Handbook of asset and liability management: from models to optimal return strategies
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Chichester [u.a.]
Wiley
2007
|
| Schriftenreihe: | Wiley finance
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis Klappentext |
| Beschreibung: | XV, 550 S. graph. Darst. 1 CD-ROM (12 cm) |
| ISBN: | 0470034963 9780470034965 |
Internformat
MARC
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| 100 | 1 | |a Adam, Alexandre |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Handbook of asset and liability management |b from models to optimal return strategies |c Alexandre Adam |
| 264 | 1 | |a Chichester [u.a.] |b Wiley |c 2007 | |
| 300 | |a XV, 550 S. |b graph. Darst. |e 1 CD-ROM (12 cm) | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a Wiley finance | |
| 650 | 4 | |a Bilanzstrukturmanagement | |
| 650 | 4 | |a Handbuch / Handbook - 41 | |
| 650 | 4 | |a Asset-liability management | |
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| 856 | 4 | 2 | |m Digitalisierung UB Regensburg |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016248968&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |3 Klappentext |
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Datensatz im Suchindex
| _version_ | 1804137276011184128 |
|---|---|
| adam_text | Contents
Preface
xiii
Acknowledgments
xvii
About the author
xix
PART I INTRODUCTION
1
1
The History of
ALM 3
1.1
The history of the banking industry from antiquity to the Middle Ages
3
1.2
The modern banking industry and the history of
ALM 5
1.3
The history of the insurance industry and
ALM 7
1.4
The history of other businesses and
ALM 9
2
What is Asset and Liability Management Today?
13
2.1 ALM
and the banking industry
13
2.2
Other general
ALM
questions
14
PART II INTERNAL TRANSFER PRICING, ACCOUNTING
AND AUDITING
17
3
Balance Sheet Presentation
19
3.1
General balance sheet presentation
19
3.2
A/L manager s balance sheet presentation
19
3.3
Banking Book and Insurance Book
23
3.4
Income statement and statement of cash flows
25
4
Accrued Accounting for Interest Rate Instruments Versus
Marked-to-Market Accounting
29
4.1
General principles
29
4.2
Accrued accounting examples
30
5 IFRS
and IAS Accounting
33
5.1
IFRS, international organizations and rale presentation
33
5.2
IAS
39
35
5.3
Financial disclosures
48
Handbook of Asset and Liability Management
5.4
IFRS and insurance
53
5.5
Other IFRS specificities
54
5.6
Impact of IFRS on
ALM
and criticism of IFRS
56
6
Economic Accounting : Fair Value and Full Fair Value
59
7
Internal Transfer Pricing or Fund Transfer Pricing (FTP)
61
7.1
Principles
61
7.2
Advanced transfer pricings including credit risk and expected return
on economic capital
64
7.3
The inclusion of implicit options inclusion in the contract by
contract FTP rules and commercial department arbitrage opportunity
66
7.4
FTP rales based on the stock and based on the flows
67
7.5
Examples of FTP rules
72
7.6
Péréquations
77
8
ALM
as a Profit Centre
81
8.1
One profit centre for one financial risk
81
9
Optimal Organization of an
ALM
Team
83
9.1
The usual
ALM
organization
83
9.2
The objectives of
ALM
84
9.3
ALCO: the
ALM
committee
87
9.4
The different
ALM
teams
93
PART III BALANCE SHEET ITEMS AND PRODUCTS MODELLING
99
10
Behavioural Modelling Principles
101
10.1
The constitution of databases
101
10.2
Event driven modelling
103
10.3
Modelling the strategy of the company
104
10.4
Expert advice
105
10.5
Model
backtesting
105
11
Deposits and Savings
107
1
1
.1
Deposits, monetary aggregates, money supply and
macroeconomics
107
11.2
Demand deposit accounts 111
11.3
Saving accounts: regulated and non-regulated savings versus
super-savings
