Course 2025 Part 2 New and Updated Published Materials

[Nicole Seaman]

This thread contains information about the updated Part 2 materials for 2025 once they are published in the study planner. You will not see every chapter/reading in this list, as many were carried over from 2024 and did not need updates. Please make sure to read our publishing process here: https://forum.bionicturtle.com/threads/important-please-read-publishing-process-for-2025.24953/. Thank you.

Topic 5 - Market Risk

MR–6, Lynch, Chapter 2. Validating Bank Holding Companies' VaR Models for Market Risk

• New PQs: P2.T5.25.5 Conceptual Soundness and Sensitivity Analysis in VaR Models
  • Posted in forum 03/18/25
  • Posted in interactive PQ bank 03/18/25
  • Published in PDF 03/27/25
• New PQs: P2.T5.25.6 Challenges in Benchmarking and Confidence Intervals for VaR Model Validation
  • Posted in forum 03/18/25
  • Posted in interactive PQ bank 03/18/25
  • Published in PDF 03/27/25
• New Study Notes PDF published 03/27/25

MR–7, Lynch, Chapter 4. Beyond Exceedance-Based Backtesting of Value-at-Risk Models

• New PQs: P2.T5.25.3 Testing VaR Models Using Exceedance Backtests and PIT Distribution Analysis
  • Posted in forum 03/13/25
  • Posted in interactive PQ bank 03/13/25
  • Published in PDF 03/27/25
• New PQs: P2.T5.25.4 Backtesting VaR Models with PITs (Kolmogorov-Smirnov, Anderson-Darling, Cramér-von Mises)
  • Posted in forum 03/13/25
  • Posted in interactive PQ bank 03/13/25
  • Published in PDF 03/27/25
• New Study Notes PDF published 03/27/25
• New Learning Spreadsheet published 04/18/25

MR-11, Tuckman, Chapter 6 (4th ed): Regression Hedging and Principal Component Analysis

• New PQs: P2.T5.25.1 Reverse Regressions
  • Posted in forum 02/28/25
  • Posted in interactive PQ bank 03/03/25
  • Published in PDF 03/27/25
• Updated Learning Spreadsheet published 03/18/25
• Updated Study Notes PDF published 03/27/25 (New LO)

MR–13, Tuckman, Chapter 8 (4th ed): Expectations, Risk Premium, Convexity and the Shape of the Term Structure

• New PQs: P2.T5.25.2 Risk-Averse Investors
  • Posted in forum 03/12/25
  • Posted in interactive PQ bank 03/12/25
  • Published in PDF 03/27/25
• Updated Learning Spreadsheet published 03/18/25
• Updated Study Notes PDF published 03/27/25 (New LO)

MR–16, Tuckman, Chapter 9 (4th ed): The Vasicek and Gauss+ Models

• New PQs: P2.T5.25.7 Gauss+ vs. Vasicek: Interest Rate Modeling and Dynamics
  • Posted in forum 03/18/25
  • Posted in interactive PQ bank 03/18/25
  • Published in PDF 03/27/25
• New PQs: P2.T5.25.8 Estimating and Analyzing Interest Rate Factors in the Gauss+ Model
  • Posted in forum 03/19/25
  • Posted in interactive PQ bank 03/19/25
  • Published in PDF 03/27/25
• New Study Notes PDF published 03/27/25

Topic 6 - Credit Risk

CR14-CR20, Gregory, Chapters 2, 3, 6, 7, 8, 11 & 17: The xVA Challenge: Counterparty Credit Risk, Funding, Collateral, and Capital

• Updated Learning Spreadsheet published 03/18/25

Topic 7 - Operational Risk

ORR-7, Chapter 7, Integrated Risk Management

• New PQs: P2.T7.25.1 ERM Framework: Risk Governance, Culture, and Capital Requirements
  • Posted in forum 03/13/25
  • Posted in interactive PQ bank 03/13/25
• New PQs: P2.T7.25.2 Stress Testing: Frameworks, Best Practices, and Operational Risk Challenges
  • Posted in forum 03/13/25
  • Posted in interactive PQ bank 03/13/25

Topic 8 - Liquidity & Treasury Risk

LTR-3, Venkat, Chapter 6, Early Warning Indicators

• New PQs: P2.T8.25.2 Understanding Early Warning Indicators for Liquidity Risk Management in Banking
  • Posted in forum 03/14/25
  • Posted in interactive PQ bank 03/14/25

LTR-6, Venkat, Chapter 4, Intraday Liquidity Risk Management

• New PQs: P2.T8.25.3 Intraday Liquidity: Sources, Risk Management, and Monitoring
  • Posted in forum 03/14/25
  • Posted in interactive PQ bank 03/14/25

LTR-7, Castagna, Chapter 6, Monitoring Liquidity

• New PQs: P2.T8.25.4 Deterministic vs. Stochastic Cash Flows and Their Term Structures
  • Posted in forum 03/17/25
  • Posted in interactive PQ bank 03/17/25

