商业银行管理 ROSE 7e 课后答案chapter_09

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1、CHAPTER9RISKMANAGEMENTUSINGASSET-BACKEDSECURITIES,LOANSALES,CREDITSTANDBYS,ANDCREDITDERIVATIVESGoalofThisChapter:Thepurposeofthischapteristolearnaboutsomeofthenewerfinancialinstrumentsthatfinancialinstitutionshaveusedinrecentyearstohelpreducetheriskexpo

2、sureoftheirinstitutionsand,insomecases,toaidingeneratingnewsourcesoffeeincomeandinraisingnewfundstomakeloansandinvestments.KeyTopicsinThisChapter·TheSecuritizationProcess·Securitization’sImpactandRisks·SalesofLoans:NatureandRisks·StandbyCredits:Pricinga

3、ndRisks·CreditDerivativesandCDOs·BenefitsandRisksofCreditDerivativesChapterOutlineI.IntroductionII.SecuritizingBankLoansandOtherAssetsA.NatureofSecuritizationB.TheSecuritizationProcessC.AdvantagesofSecuritizationD.TheBeginningsofSecuritization–TheHomeMo

4、rtgageMarket1.CollateralizedMortgageObligations–CMOs2.LoanBackedBondsE.ExamplesofOtherAssetsThatHaveBeenSecuritizedF.TheImpactofSecuritizationUponLendingInstitutionsG.Regulators’ConcernsAboutSecuritizationIll.SalesofLoanstoRaiseFundsA.NatureofLoanSalesB

5、.LoanParticipationsandLoanStripsC.ReasonsBehindLoanSalesD.TheRisksinLoanSalesIV.StandbyCreditLettersA.TheNatureofStandbyCredits(ContingentObligations)B.TypesofStandbyCreditLettersC.AdvantagesofStandbysD.ReasonsforRapidGrowthofStandbysE.TheStructureofSta

6、ndbyLettersofCreditF.TheValueandPricingofStandbyLetters127G.SourcesofRiskwithStandbyCreditsH.RegulatoryConcernsaboutStandbyCreditArrangementsI.ResearchStudiesonStandbys,LoanSales,andSecuritizationsV.CreditDerivatives:ContractsforReducingCreditRiskExposu

7、reontheBalanceSheetA.AnAlternativetoSecuritizationB.CreditSwapsC.CreditOptionsD.CreditDefaultSwapsE.CreditLinkedNotesF.CollateralizedDebtObligationsG.RisksAssociatedWithCreditDerivativesVI.SummaryoftheChapterConceptChecks9-1.Whatdoessecuritizationofasse

8、tsmean?Securitizationinvolvesthepoolingofgroupsofearningassets,removingthosepooledassetsfromthebank’sbalancesheet,andissuingsecuritiesagainstthepool.Asthepooledassetsgenerateinterestincomeandrepaymentsofprincipalthecashgeneratedb