An Introduction to Value-at-Risk

Includes a CD-ROM that contains Excel workbooks and a Matlab manual and software. Covers the subject without advanced or exotic material.

The most cutting-edge read on the pricing, modeling, and management of credit risk available The rise of credit risk measurement and the credit derivatives market started in the early 1990s and has grown ever since. For many professionals, understanding credit risk measurement as a discipline is now more important than ever. Credit Risk Measurement, Second Edition has been fully revised to reflect the latest thinking on credit risk measurement and to provide credit risk professionals with a solid understanding of the alternative approaches to credit risk measurement. This readable guide discusses the latest pricing, modeling, and management techniques available for dealing with credit risk. New chapters highlight the latest generation of credit risk measurement models, including a popular class known as intensity-based models. Credit Risk Measurement, Second Edition also analyzes significant changes in banking regulations that are impacting credit risk measurement at financial institutions. With fresh insights and updated information on the world of credit risk measurement, this book is a must-read reference for all credit risk professionals. Anthony Saunders (New York, NY) is the John M. Schiff Professor of Finance and Chair of the Department of Finance at the Stern School of Business at New York University. He holds positions on the Board of Academic Consultants of the Federal Reserve Board of Governors as well as the Council of Research Advisors for the Federal National Mortgage Association. He is the editor of the Journal of Banking and Finance and the Journal of Financial Markets, Instruments and Institutions. Linda Allen (New York, NY) is Professor of Finance at Baruch College and Adjunct Professor of Finance at the Stern School of Business at New York University. She also is author of Capital Markets and Institutions: A Global View (Wiley: 0471130494). Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management, asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.

A comprehensive introduction to the key concepts of fixed income analytics The First Edition of Introduction to Fixed Income Analytics skillfully covered the fundamentals of this discipline and was the first book to feature Bloomberg screens in examples and illustrations. Since publication over eight years ago, the markets have experienced cathartic change. That's why authors Frank Fabozzi and Steven Mann have returned with a fully updated Second Edition. This reliable resource reflects current economic conditions, and offers additional chapters on relative value analysis, value-at-risk measures and information on instruments like TIPS (treasury inflation protected securities). Offers insights into value-at-risk, relative value measures, convertible bond analysis, and much more Includes updated charts and descriptions using Bloomberg screens Covers important analytical concepts used by portfolio managers Understanding fixed-income analytics is essential in today's dynamic financial environment. The Second Edition of Introduction to Fixed Income Analytics will help you build a solid foundation in this field.

A great write-up on the art of banking. Essential reading for anyone working in finance. Dan Cunningham, Senior Euro Cash & OBS Dealer, KBC Bank NV, London «Focused and succinct review of the key issues in bank risk management.» Graeme Wolvaardt, Head of Market Risk Control, Europe Arab Bank plc, London The importance of banks to the world's economic system cannot be overstated. The foundation of consistently successful banking practice remains efficient asset-liability management and liquidity risk management. This book introduces the key concepts of banking, concentrating on the application of robust risk management principles from a practitioner viewpoint, and how to incorporate these principles into bank strategy. Detailed coverage includes: Bank strategy and capital Understanding the yield curve Principles of asset-liability management Effective liquidity risk management The role of the bank ALM committee Written in the author's trademark accessible style, this book is a succinct and focused analysis of the core principles of good banking practice.

Covers the hottest topic in investment for multitrillion pension market and institutional investors Institutional investors and fund managers understand they must take risks to generate superior investment returns, but the question is how much. Enter the concept of risk budgeting, using quantitative risks measurements, including VaR, to solve the problem. VaR, or value at risk, is a concept first introduced by bank dealers to establish parameters for their market short-term risk exposure. This book introduces VaR, extreme VaR, and stress-testing risk measurement techniques to major institutional investors, and shows them how they can implement formal risk budgeting to more efficiently manage their investment portfolios. Risk Budgeting is the most sophisticated and advanced read on the subject out there in the market.

