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Liquidity Risk - Relevance to Actuaries [24]

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Bullet points include: Liquidity risk now better appreciated in the light of the 2007-09 credit crisis. Very important for banks and other firms carrying out ‘maturity transformation’. But also very important for other types of entity more traditionally advised by actuaries, and hence for actuaries themselves, as they may. Hold assets that express liquidity risks. Have illiquid liabilities that they need to value or reserve against. Offer products that effectively involve liquidity provision to others. Who ultimately carries the risk in extreme scenarios?

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