主题：茗谈189：妈已经服 -- 本嘉明

最近在看FRM的书，正好和这页相关。当然刚开始看，连皮毛还没看懂。这里只能胡诌一下了，错了莫怪。

金融行业把风险分为很多种，大致可以归纳成四大类：Market Risk,Credit Risk, Operational Risk, Business, Strategic & Reputation Risks。这一页应该就是关于Credit Risk的。

对Credit Risk，可以用一些Transfer Machanisms来把风险分散出去，比如：

1. Purchasing insurance from a third-party guarantor/under- writer

2. Netting of exposures to counterparties

3. Marking-to-market/margining

4. Requiring collateral be posted

5. Termination/Put option

6. Reassignment of a credit exposure to another party in the event of some predefined trigger

表中有”Counterparty credit risk“这样一列，俺猜这一页貌似和#2相关。这一部分的解释是：

Netting of exposures to counterparties: This is done by looking at the difference between the asset and liability values for each counterparty and having in place documentation saying that these exposures can be netted against each other. Otherwise, if a counterparty goes bankrupt, the value of the obligation that counterparty has to the bank vanishes while the bank itself remains liable for any funds due to the counterparty