Credit Portfolio Management: A Practitioner's Guide to the Active Management of Credit Risks [Paperback]

Credit Portfolio Management is a topical text on approaches to the active management of credit risks. The book is a valuable, up to date guide for portfolio management practitioners. Its content comprises of three main parts: The framework for managing credit risks, Active Credit Portfolio Management in practice and Hedging techniques and toolkits.  The Case for Credit Portfolio Management Credit Risk Strategies What if: Credit Risk Stress Testing Evolution of Portfolio Management Business Models Accounting Complexity and Implications Regulatory capital managment under Basel II CDS: Hedging of Issuer and Counterparty Risk Loan Credit Derivatives, Sub-participations and Credit Indices Hedge Strategies for Baskets, Swaptions and Macro Hedges  

'Credit portfolio management is at the heart of the current banking crisis, and this book offers practitioners a complete and comprehensive guide to the subject. Various case studies add a real world element to the theory presented in the book while also offering in-depth instruction on how to avoid the pitfalls of active credit risk management.'

- Tim Jennison, Managing Director, Morgan Stanley, UK

'Tackling a complex subject, this book makes it greatly accessible. Its non-technical, real life orientation from actual developments makes it absolutely useful for practitioners. The book's structure along the lines of the credit value chain ensures that all key areas are well covered, providing an insightful, updated, and comprehensive guide.'

- Luis Maglanoc, CFA. Global Head of Credit Research, UniCredit Bank AG, Germany

'Michael Huenseler gives a comprehensive overview of all relevant aspects of credit portfolio management from a bank's perspective. His detailed and articulate explanation of credit default swaps as hedging instrument, highlighted through various practical examples from recent experience, provide valuable insight notlcÌ