A practical primer to the modern banking operation Introduction to Banking, Second Edition is a comprehensive and jargon-free guide to the banking operation. Written at the foundational level, this book provides a broad overview of banking to give you an all-around understanding that allows you to put your specialty work into context within the larger picture of your organization. With a specific focus on risk components, this second edition covers all key elements with new chapters on reputational risk, credit risk, stress testing and customer service, including an updated chapter on sustainability. Practical material includes important topics such as the yield curve, trading and hedging, asset liability management, loan origination, product marketing, reputational risk and regulatory capital. This book gives you the context you need to understand how modern banks are run, and the key points operation at all levels. Learn the critical elements of a well-structured banking operation Examine the risk components inherent in banking Understand operational topics including sustainability and stress testing Explore service-end areas including product marketing and customer service Banks continue to be the heart of the modern economy, despite the global financial crisis —they have however become more complex. Multiple layers and a myriad of functions contribute to the running of today's banks, and it's critical for new and aspiring bankers to understand the full breadth of the operation and where their work fits in. Introduction to Banking, Second Edition provides an accessible yet complete primer, with emphasis on the areas that have become central to sustainable banking operation.

This new textbook is a lively and highly accessible introduction to philosophy. From the fundamental issues of philosophical thought to the latest theories in the philosophy of mind, An Introduction to Philosophy provides clear and incisive discussion of the key areas of philosophy for students new to the subject. Provides the tools new students need to tackle philosophical arguments themselves Clearly presents and explains contemporary issues and current debates Covers the key areas of philosophy, including perception, epistemology, metaphysics, the mind, philosophy of religion, ethics and political philosophy Contains numerous learning features such as introductions, summaries, questions and further reading An Introduction to Philosophy is an ideal text for AS level, A level and first-year undergraduate students or anyone studying the subject for the first time.

This fully revised textbook is a new edition of Ronald Wardhaugh’s popular and accessible An Introduction to Sociolinguistics. Provides an accessible, comprehensive introduction to sociolinguistics that reflects new developments in the field. Fully revised, with 130 new and updated references to bring the book completely up-to-date. Includes suggested readings, discussion sections, and exercises. Features increased emphasis on issues of identity, solidarity, and power Discusses topics such as language dialects, pidgins and creoles, codes, bilingualism, speech communities, variation, words and culture, ethnographies, solidarity and politeness, talk and action, gender, disadvantage, and planning. Designed for introductory and post-introductory students, and ideal for courses including introduction to sociolinguistics, aspects of sociolinguistics, and language and society.

An Introduction to Ministry is a comprehensive and ecumenical introduction to the craft of ministry for ministers, pastors, and priests that make up the mainline denominations in the United States. Ecumenically-focused, It offers a grounded account of ministry, covering areas such as vocation, congregational leadership, and cultivation of skills for an effective ministry. Covers the key components of the M.Div. curriculum, offering a map and guide to the central skills and issues in training Explores the areas of vocation, skills for ministry, and issues around congregational leadership Each topic ends with an annotated bibliography providing an indispensable gateway to further study Helps students understand both the distinctive approach of their denomination and the relationship of that approach to other mainline denominations Advocates and defends a generous understanding of the Christian tradition in its openness and commitment to broad conversation

Thoroughly updated and revised, An Introduction to Sociolinguistics, 7th Edition presents a comprehensive and fully updated introduction to the study of the relationship between language and society. Building on Ronald Wardhaugh’s classic text, co-author Janet Fuller has updated this seventh edition throughout with new discussions exploring language and communities, language and interaction, and sociolinguistic variation, as well as incorporating numerous new exercises and research ideas for today’s students. Taking account of new research from the field, the book explores exciting new perspectives drawn from linguistic anthropology, and includes new chapters on pragmatics, discourse analysis, and sociolinguistics and education. With an emphasis on using examples from languages and cultures around the world, chapters address topics including social and regional dialects, multilingualism, discourse and pragmatics, variation, language in education, and language policy and planning. A new companion website including a wealth of additional online material, as well as a glossary and a variety of new exercises and examples, helps further illuminate the ideas presented in the text. An Introduction to Sociolinguistics, 7th Edition continues to be the most indispensable and accessible introduction to the field of sociolinguistics for students in applied and theoretical linguistics, education, and anthropology.