{"product_id":"collateral-management-isbn-9780470973509","title":"Collateral Management","description":"\u003cb\u003eInsight into collateral management and its increasing relevance in modern banking\u003c\/b\u003e \u003cp\u003eIn the wake of recent financial crises, firms of all sizes have adjusted their policies to incorporate more frequent instances of collateral management. \u003ci\u003eCollateral Management: A Guide to Mitigating Counterparty Risk\u003c\/i\u003e explains the connection between the need for collateral management in order to alleviate counterparty risk and the actions that firms must take to achieve it. Targeted at middle and back office managers seeking a hands-on explanation of the specifics of collateral management, this book offers a thorough treatment of the subject and attends to details such as internal record management, daily procedures used in making and receiving collateral calls, and settlement-related issues that affect the movements of cash and securities collateral. An expert in financial topics ranging from trade lifecycle to operational risk, author Michael Simmons offers readers insight into a field that, so far, is struggling to produce enough expertise to meet its high demand.\u003c\/p\u003e \u003cul\u003e \u003cli\u003ePresents hands-on advice and examples from a bestselling, internationally renowned author who introduces his third book on operations and operations-related activities\u003c\/li\u003e \u003cli\u003eExplains the relationship between collateral management and preventing institutional defaults, such as the recent Lehman Brothers downfall\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eSince 2008, firms have recognized and embraced the importance of collateral management, but this book will provide practitioners with a deeper understanding and appreciation of its relevance.\u003c\/p\u003e \u003cp\u003eForeword xvii\u003c\/p\u003e \u003cp\u003eAcknowledgements xix\u003c\/p\u003e \u003cp\u003eAbout the Author xxi\u003c\/p\u003e \u003cp\u003eIntroduction xxiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1 Introductory Elements\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Fundamental Collateral Concepts 3\u003c\/p\u003e \u003cp\u003eChapter 2 The Nature and Characteristics of Collateral Types 7\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2 Sale \u0026amp; Repurchase (Repo) Trades and Collateral\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 3 Sale \u0026amp; Repurchase (Repo) Trades and Collateral – Introduction to Repo 29\u003c\/p\u003e \u003cp\u003eChapter 4 Sale \u0026amp; Repurchase (Repo) Trades and Collateral – Classic Repo Trades 33\u003c\/p\u003e \u003cp\u003eChapter 5 Sale \u0026amp; Repurchase (Repo) Trades and Collateral – The Repo Trade Lifecycle 79\u003c\/p\u003e \u003cp\u003eIntroduction 79\u003c\/p\u003e \u003cp\u003eChapter 6 Sale \u0026amp; Repurchase (Repo) Trades and Collateral – Stock-Based Classic Repo Trades 101\u003c\/p\u003e \u003cp\u003eChapter 7 Sale \u0026amp; Repurchase (Repo) Trades and Collateral – Repo Trade Variations 103\u003c\/p\u003e \u003cp\u003eChapter 8 Sale \u0026amp; Repurchase (Repo) Trades and Collateral – The Global Master Repurchase Agreement 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3 Securities Lending \u0026amp; Borrowing and Collateral\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 9 Securities Lending \u0026amp; Borrowing and Collateral – Introduction to SL\u0026amp;B 161\u003c\/p\u003e \u003cp\u003eChapter 10 Securities Lending \u0026amp; Borrowing and Collateral – Principles of SL\u0026amp;B 167\u003c\/p\u003e \u003cp\u003eChapter 11 Securities Lending \u0026amp; Borrowing and Collateral – The SL\u0026amp;B Trade Lifecycle 211\u003c\/p\u003e \u003cp\u003eChapter 12 Securities Lending \u0026amp; Borrowing and Collateral – Accessing the SL\u0026amp;B Marketplace 237\u003c\/p\u003e \u003cp\u003eChapter 13 Securities Lending \u0026amp; Borrowing and Collateral – The Global Master Securities Lending Agreement 253\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 4a OTC Derivatives and Collateral\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 14 OTC Derivatives and Collateral – Transaction Types – Introduction 295\u003c\/p\u003e \u003cp\u003eChapter 15 OTC Derivatives and Collateral – Transaction Types – Generic