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Mastering the ISDA Master Agreements: A Practical Guide for Negotiation (3rd Edition) (Financial Times Series)
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DescriptionA timely updating of the only accessible single volume guide to the agreements and contracts used by the International Swaps and Derivatives Association (ISDA). a clear, user friendly explanation of the Sections of both Master Agreements a sample Schedule describing the reasons for the additions and amendments contained therein examples of variations commonly seen in the market and the effects of accepting them No other book combines these elements in one place. |
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Negotiating Skills for the ISDA Master Agreement: The Essential Playbook for Over-The-Counter Derivatives $69.34 If you negotiate OTC derivatives using the ISDA Master Agreement and Credit Support Annexes, this practical guide will help you protect your interests. Seth Phillip Bender identifies key provisions you can actually change; provides drafting recommendations, language suggestions, and operational tips; and helps you take advantage of ISDA's latest initiatives. |
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Applications of Credit Derivatives $53.45 Hauptbeschreibung This study begins with a general introduction to the credit derivatives market and gives arguments for the growth catalysts which have driven the development to the current state. The financial participants in this market are presented as well. A comparison between market risk and credit risk follows to show the clear transition that helped credit risk to become an asset class. After that, a link to the recent Basel II guidelines is established in order to show the policies that banks have to consider when trading with credit risk. Chapter 2 deals with the historical evolution of credit derivatives and classifies different structures. A presentation of the main types of credit derivatives and their contract elements follow; these are mainly credit default swaps (CDS) and collaterized debt obligations (CDO). Chapter 2 also deals with definitions of a credit event and the calculation of risk premiums. Forms of default payment illustrate the possible settlement of a credit derivative contract. Afterwards, an account of the International Swaps and Derivatives Association (ISDA) is presented. This association serves as a supplier of standardized documentation to all market participants and facilitates transactions. Chapter 3 is the key element of this thesis and shows the applications of credit derivatives: they serve as portfolio diversifiers for asset managers, hedging instruments for banks or corporations and offer arbitrage possibilities for hedge funds and other institutions that monitor mispricings in bond and credit markets. This part delivers essential information for the final evaluation of such instruments from a practical point of view in Chapter 5. In Chapter 4, the thesis covers the most important pricing tools for credit derivatives. Three generally accepted and widely used models are presented and evaluated concerning their suitability for various parties. These models vary greatly. Recently, a German governmental organization has set a standard evaluation system in place; whereas multinational investment banks form their own capacities in house or through joint ventures. An efficient valuation system gives market participants a major competitive advantage because they can observe default probabilities on an ongoing basis under changing market conditions. Chapter 5 deals with an evaluation of credit derivatives from a practical point of view and discusses the opportunities and risks involved in credit derivatives. The author concludes with a critical evaluation about the role and responsibility of regulators in this market and a view on the current situation of the global credit markets. Biographische Informationen Harald Seemann, Diplom-Betriebswirt (FH), 2007 Graduate in European Business Studies at the University of Applied Sciences in Regensburg, Germany. Currently, Mr. Seemann lives in Toronto, Canada and works in the financial services industry. |
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Levy Processes in Credit Risk $140 This book is an introductory guide to using Lévy processes for credit risk modelling. It covers all types of credit derivatives: from the single name vanillas such as Credit Default Swaps (CDSs) right through to structured credit risk products such as Collateralized Debt Obligations (CDOs), Constant Proportion Portfolio Insurances (CPPIs) and Constant Proportion Debt Obligations (CPDOs) as well as new advanced rating models for Asset Backed Securities (ABSs). Jumps and extreme events are crucial stylized features, essential in the modelling of the very volatile credit markets - the recent turmoil in the credit markets has once again illustrated the need for more refined models. Readers will learn how the classical models (driven by Brownian motions and Black-Scholes settings) can be significantly improved by using the more flexible class of Lévy processes. By doing this, extreme event and jumps can be introduced into the models to give more reliable pricing and a better assessment of the risks. The book brings in high-tech financial engineering models for the detailed modelling of credit risk instruments, setting up the theoretical framework behind the application of Lévy Processes to Credit Risk Modelling before moving on to the practical implementation. Complex credit derivatives structures such as CDOs, ABSs, CPPIs, CPDOs are analysed and illustrated with market data. |
