Download - Summary in Urdu
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8/2/2019 Summary in Urdu......
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SUMMARY:
Yeh article discuss kar raha ha risk management aur
derivation k influences financial crises pe. Robertmerton se interview liya jar aha ha jis ne kafi bara
role play kiya ha method of valuing the derivation
bnanay mein. Us ko nolbe prize mila tha 20027
mein. Is derivation ki value ajj $500 trillion mark
hogye ha. Yeh erticle interview ki form mein ha.
Yahan 6 questions dicuss kiye gay hian.
Q1)..is mein yeh discuss kiya ha k robert marton
ko nai lagta k derivation ka koi khass role ha
financial crisis mein wo sifr investment tool ki tarha
use kiye jaty hian. Wo yeh b kehta ha k hmein
trade-off karna parta ha benefits aur innovation k
beech. Hmein innovation ko totally ignore karna
pary ga.aur kaha ha k innovation ko baan karna aisa
ha jaisay cars ko baan karna global warming ko
reduce karnay k liye.
Q2)is mein yeh btaya ha k derivation ap ko
insight deti ha riskiness of conention banking asset
pe. Wo yeh kehta ha k loan k composit asset k 2
part hoty hian. Aik loan and second guarantee.
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Donu aik sath risk free assets hian. Wo yeh b kehta
ha k loan jin k sath guarantee nai hoti wo b risk free
hain q k unki guarantee ap khud dety ho jo loan lety
ho.aur yeh b kaha k guarantee k traits putoption k
jaisay hain jo k aik widely used security ha.
Q3)is mein us ne kaha k derivation experience
hmein btata ha un risk k bary mein jo bank ko face
karta ha creises k time pe yahan tak k wo laon band
karty hian phr b grow karti ha risk.convexity k bary
mein btaya ha k jo k option risk ha. Is ka matlab k
agar underlying asset ki price kam hoti ha to, to
price and risk of putoption or guranteeincreases
disproportionately.
Q4) is mein yeh smajta ha k log manage nai kar
payein gay trouble loans k portfolio ko aur jald se
jald unko sell kardain gay jis ki waja se tax payer
will lose out. So wo yeh suggestion day raha ha k
government aisay sovereign wealth fund establish
karain jo managers independentaly run karein ta kgovernment ko puray paiasay milain jb assets ko
sell Karin.
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Q5) ..is mein wo bta raha ha k hmein changes karni
chaye apnay regulatory system mein.yeh changes
ahin aisey he likh lena
o We should require all the financial
companies to report positions on fair value
rather than book basis.
o We have to create a central clearing
system for OTC derivatives trading ofcontracts that can be standardized.
o For custom derivatives or for non-
financial firms there should be position
limits to prevent these non-centrally
cleared contracts from creating asystematic risk.
o We would also require that senior
management teams, board members
regulators of financial institutions
demonstrate adequate understanding of the
financial technology and risk management
concepts to perform their oversights roles
effectively.
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Q6) Is mein who suggest kar raha ha financial
market ki safety hum deployment of anothercheck sytem like NTSB k through kar sakty
hian.yeh regolator to nai ha bt is ki finding
available hain aur yeh inform karta ha decision
of regulator, law makers or industry and public.
Ko. Independent regulatory body bnanay se yeh
fiada ha k yeh ensure kary ga k jo b regulation
bnay ja rahay hain they are best and least-
biased information pe bnay hian.