The Credit Risk of Complex Derivatives

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The updated edition addresses significant changes in the derivatives landscape since 1997, including shifts in the operating environment, product characteristics, and risk management techniques. It features new chapters on derivative losses, risk governance, regulatory initiatives, and credit risk portfolio models. Targeting clients, intermediaries, and regulators, the book emphasizes risk education, management, and disclosure, aiming to enhance the security, transparency, efficiency, and benefits of participating in derivatives.