Overview
- Explores the concept of systemic risk in the financial system
- Explores how to measure systemic risk at firm level and system-wide level
- Discusses macroprudential policy making
- Explores trends in technology and society influencing finance and macroprudential policy
- Presents ideas on how firms and individuals can best respond to current developments in finance linked to systemic risk
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Table of contents (8 chapters)
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Front Matter
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Back Matter
Keywords
- Financial risk
- Measuring systemic risk
- Analysing systemic risk
- Financial system
- Financial regulation
- Macroprudential policy
- Risk modelling
- Banking
- Insurance
- Pension funds
- Asset management
- Shadow banking
- Market infrastructure
- Risk analytics
- Microprudential policy
- Monetary policy
- Systemically important financial institutions
- SIFIs
- activity-based regulation
- entity-based regulation
- investments and securities
About this book
Systemic Risk provides readers with a wide-ranging practical guide to systemic risk in the financial system. It challenges the notion that systemic risk is exclusively about interconnectivities within the financial system, showing that past systemic risk crises have often involved a broader range of vulnerabilities.
It describes how regulators and governments are seeking to manage systemic risk, and how their concerns are driving change in regulatory and business environments across the financial sector. It sets out how firms and practitioners can effectively respond to these changes (covering topics such as data needs, quantification of risk exposures, management disciplines and skillset requirements etc.). It highlights the sources and characteristics of systemic risk and the concentrations of exposures to this risk. It also links systemic risk with other risk disciplines including exploring how systemic risk ties in with liquidity risk and credit risk andhow it interacts with central clearing, collateralisation and pricing of derivatives.
Authors and Affiliations
About the author
Malcolm Kemp is Founder and Managing Director of Nematrian Ltd, a consulting firm delivering services to the quantitative finance and actuarial communities. Previously, he was Director and Head of the Quantitative Research Team at Threadneedle Asset Management, responsible for its portfolio risk measurement and management activities. He is a leading expert on derivatives, performance measurement, risk measurement, liability driven investment and other quantitative investment techniques. Malcolm is a Fellow of the Institute of Actuaries, a Chartered Enterprise Risk Actuary, an Adjunct Professor at Imperial College Business School and a member of the Advisory Scientific Committee of the European Systemic Risk Board.
Bibliographic Information
Book Title: Systemic Risk
Book Subtitle: A Practitioner's Guide to Measurement, Management and Analysis
Authors: Malcolm H.D. Kemp
DOI: https://doi.org/10.1057/978-1-137-56587-7
Publisher: Palgrave Macmillan London
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2017
Hardcover ISBN: 978-1-137-56586-0Published: 01 September 2017
eBook ISBN: 978-1-137-56587-7Published: 11 August 2017
Edition Number: 1
Number of Pages: XXVI, 327
Number of Illustrations: 15 b/w illustrations
Topics: Risk Management, Banking, Investments and Securities