| Briefing note on Structured Credit Assets |
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| Friday, 24 August 2007 | |
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The Actuarial Profession has issued a briefing note for actuaries to help explain Structured Credit Assets (SCAs) and the key risks that should be considered when dealing with them.
The note explains what a SCA is, lists the key risks that should be considered when dealing with SCAs and gives an example of a SCA. The briefing note was issued by the Profession's Finance Investment and Risk Management Board (FIRM). It is aimed at actuaries not directly involved in the market to help them understand some of the issues associated with the use of SCAs in portfolios. Alan Rubenstein, Deputy Chairman of the FIRM Board, said: "We have produced this briefing note to help actuaries who may come across structured credit assets in the course of their work in other areas but who may feel in need of a deeper understanding of them. The current crisis of confidence in financial markets has been caused partly by the unwinding of positions in these relatively new and complicated instruments. Actuaries need to understand how to evaluate these kinds of structured products in portfolios." The briefing note can be seen at: www.actuaries.org.uk/filles/pdf/finance_invest/sca_briefing_200708.pdf |
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