HEDGING INTREST-RATE EXPOSURES Księgarnia

One of the most specialized volumes in the Interest-Rate Series, Hedging Interest-Rate Lxposures gently introduces the reader to the world of hedging policy and its likely effects on trading policy and company results.

Author Brian Coyle has avoided the conventional approach to this subject that often involves a high degree of technical explanation and arcane theories to support conyoluted supposition. Here, by using both proven and progressive examples to illustrate the author's exposition, along with everyday language, the message comes through at a level that will be appreciated by those new to the business. Experienced practitioners will also benefit from rehearsing their approach to this most interesting of subjects.

Structural hedging and its impact on cash inflows and outflows, the avoidance of excessive borrowing and surplus funding, and asset matching to avoid foreign-currency exposure, arę thoroughly examined and remedies and avoiding action suggested. Likewise, the exceptional arguments against Structural hedging arę rehearsed.

Coverage also includes hedging with derivative instruments. This topic covers the separate but complementary market that has been formed by banks and futures exchanges where only interest flows arę exchanged, and there is a fuli explanation of why it has assumed the role of forward/forward transactions so comprehensively.

Contents

1. Introduction

2. Interest-Rate Risk

3. Identifying Interest-Rate Exposures

4. Hedging Policy

5. Structural Hedging

6. Hedging with Derivative Instruments

7. Forward Rate Agreements (FRAs)

8. Interest-Rate Futures

9. Interest-Rate Options

10. Interest-Rate Swaps

11. Accounting Aspects of Interest-Rate Risk Management

Appcndix: Duration and Immunizing a Bond Portfolio

Glossary

Index

154 pages, Hardback

Po otrzymaniu zamówienia poinformujemy,
czy wybrany tytuł polskojęzyczny lub anglojęzyczny jest aktualnie na półce księgarni.