A Brief History of Valuation: A Personal View
Tanveer Bhatti
Introduction to 'Managing Illiquid Assets'
A Brief History of Valuation: A Personal View
Case Study: Funding and Liquidity Considerations in the US Residential Mortgage Market
Foundations of Liquidity Risk Management
Valuation of Illiquid Assets: Third Party Sources
A Model for Estimating the Liquidity Valuation Adjustment on OTC Derivatives
Global Valuation and Dynamic Risk Management
A Regulatory Perspective on Prudent Valuation and Best Practice in Product Control
Beyond Valuation: Basel III and Its Impact on Managing Illiquid Assets
Model Risk, or the Risk of Using Models
Stress Testing in Financial Institutions
Case Study: Risk Governance and Management Practice of the Hana Financial Group
The end of the first decade of the 21st century witnessed a considerable development in the concept of fair value and of its measurement. This development came mostly from the accounting community, and it is a laudable achievement. It provides an underpinning of the galaxy of valuation issues, which benefit from a more technically informed dialogue.
Just as that other well-known galaxy, the Milky Way has a black hole at its centre, the nucleus of our valuation galaxy is the elusive concept of model risk. Understanding valuation from all angles, including how it is affected by model risk, is a vital aspect of managing illiquid assets. Establishing a competent valuation function comprising experienced staff that appropriately challenge the valuation assumptions made by the front office is an essential prerequisite to the understanding required.
This chapter is the story of the emancipation of the valuation function as a distinct role, its decision-making authority and the people performing this vital role in banks. The question is “did this emancipation
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net