116
11.4
Demand deposits models in the literature
118
11.5
Deposit modelling: the solution through an approach based on
customer behaviour modelling
124
11.6
Deposit modelling through a customer behaviour modelling
based approach: representation in risk indicators and FTP
132
Contents
12
Loans
139
12.1
Different types of loan
139
12.2
Different definitions and formulae
141
13
Prepayments
145
13.1
The origins of the prepayment phenomenon
145
13.2
The constitution of the database for prepayment modelling
159
13.3
Different models: historical database-based approaches and
MBS-based approaches
166
13.4
Prepayment scoring
178
13.5
Prepayment monitoring
178
14
Other Examples of Products Needing Behavioural Modelling
181
14.1
Pipeline risk
181
14.2
Margin delay effects such as whistle effects
182
14.3
Other volume effects options
183
15
Examples of Products Partially Correlated with Financial Markets
185
15.1
Presence of correlation between the cash flows and financial
markets: examples of credit card
185
15.2
Costs and commissions correlation with financial markets
185
15.3
Examples of embedded options
186
16
New Production Modelling
187
16.1
New contract production
187
16.2
Commission and cost modelling
192
16.3
Péréquation
modelling
193
16.4
Future strategies modelling
193
17
Insurance Products
195
17.1
Unit of account contracts
195
17.2
Mutual funds
195
18
Hedging Instruments
197
18.1
Derivatives
197
18.2
Bond strategies
197
18.3
Mortgage Backed Securities
198
PART IV RISK MANAGEMENT FOR ASSET AND LIABILITY
MANAGERS
201
19
Financial Risks
203
19.1
Liquidity risk
203
19.2
Credit risk
220
19.3
Interest rate risk
235
19.4
Inflation risk
259
Handbook of Asset and Liability Management
19.5
Currency risk
265
19.6
Corporate stock market risk
273
19.7
Real estate risk/property risk
274
19.8
Other financial risks
277
20
Non-Financial Risks
281
20.1
Operational risks
281
20.2
Model risks
282
20.3
Business risk
282
20.4
Risk correlations
283
20.5
Accounting risk : the risk representation depends on the
accounting scheme!
283
PART V TOOLS FOR ASSET AND LIABILITY MANAGERS
285
21
Simulation Tools for Interest Rates and Other Financial Indexes
287
21.1
Stochastic calculation
287
21.2
Equity market simulation
292
21.3
Interest rate simulation
296
21.4
Generic models for joint simulation of inflation, stock index, interest
rates, real estate, liquidity and credit spreads
306
21.5
Market simulations including risk premiums
309
22
Delta Equivalent Computation
315
22.1
Principles
315
22.2
Delta, penta,
correla
and
courba
equivalents or Adam
equivalents
322
22.3
Delta equivalent associated break-even point
326
22.4
Examples of delta equivalent computation
327
22.5
Hedging error and gamma equivalent
334
23
Technical Tools Useful in
ALM
339
23.1
Risk measures
339
23.2
Optimization methods
344
23.3
Common statistical tools in
ALM
347
23.4
Other statistical tools and common
ALM
functions
355
PART VI ECONOMIC VALUE AND NEW RISK INDICATORS
ASSOCIATED WITH THE BASEL II AND SOLVENCY II
REGULATORY PERSPECTIVE
357
24
Basel II Regulation and Solvency II
359
24.1
Common regulatory risk constraints
359
24.2
Basel II: normalized regulatory constraints
360
24.3
Solvency II
378
Contents
25 Links
Between
ALM and Financial
Analysis
381
25.1 Performance
indicators in the company
381
25.2
Shareholder s equity value, economic value and risk
premiums
383
25.3
Capital allocation/attribution and capital consumption
386
25.4
Company valuation and cost of capital with positive tax rate
387
25.5
Merton s model
391
25.6
Financial analysis and
ALM
implications
391
26
Towards Economic Capital Indicators
393
26.1
Economic capital and its implications
393
26.2
