Structured Credit Products: Credit Derivatives and Synthetic Securitisation
Structured credit products including synthetic collateralised debt obligations were the subject of considerable media scrutiny in the wake of the US mortgage market crash, as banks around the world suffered large losses on holdings in such products. At the same time, investors that had shorted these exposures using credit derivatives profited from the downturn in the market.As risk management tools, credit derivatives remain as important as ever Professor Moorad Choudhry’s best-selling book on credit derivatives brings readers up to date with developments in the market following the 2007–2008 financial crisis, and covers changes in the markets since then.This Second Edition provides an update on credit derivative products and their uses. New material is presented on: