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Palgrave Macmillan

Liquidity Risk

Managing Asset and Funding Risks

  • Book
  • © 2005

Overview

Authors:
  1. Erik Banks
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Part of the book series: Finance and Capital Markets Series (FCMS)

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xxii
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  2. Elements of Corporate Liquidity

    1. Front Matter

      Pages 1-1
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    2. Liquidity Risk Defined

      • Erik Banks
      Pages 3-13

    3. Liquidity and Financial Operations

      • Erik Banks
      Pages 14-35

    4. Sources of Liquidity

      • Erik Banks
      Pages 36-59

  3. Liquidity Problems

    1. Front Matter

      Pages 61-61
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    2. Funding Liquidity Risk

      • Erik Banks
      Pages 63-77

    3. Asset Liquidity Risk

      • Erik Banks
      Pages 78-91

    4. Liquidity Spirals and Financial Distress

      • Erik Banks
      Pages 92-104

    5. Case Studies in Liquidity Mismanagement

      • Erik Banks
      Pages 105-126

  4. Managing Liquidity Risks

    1. Front Matter

      Pages 127-127
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    2. Measuring Liquidity Risk

      • Erik Banks
      Pages 129-155

    3. Controlling Liquidity Risk

      • Erik Banks
      Pages 156-188

    4. Liquidity Crisis Management

      • Erik Banks
      Pages 189-200

    5. Summary: Toward Active Liquidity Risk Management

      • Erik Banks
      Pages 201-210

  5. Back Matter

    Pages 211-230
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Keywords

About this book

Much critical attention has been given in recent years to market and credit risks, which have a significant effect on corporate and financial operations and must be understood and managed with care. While these areas have rightly received considerable scrutiny, another critical dimension of financial risk - based on corporate liquidity - has been largely overlooked. Liquidity risk is the risk of loss arising from an inability to quickly realise asset value or obtain funding and can be damaging if not properly considered or actively managed. Lack of liquidity can lead to large losses in asset/liability portfolios and off balance sheet activities and in extreme cases can trigger financial distress and insolvency. Liquidity Risk is a comprehensive treatment of the topic focusing on the nature of the risk, problems that arise in asset and funding liquidity and mechanisms that can be developed to monitor, measure and control such risks.

About the author

ERIK BANKS has held senior risk management positions at several global financial institutions, including Partner and Chief Risk Officer of Bermuda reinsurer XL Capital's derivatives subsidiary, and Managing Director of Corporate Risk Management at Merrill Lynch, where he spent 13 years managing credit risk, market risk and risk analytics/technology teams in Tokyo, Hong Kong, London and, latterly, New York. He received early bank training at Citibank and Manufacturers Hanover, and is the author of a dozen books on risk management, emerging markets, derivatives, alternative risk transfer, merchant banking, and electronic finance.

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