Economic capital computation main hypotheses
398
26.3 ALM
stress testing
401
26.4
Credit risk economic capital computation
406
26.5
Economic capital in
ALM 407
26.6
IFRS and regulation implications for
ALM 433
26.7
New indicators for the economic value approach
435
PART
VII
OPTIMAL RETURN STRATEGIES
441
27
Risk Perfect Hedging Using the Delta Equivalent Technique
443
27.1
Micro hedging strategies with structured products
443
27.2
Delta hedging strategies
444
27.3
Example of a bank balance sheet with demand deposits
448
28
Limits Policy
453
28.1
Economic capital limit
453
28.2
Setting economic capital limits
454
28.3
Gap limit
454
28.4
Income sensitivity limit
455
29
Income Smoothing Strategies
457
29.1
Important preliminary comment about income smoothing
and fraud
457
29.2
Examples of income smoothing
458
29.3
Example of a cumulative AFS bonds income smoothing
strategy
460
29.4 ALM
and Hawks martingale
461
30
Economic Value Management: The A/L Manager s Optimization
Programme Under Economic Capital Constraints and Accounting
Constraints
463
30.1
Point of view of traditional A/L managers and criticism of
the models 463
30.2
Economic value management
466
30.3
Economic value optimization using grid methodology
470
xii
Handbook of Asset and Liability Management
31
Application to Banking Book Activities
473
31.1
Deposit accounts: valuation and hedging in an economic capital
approach using the grid methodology
473
31.2
Application to Stock Market Book
482
31.3
Application to Credit Risk Book
483
31.4
Prepayment risk optimal hedging strategies
484
31.5
Application to a global Banking Book including business and
model risk
485
31.6
Direct demand deposit income smoothing through a simple example
487
32
Economic Value Management in Insurance Companies and in Capital
Book Management
491
32.1
Economic value management in insurance companies
491
32.2
Application to economic Capital Book management
492
PART
VIII
CONCLUSIONS ON THE
ALM
OF TOMORROW
495
33
Conclusions on the Future of
ALM
497
33.1
ALM
diversity
497
33.2
ALM
benchmarking
500
33.3
Conclusions on
ALM
and models
500
PART IX ANNEXES
507
34
Statistical Advanced Tools
509
34.1
Extreme points
509
34.2
Copulas
509
35
The Basis of Interest Rate Modelling
513
35.1
Yield curve
reconstitution
513
35.2
Yield curve stochastic interest rate models
521
Bibliography
533
Index
541
About the author
ALEXANDRE
ADAM is a French
Asset and Liability Manager
born in Reims, France. He has a
Statistics and Economics Post¬
graduate Diploma from the
École Nationale de la Statistique
et de l Administration Économique, Malakoff; an
Advanced
Graduate Degree in
Engineering
from
the
École Polytechnique, Palaiseau;
and a Masters
Degree in Mathematics from University Paris-VI.
Since
1997,
Alexandre
has worked for
BNP
Paribas,
in the
ALM
and Treasury Department,
and is currently Head of the Financial Models
Team, contributing to the
ΑΙ.Μ
models and
indicators such as Stress Tests, Economic Capital,
and Behavioural Models Estimation.
Alexandre
is an actuary of the French Institute of
Actuaries; a member of the scientific committee of
AFCìAP,
the French Association of Asset and
liability Managers; and since
2005
has been a
Master Degree lecturer at L niversity Paris
XIII.
Alexandre
has published many articles on
ALM in
specialised journals.
|
| adam_txt |
Contents
Preface
xiii
Acknowledgments
xvii
About the author
xix
PART I INTRODUCTION
1
1
The History of
ALM 3
1.1
The history of the banking industry from antiquity to the Middle Ages
3
1.2
The modern banking industry and the history of
ALM 5
1.3
The history of the insurance industry and
ALM 7
1.4
The history of other businesses and
ALM 9
2
What is Asset and Liability Management Today?
