{"id":2579,"date":"2020-02-06T15:23:32","date_gmt":"2020-02-06T14:23:32","guid":{"rendered":"https:\/\/www.financetrainer.com?page_id=2579"},"modified":"2020-02-27T11:15:32","modified_gmt":"2020-02-27T10:15:32","slug":"alm-forum","status":"publish","type":"page","link":"https:\/\/www.financetrainer.com\/en\/alm-forum\/","title":{"rendered":"ALM Forum"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling fusion-equal-height-columns\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_3 1_3 fusion-one-third fusion-column-first\" style=\"--awb-bg-size:cover;width:33.333333333333%;width:calc(33.333333333333% - ( ( 4% + 4% ) * 0.33333333333333 ) );margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-column-content-centered\"><div class=\"fusion-column-content\"><div class=\"fusion-text fusion-text-1\"><p>The financial crisis laid bare flaws in quantifying and managing risks in the banking system which led to new challenges. Asset liability management (ALM) in particular has become a most vital part in every bank.<\/p>\n<p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a><\/p>\n<\/div><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_3 1_3 fusion-one-third\" style=\"--awb-bg-position:center top;--awb-bg-size:cover;width:33.333333333333%;width:calc(33.333333333333% - ( ( 4% + 4% ) * 0.33333333333333 ) );margin-right: 4%;\"><div class=\"fusion-column-wrapper lazyload fusion-column-has-shadow fusion-flex-column-wrapper-legacy fusion-column-has-bg-image\" data-bg-url=\"https:\/\/www.financetrainer.com\/wp-content\/uploads\/2019\/12\/financetrainer.com-alm-forum-22-de.jpg\" data-bg=\"https:\/\/www.financetrainer.com\/wp-content\/uploads\/2019\/12\/financetrainer.com-alm-forum-22-de.jpg\"><div class=\"fusion-image-element in-legacy-container\" style=\"--awb-max-width:100%;--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-none\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-orig-src=\"https:\/\/www.financetrainer.com\/wp-content\/uploads\/ALM_Forum_22_EN.jpg\" alt class=\"lazyload img-responsive wp-image-2362\"\/><\/span><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_3 1_3 fusion-one-third fusion-column-last\" style=\"--awb-bg-size:cover;width:33.333333333333%;width:calc(33.333333333333% - ( ( 4% + 4% ) * 0.33333333333333 ) );\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-column-content-centered\"><div class=\"fusion-column-content\"><div class=\"fusion-title title fusion-title-1 fusion-sep-none fusion-title-text fusion-title-size-four\"><h4 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;--fontSize:24;--minFontSize:24;line-height:1.3;\">Do you already have a ALM Forum Account?<\/h4><\/div><div class=\"fusion-text fusion-text-2\"><p>Log in by clicking the button below and enjoy our Forum!<\/p>\n<\/div><div class=\"fusion-button-wrapper\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-1 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"#\" data-toggle=\"modal\" data-target=\".fusion-modal.Login\"><span class=\"fusion-button-text awb-button__text awb-button__text--default\">ALM Forum Login<\/span><\/a><\/div><div class=\"fusion-modal modal fade modal-1 Login ce-login-modal\" tabindex=\"-1\" role=\"dialog\" aria-labelledby=\"modal-heading-1\" aria-hidden=\"true\" style=\"--awb-border-color:#ebebeb;--awb-background:#f6f6f6;\"><div class=\"modal-dialog modal-lg\" role=\"document\"><div class=\"modal-content fusion-modal-content\"><div class=\"modal-header\"><button class=\"close\" type=\"button\" data-dismiss=\"modal\" aria-hidden=\"true\" aria-label=\"Close\">&times;<\/button><h3 class=\"modal-title\" id=\"modal-heading-1\" data-dismiss=\"modal\" aria-hidden=\"true\">Login or registration<\/h3><\/div><div class=\"modal-body fusion-clearfix\">\n\n<div class=\"woocommerce\"><\/div>\n\n<\/div><div class=\"modal-footer\"><button class=\"fusion-button button-default button-medium button default medium\" type=\"button\" data-dismiss=\"modal\">Close<\/button><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-background-position:left top;--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-bottom:120px;--awb-margin-top:3%;--awb-border-sizes-top:0px;--awb-border-sizes-bottom:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_1_6 1_6 fusion-one-sixth fusion-column-first fusion-no-small-visibility\" style=\"--awb-bg-size:cover;width:13.3333%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-4 fusion_builder_column_2_3 2_3 fusion-two-third\" style=\"--awb-bg-size:cover;--awb-margin-top:3%;--awb-margin-bottom:30px;width:65.3333%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-3\"><h2 style=\"text-align: center;\">Topics<\/h2>\n<\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator\" style=\"margin-left: auto;margin-right: auto;margin-top:0px;margin-bottom:30px;width:100%;max-width:100px;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:#213d65;border-color:#213d65;border-top-width:2px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-5 fusion_builder_column_1_6 1_6 fusion-one-sixth fusion-column-last fusion-no-small-visibility\" style=\"--awb-bg-size:cover;width:13.3333%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-6 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last ce-block-faq-list\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><style type=\"text\/css\">.fusion-faqs-wrapper #accordian-1 .fusion-panel { border-color:#e0dede; }.fusion-faqs-wrapper #accordian-1 .fusion-panel:hover{ border-color: #e0dede; }.fusion-accordian #accordian-1 .panel-title a .fa-fusion-box:before{ font-size: 13px;width: 13px;}.fusion-accordian #accordian-1 .panel-title a .fa-fusion-box{ color: #ffffff;}.fusion-accordian  #accordian-1 .panel-title a{font-family:\"Inter\";font-style:normal;font-weight:700;}.fusion-accordian  #accordian-1 .panel-title a:not(:hover){}.fusion-accordian  #accordian-1 .toggle-content{font-family:\"Inter\";font-style:normal;font-weight:400;}.fusion-accordian #accordian-1 .fa-fusion-box { background-color: #37bfb1 !important;border-color: #37bfb1 !important;}.fusion-accordian #accordian-1 .panel-title a:hover,.fusion-accordian #accordian-1 .panel-title a.hover { color: #0b75ba;}.fusion-faq-shortcode .fusion-accordian #accordian-1 .fusion-toggle-boxed-mode:hover .panel-title a { color: #0b75ba;}.fusion-accordian #accordian-1 .panel-title .active .fa-fusion-box,.fusion-accordian #accordian-1 .panel-title a:hover .fa-fusion-box,.fusion-accordian #accordian-1 .panel-title a.hover .fa-fusion-box { background-color: #0b75ba!important;border-color: #0b75ba!important;}<\/style><div class=\"fusion-faq-shortcode\" style=\"\"><div class=\"fusion-faqs-wrapper\"><div class=\"accordian fusion-accordian\"><div class=\"panel-group \" id=\"accordian-1\"><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-8509 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-8509\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-8509\" href=\"#collapse-1-8509\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 28 |  LIBOR Transition \u2013 The Current Picture (August 2022)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-8509\" aria-labelledby=\"faq_1-8509\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-1 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-7 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-4\"><p>The manipulation of reference interest rates, including LIBOR and EURIBOR, which was uncovered in 2011, served as motivation for IOSCO (International Organisation of Securities Commissions) to initiate a reform of benchmarks. In 2016, the European Union subsequently adopted the Benchmark Regulation (BMR). Critical benchmarks had to be replaced by the end of 2021 &#8211; these included EURIBOR, LIBOR and EONIA. All interest-linked products such as variable-rate securities, loans and derivatives are affected by a change in the benchmarks.<\/p>\n<\/div><div class=\"fusion-text fusion-text-5 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-6 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas<br \/>\n<a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-7 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-8025 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-8025\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-8025\" href=\"#collapse-1-8025\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 27 |  Sustainability risks and their influence on the risk management and ICAAP of banks (July 2021)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-8025\" aria-labelledby=\"faq_1-8025\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-2 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-8 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-8\"><p>Central banks and supervisory authorities are calling for sustainability risks to be taken into<br \/>\naccount in banks\u2018 risk management and in monitoring financial market stability. This means<br \/>\nthat banks are required to systematically take ESG (Environment \/ Social \/ Governance) risks<br \/>\ninto account when aligning their business models in their organizational structures, as well<br \/>\nas continuously recording and managing ESG risks and their effects on capital \/ earnings and<br \/>\nliquidity.<br \/>\nThe new EBA action plan (EBA \u201eDiscussion Paper on Management and Supervision of ESG<br \/>\nRisks for Credit Institutions\u201c January 2021) and the corresponding ECB guidelines (\u201eGuide<br \/>\non climate related and environmental risks\u201c November 2020) are clear signs that the current<br \/>\nfocus of supervision is on managing ESG risks.<\/p>\n<\/div><div class=\"fusion-text fusion-text-9 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-10 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas<br \/>\n<a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-11 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-7516 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-7516\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-7516\" href=\"#collapse-1-7516\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 26 | Basic Strategies of ALM Interest Rate Risk Management (December 2020)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-7516\" aria-labelledby=\"faq_1-7516\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-3 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-9 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-12\"><p>We now have a special issue for you:<\/p>\n<ul>\n<li>This booklet with 8 of the most important interest risk strategies<\/li>\n<li>A link to the <a href=\"https:\/\/lnkd.in\/dA8sPHD\">i28 Interest Risk Simulation<\/a> in order to apply ALM interest risk strategies in practice<\/li>\n<li>An &#8220;i28 Proof of Achievement&#8221; at the end of the i28 Tutorial to prove your strategy knowledge<\/li>\n<\/ul>\n<\/div><div class=\"fusion-text fusion-text-13 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-14 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas<br \/>\n<a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-15 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-7174 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-7174\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-7174\" href=\"#collapse-1-7174\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 25 | How much are the calculated NSFR costs? (July 2020)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-7174\" aria-labelledby=\"faq_1-7174\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-4 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-10 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-16\"><p>In CRR II, the Commission is making the specification of the requirements for the NSFR. After the proposal was approved by the Council on June 7th, 2019 (EU 2019\/876) and the new provisions become mandatory two years after its adoption, the standard will be mandatory for banks to report and comply with from July 2021. It should be noted that this is an EU regula-<br \/>\ntion and therefore, this period applies directly in all member states.