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dognmnm · 2022年05月03日

lender的风险

NO.PZ2019012201000082

问题如下:

Securities lending carries risks that can offset the benefts. Which of following risks is considered as the main risk associated with Securities lending?

选项:

A.

market risk

B.

credit risk

C.

Liquidity risk

解释:

B is correct.

考点:Sources Of Return And Risk

Securities lending carries risks that can offset the benefts. The main risks are the credit quality of the borrower (credit risk) and the value of the posted collateral (market risk), although liquidity risk and operational risk are additional considerations.

我看原版书并没有对风险做排序, 可以把这几个lender的风险排个序吗? 我怕题目问最"不"需要担心的风险之类的, 或是第二大风险这种题目

1 个答案

笛子_品职助教 · 2022年05月04日

嗨,从没放弃的小努力你好:


原版书在securities lending 知识点下有段话:


从这段话中看出来,main risk 在原版书中定义为 credit risk和market risk。

liquidity risk和operational risk只是additional considerations.

从黄色内容看出, credit risk和market risk的优先级,高于liquidity risk和operational risk


从粉色线看出来,这么一段的篇幅,一直在强调credit risk。可以推测出,credit risk比market risk更重要。


教材对风险的排序确实比较模糊,那么就以这道题作为一个补充知识点来记忆一下。按照基础讲义89页,红框里的顺序来排序,credit risk在第一行,market risk在第二行,liquidity risk在第三行,operational risk在第四行。逐行排序。credit risk在第一行,最重要,market risk其次,liquidity risk排第三,operational risk排第四。


当然,按照原版书的说法,main risk是有两个,但是这题只给出一个选项,那么选出最重要的一个即可。



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虽然现在很辛苦,但努力过的感觉真的很好,加油!