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What is Asset‐liability Management about?

Asset-liability Management T he transfer and management of risk are the fundamental value drivers of the financial industry. Balance-sheet strength and risk management are the key capabilities of a successful financial institution model. Asset-liability management (ALM) is the discipline within financial institutions to manage and optimise the balance sheet with its funding requirements, as well as managing and mitigating risk and respective exposure. It is usually organised as a separate function within the finance and risk department and works across the lending and trading activities. This chapter discusses the transfer of risk with its core principles and pricing fundamentals. It covers the discipline of financial engineering with the implications for risk and capital management as well as regulations. The introduction of different financial instruments and their innovative journey over the last 20 years provide the background to understand the regulatory environment that emerged after the Global Financial Crisis (GFC) under the umbrella of the Basel accord. RISK TRANSFER Risk transfer is the fundamental concept and core function that drives financial institutions. Risk by itse

Publisher

Wiley

Published

2022

Language

EN