According to the topic "Structured Credit Risk", I've concluded:
About Value:
1. For a given correlation, increasing the probability of default will negatively impact the cash flows and the values of all tranches.
2. For a given probability of default, increasing correlation decreases the value...
I've bought the notes for FRM 1&2 recently. However, I haven't found the notes for Stulz, <Risk Management Failures> in my full planner. Could you help me with this? Your help will be greatly appreciated.
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