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| Name | Central Clearing (FRM Part 2 – Book 2 – Credit Risk Measurement and Management – Ch 18) |
| Video Uploader | Video From AnalystPrep |
| Upload Date | This Video Uploaded At 12-04-2024 13:00:06 |
| Video Discription | For FRM (Part I & Part II) video lessons, study notes, question banks, mock exams, and formula sheets covering all chapters of the FRM syllabus, click on the following link: https://analystprep.com/shop/unlimited-package-for-frm-part-i-part-ii/ *AnalystPrep is a GARP-Approved Exam Preparation Provider for FRM Exams* For all other courses, including CFA, actuarial, and graduate admission products, click here: https://analystprep.com/courses/ After completing this reading, you should be able to: - Define a central counterparty (CCP) and describe the mechanics of central clearing. - Explain the concept of novation under central clearing. - Define netting, multilateral offset, and compression and provide examples of each. - Describe the application and estimation of margin and default funds under central clearing. - Discuss the risks faced by a CCP and the ways it manages its exposures. - Provide examples of a loss waterfall. - Explain the different methods of managing the default of one or more members of a CCP. - Compare bilateral and central clearing. - Compare initial margin and default fund requirements for clearing members in relation to loss coverage, cost of clearing, and moral hazard. - Describe the advantages and disadvantages of central clearing. |
| Category | Education |
| Tags | financial risk manager | economic capital | credit risk | frm | frm level 2 | frm part ii | frm video lectures | frm video lessons | frm 2024 | CREDIT RISK MANAGEMENT | frm 2025 | central counterparty | novation | central clearing | netting | multilateral offset | compression | loss waterfall | bilateral clearing | initial margin | default fund | Clearing Costs | Clearing Members | Initial Margin | Variation Margin | Default Fund | Counterparty Risk | Margin Risk | Liquidity Risk | Margin Period |