Structural Aspects 303\u003c\/p\u003e \u003cp\u003eChapter 16 OTC Derivatives and Collateral – Transaction Types – Interest Rate Swaps 311\u003c\/p\u003e \u003cp\u003eChapter 17 OTC Derivatives and Collateral – Transaction Types – Credit Default Swaps 319\u003c\/p\u003e \u003cp\u003eChapter 18 OTC Derivatives and Collateral – Transaction Types – Foreign Exchange Swaps 329\u003c\/p\u003e \u003cp\u003eChapter 19 OTC Derivatives and Collateral – Transaction Types – Cross-Currency Swaps 341\u003c\/p\u003e \u003cp\u003eChapter 20 OTC Derivatives and Collateral – Legal Protection – Introduction 349\u003c\/p\u003e \u003cp\u003eChapter 21 OTC Derivatives and Collateral – Legal Protection – Master Agreement and Schedule 351\u003c\/p\u003e \u003cp\u003eChapter 22 OTC Derivatives and Collateral – Legal Protection – Credit Support Annex 361\u003c\/p\u003e \u003cp\u003eChapter 23 OTC Derivatives and Collateral – Static Data 401\u003c\/p\u003e \u003cp\u003eChapter 24 The OTC Derivative Collateral Lifecycle 413\u003c\/p\u003e \u003cp\u003eChapter 25 OTC Derivatives and Collateral – The Collateral Lifecycle – Pre-Trading – Legal Documentation 415\u003c\/p\u003e \u003cp\u003eChapter 26 OTC Derivatives and Collateral – The Collateral Lifecycle – Pre-Trading – Static Data 419\u003c\/p\u003e \u003cp\u003eChapter 27 OTC Derivatives and Collateral – The Collateral Lifecycle – Trading – Trade Execution 421\u003c\/p\u003e \u003cp\u003eChapter 28 OTC Derivatives and Collateral – The Collateral Lifecycle – Post-Trading – Trade Capture 429\u003c\/p\u003e \u003cp\u003eChapter 29 OTC Derivatives and Collateral – The Collateral Lifecycle – Post-Trading – Trade Confi rmation\/Affi rmation 435\u003c\/p\u003e \u003cp\u003eChapter 30 OTC Derivatives and Collateral – The Collateral Lifecycle – Post-Trading – Trade\/Portfolio Netting 439\u003c\/p\u003e \u003cp\u003eChapter 31 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Portfolio Reconciliation 447\u003c\/p\u003e \u003cp\u003eChapter 32 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Marking-to-Market 457\u003c\/p\u003e \u003cp\u003eChapter 33 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Exposure Calculation 463\u003c\/p\u003e \u003cp\u003eChapter 34 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Receiving Margin Calls 475\u003c\/p\u003e \u003cp\u003eChapter 35 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Issuing Margin Calls 501\u003c\/p\u003e \u003cp\u003eChapter 36 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Holding Collateral 515\u003c\/p\u003e \u003cp\u003eChapter 37 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Post-Trade Execution Events – Introduction 531\u003c\/p\u003e \u003cp\u003eChapter 38 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Post-Trade Execution Events – Novation 533\u003c\/p\u003e \u003cp\u003eChapter 39 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Post-Trade Execution Events – Unwind 541\u003c\/p\u003e \u003cp\u003eChapter 40 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Post-Trade Execution Events – Offset 547\u003c\/p\u003e \u003cp\u003eChapter 41 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Post-Trade Execution Events – Credit Events 553\u003c\/p\u003e \u003cp\u003eChapter 42 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Collateral Substitution 559\u003c\/p\u003e \u003cp\u003eChapter 43 OTC Derivatives and Collateral – The Collateral Lifecycle – Throughout Lifetime of Trade – Income \u0026amp; Corporate Action Events 567\u003c\/p\u003e \u003cp\u003eChapter 44 OTC Derivatives and Collateral – The Collateral Lifecycle – Trade Termination – Trade Termination 575\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 4b OTC Derivatives and Collateral – Legal Documentation\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 45 OTC Derivatives and Collateral – Legal Documentation 579\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 4c OTC Derivatives and Collateral – Regulatory Change and the Future Of Collateral\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 46 OTC Derivatives and Collateral – Regulatory Change and the Future of Collateral – Introduction 583\u003c\/p\u003e \u003cp\u003eChapter 47 OTC Derivatives and Collateral – Regulatory Change and the Future of Collateral – Centrally Cleared Trades 597\u003c\/p\u003e \u003cp\u003eChapter 