38

531-534

4

 

Risk Books (Visit publisher website)

2003

English

 

 

 

Non-Technical

 

 

Risk management, case studies, regulatory & legal issues, counterparty risk, capacity, interest rate swaps, leverage, default

 

In 1989 a nervous district auditor pulled the plug on the Hammersmith and Fulham Local Authority’s massive swaps book. This was just the start of the notorious Hammersmith and Fulham debacle. The subsequent default and legal battle, which ultimately involved more than 130 UK local authorities and 75 banks, cost the banks concerned an estimated L750 million, and focused derivatives providers’ minds on legal risk. The case drew out two issues. First, the question of capacity: whether local authorities had the power to enter into the deals. Second, the courts examined the extent to which counterparties can recover payments made under swap contacts later found to be void.

 

If you are interested in purchasing the book, please click here.

 

From the Publisher:
Covers the theories, models, measures, applications, software and regulation issues that have shaped the industry and offers an abundance of realistic and considered future perspectives
Includes new perspectives on various risk related issues as well as new case-studies on derivatives disasters and rogue trading
Each contributing author represents the pinnacle of their respective field including: John Hull, Mark Rubinstein and Robert Jarrow, Paul Samuelson and Robert Merton
Features anecdotal autobiographies from leading risk and finance figures in the field including, Nobel prize winners
A single-source volume covering every major theory and model - the definitive reference tool for the risk management professional or academic