<\/p>\n<p>In this article, we would like to deal with the amount of additional costs in the calculation led by the NSFR and present appropriate approaches.<\/p>\n<\/div><div class=\"fusion-text fusion-text-17 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-18 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas<br \/>\n<a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-19 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2600 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2600\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2600\" href=\"#collapse-1-2600\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 24 | Interest risk impact of optionalities in the banking book (November 2019)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2600\" aria-labelledby=\"faq_1-2600\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-5 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-11 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-20\"><p>On 19 July 2018, the EBA adopted its final guidelines on minimum interest rate risk management standards in the banking book (\u201eGuidelines for the Management of Interest Rate Risk arising from non-trading book positions\u201c EBA\/GL\/2018\/2). In this article we want to focus on the impact of interest options and the methods for taking into account implicit and explicit options in the risk measurement. Doing so, it is possible to clarify \u2013 with respect of prudential supervision \u2013 the amount by which interest rate option increase or reduce the risk in the banking book and, if so, redefine the bank\u2018s interest rate risk strategy.<\/p>\n<\/div><div class=\"fusion-text fusion-text-21 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-22 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-23 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2701 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2701\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2701\" href=\"#collapse-1-2701\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 23 | Requirements for IRRBB implementation 2019 (June 2019)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2701\" aria-labelledby=\"faq_1-2701\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-6 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-12 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-24\"><p>On 19 July 2018, the EBA adopted its final guidelines on minimum standards for interest rate risk management published in the banking book (\u201eGuidelines for the Management of Interest Rate Risk arising from non-trading book positions\u201c EBA\/GL\/2018\/2).<\/p>\n<p>In this article, we will try to give an overview of the requirements that the IRRBB implementation 2019 entails.<\/p>\n<\/div><div class=\"fusion-text fusion-text-25 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-26 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-27 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2708 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2708\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2708\" href=\"#collapse-1-2708\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 22 | Earnings Impact from Interest Risk Management (November 2018)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2708\" aria-labelledby=\"faq_1-2708\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-7 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-13 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-28\"><p>Interest rate risk management in Asset Liability Management \/ ALM \u2013 is it worth the effort? Does the interest rate risk have a significant effect on the bank\u2018s earnings? The supervisor says YES \u2013 intensifies the regulations and warns against rising interest rates. We also say YES \u2013 because every risk has also a potential to improve profits. In this article, we try to quantify the earnings potential of a (conservative) interest rate risk management and we describe the prerequisites and resources for raising the potentials.<\/p>\n<\/div><div class=\"fusion-text fusion-text-29 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-30 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-31 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2713 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2713\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2713\" href=\"#collapse-1-2713\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 21 | ICAAP 2018: Bank Management under future stress conditions (May 2018)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2713\" aria-labelledby=\"faq_1-2713\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-8 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-14 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-32\"><p>The ECB has published its ICAAP consultation guide and urges for implementation: the guide will be finalized in the second half of 2018 and enforced in 2019 already as the basis of the banks\u2019 SREP assessment. Thus, the banks must implement it in 2018.<\/p>\n<p>This also means the consideration of future legal projects within the ICAAP planning and in the stress case analysis. Conclusion: Control in the 99% confidence interval is long history and the Basel 3 maxim \u201eControl under stress\u201c is replaced by \u201eControl under stress \u2013 today and in the future\u201c.<\/p>\n<\/div><div class=\"fusion-text fusion-text-33 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-34 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-35 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2718 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2718\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2718\" href=\"#collapse-1-2718\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 20 | Own funds planning under MREL\/TLAC (December 2017)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2718\" aria-labelledby=\"faq_1-2718\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-9 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-15 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-36\"><p>In order to increase security in equity and debt capital planning, the banking sector has been waiting for a long time for concrete implementation proposals for the MREL specifications. As usual, Basel (here with the corresponding TLAC specifications) sets the direction.