13
2.1 ALM
and the banking industry
13
2.2
Other general
ALM
questions
14
PART II INTERNAL TRANSFER PRICING, ACCOUNTING
AND AUDITING
17
3
Balance Sheet Presentation
19
3.1
General balance sheet presentation
19
3.2
A/L manager's balance sheet presentation
19
3.3
Banking Book and Insurance Book
23
3.4
Income statement and statement of cash flows
25
4
"Accrued Accounting" for Interest Rate Instruments Versus
"Marked-to-Market" Accounting
29
4.1
General principles
29
4.2
Accrued accounting examples
30
5 IFRS
and IAS Accounting
33
5.1
IFRS, international organizations and rale presentation
33
5.2
IAS
39
35
5.3
Financial disclosures
48
Handbook of Asset and Liability Management
5.4
IFRS and insurance
53
5.5
Other IFRS specificities
54
5.6
Impact of IFRS on
ALM
and criticism of IFRS
56
6
"Economic Accounting": Fair Value and Full Fair Value
59
7
Internal Transfer Pricing or Fund Transfer Pricing (FTP)
61
7.1
Principles
61
7.2
Advanced transfer pricings including credit risk and expected return
on economic capital
64
7.3
The inclusion of implicit options inclusion in the "contract by
contract" FTP rules and commercial department arbitrage opportunity
66
7.4
FTP rales based on the "stock" and based on the "flows"
67
7.5
Examples of FTP rules
72
7.6
Péréquations
77
8
ALM
as a Profit Centre
81
8.1
One profit centre for one financial risk
81
9
Optimal Organization of an
ALM
Team
83
9.1
The usual
ALM
organization
83
9.2
The objectives of
ALM
84
9.3
ALCO: the
ALM
committee
87
9.4
The different
ALM
teams
93
PART III BALANCE SHEET ITEMS AND PRODUCTS MODELLING
99
10
Behavioural Modelling Principles
101
10.1
The constitution of databases
101
10.2
Event driven modelling
103
10.3
Modelling the strategy of the company
104
10.4
Expert advice
105
10.5
Model
backtesting
105
11
Deposits and Savings
107
1
1
.1
Deposits, monetary aggregates, money supply and
macroeconomics
107
11.2
Demand deposit accounts 111
11.3
Saving accounts: regulated and non-regulated savings versus
super-savings
116
11.4
Demand deposits models in the literature
118
11.5
Deposit modelling: the solution through an approach based on
customer behaviour modelling
124
11.6
Deposit modelling through a customer behaviour modelling
based approach: representation in risk indicators and FTP
132
Contents
12
Loans
139
12.1
Different types of loan
139
12.2
Different definitions and formulae
141
13
Prepayments
145
13.1
The origins of the prepayment phenomenon
145
13.2
The constitution of the database for prepayment modelling
159
13.3
Different models: historical database-based approaches and
MBS-based approaches
166
13.4
Prepayment scoring
178
13.5
Prepayment monitoring
178
14
Other Examples of Products Needing Behavioural Modelling
181
14.1
Pipeline risk
181
14.2
Margin delay effects such as "whistle effects"
182
14.3
Other volume effects options
183
15
Examples of Products Partially Correlated with Financial Markets
185
15.1
Presence of correlation between the cash flows and financial
markets: examples of credit card
185
15.2
Costs and commissions correlation with financial markets
185
15.3
Examples of embedded options
186
16
New Production Modelling
187
16.1
New contract production
187
16.2
Commission and cost modelling
192
16.3
Péréquation
modelling
193
16.4
Future strategies modelling
193
17
Insurance Products
195
17.1
Unit of account contracts
195
17.2
Mutual funds
195
18
Hedging Instruments
197
18.1
Derivatives
197
18.2
Bond strategies
197
18.3
Mortgage Backed Securities
198
PART IV RISK MANAGEMENT FOR ASSET AND LIABILITY
MANAGERS
201
19
Financial Risks
203
19.1
Liquidity risk
203
19.2
Credit risk
220
19.3
Interest rate risk
235
19.4
Inflation risk
259
Handbook of Asset and Liability Management
19.5
Currency risk
265
19.6
Corporate stock market risk
273
19.7
Real estate risk/property risk
274
19.8
Other financial risks
277
20
Non-Financial Risks
281
20.1
Operational risks
281
20.2
Model risks
282
20.3
Business risk
282
20.4
Risk correlations
283
20.5
"Accounting risk": the risk representation depends on the
accounting scheme!
