Chap009金融机构管理课后题答案.docxVIP

Chapter Nine Interest Rate Risk II Chapter Outline Introduction Duration A General Formula for Duration The Duration of Interest Bearing Bonds The Duration of a Zero-Coupon Bond The Duration of a Consol Bond (Perpetuities) Features of Duration Duration and Maturity Duration and Yield Duration and Coupon Interest The Economic Meaning of Duration Semiannual Coupon Bonds Duration and Immunization Duration and Immunizing Future Payments Immunizing the Whole Balance Sheet of an FI Immunization and Regulatory Considerations Difficulties in Applying the Duration Model Duration Matching can be Costly