<\/p>\n<p>In May 2016 the EU Regulation EU 2016\/1450 sets the framewor for the Minimum Requirements for Eligible Liabilities (MRELs), yet the MREL ratio \u2013 to be fixed invidually per bank \u2013 is still missing for most institutions.<\/p>\n<p>In the current edition of the ALM Forum we give an overview of the concept and the dimension of the MREL requirements and analyze the consequences in the equity and debt capital planning for different types of banks.<\/p>\n<\/div><div class=\"fusion-text fusion-text-37 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-38 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-39 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2723 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2723\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2723\" href=\"#collapse-1-2723\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 19 | CRR2 &#8211; The end of funds in the banking book (June 2017)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2723\" aria-labelledby=\"faq_1-2723\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-10 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-16 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-40\"><p>Once the CRR2 regulations are enforced, banks will have to realign their investment in funds completely. Reasons are the <strong>new capital adequacy<\/strong> <strong>rules for funds<\/strong> (Article 132 CRR2) and the new regulation for <strong>the separation of the banking and trading book<\/strong> (Article 104 CRR2). The Regulation follows two principles: individual exposures must be identifiable <strong>(Look Through)<\/strong> and investment funds may not replace an outsourced trading book.<\/p>\n<\/div><div class=\"fusion-text fusion-text-41 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-42 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-43 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2728 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2728\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2728\" href=\"#collapse-1-2728\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 18 | The EU-Commission\u2019s final specification of the NSFR within the CRR  (April 2017)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2728\" aria-labelledby=\"faq_1-2728\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-11 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-17 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-44\"><p>The EU-Commission published its final proposal for the implementation of the still unaddressed Basel III Net Stable Funding Ratio (NSFR) on 23rd of November 2016.\u00a0<strong>Since credit institutions lack sufficient experience in NSFR-management it is of crucial importance for them to introduce a working mechanism prior to the compulsory deadline.<\/strong>\u00a0Moreover, in contrast to the LCR the NSFR does not allow last-minute correction measures in order to satisfy the minimum requirements.<\/p>\n<p><strong>Rather the NSFR-Ratio leads to a medium- and long-term restructuring of the balance sheet with a potential impact on the business model.<\/strong>\u00a0This renders the NSFR a more relevant liquidity requirement from a corporate management perspective than the short-term LCR. Our ALM Forum No. 18 provides an overview of the current European implementation requirements and the respective deviations from the Basel standards.<\/p>\n<\/div><div class=\"fusion-text fusion-text-45 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-46 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-47 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2732 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2732\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2732\" href=\"#collapse-1-2732\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 17 | ALM Regulations &#8211; Basel III Implementation Status (January 2017)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2732\" aria-labelledby=\"faq_1-2732\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-12 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-18 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-48\"><p><strong>The compliance with the Basel 3 requirements on equity, liquidity and disclosure, entering into force between 2016 and 2019, will constitute a major challenge for banks.<\/strong> The changing regulatory framework influences strategies for the Asset Liability Management (ALM) both directly and indirectly, which makes it essential to keep an eye on the content and implementation schedule. The aim of our December 2016 issue of the ALM Forum is, therefore, to provide an overview regarding the content and status of implementation.<\/p>\n<\/div><div class=\"fusion-text fusion-text-49 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-50 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-51 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2739 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2739\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2739\" href=\"#collapse-1-2739\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 16 | Impacts of IFRS 9 on the accounting of financial instruments (September 2016)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2739\" aria-labelledby=\"faq_1-2739\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-13 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-19 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-52\"><p>IFRS 9 results in changes for the calculation of Value Adjustments from 1st January 2018. Additionally, the Basel Committee of Banking Supervision (BCBS) has set the framework for the new standard\u2019s implementation in the banking sector with its \u201cGuidance on credit risk and accounting for expected losses\u201d in December 2015. These changes will have a significant impact on future profit and loss statements, equity, credit risk assessments and the systemic requirements for banks.