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Model Risk Management - Deloitte

Model Risk Management - Deloitte

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value of the derivative position was $1.25tn. When the Russian crisis kicked off in 1998, European and US markets fell drastically and LTCM was badly hit through market losses and fire sales. CDO / MBS – 2007 subprime mortgage crisis. Impacts: one of the main cause and source of losses in the 2007 financial crisis. As-of Sept. 2008, bank write-

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