tailieunhanh - Guidelines on Managing Interest Rate Risk in the Banking Book

The emphasis that firms in all three sectors are placing on risk management and risk measurement issues is encouraging. This should result in stronger and better managed firms. The ability to improve risk quantification can provide important tools for assessing risk/return trade-offs and encourage sound risk management practices. However, firms need to understand the limitations of such methodologies and should supplement these where necessary, for example through stress testing. As firms become active participants in new markets and take on new types of risks, it is important that appropriate policies and procedures be put into place to measure and manage. | MA Guidelines on Managing Interest Rate Risk in the Banking Book These guidelines were prepared by the Oesterreichische Nationalbank OeNB in cooperation with the Financial Market Authority FMA Publisher and editor Oesterreichische Nationalbank OeNB Otto-Wagner-Platz 3 1090 Vienna Austria Financial Market Authority FMA Praterstrafe 23 1020 Vienna Austria Produced by Oesterreichische Nationalbank Editors in chief Gunther Thonabauer Communications Division OeNB Barbara Nosslinger Executive Board Affairs and Public Relations FMA Coordinating editors Gerhard Coosmann Christian Doppler Mario Plieschnig Johannes Turner all OeNB Benedikt Hejda Elisabeth Lehner Elmar Mitterbuchner Dagmar Urbanek Ferdinand Wenzl all FMA Translation OeNB Language Services Design Peter Buchegger Communications Division OeNB Typesetting printing and production OeNB Printing Office Otto-Wagner-Platz 3 1090 Vienna Austria Inquiries Oesterreichische Nationalbank Communications Division Postal address . Box 61 1011 Vienna Austria Phone 43-1 404 20-6666 Fax 43-1 404 20-6698 E-Mail Financial Market Authority FMA Executive Board Affairs and Public Relations Praterstrafe 23 1090 Vienna Austria Phone 43-1 249 59-5100 Orders Oesterreichische Nationalbank Documentation Management and Communications Services Postal address . Box 61 1011 Vienna Austria Phone 43-1 404 20-2345 Fax 43-1 404 20-2398 E-Mail Internet Paper Salzer Demeter 100 woodpulp paper bleached without chlorine acid-free without optical whiteners DVR 0031577 Preface The dynamic growth of financial markets and the increased use of complex products have been fundamentally changing the conditions under which credit institutions do business. To be able to cope with these challenges credit institutions need to implement sound risk control and management systems. As a significant source of earnings banks interest rate business is at the same time one of their major factors