000			05407nam a2200217 4500
003			OSt
005			20180412092218.0
008			180103b xxu||||| |||| 00| 0 eng d
020			_a9781119348504
040			_c
082			_a332.0415 _bGOT
100			_aGottesman, Aron _924207
245			_aUnderstanding Systemic Risk in Global Financial Markets
260			_bJohn and Wiley Sons, Inc. _c2017 _aNew Jersey
300			_a252p
440			_aWiley Finance Series _n1935 _924208
500			_aPreface xiii Acknowledgments xvii About the Authors xviii CHAPTER 1 Introduction to Systemic Risk What Is Systemic Risk? Systemic Risk Driver Why Systemic Risk Must Be Understood, Monitored, and Manage CHAPTER 2 How We Got Here: A History of Financial Crises Common Drivers of Historical Crises Bursting of Asset Bubbles Banking Crises Sovereign Debt Crisis International Contagion CHAPTER 3 The Credit Crisis of 2007–2009 Planting the Seeds of a Bubble: The Early 2000s Wall Street’s Role The U.S. Government Takeover of the GSEs The Tipping Point: Lehman Brothers’ Failure Aftermath of the Credit Crisis Cost of Government Bailouts CHAPTER 4 Systemic Risk, Economic and Behavioral Theories: What Can We Learn? Minsky Three-Part Model Debt Deflation Cycle Benign Neglect Behavioral Theories Risk Aversion Bias Asset Prices Homogeneous Expectations versus Heterogeneity Anchoring Heuristic Excessive Optimism Familiarity Bias Fallacy of Composition Fight or Flight CHAPTER 5 Systemic Risk Data Key Data Attributes Key Policy Changes to Address Data Gaps Data Sources Data Collection Challenges and Remaining Gaps Move Toward Standardization: Legal Entity Identifier Initiative CHAPTER 6 Macroprudential versus Microprudential Oversight A Comparison of Macroprudential versus Microprudential Microprudential Policies Macroprudential Policies A Historical Perspective on Macroprudential Tools Choice of Macroprudential Policy Tools CHAPTER 7 Introduction to the U.S. Regulatory Regime Who Are the Regulators? U.S. Regulatory Approaches Comparison of U.S. versus International Financial Regulatory Regimes Introduction to the Dodd-Frank Act CHAPTER 8 Introduction to International Regulatory Regimes The Financial Stability Board The Basel Accords The European Systemic Risk Board Principles for Financial Market Infrastructures CHAPTER 9 Systemically Important Entities Introduction to Systemically Important Entities Classification of Entities as Systemically Important by the FSOC Bank SIFIs Nonbank SIFIs SIFMUs Globally Systemically Important Banks Total Loss-Absorbing Capacity (TLAC) Requirements Broad Impact of Financial Stability Requirements CHAPTER 10 The Volcker Rule Introduction to the Volcker Rule The Volcker Rule: Details Prohibition of Proprietary Trading Prohibition of Ownership or Sponsorship of Hedge Funds and Private Equity Funds The Volcker Rule and Systemically Risky Nonbank Financial Companies Activities That Are Permitted Despite the Volcker Rule Implementation of the Volcker Rule Volcker Rule: Criticism CHAPTER 11 Counterparty Credit Risk Overview of Derivative Securities Counterparty Exposure How Counterparty Credit Risk Is Managed Collateral Netting Central Counterparties Counterparty Credit Risk and Systemic Risk CHAPTER 12 The Dodd-Frank Act and Counterparty Credit Risk Measuring Counterparty Exposure in the OTC Derivatives Market Overview of Historical Data The Evolution of the U.S. Regulatory Approach toward OTC Derivatives Key Provisions of Title VII of the Dodd-Frank Act Mandatory Clearing Execution Platforms and Data Repositories Registration Requirements The Push-Out Rule The End User Exemption Criticism of Title VII of the Dodd-Frank Act CHAPTER 13 The Basel Accords What Are the Basel Accords? The Approach of the Basel Accords Basel I Basel II Pillar 1: Minimum Capital Requirements Pillar 2: Supervisory Review Pillar 3: Market Discipline Basel II.5 Basel III The Continuing Evolution of the Basel Accords CHAPTER 14 Lender of Last Resort Lender of Last Resort Concept Henry Thornton, Walter Bagehot and Alternative Views The Fed’s Role in the Great Depression The Credit Crisis of 2007–2009 CHAPTER 15 Interconnectedness Risk A Case Study of Interconnectedness Interconnectedness Categories The Depository Trust & Clearing Corporation Post-Crisis Regulatory View of Interconnectedness Basel Committee on Banking Supervision Office of Financial Research CPMI IOSCO Principles An Approach to Analyzing Interconnectedness Risk The Depository Trust & Clearing Corporation CHAPTER 16 Conclusion: Looking Ahead It’s Not a Question of If, but When, Where, and How A Summary of Global Surveys Sources of Systemic Risk Preparing for the Next Crisis Appendix: Systemic Risk Models Structural versus Reduced-Form Credit Models Contingent Claims and Default Models Merton versus Garch Studies in Support of Merton Macroeconomic Measures Probability Distribution Measures Illiquidity Measures Counterparty Risk Measures Behavioral Models Solutions to the Knowledge Check Questions Index
600			_aFinancial risk management - Financial crises. _924209
700			_aLeibrock, Michael _924210
942			_2ddc _cLB _k332.0415 _mGOT
999			_c110271 _d110271