The Handbook of Credit
Derivatives
The First Encyclopedic
Reference-For Both Financial Managers and Investors-On the Exploding Yet Uncharted
World of Credit Derivatives
From an operational
perspective, credit derivatives-securities that permit financial managers and investors
to shield themselves from the risk of issuer default-are still in their infancy. But
from the perspectives of utility and value, these instruments have become a vital
insurance policy in today's risk-sensitive financial environment.
The Handbook of Credit
Derivatives provides in-depth, expert analysis of these multi-faceted financial
structures, written by the most influential figures in this still-developing field.
Starting with a comprehensive overview, this encyclopedic reference goes on to explain:
Efficient strategies for
profitably using credit derivatives as either investment or risk management tools
Specific challenges and
solutions in the pricing of credit derivatives, from the perspectives of both buyer and
issuer
Techniques to estimate the
probability that a corporate credit will default
Up-to-the-minute accounting
and tax practices for recognizing and reporting transactions
Whether you are a
professional risk manager seeking to hedge your risk exposure, or a cutting-edge investor
looking for new and profitable markets, the guidance of the industry's leading experts in
The Handbook of Credit Derivatives will explain every facet-and answer any questions you
may have-on these dynamic new securities.
For financial professionals,
credit derivatives are uniquely powerful tools to manage credit risk-tools that are less
costly and more effective than traditional methods. Investors, on the other hand,
appreciate the efficiency with which they can use credit derivatives to easily access
different sectors of the credit markets. Regardless of your perspective. The Handbook of
Credit Derivatives will give you expert knowledge and insights into credit derivatives,
arm you with the latest professional tactics and techniques for pricing and evaluating
these versatile securities, and help you get your arms around today's most exciting,
rewarding risk management and investment tool.
About the Authors
Jack dark Francis, Ph.D., is
a professor of economics and finance at Bernard M. Baruch College in New York City. Among
his many published books. Dr. Francis was co-editor with J. Gregg Whittaker and William W.
Toy of The Handbook of Equity Derivatives. His articles appear regularly in professional
journals.
Joyce A. Frost heads the
Marketing Group for Chase's Global Credit Derivatives Group in New York. She has been
marketing fixed income derivatives products for more than 12 years, and has been a guest
speaker on derivatives throughout the United States, Europe, and Latin America.
J. Gregg Whittaker, Ph.D., is
a managing director and head of Credit Derivatives for Chase Securities, Inc. Dr.
Whittaker previously built and managed the credit derivatives department for Chemical
Securities. He co-edited The Handbook of Equity Derivatives with Jack dark Francis and
William W. Toy.
394pp