HullRMFI2ndEdCh19金融风险管理.pptVIP

Types of Liquidity Risk Liquidity trading risk Liquidity funding risk Risk Management and Financial Institutions 2e, Chapter 19, Copyright ? John C. Hull 2009 * Liquidity Trading Risk Price received for an asset depends on The mid market price How much is to be sold How quickly it is to be sold The economic environment As we found in August 2007 transparency is factor that affects liquidity Risk Management and Financial Institutions 2e, Chapter 19, Copyright ? John C. Hull 2009 * Bid-Offer Spread As a Function of Quantity (Figure 19.1, page 387) Risk Management and Financial Institutions 2e,