283
PART V TOOLS FOR ASSET AND LIABILITY MANAGERS
285
21
Simulation Tools for Interest Rates and Other Financial Indexes
287
21.1
Stochastic calculation
287
21.2
Equity market simulation
292
21.3
Interest rate simulation
296
21.4
Generic models for joint simulation of inflation, stock index, interest
rates, real estate, liquidity and credit spreads
306
21.5
Market simulations including risk premiums
309
22
Delta Equivalent Computation
315
22.1
Principles
315
22.2
Delta, penta,
correla
and
courba
equivalents or "Adam
equivalents"
322
22.3
Delta equivalent associated break-even point
326
22.4
Examples of delta equivalent computation
327
22.5
Hedging error and gamma equivalent
334
23
Technical Tools Useful in
ALM
339
23.1
Risk measures
339
23.2
Optimization methods
344
23.3
Common statistical tools in
ALM
347
23.4
Other statistical tools and common
ALM
functions
355
PART VI ECONOMIC VALUE AND NEW RISK INDICATORS
ASSOCIATED WITH THE BASEL II AND SOLVENCY II
REGULATORY PERSPECTIVE
357
24
Basel II Regulation and Solvency II
359
24.1
Common regulatory risk constraints
359
24.2
Basel II: normalized regulatory constraints
360
24.3
Solvency II
378
Contents
25 Links
Between
ALM and Financial
Analysis
381
25.1 Performance
indicators in the company
381
25.2
Shareholder's equity value, economic value and risk
premiums
383
25.3
Capital allocation/attribution and capital consumption
386
25.4
Company valuation and cost of capital with positive tax rate
387
25.5
Merton's model
391
25.6
Financial analysis and
ALM
implications
391
26
Towards Economic Capital Indicators
393
26.1
Economic capital and its implications
393
26.2
Economic capital computation main hypotheses
398
26.3 ALM
stress testing
401
26.4
Credit risk economic capital computation
406
26.5
Economic capital in
ALM 407
26.6
IFRS and regulation implications for
ALM 433
26.7
New indicators for the economic value approach
435
PART
VII
OPTIMAL RETURN STRATEGIES
441
27
Risk Perfect Hedging Using the Delta Equivalent Technique
443
27.1
Micro hedging strategies with structured products
443
27.2
Delta hedging strategies
444
27.3
Example of a bank balance sheet with demand deposits
448
28
Limits Policy
453
28.1
Economic capital limit
453
28.2
Setting economic capital limits
454
28.3
Gap limit
454
28.4
Income sensitivity limit
455
29
Income Smoothing Strategies
457
29.1
Important preliminary comment about income smoothing
and fraud
457
29.2
Examples of income smoothing
458
29.3
Example of a cumulative AFS bonds income smoothing
strategy
460
29.4 ALM
and Hawks martingale
461
30
Economic Value Management: The A/L Manager's Optimization
Programme Under Economic Capital Constraints and Accounting
Constraints
463
30.1
Point of view of "traditional A/L managers" and criticism of
the models 463
30.2
Economic value management
466
30.3
Economic value optimization using grid methodology
470
xii
Handbook of Asset and Liability Management
31
Application to Banking Book Activities
473
31.1
Deposit accounts: valuation and hedging in an economic capital
approach using the grid methodology
473
31.2
Application to Stock Market Book
482
31.3
Application to Credit Risk Book
483
31.4
Prepayment risk optimal hedging strategies
484
31.5
Application to a global Banking Book including business and
model risk
485
31.6
Direct demand deposit income smoothing through a simple example
487
32
Economic Value Management in Insurance Companies and in Capital
Book Management
491
32.1
Economic value management in insurance companies
491
32.2
Application to economic Capital Book management
492
PART
VIII
CONCLUSIONS ON THE
ALM
OF TOMORROW
495
33
Conclusions on the Future of
ALM
497
33.1
ALM
diversity
497
33.2
ALM
benchmarking
500
33.3
Conclusions on
ALM
and models
500
PART IX ANNEXES
507
34
Statistical Advanced Tools
509
34.1
Extreme points
509
34.2
Copulas
509
35
The Basis of Interest Rate Modelling
513
35.1
Yield curve
reconstitution
513
35.2
Yield curve stochastic interest rate models
521
Bibliography
533
Index
541
About the author
ALEXANDRE
ADAM is a French
Asset and Liability Manager
born in Reims, France. He has a
Statistics and Economics Post¬
graduate Diploma from the
École Nationale de la Statistique
et de l'Administration Économique, Malakoff; an
Advanced
Graduate Degree in
Engineering
from
the
École Polytechnique, Palaiseau;
and a Masters
Degree in Mathematics from University Paris-VI.
Since
1997,
Alexandre
has worked for
BNP
Paribas,
in the
ALM
and Treasury Department,
and is currently Head of the Financial Models
Team, contributing to the
ΑΙ.Μ
models and
indicators such as Stress Tests, Economic Capital,
and Behavioural Models Estimation.