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Credit Risk Management $150 Credit Risk Management: Basic Concepts is the first book of a series of three with the objective of providing an overview of all aspects, steps, and issues that should be considered when undertaking credit risk management, including the Basel II Capital Accord, which all major banks must comply with in 2008. The introduction of the recently suggested Basel II Capital Accord has raised many issues and concerns about how to appropriately manage credit risk. Managing credit risk is one of the next big challenges facing financial institutions. The importance and relevance of efficiently managing credit risk is evident from the huge investments that many financial institutions are making in this area, the booming credit industry in emerging economies (e.g. Brazil, China, India, ...), the many events(courses, seminars, workshops, ...) that are being organised on this topic, and the emergence of new academic journals and magazines in the field (e.g. Journal of Credit Risk, Journal of Risk Model Validation, Journal of Risk Management in Financial Institutions, ...). Basic Concepts provides the introduction to the concepts, techniques, and practical examples to guide both young and experienced practitioners and academics in the fascinating, but complex world of risk modelling. Financial risk management, an area of increasing importance with the recent Basel II developments, is discussed in terms of practical business impact and the increasing profitability competition, laying the foundation for books II and III. |
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Quantitative Credit Portfolio Management $110 An innovative approach to post-crash credit portfolio management Credit portfolio managers traditionally rely on fundamental research for decisions on issuer selection and sector rotation. Quantitative researchers tend to use more mathematical techniques for pricing models and to quantify credit risk and relative value. The information found here bridges these two approaches. In an intuitive and readable style, this book illustrates how quantitative techniques can help address specific questions facing today's credit managers and risk analysts. A targeted volume in the area of credit, this reliable resource contains some of the most recent and original research in this field, which addresses among other things important questions raised by the credit crisis of 2008-2009. Divided into two comprehensive parts, Quantitative Credit Portfolio Management offers essential insights into understanding the risks of corporate bonds—spread, liquidity, and Treasury yield curve risk—as well as managing corporate bond portfolios. Presents comprehensive coverage of everything from duration time spread and liquidity cost scores to capturing the credit spread premium Written by the number one ranked quantitative research group for four consecutive years by Institutional Investor Provides practical answers to difficult question, including: What diversification guidelines should you adopt to protect portfolios from issuer-specific risk? Are you well-advised to sell securities downgraded below investment grade? Credit portfolio management continues to evolve, but with this book as your guide, you can gain a solid understanding of how to manage complex portfolios under dynamic events. |
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Credit Default Swap $81.25 A credit default swap (CDS) is a swap contract in which the buyer of the CDS makes a series of payments to the seller and, in exchange, receives a payoff if a credit instrument (typically a bond or loan) goes into default (fails to pay). Less commonly, the credit event that triggers the payoff can be a company undergoing restructuring, bankruptcy, or even just having its credit rating downgraded. CDS contracts have been compared with insurance, because the buyer pays a premium and, in return, receives a sum of money if one of the events specified in the contract occurs. However, there are a number of differences between CDS and insurance, for example: The buyer of a CDS does not need to own the underlying security or other form of credit exposure; in fact the buyer does not even have to suffer a loss from the default event.In contrast, to purchase insurance, the insured is generally expected to have an insurable interest such as owning a debt obligation; the seller need not be a regulated entity; the seller is not required to maintain any reserves to pay off buyers, although major CDS dealers are subject to bank capital requirements. Author: Miller, Frederic P./ Vandome, Agnes F./ McBrewster, John Binding Type: Paperback Number of Pages: 92 Publication Date: 2009/11/23 Language: English Dimensions: 5.98 x 9.01 x 0.22 inches |
