Credit Risk Management: How to Avoid Lending Disasters and Maximize Earnings
Product Description

Credit Risk Management is a comprehensive textbook that looks at the total integrated process for managing credit risk, ranging from the risk assessment of a single obligor to the risk measurement of an entire portfolio.

This expert learning tool introduces the principle concepts of credit risk analysis…explains the techniques used for improving the effectiveness of balance sheet management in financial institutions…and shows how to manage credit risks under competitive and realistic conditions. Credit Risk Management presents step-by-step coverage of:

• The Credit Process_discussing the operational practices and structural processes to implement and create a sound credit environment
• The Lending Objectives_explaining the credit selection process that is used to evaluate new business, and describing how transaction risk exposure becomes incorporated into portfolio selection risk
• Company Funding Strategies_presenting an overview of the funding strategies on some of the more commonly used financial products in the extension of business credit
• Company Specific Risk Evaluation_outlining some fundamental credit analysis applications that can be used to assess transactions through the framework of a risk evaluation guide
• Qualitative Specific Risk Evaluation_offering additional approaches to risk evaluate a borrower’s industry and management
• Credit Risk Measurement_defining the role of credit risk measurement, presenting a basic framework to measure credit risk, and discussing some of the standard measurement applications to quantify the economic loss on a transaction’s credit exposure
• Credit Portfolio Management_exploring the basic concepts behind credit portfolio management, and highlighting the distinctive factors that drive the management of a portfolio of credit assets compared to a single asset
• Credit Rating Systems_analyzing the pivotal role that credit rating systems have come to play in managing credit risk for lenders
• The Economics of Credit_showing how the modern credit risk approach has changed the economics of credit in order to achieve more profitable earnings and maintain global stability in the financial markets

Filled with a wide range of study aids, Credit Risk Management is today’s best guide to the concepts and practices of modern credit risk management, offering practitioners a detailed roadmap for avoiding lending mishaps and maximizing profits.

Credit Risk Management: How to Avoid Lending Disasters and Maximize Earnings

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The Origin of Financial Crises: Central Banks, Credit Bubbles, and the Efficient Market Fallacy
Product Description
In a series of disarmingly simple arguments financial market analyst George Cooper challenges the core principles of today’s economic orthodoxy and explains how we have created an economy that is inherently unstable and crisis prone. With great skill, he examines the very foundations of today’s economic philosophy and adds a compelling analysis of the forces behind economic crisis. His goal is nothing less than preventing the seemingly endless procession of damaging boom-bust cycles, unsustainable economic bubbles, crippling credit crunches, and debilitating inflation. His direct, conscientious, and honest approach will captivate any reader and is an invaluable aid in understanding today’s economy.
The Origin of Financial Crises: Central Banks, Credit Bubbles, and the Efficient Market Fallacy

Money, Bank Credit, and Economic Cycles
Product Description
Can the market fully manage the money and banking sector?

Jesús Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise that it has and can again, without inflation, without business cycles, and without the economic instability that has characterized the age of government control.

Such a book as this comes along only once every several generations: a complete comprehensive treatise on economic theory. It is sweeping, revolutionary, and devastating–not only the most extended elucidation of Austrian business cycle theory to ever appear in print but also a decisive vindication of the Misesian-Rothbardian perspective on money, banking, and the law.

Jörg Guido Hülsmann has said that this is the most significant work on money and banking to appear since 1912, when Mises’s own book was published and changed the way all economists thought about the subject.

Its five main contributions:

• a wholesale reconstruction of the legal framework for money and banking, from the ancient world to modern times,
• an application of law-and-economics logic to banking that links microeconomic analysis to macroeconomic phenomena,
• a comprehensive critique of fractional-reserve banking from the point of view of history, theory, and policy,
• an application of the Austrian critique of socialism to central banking,
• the most comprehensive look at banking enterprise from the point of view of market-based entrepreneurship.

Those are the main points but, in fact, this only scratches the surface. Indeed, it would be difficult to overestimate the importance of this book. De Soto provides also a defense of the Austrian perspective on business cycles against every other theory, defends the 100% reserve perspective from the point of view of Roman and British law, takes on the most important objections to full reserve theory, and presents a full policy program for radical reform.

It was Hülsmann’s review of the Spanish edition that inspired the translation that led to this Mises Institute edition in English. The result is astonishing: an 875-page masterpiece that utterly demolishes the case for fiat currency and central banking, and shows that these institutions have compromised economic stability and freedom, and, moreover, are intolerable in a free society.

De Soto has set new scholarly standards with this detailed discussion of monetary reform from an Austro-libertarian point of view. Huerta de Soto s solid elaboration of his arguments along these lines makes his treatise a model illustration of the Austrian approach to the study of the relationship between law and economics.

It could take a decade for the full implications of this book to be absorbed but this much is clear: all serious students of these subject matters will have to master this treatise.

Money, Bank Credit, and Economic Cycles