<\/p>\n<p>Our ALM Forum provides an overview of the changes together with an example of the impact on profit and losses and concludes with consequences for banks.<\/p>\n<\/div><div class=\"fusion-text fusion-text-53 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-54 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-55 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2744 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2744\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2744\" href=\"#collapse-1-2744\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 15 | Standard approach for the quantification of the credit spread risks for the banking book in the ICAAP (June 2016)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2744\" aria-labelledby=\"faq_1-2744\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-14 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-20 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-56\"><p>Today we are presenting the standard approach for the calculation of the credit spread risk within the ICAAP. It is derived from the BIS standards for the measurements of market risks in the trading book.<\/p>\n<p>Please let us know whether the results of the example porfolio within this paper meet your observations in practise.<\/p>\n<\/div><div class=\"fusion-text fusion-text-57 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-58 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-59 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2748 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2748\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2748\" href=\"#collapse-1-2748\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 14 | Consequences of the BIS Standards \u201eMinimum Capital Requirements for Market Risk\u201c for Asset Liability Management (March 2016)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2748\" aria-labelledby=\"faq_1-2748\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-15 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-21 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-60\"><p>In January 2016 the BIS published its final standards for the new capital requirements regarding market risk in the trading book.<\/p>\n<ul>\n<li>The new allocation criteria for trading and banking book positions can lead to an increased trading book.<\/li>\n<li>Additional pressure arises to book hedging positions under the IFRS Hedge Accounting standards.<\/li>\n<li>A new standard approach for measuring Credit Spread Risk, which has the potential to become the standard for Credit Spread Risk measurement.<\/li>\n<\/ul>\n<\/div><div class=\"fusion-text fusion-text-61 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-62 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-63 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2752 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2752\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2752\" href=\"#collapse-1-2752\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 13 | The Organisation of ALM \/ Total Bank Management (TBM) (December 2015)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2752\" aria-labelledby=\"faq_1-2752\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-16 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-22 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-64\"><p>When managing the banking book, the committee structure represents the usual form of implementation regarding the organisational structure. An essential decision authority goes along with the committees, which has to be clearly structured.<\/p>\n<p>Considering Asset-Liability-Management and Total Bank Management as individual entities is a crucial point in this discussion, since these terms are usually used synonymously. In an all-encompassing approach these terms depict different target-topics.<\/p>\n<\/div><div class=\"fusion-text fusion-text-65 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-66 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-67 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2756 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2756\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2756\" href=\"#collapse-1-2756\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 12 | New EBA Guidelines on the Management of Interest Rate Risk in the Banking Book (July 2015)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2756\" aria-labelledby=\"faq_1-2756\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-17 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-23 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-68\"><p>In recent years regulatory requirements regarding risk measurement approaches have been tightened in almost all risk categories. Interest rate risks within the banking book, however, remained untouched until now. In order to make interest risk in the banking book more transparent and internationally comparable, EBA has published the \u201cGuidelines on the management of Interest rate risk arising from non-trading activities\u201d in May 2015. The standard introduces new regulations for the interest rate risk in the banking book. All banks in the EU have to implement these Guidelines by 01.01.2016.<\/p>\n<p>A highly interesting topic \u2013 especially for banks where the interest gap contribution of the banking book is a substantial part of the net interest income.