FRM Digital Library-FRM Core Readings,FRM Chapters,FRM Books,FRM Online

GARP Digital Library

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FRM Readings

2013 FRM Part I Books

Includes all 2013 FRM Part I readings

Candidate Cost: US$250, plus shipping

This is only available as a set of books.

2013 FRM Part II Books

Includes all 2013 FRM Part II readings, excluding some selected Free Readings

Candidate Cost: US$295.00, plus shipping

This is only available as a set of books.

Freely Available Readings from the 2013 FRM Part I Study Guide

Foundations of Risk Management

"Risk Taking: A Corporate Governance Perspective," (International Finance Corporation, World Bank Group, June 2012.).

René Stulz, "Risk Management Failures: What are They and When Do They Happen?" Fisher College of Business Working Paper Series (Oct. 2008).

GARP Code of Conduct.

Valuation and Risk Models

"Principles for Sound Stress Testing Practices and Supervision" (Basel Committee on Banking Supervision Publication, May 2009).

Freely Available Readings from the 2013 FRM Part II Study Guide

Market Risk Measurement and Management

"Messages from the Academic Literature on Risk Measurement for the Trading Book", Basel Committee on Banking Supervision, Working Paper No. 19, Jan 2011.

Credit Risk Measurement and Management

Adam Ashcroft and Til Schuermann, "Understanding the Securitization of Subprime Mortgage Credit," Federal Reserve Bank of New York Staff Reports, no. 318 (March 2008).

Operational and Integrated Risk Management

"Range of practices and issues in economic capital frameworks" (Basel Committee on Banking Supervision Publication, March 2009).

Brian Nocco and René Stulz, "Enterprise Risk Management: Theory and Practice," Journal of Applied Corporate Finance 18, No. 4 (2006): 8 - 20.

Duffie, Darrell, 2010. "Failure Mechanics of Dealer Banks." Journal of Economic Perspectives 24:1, 51-72.

"Principles for the Sound Management of Operational Risk," (Basel Committee on Banking Supervision Publication, June 2011).

"Observations on Developments in Risk Appetite Frameworks and IT Infrastructure," Senior Supervisors Group, December 2010.

Til Schuermann. "Stress Testing Banks," April 2012.

Basel Readings

"Basel II: International Convergence of Capital Measurement and Capital Standards: A Revised Framework - Comprehensive Version" (Basel Committee on Banking Supervision Publication, June 2006).

"Basel III: A global regulatory framework for more resilient banks and banking systems" (Basel Committee on Banking Supervision Publication, June 2011).

"Basel III: International framework for liquidity risk measurement, standards and monitoring" (Basel Committee on Banking Supervision Publication, December 2010).

"Revisions to the Basel II market risk framework - Updated as of 31 December 2010" (Basel Committee on Banking Supervision Publication, February 2011).

"Operational Risk - Supervisory Guidelines for the Advanced Measurement Approaches," (Basel Committee on Banking Supervision Publication, June 2011).

Nadine Gatzert, Hannah Wesker, "A Comparative Assessment of Basel II/III and Solvency II," Working Paper, Friedrich-Alexander-University of Erlangen-Nuremberg, Version: October 2011.

Risk Management and Investment Management

Stephen Brown, William Goetzmann, Bing Liang, Christopher Schwarz, "Trust and Delegation", May 28, 2010.

Greg N. Gregoriou and François-Serge Lhabitant, "Madoff: A Riot of Red Flags," December, 2008.

Andrew W. Lo, "Risk Management for Hedge Funds: Introduction and Overview", Financial Analysts Journal, Vol. 57., No. 6 (Nov. - Dec., 2001), pp. 16-33.

Current Issues in Financial Markets

Jaime Caruana and Stefan Avdjiev, "Sovereign creditworthiness and financial stability: an international perspective." Banque de France Financial Stability Review, No. 16 (April 2012), pp. 71-85.

Li Lian Ong and Martin Cihák, "Of Runes and Sagas: Perspectives on Liquidity Stress Testing Using an Iceland Example." IMF Working Paper WP/10/156, July 2010.

Andrew G. Haldane and Benjamin Nelson, "Tails of the unexpected" Speech from "The Credit Crisis Five Years On: Unpacking the Crisis" conference at the University of Edinburgh (Bank of England, June 8 2012.)

Andrew G. Haldane and Vasileios Madouros, "The Dog and the Frisbee." Speech from the Federal Reserve Bank of Kansas City's 36th Economic Policy Symposium (Bank of England, August 31 2012.)

Gerald Rosenfield, Jay Lorsch, Rakesh Khurana (eds.), Challenges to Business in the Twenty-First Century (Cambridge: American Academy of Arts & Sciences, 2011), Chapter 2, "Challenges of Financial Innovation" by Myron S. Scholes.

Ananth Madhavan, "Exchange-Traded Funds, Market Structure and the Flash Crash," October 2011.