The definitive and timeless guide to the principles of banking and finance, addressing and meeting the challenges of competition, strategy, regulation and the digital age.
Moorad Choudhry Anthology compiles the best of renowned author Professor Moorad Choudhry’s incisive writings on financial markets and bank risk management, together with new material that reflects the legislative changes in the post-crisis world of finance and the impact of digitization and global competition. Covering the developments and principles of banking from the 1950s to today, this unique book outlines the author’s recommended best practices in all aspects of bank strategy, governance and risk management, including asset-liability management, liquidity risk management, capital planning, Treasury risk, and corporate framework, and describes a ‘vision of the future’ with respect to a sustainable bank business model. You will gain the insight of a global authority on topics essential to retail, corporate, and investment/wholesale banking, including strategy, risk appetite, funding policies, regulatory requirements, valuation, and much more. The companion website is a goldmine for senior practitioners that provides templates that can applied in virtually any bank, including policy documents, pricing models, committee terms of reference, teaching aids and learning tools including Power Point slides and spreadsheet models. These facilitate a deeper understanding of the subject and the requirements of the senior executive, making this book an ideal companion for practitioners, graduate students and professional students alike.
The intense demand for knowledge and expertise in asset-liability management, liquidity, and capital management has been driven by the regulatory challenges of Basel III, the European Union’s CRDIV, the Volcker Rule, Dodd-Frank Act, and a myriad of other new regulations. This book meets that need by providing you with a complete background and modern insight on every aspect of bank risk management.
- Re-engage with timeless principles of finance that apply in every market and which are the drivers of principles of risk management
- Learn strategic asset liability management practices that suit today’s economic environment
- Adopt new best practices for liquidity models and choosing the appropriate liquidity risk management framework
- Examine optimum capital and funding model recommendations for corporate, retail, and investment/wholesale banks
- Dig deeper into derivatives risk management, balance sheet capital management, funding policy, and more
- Apply best-practice corporate governance frameworks that ensure a perpetual and viable robust balance sheet
- Adopt strategy formulation principles that reflect the long-term imperative of the banking business
In the 21st century more than ever banks need to ‘re-learn’ traditional risk management principles and apply them every day. Every bank in the world needs to be up to speed on these issues, and Anthology from Professor Moorad Choudhry is the answer to this new global policy response.
Table of Content
Foreword xvii
Paul Fisher
Foreword xxi
Professor Alexander Lipton
Foreword xxiii
Rundheersing Bheenick
Preface xxv
Acknowledgments xxxi
About the Author xxxix
List of Extract Book Titles xli
Part I Principles Of Banking, Finance And Financial Products 3
Chapter 1 A Primer on Banking, Finance and Financial Instruments 5
Chapter 2 Derivative Instruments and Hedging 121
Chapter 3 The Yield Curve 273
Chapter 4 Eurobonds, Securitisation and Structured Finance 345
Part II Bank Regulatory Capital and Risk Management 407
Chapter 5 Banks and Risk Management 409
Chapter 6 Banks and Credit Risk 465
Chapter 7 Understanding and Managing Operational Risk 523
Chapter 8 Regulatory Capital and the Capital Adequacy Assessment Process 541
Chapter 9 Financial Statements, Ratio Analysis, and Credit Analysis 617
Part III Bank Treasury and Strategic Asset–Liability Management 653
Chapter 10 The Bank Treasury Operating Model and ALCO Governance Process Best-Practice 655
Chapter 11 Bank Asset–Liability Management (ALM) and “Strategic ALM” 697
Chapter 12 Liquidity and Funding: Policy, Management, and Risk Management 795
Chapter 13 Market Risk and Non-Traded Market Risk (Interest-Rate Risk in the Banking Book) 971
Chapter 14 The Future of Bank Treasury and Balance Sheet Risk Management 1033
Chapter 15 Regulatory Reporting and Principles of Policy Documentation 1055
Part IV The Future of Banking: Strategy, Governance and Culture 1087
Chapter 16 Strategy Setting: Principles for Sustained Bank Viability 1091
Chapter 17 Present and Future Principles of Governance and Culture 1147
Chapter 18 Present and Future Principles of Banking: Business Model and Customer Service 1187
Part V Case Studies: Analysis, Coherent Advice and Problem Solving 1211
Chapter 19 Case Studies: Analysis, Coherent Advice and Problem Solving 1213
Chapter 20 Guide to the Website 1245
Afterword 1251
Index 1253
About the author
PROFESSOR MOORAD CHOUDHRY lectures on the MSc Finance programme at University of Kent Business School. He was previously Treasurer, Corporate Banking Division at The Royal Bank of Scotland.
Moorad is a Fellow of the Chartered Institute for Securities & Investment, a Fellow of the London Institute of Banking and Finance, and a Fellow of the Institute of Directors. He was born in Bangladesh, and lives in Surrey, England.
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