20 March, 2012
Managing and mitigating CVA - where will it lead us?
Led by Jon Gregory, Counterparty Risk CONSULTANT
8:30 Registration and coffee
9:00 Background
- History of counterparty risk and CVA
- Benefits of CVA
- The impact of Basel III
- Default probability
- Credit exposure
10:30 Morning break
11:00 Complexities of CVA
- Incremental and marginal CVA
- Debt value adjustment (DVA)
- Wrong way risk
- Requirements for counterparty risk under Basel III/CRD 4
12:30 Lunch
13:30 Managing and Mitigating CVA
- CVA under collateral agreements (CSAs)
- OIS discounting and funding issues
- CVA Greeks
- The impact of DVA
- Practical hedging
15:00 Afternoon break
15:30 Central counterparties
- Rationale
- Multilateral netting
- The mechanics of trading through a CCP
- Margining and the loss waterfall
- Important CCP questions
- Will CCPs work?
17:00 End of the seminar
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