<\/p>\n<p>&nbsp;<\/p>\n<\/div><div class=\"fusion-text fusion-text-69 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-70 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-71 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2761 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2761\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2761\" href=\"#collapse-1-2761\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 11 | Fully loaded Equity \u2013the challenge in the total bank management (May 2015)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2761\" aria-labelledby=\"faq_1-2761\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-18 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-24 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-72\"><p>What does \u201cFully Loaded\u201d mean in the context of the continually increasing capital requirements for the individual bank? This question has to be clarified by the bank management taking into account all currently known and expected regulations. The task of ALM \u2013 the overall bank management \u2013 will be to steer the bank consistently with the agreed goal. In the current issue of the ALM Forum we provide a comprehensive overview on the subject \u201cexpected capital requirements\u201d as well as arguments for the goals.<\/p>\n<\/div><div class=\"fusion-text fusion-text-73 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-74 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-75 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2765 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2765\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2765\" href=\"#collapse-1-2765\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 10 | Final EU &#8211; LCR provisions in the finishing straight (December 2014)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2765\" aria-labelledby=\"faq_1-2765\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-19 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-25 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-76\"><p>The changes in the LCR calibration impose a re-designing of the liquidity strategies in the banks. Our article concretely describes the most important changes in the final LCR regulation.<\/p>\n<p>Especially the calculation of the LCR Ratio has become more complex due to multiple constraints introduced. In our article we show an example of the calculation of the recognised high liquid assets \u2013 the current regulation will be introduced in our ALM decision trainings and ALM Update Workshops in spring 2015.<\/p>\n<\/div><div class=\"fusion-text fusion-text-77 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-78 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-79 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2805 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2805\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2805\" href=\"#collapse-1-2805\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 9 | Asset encumbrance as a new challenge in ALM (October 2014)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2805\" aria-labelledby=\"faq_1-2805\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-20 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-26 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-80\"><p>Both the intensified use of collaterals (repos, covered bonds, ECB refinancing, margins with derivatives) as well as the priority ranking of state-guaranteed retail deposits in the new EU resolution regime lead to shrinking volumes of assets available to cover unsecured funds in case of liquidation. Therefore, banks (and the ALM) have to start to actively manage the asset encumbrance. In this article we will present and discuss the different alternatives available for calculating the asset encumbrance of banks.<\/p>\n<\/div><div class=\"fusion-text fusion-text-81 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-82 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-83 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2772 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2772\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2772\" href=\"#collapse-1-2772\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 8 | New framework of IFRS 9 (2013) for fair value hedge accounting of interest rate risks (June 2014)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2772\" aria-labelledby=\"faq_1-2772\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-21 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-27 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-84\"><p>The different valuation methods of banking book positions are resulting in undesired fluctuations of the P&amp;L result. IAS 39 provided a framework (hedge accounting) to deal with and offset these P&amp;L result fluctuations. However, the strict rules for hedge accounting often limited the implementation of appropriate hedging strategies. With the new standard IFRS 9, the points of critics of the industry has been taken into account, trying to make the framework of hedge accounting more practical. Especially, the risk management strategy has become more important and is assigned a key factor in IFRS 9 hedge accounting. The following article tries to gives an overview of the most remarkable changes of IFRS 9 compared to IAS 39.<\/p>\n<\/div><div class=\"fusion-text fusion-text-85 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-86 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-87 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2776 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2776\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2776\" href=\"#collapse-1-2776\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 7 | Result measurement of the bond portfolio (credit spread management) (April 2014)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2776\" aria-labelledby=\"faq_1-2776\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-22 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-28 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-88\"><p>The increasing credit spread volatility as a result of increasing bond portfolios at banks requires the quantification of credit spread risk to avoid undesired effects in the P&amp;L result. For that purpose it is necessary to separate the credit spread risk from the interest risk position of the bond, to recognize term-time valuation results in the P&amp;L in a clean manner and to measure credit spread risk (on a portfolio basis). The article presents methods of credit spread calculation as well as the reconciliation of the credit spread risk result with the P&amp;L result.