The latest financial crisis highlighted several problems with
credit derivatives and raised questions about the effectiveness of
Credit Rating Agencies' (CRAs) assessment of risks in rating
complex financial products such as Collateralized Debt Obligation
(CDO). Credit derivatives provided a powerful new tool for managing
credit risk that had the potential to facilitate risk-sharing,
enhance the efficiency of risk management and promote market
completeness. Measuring the exposure taken on a credit derivative
contract can be very difficult. As a result market participants
have rely on credit ratings as a source of information to assess
the risk of their derivative transactions. During the latest crisis
the role of the major credit rating agencies have come under
increased scrutiny. This work, after the introduction of credit
risk, provides an overview of credit derivatives instruments and
explain the central role that rating and credit rating agencies
play in the financial markets. Moreover, it highlights the
criticism of credit rating agencies in rating structured finance
products and provide an in-depth view of the CDO rating
methodologies.
General
Imprint: |
Lap Lambert Academic Publishing
|
Country of origin: |
United States |
Release date: |
September 2013 |
First published: |
September 2013 |
Authors: |
Di Carlo Mario
|
Dimensions: |
229 x 152 x 10mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
180 |
ISBN-13: |
978-3-659-45843-9 |
Categories: |
Books >
Business & Economics >
Business & management >
General
|
LSN: |
3-659-45843-0 |
Barcode: |
9783659458439 |
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