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Chapter 7
Risk Management for Changing Interest Rates: Asset-Liability
Management and Duration Techniques
Fill in the Blank Questions
1. The ___________________ view of assets and liabilities held that the amount and
types of deposits was primarily determined by customers and hence the key decision
a bank needed to make was with the assets.
Answer: asset management
2. Recent decades have ushered in dramatic changes in banking. The goal of
__________________ was simply to gain control of the banks sources of funds.
Answer: liability management
3. The__________________________ is the interest rate that equalizes the current
market price of a bond with the present value of the future cash flows.
Answer: yield to maturity (YTM)
4. The __________________ risk premium on a bond allows the investor to be compensated
for their projected loss in purchasing power from the increase in the prices of
goods and services in the future.
Answer: inflation
5. The __________________ shows the relationship between the time to maturity and the
yield to maturity of a bond. It is usually constructed using treasury securities
since they are assumed to have no default risk.
Answer: yield curve
6. The __________________ risk premium on a bond reflects the differences in the ease
and ability to sell the bond in the secondary market at a favorable price.
Answer: liquidity
7. __________________________ are those assets which mature or must be repriced within
the planning period.
Answer: Interest-sensitive assets
8. __________________________ is the difference between interest-sensitive assets and
interest-sensitive liabilities.
Answer: Dollar interest-se
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