<\/p>\n<\/div><div class=\"fusion-text fusion-text-89 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-90 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-91 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2780 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2780\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2780\" href=\"#collapse-1-2780\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 6 | Methodically clean integration of rollover transactions into (fixed) rate ALM positions (January 2014)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2780\" aria-labelledby=\"faq_1-2780\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-23 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-29 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-92\"><p>Using different interest rate curves in customer business and ALM\/risk management may lead to \u201cmanagement mistakes\u201d as well as adverse effects on the bank result. Another issue are the liquidity costs of the pool banks contained in the EURIBOR\/LIBOR rates, which make it impossible to cleanly calculate and manage interest and liquidity risk. The solution is to price the basis swap costs of the individual basis interest curves into the corresponding products and to adopt the EONIA swap curve as interest transfer price. The article deals with these bank management issues and shows a workable solution illustrated with calculation examples.<\/p>\n<\/div><div class=\"fusion-text fusion-text-93 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-94 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-95 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2784 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2784\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2784\" href=\"#collapse-1-2784\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 5 | Deriving liquidity costs and their consequences for management (December 2013)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2784\" aria-labelledby=\"faq_1-2784\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-24 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-30 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-96\"><p>The management of liquidity risk and the necessary allocation of liquidity costs has gained in importance since the financial crisis \u2013 not only due to new regulatory requirements, but also from an economic point of view in bank management. Besides the calculation of the stress capital commitment, this requires the transparent derivation of the liquidity curve, allowing ALM to manage liquidity risk and to allocate liquidity costs to their respective causes. The article gives an overview on the requirements, the result-neutral calculation as well as the influencing factors for allocating liquidity costs.<\/p>\n<\/div><div class=\"fusion-text fusion-text-97 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-98 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-99 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2789 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2789\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2789\" href=\"#collapse-1-2789\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 4 | Transfer prices for amortizing and annuity paying products and consistent presentation of the ALM and P&#038;L result (September 2013)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2789\" aria-labelledby=\"faq_1-2789\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-25 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-31 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-100\"><p>Interest and liquidity risk management of the banking book by ALM are especially challenging for non-bullet loans or deposits. Using the simple average of reference rates results in undesired customer margin volatilities, due to constant capital repayment until maturity. This drawback may be avoided by using term weighted tranches\/reference rates. The article gives an overview of the two approaches of transfer price calculation including the corresponding advantages and disadvantages. Finally, the impact on the customer business and ALM result is presented.<\/p>\n<\/div><div class=\"fusion-text fusion-text-101 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-102 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-103 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2793 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2793\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2793\" href=\"#collapse-1-2793\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 3 | Dynamic management of ALM positions with undefined maturity (June 2013)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2793\" aria-labelledby=\"faq_1-2793\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-26 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-32 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-104\"><p>In a transfer price system, margin stability in the customer business is crucial. This requires risk positions (interest, liquidity) to be manageable by ALM. Using \u201cdirty\u201d transfer price models for managing positions without contractually defined maturity affecting income, may result in substantial problems in hedging and fluctuations of the bank result.