There have been significant developments and changes to the world of credit risk management in recent years. Managing Credit Risk, Second Edition will touch upon all these changes, including a new emphasis on actively managing credit risk, the introduction of important regulatory changes, and the impact of hedge funds on the field of credit. In addition, the second edition will include updates and expanded discussions of the following topics: techniques used to control credit risk; historical roots of credit management; a look into the classic industry players (banks, finance companies, insurance companies); and consumer credit models.
Book Details:
- Author: John B. Caouette
- ISBN: 9780470118726
- Year Published: 2008
- Pages: 656
- BISAC: BUS027000, BUSINESS & ECONOMICS/Finance
About the Book and Topic:
There have been significant developments and changes to the world of credit risk management in recent years. Managing Credit Risk, Second Edition will touch upon all these changes, including a new emphasis on actively managing credit risk, the introduction of important regulatory changes, and the impact of hedge funds on the field of credit. In addition, the second edition will include updates and expanded discussions of the following topics: techniques used to control credit risk; historical roots of credit management; a look into the classic industry players (banks, finance companies, insurance companies); and consumer credit models.
Credit is the expectation of a sum of money within some limited time. Credit risk is the chance that expectation will not be met. In recent years market professionals, banks, and other institutions which have credit risk, created new instruments, like derivatives, by which to sell or trade this risk. This commercialization of credit risk has created the credit markets. These markets have grown exponentially, creating the need for information and an analytic foundation. Even more recently, there have been developments to the size, liquidity and variety of the credit markets, including credit derivatives. Everything is expanding enormously, and Managing Credit Risk, Second Edition will provide practitioners with the resources they need to keep up with such changes to the field of credit.
Proven Track Record. The first edition of Managing Credit Risk has been very successful. It has sold more than 14,000 copies in the eight years since publication. First Edition Considered an Essential Text. Managing Credit Risk has earned a reputation for being an essential volume for bankers, regulators, and financial market professionals within the field of credit. It gathers in one volume the mass of information and analytical frameworks on credit risk and credit markets. Timely Revision. Since 1998, when the first edition was published, much has changed within the world of credit risk management. The authors will fully update and revise the text, and include new information regarding the hedge fund boom, changes to rating agencies, the effects of poor corporate governance, and much more.
About the Author
John B. Caouette (San Francisco, CA ) is the former Vice Chairman of MBIA Insurance Corporation, where he worked from 1988-2004, and is currently Chairman of Channel Capital Group, a European based Credit Derivative Products Company. Edward I. Altman (New York, NY), PhD, MBA is the Max L. Heine Professor of Finance at the Stern School of Business, New York University. Since 1990, he has directed the research effort in Fixed Income and Credit Markets at the NYU Salomon Center and is now Vice-Director. Previously, Altman chaired the Stern School’s MBA Program for 12 years. He received his MBA and PhD in Finance from the University of California, Los Angeles. Paul Narayanan (Bryn Mawr , PA) is Director of Credit Portfolio Analytics at American International Group, Inc., New York . He has been involved with credit risk management for more than two decades and in the development and deployment of analytical solutions for credit issues, working in major institutions here and abroad, which have included the predecessors of JP Morgan Chase, Bank of America, and Mellon bank. Robert W.J. Nimmo (Portland, OR) is the former Group Risk Director of Barclays PLC, where he was responsible for all the risk management activities of the Group covering credit, market, operational risk and compliance. He was also the Chief Risk Officer for Wachovia Corporation (2000-2001) and for Westpac Banking Corporation (1993-2000).