Alexandre
is an actuary of the French Institute of
Actuaries; a member of the scientific committee of
AFCìAP,
the French Association of Asset and
liability Managers; and since
2005
has been a
Master Degree lecturer at L'niversity Paris
XIII.
Alexandre
has published many articles on
ALM in
specialised journals. |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Adam, Alexandre |
| author_facet | Adam, Alexandre |
| author_role | aut |
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| bvnumber | BV023045485 |
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| callnumber-search | HG1615.25 |
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| callnumber-subject | HG - Finance |
| classification_rvk | QK 300 QK 320 |
| ctrlnum | (OCoLC)255877456 (DE-599)BVBBV023045485 |
| dewey-full | 658.155 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.155 |
| dewey-search | 658.155 |
| dewey-sort | 3658.155 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV023045485 |
| illustrated | Illustrated |
| index_date | 2024-07-02T19:22:24Z |
| indexdate | 2024-07-09T21:09:43Z |
| institution | BVB |
| isbn | 0470034963 9780470034965 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016248968 |
| oclc_num | 255877456 |
| open_access_boolean | |
| owner | DE-92 DE-355 DE-BY-UBR DE-1102 DE-703 DE-91G DE-BY-TUM DE-384 DE-N2 DE-2070s |
| owner_facet | DE-92 DE-355 DE-BY-UBR DE-1102 DE-703 DE-91G DE-BY-TUM DE-384 DE-N2 DE-2070s |
| physical | XV, 550 S. graph. Darst. 1 CD-ROM (12 cm) |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | Wiley |
| record_format | marc |
| series2 | Wiley finance |
| spelling | Adam, Alexandre Verfasser aut Handbook of asset and liability management from models to optimal return strategies Alexandre Adam Chichester [u.a.] Wiley 2007 XV, 550 S. graph. Darst. 1 CD-ROM (12 cm) txt rdacontent n rdamedia nc rdacarrier Wiley finance Bilanzstrukturmanagement Handbuch / Handbook - 41 Asset-liability management Vermögensverwaltung (DE-588)4063089-4 gnd rswk-swf Verbindlichkeiten (DE-588)4127073-3 gnd rswk-swf Rendite (DE-588)4049459-7 gnd rswk-swf Management (DE-588)4037278-9 gnd rswk-swf Vermögensverwaltung (DE-588)4063089-4 s Verbindlichkeiten (DE-588)4127073-3 s Management (DE-588)4037278-9 s Rendite (DE-588)4049459-7 s DE-604 Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016248968&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016248968&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Adam, Alexandre Handbook of asset and liability management from models to optimal return strategies Bilanzstrukturmanagement Handbuch / Handbook - 41 Asset-liability management Vermögensverwaltung (DE-588)4063089-4 gnd Verbindlichkeiten (DE-588)4127073-3 gnd Rendite (DE-588)4049459-7 gnd Management (DE-588)4037278-9 gnd |
| subject_GND | (DE-588)4063089-4 (DE-588)4127073-3 (DE-588)4049459-7 (DE-588)4037278-9 |
| title | Handbook of asset and liability management from models to optimal return strategies |
| title_auth | Handbook of asset and liability management from models to optimal return strategies |
| title_exact_search | Handbook of asset and liability management from models to optimal return strategies |
| title_exact_search_txtP | Handbook of asset and liability management from models to optimal return strategies |
| title_full | Handbook of asset and liability management from models to optimal return strategies Alexandre Adam |
| title_fullStr | Handbook of asset and liability management from models to optimal return strategies Alexandre Adam |
| title_full_unstemmed | Handbook of asset and liability management from models to optimal return strategies Alexandre Adam |
| title_short | Handbook of asset and liability management |
| title_sort | handbook of asset and liability management from models to optimal return strategies |
| title_sub | from models to optimal return strategies |
| topic | Bilanzstrukturmanagement Handbuch / Handbook - 41 Asset-liability management Vermögensverwaltung (DE-588)4063089-4 gnd Verbindlichkeiten (DE-588)4127073-3 gnd Rendite (DE-588)4049459-7 gnd Management (DE-588)4037278-9 gnd |
| topic_facet | Bilanzstrukturmanagement Handbuch / Handbook - 41 Asset-liability management Vermögensverwaltung Verbindlichkeiten Rendite Management |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016248968&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016248968&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
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