<\/p>\n<p>The article gives an overview of the different options for dynamic management using moving average rates, with a special focus on handling volume increases and decreases. Additionally, the advantages\/disadvantages of the different methods are described as well as their influence on the customer margin and interest gap contribution.<\/p>\n<\/div><div class=\"fusion-text fusion-text-105 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-106 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-107 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2797 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2797\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2797\" href=\"#collapse-1-2797\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 2 | Deriving the capital commitment for products with undefined maturity (April 2013)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2797\" aria-labelledby=\"faq_1-2797\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-27 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-33 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-108\"><p>Setting up a \u201csound\u201d capital commitment balance is a very important issue in a bank\u2019s current bank management\/ALM and governance\/compliance. Based on the capital commitment balance, the bank manages the pricing of the customer business (liquidity costs) and the liquidity in ALM; measures the refinancing risk (necessary liquidity buffer) and calculates the liquidity cost risk (ICAAP). Therefore, the board has to make sure that the method employed is accepted throughout the bank, and also vouch for it in front of the regulator.<\/p>\n<p>How to deal with fixed, clearly defined capital commitments is not the issue at hand. Rather, it is the many products without a (clearly) defined term, with multiple clauses and options, with collaterals and requirements as well as the validation requirements in a normal as well as stress case the treatment of which has to be clarified. Our article outlines the currently available methods for modelling capital commitments which would then have to be adapted to the individual product portfolio of each bank.<\/p>\n<\/div><div class=\"fusion-text fusion-text-109 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-110 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-111 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default fusion-faq-post fusion-faq-post-2801 alm-forum-en \"><div class=\"panel-heading\"><h4 id=\"faq_1-2801\" class=\"panel-title toggle\"><a data-toggle=\"collapse\" class=\"collapsed\" data-target=\"#collapse-1-2801\" href=\"#collapse-1-2801\" aria-expanded=\"false\"><div class=\"fusion-toggle-icon-wrapper\"><div class=\"fusion-toggle-icon-wrapper-main\"><div class=\"fusion-toggle-icon-wrapper-sub\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon awb-icon-plus\" aria-hidden=\"true\"><\/i><\/div><\/div><\/div><div class=\"fusion-toggle-heading\">Topic 1 | Deriving the interest commitment for products with undefined interest adjustment and maturity (February 2013)<\/div><\/a><\/h4><\/div><div id=\"collapse-1-2801\" aria-labelledby=\"faq_1-2801\" class=\"panel-collapse collapse\"><div class=\"panel-body toggle-content post-content\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2-28 ce-block-faq nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-34 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-112\"><p>Products with undefined interest and capital commitment are frequently found in European universal banks\u2019 product portfolios and the margin on these products is a major source of net interest income. Managing these products and the resulting interest risk position depends on a professional method of transfer pricing which is becoming more and more important due to several reasons:<\/p>\n<ul>\n<li>Growing competition of banks for saving deposits due to expected regulatory requirements (e.g. LCR\/NSFR) and the debt crisis, whereby pricing becomes a major factor of competition<\/li>\n<li>Pressure of regulator on banks to sufficiently validate interest and capital commitment assumptions<\/li>\n<\/ul>\n<\/div><div class=\"fusion-text fusion-text-113 ce-block-faq-download\">\n<\/div><div class=\"fusion-text fusion-text-114 ce-block-faq-contact\"><p>We are looking forward to receiving your feedback! Please send your questions and suggestions to Patrick Haas at <a href=\"mailto:haas@financetrainer.com\">haas[at]financetrainer.com<\/a>.<\/p>\n<\/div><div class=\"fusion-text fusion-text-115 ce-block-faq-reg\"><\/p>\n<h4>For download please login or register<\/h4>\n<p><div class=\"woocommerce\"><\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":78,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2579","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ALM Forum - Finance Trainer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.financetrainer.com\/en\/alm-forum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ALM Forum - Finance Trainer\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.financetrainer.com\/en\/alm-forum\/\" \/>\n<meta property=\"og:site_name\" content=\"Finance Trainer\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-27T10:15:32+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/alm-forum\\\/\",\"url\":\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/alm-forum\\\/\",\"name\":\"ALM Forum - Finance Trainer\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/#website\"},\"datePublished\":\"2020-02-06T14:23:32+00:00\",\"dateModified\":\"2020-02-27T10:15:32+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/alm-forum\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/alm-forum\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/alm-forum\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Startseite\",\"item\":\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ALM Forum\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.financetrainer.com\\\/en\\\/\",\"name\":\"Finance Trainer\",\"description\":\"Financial Markets - Know how und &amp; 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