exposure Profiles • Calculating CVA • Marginal Exposures