48 OTC Derivatives and Collateral – Regulatory Change and the Future of Collateral – Non Centrally Cleared Trades 629\u003c\/p\u003e \u003cp\u003eGlossary of Terms 657\u003c\/p\u003e \u003cp\u003eUseful Websites 703\u003c\/p\u003e \u003cp\u003eFurther Reading 705\u003c\/p\u003e \u003cp\u003eIndex 707\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eMICHAEL SIMMONS\u003c\/b\u003e is a financial services operations specialist with expertise in post-trade processes. For over 20 years, he worked at a blue-chip investment bank (S.G. Warburg and Warburg Securities) where he was the manager of Fixed Income (Bond) Operations. Over these two decades of hands-on experience in the field, Mike identified a need for practitioner-oriented education programs on multiple aspects of operations, including the securities trade lifecycle, corporate actions, operational risk and associated controls. He thus began writing and delivering popular training courses, including the Operations Certificate Programme (a 5-day multi-subject examined qualification) for the International Capital Market Association. He is the author of two previous books, namely \u003ci\u003eSecurities Operations\u003c\/i\u003e and \u003ci\u003eCorporate Actions\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003eObservations on the style and content of this book can be conveyed to the author by email to info@mike-simmons.com.   \u003c\/p\u003e\u003cp\u003eIn today’s risk-focused financial landscape, there is a clamour for practical information about the once-esoteric practice of exchanging collateral on financial products. Risk managers in organizations large and small, both on the buy-side and the sell-side, must bring collateral management to the fore to mitigate exposure. \u003ci\u003eCollateral Management\u003c\/i\u003e is a response to this intense demand from one of the industry’s leading experts on the topic. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eCollateral Management\u003c\/i\u003e is not a theoretical text. Rather, this book dissolves the topic of collateral management into its logical components, providing day-to-day guidance on how to implement this important risk mitigation strategy. With over 150 diagrams, more than 600 glossary entries, and numerous example calculations, \u003ci\u003eCollateral Management\u003c\/i\u003e provides professionals with the unique complex of knowledge and tools needed for a contemporary approach to collateral. \u003c\/p\u003e\u003cp\u003eRisk managers, lawyers, securities custodians, consultants, and financial software professionals alike will benefit from the comprehensive information in this text. Readers will master the principles and practices that apply to collateral for sales \u0026amp; repurchases (repo), securities lending \u0026amp; borrowing, and OTC derivatives. Today, firms of all sizes are actively using collateral as a major risk mitigation measure, and this guide to applied collateral management delivers complete coverage that practitioners need. \u003c\/p\u003e\u003cp\u003eCollateral management has become a high-profile practice in the financial services industry, rising to prominence after the 2008 Global Financial Crisis. In the past, only the very largest firms engaged in regular collateral management, and often on only a biweekly or monthly basis. Now, firms of all sizes are recognizing the importance of mitigating risk by establishing daily collateral management practices for a wide range of financial products; such practices are increasingly forced by regulatory authorities. \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003eCollateral Management: A Guide to Mitigating Counterparty Risk,\u003c\/i\u003e bestselling author Michael Simmons provides an in-depth practical guide to understanding and addressing the issue of collateral. Managers, legal professionals, and consultants alike will benefit from this detailed examination of the day-to-day practices and considerations involved in collateral management.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988944961765,"sku":"NP9780470973509","price":100.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470973509.jpg?v=1761782154","url":"https:\/\/k12savings.com\/es\/products\/collateral-management-isbn-9780470973509","provider":"K12savings","version":"1.0","type":"link"}