Managing Credit Risk, Second Edition opens with a detailed discussion of todays global credit marketstouching on everything from the emergence of hedge funds as major players to the growing influence of rating agencies. After gaining a firm understanding of these issues, youll be introduced to some of the most effective credit risk management tools, techniques, and vehicles currently available. If you need to keep up with the constant changes in the world of credit risk management, this book will show you how.
About the Authors xi
Introduction xv
Chapter 1 Credit Risk: The Great Challenge For The Global Economy 1
Chapter 2 Credit Culture 23
Chapter 3 Classic Industry Players: Banks, Savings Institutions, Insurance: Companies, Finance Companies, and Special Purpose Entities 41
Chapter 4 The Portfolio Managers: Investment Managers, Mutual Funds, Pension Funds, and Hedge Funds 59
Chapter 5 Structural Hubs: Clearinghouses, Derivative Product Companies, and Exchanges 69
Chapter 6 The Rating Agencies 81
Chapter 7 Classic Credit Analysis 103
Chapter 8 Asset-Based Lending and Lease Finance 117
Chapter 9 Introduction to Credit Risk Models 127
Chapter 10 Credit Risk Models Based upon Accounting Data and Market Values 139
Chapter 11 Corporate Credit Risk Models Based on Stock Price 181
Chapter 12 Consumer Finance Models 201
Chapter 13 Credit Models for Small Business, Real Estate, and Financial Institutions 223
Chapter 14 Testing and Implementation of Credit Risk Models 237
Chapter 15 About Corporate Default Rates 251
Chapter 16 Default Recovery Rates and LGD in Credit Risk Modeling and Practice 277
Chapter 17 Clcy
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