LTR-16, Patrick McGuire, “The US Dollar Shortage in Global Banking

• New PQs: P2.T8.25.1 Causes, Balance Sheet Impacts, and Central Bank Interventions
  • Posted in forum 03/14/25
  • Posted in interactive PQ bank 03/14/25

Topic 9 - Investment Management

IM5 & IM6, Jorion, Chapters 7 & 17: The New Benchmark for Managing Financial Risk

• Updated Learning Spreadsheet published 03/18/25

IM8, Bodie, Chapter 24: Portfolio Performance Evaluation

• New Learning Spreadsheet published 03/18/25

Topic 10 - Current Issues

CI-1: 2023 Bank Failures, Preliminary lessons learnt for resolution

• New Study Notes published 03/18/25

CI-2: Generative Artificial Intelligence in Finance: Risk Considerations

• New Study Notes published 03/18/25

CI-3: Artificial intelligence and the economy: implications for central banks

• New Study Notes published 03/18/25

CI-4: Interest Rate Risk Management by EME Banks”, BIS Quarterly Review

• New Study Notes published 03/18/25

CI-5: Laying a robust macro-financial foundation for the future

• New Study Notes published 03/18/25

CI-6: The Last Mile: Financial Vulnerabilities and Risks, Chapter 2: The Rise and Risks of Private Credit

• New Study Notes published 03/18/25

CI-7: BIS Annual Economic Report, Section 2: Monetary and fiscal policy: safeguarding stability and trust

• New Study Notes published 03/18/25

CI-8: Regulating the Crypto Ecosystem: The Case of Unbacked Crypto Assets

• New Study Notes published 03/18/25

CI-9: Digital Resilience and Financial Stability. The Quest for Policy Tools in The Financial Sector

• Updated Study Notes published 03/18/25

 

[Nicole Seaman]

Topic 5 - Market Risk

• MR-11, Tuckman, Chapter 6: Regression Hedging and Principal Component Analysis
  
  • New PQs: P2.T5.25.1 Reverse Regressions
    • Posted in forum 02/28/25
    • Posted in interactive PQ bank 03/03/25

 

[Nicole Seaman]

Topic 5 - Market Risk

MR–7, Lynch, Chapter 4. Beyond Exceedance-Based Backtesting of Value-at-Risk Models

• New PQs: P2.T5.25.3 Testing VaR Models Using Exceedance Backtests and PIT Distribution Analysis
  • Posted in forum 03/13/25
  • Posted in interactive PQ bank 03/13/25
• New PQs: P2.T5.25.4 Backtesting VaR Models with PITs (Kolmogorov-Smirnov, Anderson-Darling, Cramér-von Mises)
  • Posted in forum 03/13/25
  • Posted in interactive PQ bank 03/13/25

MR–13, Tuckman, Chapter 8 (4th ed): Expectations, Risk Premium, Convexity and the Shape of the Term Structure

• New PQs: P2.T5.25.2 Risk-Averse Investors
  • Posted in forum 03/12/25
  • Posted in interactive PQ bank 03/12/25

Topic 7 - Operational Risk

ORR-7, Chapter 7, Integrated Risk Management

• New PQs: P2.T7.25.1 ERM Framework: Risk Governance, Culture, and Capital Requirements
  • Posted in forum 03/13/25
  • Posted in interactive PQ bank 03/13/25
• New PQs: P2.T7.25.2 Stress Testing: Frameworks, Best Practices, and Operational Risk Challenges
  • Posted in forum 03/13/25
  • Posted in interactive PQ bank 03/13/25

 

[Nicole Seaman]

Topic 8 - Liquidity Risk

LTR-3, Venkat, Chapter 6, Early Warning Indicators

• New PQs: P2.T8.25.2 Understanding Early Warning Indicators for Liquidity Risk Management in Banking
  • Posted in forum 03/14/25
  • Posted in interactive PQ bank 03/14/25

LTR-6, Venkat, Chapter 4, Intraday Liquidity Risk Management

• New PQs: P2.T8.25.3 Intraday Liquidity: Sources, Risk Management, and Monitoring
  • Posted in forum 03/14/25
  • Posted in interactive PQ bank 03/14/25

LTR-7, Castagna, Chapter 6, Monitoring Liquidity

• New PQs: P2.T8.25.4 Deterministic vs. Stochastic Cash Flows and Their Term Structures
  • Posted in forum 03/17/25
  • Posted in interactive PQ bank 03/17/25

LTR-16, Patrick McGuire, “The US Dollar Shortage in Global Banking

• New PQs: P2.T8.25.1 Causes, Balance Sheet Impacts, and Central Bank Interventions
  • Posted in forum 03/14/25
  • Posted in interactive PQ bank 03/14/25

 

[Nicole Seaman]

Topic 5 - Market Risk

MR-11, Tuckman, Chapter 6 (4th ed): Regression Hedging and Principal Component Analysis

• Updated Learning Spreadsheet published 03/18/25

MR–13, Tuckman, Chapter 8 (4th ed): Expectations, Risk Premium, Convexity and the Shape of the Term Structure

