Asset/Liability Management of Financial Institutions - Maximizing Shareholder Value Through Risk-Conscious Investing (Electronic book text)

As the first-ever definitive guide to Asset/Liability Management (ALM) across financial institutions, this book is essential in developing consistent frameworks for risk management. Leveraging the experience of 38 senior industry practitioners, it provides a unique and practical perspective on the practice of ALM covering:The management, techniques and practices of ALM in financial institutionsThe challenges facing depository institutions, the insurance industry, pension and mortgage providersThe regulatory and accounting aspects of ALM options and decisionsFor financial and corporate executives, treasurers, portfolio managers, investment bankers, traders, actuaries, modelers, academics and regulators, this book brings you face-to-face with the leading experts and is a valuable reference for anyone involved in the business of ALM at this critical juncture.This book has been sited as a reference in the Basel Committee on Banking Supervision's Consultative Document: The Application of Basel II to Trading Activities and the Treatment of Double Default Effects (April 2005)."Building upon his acclaimed text on risk management, Leo Tilman has assembled an exceptional group of contributors to create an authoritative volume on asset/liability management. Finance professionals, regulators, investors, and academics now have a definitive reference on perspectives and practices of leading institutions." Tetsuya Miyagawa, General Manager, International Investment Department, Nippon Life Insurance Company"ALM plays a central role in uniting corporate finance and risk management. Grounded in practical realities, this book builds an intellectual bridge between ideas and tools critical for players across the financial industry." Professor Harry H. Panjer, President, Society of Actuaries"A timely discussion of the most important asset/liability management issues financial institutions will undoubtedly continue to face." William H. Gross, Chief Investment Officer and Managing Director, Pacific Investment Management Company "A terrific text that provides important insights on asset/liability management by evaluating existing theory within a rich institutional setting. This book fills an important market niche and is a must for anyone dealing with A/L at financial institutions and corporations." Professor Stephen A. Ross, Franco Modigliani Professor of Finance and Economics, MIT Sloan School of Management"Leo M Tilman has brought together a collection of authors...that frame a comprehensive ALM discipline to protect against the next possible storm." Mark Bursinger, Vice President, Risk Management, AEGON USA Investment Management, LLC