Top positive review
6 people found this helpful
Excellent necessity for the markets
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.