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Genres of the Credit Economy $27.5 How did banking, borrowing, investing, and even losing money—in other words, participating in the modern financial system—come to seem like routine activities of everyday life? Genres of the Credit Economy addresses this question by examining the history of financial instruments and representations of finance in eighteenth- and nineteenth-century Britain. Chronicling the process by which some of our most important conceptual categories were naturalized, Mary Poovey explores complex relationships among forms of writing that are not usually viewed together, from bills of exchange and bank checks, to realist novels and Romantic poems, to economic theory and financial journalism. Taking up all early forms of financial and monetary writing, Poovey argues that these genres mediated for early modern Britons the operations of a market system organized around credit and debt. By arguing that genre is a critical tool for historical and theoretical analysis and an agent in the events that formed the modern world, Poovey offers a new way to appreciate the character of the credit economy and demonstrates the contribution historians and literary scholars can make to understanding its operations. Much more than an exploration of writing on and around money, Genres of the Credit Economy offers startling insights about the evolution of disciplines and the separation of factual and fictional genres. |
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The Credit-Anstalt Crisis of 1931 $49.63 Austria played a prominent role in the worldwide events of 1931 as the largest bank in Central and Eastern Europe, the Viennese Credit-Anstalt, collapsed and led Europe into a financial panic that spread to other parts of the world. The events in Austria were pivotal to the economic developments of the 1930s, yet the literature about them is sparse. This book tries to fill this gap. Aurel Schubert analyzes the crisis using the leading theories of financial crises, identifies the causes of the crisis, examines the market's efficiency in predicting events, analyzes how the crisis was transmitted to the real sector, and studies the behavior of the Austrian as well as international authorities as lenders of last resort. His main conclusion is that even sixty years after the crisis, many of its lessons are still valid. Managerial and regulatory deficiencies led to the collapse of the bank; the subsequent currency crisis was not an irrational and unexplainable panic by a confused public, but rather a rational response to inconsistencies in policy; and the reactions of the largely unprepared authorities--in Austria as well as abroad--did not help in resolving the crisis quickly. |
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Inequality, Consumer Credit and the Saving Puzzle $40 Offering a much needed context for events like the sub-prime mortgage crisis, this book presents a vision of an economy evolved to greater dependence on consumer credit and analyses the tradeoffs and risks associated with it. It is suitable for academic economists in sympathy with heterodox and pluralist approaches. |
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ISDA & CO - Fleurette Skirt (Multi) - Apparel $71.99 6pm.com is proud to offer the ISDA & CO - Fleurette Skirt (Multi) - Apparel: Blend in with fashion and style in this Fleurette Skirt from ISDA CO! ; Soft, cool cotton for summer comfort. ; Fitted waistline with back zipper. ; Tiered from waist to hemline for easy movement. ; 100% cotton. ; Machine wash cold, hang to dry. ; Keep your clothing clean, in place, and in style with these products! Hollywood's best-kept Fashion Secret: |
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Quantitative Credit Portfolio Management (Hardcover) $146.91 An innovative approach to post-crash credit portfolio managementCredit portfolio managers traditionally rely on fundamental research for decisions on issuer selection and sector rotation. Quantitative researchers tend to use more mathematical techniques for pricing models and to quantify credit risk and relative value. The information found here bridges these two approaches. In an intuitive and readable style, this book illustrates how quantitative techniques can help address specific questions facing today`s credit managers and risk analysts. A targeted volume in the area of credit, this reliable resource contains some of the most recent and original research in this field, which addresses among other things important questions raised by the credit crisis of 2008-2009. Divided into two comprehensive parts, Quantitative Credit Portfolio Management offers essential insights into understanding the risks of corporate bonds—spread, liquidity, and Treasury yield curve risk—as well as managing corporate bond portfolios.Presents comprehensive coverage of everything from duration time spread and liquidity cost scores to capturing the credit spread premiumWritten by the number one ranked quantitative research group for four consecutive years by Institutional InvestorProvides practical answers to difficult question, including: What diversification guidelines should you adopt to protect portfolios from issuer-specific risk? Are you well-advised to sell securities downgraded below investment grade?Credit portfolio management continues to evolve, but with this book as your guide, you can gain a solid understanding of how to manage complex portfolios under dynamic events. |
