Practical credit derivatives

Author: Neil Kneale (USA), translated by Zhang Yunfeng et al.
Publisher:
Publish Date: 2002-01-01
Features: The field of derivative products is constantly evolving, encompassing not only securities, commodities, and interest rates but even weather! However, before the emergence of credit derivatives, any effort to separate the credit risk of bonds or loans from interest rate risk, market risk, or other risks was, even if not impossible, extremely difficult. In this book, Dr. Israel Kneale, one of the world's leading authorities on new options and financial engineering in the field of credit derivatives, goes beyond the basic knowledge and theory of credit derivatives, explaining their practical applications in daily financial engineering. This comprehensive introduction, with its detailed explanations and case studies, immerses readers in the subject. The content includes:
- The structure and mechanisms of credit derivatives
- The creation and valuation of structured credit derivatives
- Trading and hedging strategies for credit derivatives
- Lightly exploring related regulatory and legal issues
- The similarities of credit derivatives with other financial instruments (such as repo transactions)
- When to use mortgage bonds or mortgage loan debt derivatives and the reasons why
- Issues related to regulatory capital and economic capital
- How to effectively hedge risks using credit derivatives in today's volatile emerging markets