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Handbook of Asset and Liability Management: From Models to Optimal Return Strategies (The Wiley Finance Series)
By: Alexandre AdameBook Publisher: John Wiley & Sons
Imprint: John Wiley & Sons, Ltd.
Format: Adobe Encrypted (DRM)
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In the Handbook of Asset and Liability Management: From Models to Optimal Return Strategies , Alexandre Adam presents a comprehensive guide to Asset and Liability Management. Written from a quantitative perspective with economic explanations, this book will appeal to both mathematicians and non-mathematicians alike as it gives an operational view on the business. Well structured, this book includes essential information on Balance Sheet Items and Products Modeling, Tools for Asset and Liability Managers, as well as Optimal Returns Strategies. Explaining, in detail, all the written and unwritten rules of Asset Liability Management, using up-to-date models and the latest findings, the Handbook of Asset and Liability Management is an essential tool for Asset and Liability Managers both for the present day and the future.
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| Title of Business & Economics eBook: Handbook of Asset and Liability Management: From Models to Optimal Return Strategies (The Wiley Finance Series) | |
| Release Date: 05-12-2008 | |
| Publisher: John Wiley & Sons, Ltd. |
This eBook download is available in the following formats:
| Parent title | Handbook of Asset and Liability... |
|---|---|
| Encrypted (DRM) | Yes |
| SKU | 9780470724118 |
| File size | 4858 |
| Security | n/a |
| Printing | Not allowed |
| Copying | Not allowed |
| Read aloud | No Sys requirements Download reader |
| Devices | Samsung Tablet, Apple Ipad & Iphone, Barnes & Noble Nook, Kobo eReader, Aluratek Libre, Iliad, Nokia, Blackberry, Hanlin |
| Note | Excellent navigation features are available via Adobe such as bookmarks and a quick access table of contents. Text search is easily accessible. An Adobe DRM-protected file is different than a pdf file in that it uses Adobe DRM (Digital Rights Management) technology, which authors and publishers use to protect their content from illegal online distribution and to set certain privileges such as restrictions on copying and printing. |
Handbook of Asset and Liability Management: From Models to Optimal Return Strategies (The Wiley Finance Series)
Chapter One
The History of ALM
Scribitur historia ad narrandum, non ad probandum. (Quintilien)
It is not possible to present ALM history without presenting Banking industry history even if it is possible to make a parallel with the Insurance industry.
This Part is an opportunity to present the links between ALM and the other types of business such as investment management, hedge funds and financial directions of corporate industries, etc.
1.1 THE HISTORY OF THE BANKING INDUSTRY FROM ANTIQUITY TO THE MIDDLE AGES
1.1.1 Origins of banking
The origins of banking go back to antiquity. Historians discovered hints of banking activities dating from 3000 B.C. in Mesopotamia. The temples were places of trades and the priests used to take on the role of banker, taking money as deposits and lending money to the King or to the merchants. Temples were considered as the safest places where gold could be stored.
The first records of loans dating from the 18th century B.C. made by temple priests to merchants were discovered in Babylon.
Remember that in the Bible, Christ drives the moneychangers out of the temple
In Ancient Greece, the temples conducted not only loans and deposits but also currency exchange and validation of coinage. Each Greek city was independent and minted its own money. Moneychangers appeared in order to develop trade between cities.
The letter of credit made its appearance: in return for a payment, a moneylender in one Greek city would write a credit note and the client would cash the note i
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