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on 19 April 2008
Excellent reference work and guide for bankers
This is a comprehensive and high quality guide on bank asset and liability management, which should be essential reading for anyone working in commercial or investment banking. Professor Choudhry covers every aspect of importance in the field of bank ALM, including Treasury policy, liquidity management, money markets trading, securitisation and risk hedging. The author has a deep understanding of markets, as a practitioner I found most useful his analysis of the Libor term premium and the fair value of the swap spread. These are topics are of importance for Treasurers and money market desks, and I have not found them covered anywhere else. For me, the two chapters on Basel I and Basel II reg cap are the most accessible account of this topic I have read in any book or research work. There is also a large amount of product description, which is useful for Treasury desks that engage in balance sheet securitisation work (for ALM purposes). The accompanying CD-R contains two yield curve models which allowed me to work thru the yield curve chapters very easily. An excellent all-round refernce work - every banker should read this.
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on 16 December 2012
This 1000 page book is confusing and could have been written in 200. The section on ALM is only small while the others sections addressing derivatives are a bad mixture of poorly defined math and useless rambling. Disappointing.
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on 30 August 2010
This well written book has to be THE definitive book on Bank Asset and Liability Management. The author - Moorad Choudhry - writing style is very engaging.

The layout of the book is as follows
Part I - Banking business, bank capital and debt markets
Part II - Bank treasury asset-liability management
Part III - Financial instruments, applications and hedging
Part IV - Funding and balance-sheet management using securitisation and structured credit vehicles
Part V - Regulatory capital and Basel rules
Part VI - Treasury middle office operations
Part VII - Applications software enclosed with the book.

The book offers a strong theoretical base and systematically builds on concepts, yet is still very pratical and provides a accurate insight into "best practise" Bank ALM processes.

I found the Section IV on funding and balance sheet management using securitization and structured vehicles particularly useful. I was also impressed with Part I on banking business, bank capital and debt markets.

I highly recommend this book - either for those who are new to the banking profession / bank ALM or those who are veterans (like myself) and have decades of banking experience.
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on 17 December 2012
The book covers all necessary aspects in understanding the banking business model. I found it resourceful and well diversified. For many it might seem long, but it requires a more detailed approach in understanding the bank's capital structure, asset-liabilities management, while including different measurement and hedging tools. The first two parts are self-explanatory in terms of "why does the reader need to understand them". The third part includes probably the most debated concepts and products since 2007/08. Derivative instruments in money markets add to the complexity of the model and risk measurements such as VaR are relevant in the decision-making process.
For an interested student (and not only), the book is a very useful reference. I would recommend it.
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on 27 September 2011
I don't give a 5* rating only because it's to long and at some points confusing.
It's for people whp really know what happens in this desk not for people who are still learning.
Despite all this i recommend it since this is almost one of a kind in the subject portraited.
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on 7 January 2010
This is an excellent piece of work. Mr Choudray has put thought & effort into this product. It links fundamentals of ALM to hedging strategies, products & the reasoning behind their use for funding & balance sheet mgt. Definitely commendable.
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on 18 October 2014
Great book I recommend for any serious banker
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