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Turbulence, Crises and Risk Management

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Financial Intermediation in the 21st Century

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Abstract

Balance sheets are opaque concepts. In more than one way, the individual instruments in a balance sheet have no meaning by themselves. What is more, most large financial institutions carry a very large number of diverse instruments on their balance sheets, in many different branches and subsidiaries around the world. Even a careful analysis of financial tables and balance sheets will not show the exact positions and exposures the financial institution has taken. This is even before one can ask how one would value these positions.

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Author information

Authors and Affiliations

  1. Graduate School, City University of New York, USA

    Salih Neftci (teaches)

Authors
  1. Salih Neftci
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Editor information

Editors and Affiliations

  1. University of Lausanne, Switzerland

    Zuhayr Mikdashi (Professor of Banking and Financial Services) (Professor of Banking and Financial Services)

Copyright information

© 2001 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Neftci, S. (2001). Turbulence, Crises and Risk Management. In: Mikdashi, Z. (eds) Financial Intermediation in the 21st Century. Palgrave Macmillan, London. https://doi.org/10.1057/9780230294127_23

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