Turbulence, Crises and Risk Management

Salih Neftci

Chapter 23 in Financial Intermediation in the 21st Century, 2001, pp 220-235 from Palgrave Macmillan

Abstract: Abstract Balance sheets are opaque concepts. In more than one way, the individual instruments in a balance sheet have no meaning by themselves. What is more, most large financial institutions carry a very large number of diverse instruments on their balance sheets, in many different branches and subsidiaries around the world. Even a careful analysis of financial tables and balance sheets will not show the exact positions and exposures the financial institution has taken. This is even before one can ask how one would value these positions.

Keywords: Risk Management; Balance Sheet; Credit Risk; Stochastic Volatility; Market Risk (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1057/9780230294127_23

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