Download Book Managing Illiquid Assets : Perspectives and Challenges
PDF by Savita, Verma
Information
Format: PDF Publisher: Risk Books Publication Date of the Electronic Edition: 2012
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ISBN: 9781906348410, 9781908823915
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Description
Valuation and management of illiquid assets is an ongoing concern within financial institutions, even during so-called 'normal' low volatility market conditions. When markets are volatile, going through a liquidity squeeze, or during a full blown credit crisis, the concern can quickly morph into a full time preoccupation. In this new book, the authors cover several aspects of valuation and the on-going management of illiquid assets that contribute to this preoccupation, including: Perspectives and challenges of liquidity risk management; External methods and approaches available in the literature for valuing illiquid assets; Liquidity issues relating to the US mortgage debt market; Principal regulatory responses to the financial crisis on liquidity risk management; Key themes relating to liquidity risk in the Basel III regime; A new mathematical model for incorporating a liquidity value adjustment for over the counter contracts; Risk management best practices; and The limitations of existing risk management systems with a view to the future of risk management. By bringing together the perspective of experts and practitioners on managing these high-risk, and frequently complex, financial assets, all of the key issues related to illiquid asset valuation are explored.
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