Financial institutions management : a risk management approach / Anthony Saunders, Marcia Millon Cornett, and Otgontsetseg (Otgo) Erhemjamts.

Includes index.

Why are financial institutions special? -- Financial services: Depository institutions -- Financial services: Finance companies -- Financial services: Securities firms and investments banks -- Financial services: Mutual band and hedge fund companies -- Financial services: Insurance companies -- Risk of financial institutions -- Interest rate risk I -- Interest rate risk II -- Credit risk: Individual loan risk -- Credit risk: Loan portfolio and concentration risk -- Liquidity risk -- Foreign exchange risk -- Sovereign risk -- Market risk -- Off-Balance-Sheet risk -- Technology and other operational risk -- Fintech risk -- Liability and liquidity management -- Deposit insurance and other liability guarantees -- Capital adequacy -- Product and geographic expansion -- Futures and forwards -- Options, caps, floors, ad collars -- Swaps -- Loan sales -- Securitization.

"The last 35 years have been dramatic for the financial services industry. In the 1990s and 2000s, boundaries between the traditional industry sectors, such as commercial banking and investment banking, broke down, and competition became increasingly global in nature. Many forces contributed to this breakdown in interindustry and intercountry barriers, including financial innovation, technology, taxation, and regulation. Then in 2008-09, the financial services industry experienced the worst financial crisis since the Great Depression. Even into the mid-2010s, the U.S. and world economies had not recovered from this crisis. It is in this context that this book is written. Although the traditional nature of each sector's product activity is analyzed, a greater emphasis is placed on new areas of activities such as asset securitization, offbalance- heet banking, international banking, and on changes occurring as a result of the financial crisis. When the first edition of this text was released in 1994, it was the first to analyze modern financial institutions management from a risk perspective -thus, the title, Financial Institutions Management: A Modern Perspective. At that time, traditional texts presented an overview of the industry sector by sector, concentrating on balance sheet presentations and overlooking management decision making and risk management. Over the last 20 years, other texts have followed this change, such that a risk management approach to analyzing modern financial institutions is now well accepted-thus, the title: Financial Institutions Management: A Risk Management Approach. The tenth edition of this text takes the same innovative approach taken in the first nine editions and focuses on managing return and risk in modern financial institutions (FIs). Financial Institutions Management's central theme is that the risks faced by FI managers and the methods and markets through which these risks are managed are similar whether an institution is chartered as a commercial bank, a savings bank, an investment bank, or an insurance company"-- Provided by publisher.