• Produktbild: Understanding Systemic Risk in Global Financial Markets
  • Produktbild: Understanding Systemic Risk in Global Financial Markets

Understanding Systemic Risk in Global Financial Markets

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Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

16.06.2017

Verlag

John Wiley & Sons

Seitenzahl

272

Maße (L/B/H)

24/16,1/2,9 cm

Gewicht

461 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-119-34850-4

Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

16.06.2017

Verlag

John Wiley & Sons

Seitenzahl

272

Maße (L/B/H)

24/16,1/2,9 cm

Gewicht

461 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-119-34850-4

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: gpsr@libri.de

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  • Produktbild: Understanding Systemic Risk in Global Financial Markets
  • Produktbild: Understanding Systemic Risk in Global Financial Markets
  • Contents
     
    Preface xiii
     
    Acknowledgments xvii
     
    About the Authors xviii
     
    CHAPTER 1
     
    Introduction to Systemic Risk 1
     
    What Is Systemic Risk? 2
     
    Systemic Risk Drivers 3
     
    Why Systemic Risk Must Be Understood, Monitored, and Managed 5
     
    CHAPTER 2
     
    How We Got Here: A History of Financial Crises 9
     
    Common Drivers of Historical Crises 10
     
    Bursting of Asset Bubbles 10
     
    Banking Crises 14
     
    Sovereign Debt Crisis 15
     
    International Contagion 18
     
    CHAPTER 3
     
    The Credit Crisis of 2007-2009 24
     
    Planting the Seeds of a Bubble: The Early 2000s 25
     
    Wall Street's Role 27
     
    The U.S. Government Takeover of the GSEs 30
     
    The Tipping Point: Lehman Brothers' Failure 32
     
    Aftermath of the Credit Crisis 35
     
    Cost of Government Bailouts 37
     
    CHAPTER 4
     
    Systemic Risk, Economic and Behavioral Theories: What Can We Learn? 44
     
    Minsky Three-Part Model 45
     
    Debt Deflation Cycle 46
     
    Benign Neglect 47
     
    Behavioral Theories 48
     
    Risk Aversion Bias 49
     
    Asset Prices 50
     
    Homogeneous Expectations versus Heterogeneity 51
     
    Anchoring Heuristic 52
     
    Excessive Optimism 52
     
    Familiarity Bias 53
     
    Fallacy of Composition 53
     
    Fight or Flight 53
     
    CHAPTER 5
     
    Systemic Risk Data 59
     
    Key Data Attributes 60
     
    Key Policy Changes to Address Data Gaps 60
     
    Data Sources 63
     
    Data Collection Challenges and Remaining Gaps 63
     
    Move Toward Standardization: Legal Entity Identifier Initiative 68
     
    CHAPTER 6
     
    Macroprudential versus Microprudential Oversight 73
     
    A Comparison of Macroprudential versus Microprudential 74
     
    Microprudential Policies 74
     
    Macroprudential Policies 76
     
    A Historical Perspective on Macroprudential Tools 77
     
    Choice of Macroprudential Policy Tools 79
     
    CHAPTER 7
     
    Introduction to the U.S. Regulatory Regime 84
     
    Who Are the Regulators? 84
     
    U.S. Regulatory Approaches 86
     
    Comparison of U.S. versus International Financial Regulatory Regimes 87
     
    Introduction to the Dodd-Frank Act 90
     
    CHAPTER 8
     
    Introduction to International Regulatory Regimes 97
     
    The Financial Stability Board 97
     
    The Basel Accords 99
     
    The European Systemic Risk Board 99
     
    Principles for Financial Market Infrastructures 102
     
    CHAPTER 9
     
    Systemically Important Entities 107
     
    Introduction to Systemically Important Entities 107
     
    Classification of Entities as Systemically Important by the FSOC 108
     
    Bank SIFIs 110
     
    Nonbank SIFIs 110
     
    SIFMUs 112
     
    Globally Systemically Important Banks 112
     
    Total Loss-Absorbing Capacity (TLAC) Requirements 114
     
    Broad Impact of Financial Stability Requirements 117
     
    CHAPTER 10
     
    The Volcker Rule 120
     
    Introduction to the Volcker Rule 120
     
    The Volcker Rule: Details 122
     
    Prohibition of Proprietary Trading 123
     
    Prohibition of Ownership or Sponsorship of Hedge Funds and Private Equity Funds 123
     
    The Volcker Rule and Systemically Risky Nonbank Financial Companies 123
     
    Activities That Are Permitted Despite the Volcker Rule 124
     
    Implementation of the Volcker Rule 125
     
    Volcker Rule: Criticism 126
     
    CHAPTER 11
     
    Counterparty Credit Risk 130
     
    Overview of Derivative Securities 130
     
    Counterparty Exposure