Asian values – Aaron Woolner column

Asian values

aaron-woolner

At first glance trade finance, liquidity risk management and credit valuation adjustment (CVA) appear to have little in common but all three are unhappy members of a group of measures in the latest version of the Basel accord which don’t fit the Asian banking landscape. The many moving parts of CVA make it a complex beast but the short explanation of the issue is that with non-existent, or deeply illiquid, credit default swap markets, it is either impossible or pointless to hedge out the credit

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