• Updated Learning Spreadsheet published 03/18/25

Topic 6 - Credit Risk

CR14-CR20, Gregory, Chapters 2, 3, 6, 7, 8, 11 & 17: The xVA Challenge: Counterparty Credit Risk, Funding, Collateral, and Capital

• Updated Learning Spreadsheet published 03/18/25

Topic 9 - Investment Management

IM5 & IM6, Jorion, Chapters 7 & 17: The New Benchmark for Managing Financial Risk

• Updated Learning Spreadsheet published 03/18/25

IM8, Bodie, Chapter 24: Portfolio Performance Evaluation

• New Learning Spreadsheet published 03/18/25

 

[Nicole Seaman]

Topic 10 - Current Issues

CI-1: 2023 Bank Failures, Preliminary lessons learnt for resolution

• New Study Notes published 03/18/25

CI-2: Generative Artificial Intelligence in Finance: Risk Considerations

• New Study Notes published 03/18/25

CI-3: Artificial intelligence and the economy: implications for central banks

• New Study Notes published 03/18/25

CI-4: Interest Rate Risk Management by EME Banks”, BIS Quarterly Review

• New Study Notes published 03/18/25

CI-5: Laying a robust macro-financial foundation for the future

• New Study Notes published 03/18/25

CI-6: The Last Mile: Financial Vulnerabilities and Risks, Chapter 2: The Rise and Risks of Private Credit

• New Study Notes published 03/18/25

CI-7: BIS Annual Economic Report, Section 2: Monetary and fiscal policy: safeguarding stability and trust

• New Study Notes published 03/18/25

CI-8: Regulating the Crypto Ecosystem: The Case of Unbacked Crypto Assets

• New Study Notes published 03/18/25

CI-9: Digital Resilience and Financial Stability. The Quest for Policy Tools in The Financial Sector

• Updated Study Notes published 03/18/25

 

[Nicole Seaman]

Topic 5 - Market Risk

MR–6, Lynch, Chapter 2. Validating Bank Holding Companies' VaR Models for Market Risk

• New PQs: P2.T5.25.5 Conceptual Soundness and Sensitivity Analysis in VaR Models
  • Posted in forum 03/18/25
  • Posted in interactive PQ bank 03/18/25
• New PQs: P2.T5.25.6 Challenges in Benchmarking and Confidence Intervals for VaR Model Validation
  • Posted in forum 03/18/25
  • Posted in interactive PQ bank 03/18/25

MR–16, Tuckman, Chapter 9 (4th ed): The Vasicek and Gauss+ Models

• New PQs: P2.T5.25.7 Gauss+ vs. Vasicek: Interest Rate Modeling and Dynamics
  • Posted in forum 03/18/25
  • Posted in interactive PQ bank 03/18/25
• New PQs: P2.T5.25.8 Estimating and Analyzing Interest Rate Factors in the Gauss+ Model
  • Posted in forum 03/19/25
  • Posted in interactive PQ bank 03/19/25

 

[Nicole Seaman]

Topic 5 - Market Risk

MR–6, Lynch, Chapter 2. Validating Bank Holding Companies' VaR Models for Market Risk

• New PQs: P2.T5.25.5 Conceptual Soundness and Sensitivity Analysis in VaR Models
  • Published in PDF 03/27/25
• New PQs: P2.T5.25.6 Challenges in Benchmarking and Confidence Intervals for VaR Model Validation
  • Published in PDF 03/27/25
• New Study Notes PDF published 03/27/25

MR–7, Lynch, Chapter 4. Beyond Exceedance-Based Backtesting of Value-at-Risk Models

• New PQs: P2.T5.25.3 Testing VaR Models Using Exceedance Backtests and PIT Distribution Analysis
  • Published in PDF 03/27/25
• New PQs: P2.T5.25.4 Backtesting VaR Models with PITs (Kolmogorov-Smirnov, Anderson-Darling, Cramér-von Mises)
  • Published in PDF 03/27/25
• New Study Notes PDF published 03/27/25

MR-11, Tuckman, Chapter 6 (4th ed): Regression Hedging and Principal Component Analysis

• New PQs: P2.T5.25.1 Reverse Regressions
  • Published in PDF 03/27/25
• Updated Study Notes PDF published 03/27/25

MR–13, Tuckman, Chapter 8 (4th ed): Expectations, Risk Premium, Convexity and the Shape of the Term Structure

• New PQs: P2.T5.25.2 Risk-Averse Investors
  • Published in PDF 03/27/25
• Updated Study Notes PDF published 03/27/25

MR–16, Tuckman, Chapter 9 (4th ed): The Vasicek and Gauss+ Models

• New PQs: P2.T5.25.7 Gauss+ vs. Vasicek: Interest Rate Modeling and Dynamics
  • Published in PDF 03/27/25
• New PQs: P2.T5.25.8 Estimating and Analyzing Interest Rate Factors in the Gauss+ Model
  • Published in PDF 03/27/25
• New Study Notes PDF published 03/27/25