A practical guide to counterparty risk management and credit value adjustment from a leading credit practitioner Since the collapse of Lehman Brothers and the resultant realization of extensive counterparty risk across the global financial markets, the subject of counterparty risk has become an...

Monoline insurers act as triple-A guarantors of the rather senior risks in structured finance. The purchaser of credit insurance or protection from a monoline may argue that they take only a small amount of counterparty risk which is a common side-effect of trading OTC derivatives products....