Enterprise-wide asset and liability management: Issues, institutions, and models

Abstract

Publisher Summary This chapter defines enterprise risk management (ERM), describes a conceptual framework for an ERM strategy, and touches upon organizational issues. Asset and liability management (ALM) is then identified as a core activity of ERM for financial institutions. It discusses ALM for various financial institutions, and provides an overview of tools to support ALM activities. Enterprise risk management aligns a firm's business strategy with the risk factors of its environment in pursuit of business objectives. It is considered a well-grounded management strategy for corporations. The management of assets and liabilities is at the core of ERM for financial institutions. In this chapter, we discuss the general framework for ERM, and the role of ALM within this broader strategy. From the general concepts, we proceed to focus on specific financial institutions, and conclude with a discussion of modelling issues that arise in the enterprise-wide management of assets and liabilities.

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