The Principles of Banking
\"The Principles of Banking
is ideal reading for anyone planning or developing a career in banking. Professor Choudhry’s coverage is fully integrated, clear, and authoritative. There is no better practitioner's guide to this subject."--Darrell Duffie
Dean Witter Distinguished Professor of Finance
Graduate School of Business, Stanford University
"The Principles of Banking is a timely reminder and update, incorporating lessons from the crisis and offering practical insights from that rare person - someone who combines working in the market with the dispassionate analysis of an academic. This book provides theory and practice in an easy-to-follow manner, an ideal reference for seasoned professionals."
Director, Prudential Capital and Risk
British Bankers' Association, London
"As a banker and bank regulator, asset and liability management has remained a high priority area for me. Professor Choudhry’s inclusive and incisive book on the nitty-gritty and nuances of this extremely important subject will help both practitioners and researchers better understand and analyse new tools and models for measuring and managing risk, as well as to keep up with the innovation challenges."
--Dr. K C Chakrabarty
Reserve Bank of India, Mumbai
"Professor Choudhry puts financial instruments and their derivatives within the context of banks’ asset and liability management, constituting a masterful and unique reference work in the field. This book covers bank liquidity risk analysis and management, as well as stress testing. On these topics Professor Choudhry's book is indispensable reading and is set to become the principal reference."
--Nuno Cassola e Barata
Adviser, Market Operations
European Central Bank, Frankfurt
"Not for beginners. A supreme, and superior, exposition of the banker's art. Every board member should have a copy of this book."
--Mohamoud Barre Dualeh
Manager, Islamic Liabilities and SME
The National Bank of Ras Al Khaimah, UAE
"Asset and Liability Management (ALM) and Liquidity are at the heart of every bank, and are key to a bank's survival and success. Professor Choudhry has a wealth of experience in this area. The Principles of Banking is an invaluable practical guide on how banks can lift their conduct to meet the challenges of the post-crisis era."
Senior Business Manager ALM
Standard Chartered Bank, Singapore
"The failure of the US banking system in 2007-2008 can be effectively described by failing to apply the principles and strategies discussed by Moorad Choudhry. Indeed, banks should understand the dynamic interaction of the economy, credit losses and interest rates, and utilize the strategies within to balance the extremes, and prioritize strategies based upon return of capital and return on capital."
--Joe Jennings CFA
Former Managing Director
Sterne Agee & Leach, Inc., Memphis, TN
"Moorad Choudhry's The Principles of Banking opens up a portal into the world of sophisticated, dynamic, capital markets-based commercial banking. He gives us the big picture, the precise details and a framework for analyzing the enormous risks facing these firms. The book is an invaluable resource."
J. Henry Fellers Professor of Business Administration, Department of Finance, University of South Carolina
"This book is a "must read" for all senior bankers. There is no writer better than Moorad Choudhry for communicating the vital principles of liquidity, capital and asset-liability management and bank corporate governance."
--Professor Carol Alexander
Chair of Financial Risk Management, ICMA Centre, University of Reading
Chair of the Board, Professional Risk Manager’s International Association
"Moorad continues to make a substantial contribution both to academia and the finance profession.
His latest book, The Principles of Banking, is a comprehensive coverage of best-practice concepts and
his own recommended strategies which are set out in a very lucid manner. Moorad, who is a Visiting
Professor at CARISMA, makes us proud; well done Moorad!"
Professor of Computational Optimisation and Modelling & Emeritus Professor, Brunel University
Director of CARISMA: The Centre for the Analysis of Risk and Optimisation Modelling Applications
"Yet again, a work of excellence!"
Vice-President Risk Management
Banco de Credito, Lima
"Professor Choudhry has been recommending for years what bank regulatory authorities only started writing about after the crash. The Principles of Banking is the last word on the subject, the definitive rulebook on bank governance and risk management for senior directors, board members and supervisors."
Global Head of ITO Delivery
Hewlett-Packard Corporation, EMEA
"A really comprehensive and approachable text - an invaluable companion for any financial market practitioner."
Lloyds TSB Corporate Markets, London
"A very highly rated book in the Group CFO performance management office! The office ALM bible, our main reference point on ALM matters."
Head of Structured Finance
National Bank of Greece, Athens
"Asset and liability management is without doubt a priority in banking; it is essential that proper controls are in place to ensure the best returns on, and also efficient use of, capital. This book covers all essential topics in a straightforward manner and builds, from basic to complex, a very useful tool for everyone in this environment."
Head of Treasury
KBC Bank NV, London