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ISDA & CO - Winged Skirt (Multi) - Apparel $86.99 6pm.com is proud to offer the ISDA & CO - Winged Skirt (Multi) - Apparel: Envelop yourself in regal silk and wings of all sorts with ISDA CO. ; Tiers of sheer silk adorn this lovely skirt. ; Elastic waist for easy dressing. ; A pleasant print of juxtaposed wings. ; Asymmetrical hems bring a unique element. ; 100% silk; Lining: 87% cotton, 13% spandex. ; Dry clean only. ; Imported. ; Skirt Length: 21 in ; Product measurements were taken using size S. Please note that measurements may vary by size. ; Keep your clothing clean, in place, and in style with these products! Hollywood's best-kept Fashion Secret: |
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ISDA & CO - Raffia Cardigan (Jungle) - Apparel $89.99 6pm.com is proud to offer the ISDA & CO - Raffia Cardigan (Jungle) - Apparel: An artful blend of comfort and style in ISDA CO. ; Open-front cardigan boasts an open, woven knit. ; Modern three-quarter sleeves. ; Oversize lay-flat collar. ; Straight hemline. ; 95% acrylic, 5% nylon. ; Hand wash cold, reshape and dry flat. ; Imported. ; Length: 23 in ; Product measurements were taken using size S. Please note that measurements may vary by size. ; Keep your clothing clean, in place, and in style with these products! Hollywood's best-kept Fashion Secret: |
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ISDA & CO - Air Cardigan (Black) - Apparel $66.99 6pm.com is proud to offer the ISDA & CO - Air Cardigan (Black) - Apparel: An artful blend of comfort and style in ISDA CO. ; Long sleeve cardigan boasts a tapered hem that's longer at front. ; Open front. ; Side shirring for a flattering fit. ; Ruffles appear at placket for a romantic detail. ; Soft stretch material is slightly sheer. ; 55% cotton, 45% rayon. ; Hand wash cold, reshape and dry flat. ; Imported. ; Length: 26 in ; Product measurements were taken using size S. Please note that measurements may vary by size. ; Keep your clothing clean, in place, and in style with these products! Hollywood's best-kept Fashion Secret: |
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ISDA & CO - Stripe Cardigan (Black) - Apparel $116.99 6pm.com is proud to offer the ISDA & CO - Stripe Cardigan (Black) - Apparel: Warmth and style combine in this amazing long cardigan from ISDA CO. ; Soft blend in varying horizontal stripes. ; Belt loops with removable solid color belt. ; Wrap-around style for extra-cozy fit. ; Asymmetrical hem. ; 70% acrylic, 15% wool, 15% polyester. ; Hand wash cold, dry flat. ; Length: 33 in ; Product measurements were taken using size SM. Please note that measurements may vary by size. ; Keep your clothing clean, in place, and in style with these products! Hollywood's best-kept Fashion Secret: |
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ISDA & CO - Lava Dress (Multi) - Apparel $99.99 6pm.com is proud to offer the ISDA & CO - Lava Dress (Multi) - Apparel: Bring sophistication and sizzle to your wardrobe with this exceptional dress from ISDA CO. ; Soft, lined, flowing fabrication. ; Striking abstract print. ; Draped, cowl neck. ; Sleeveless design. ; Gathered waist for a feminine fit. ; Straight skirt. ; 100% polyester; Lining: 87% cotton, 13% spandex. ; Machine wash cold, line dry. ; Length: 38 in ; Product measurements were taken using size MD. Please note that measurements may vary by size. ; Keep your clothing clean, in place, and in style with these products! Hollywood's best-kept Fashion Secret: |
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ISDA & CO - Block Dress (Multi) - Apparel $116.99 6pm.com is proud to offer the ISDA & CO - Block Dress (Multi) - Apparel: Bring sophistication and style to your wardrobe with this exceptional dress from ISDA CO. ; Soft, lined, flowing cotton/rayon blend. ; Striking abstract print. ; Draped, cowl neck. ; Sleeveless. ; Gathered waist with tie. ; Straight skirt. ; Dress: 57% cotton, 43% rayon; Lining: 87% cotton, 13% spandex. ; Hand wash cold, line dry. ; Length: 40 in ; Product measurements were taken using size SM. Please note that measurements may vary by size. ; Keep your clothing clean, in place, and in style with these products! Hollywood's best-kept Fashion Secret: |
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ISDA & CO - Galaxy Skirt (Multi) - Apparel $66.99 6pm.com is proud to offer the ISDA & CO - Galaxy Skirt (Multi) - Apparel: Be as beautiful as the night sky in this Galaxy Skirt by Isda Co®. ; Elastic waist. ; All-over celestial print. ; Layered style for eye-catching sophistication. ; Straight hem. ; Shell: 100% polyester. Lining: 87% cotton, 13% spandex. ; Machine wash cold, dry flat. ; Skirt Length: 20 in ; Product measurements were taken using size S. Please note that measurements may vary by size. ; Keep your clothing clean, in place, and in style with these products! Hollywood's best-kept Fashion Secret: |
ISDA says French plan for Greek debt won't trigger CDS event