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'Point in Time' versus 'Through the Cycle'

Point in Time (PiT) v Through the Cycle (TTC)

There used to be an argument about this; its clear to me now that this is more than an arithmetic conundrum about Ratings and RWAs its a philosophical matter applicable to wider aspects of life & thus any arguments for PiT are just lazy and myopic. Here are some good recent references; I have selected recent papers since the debate has evolved towards a conclusion since it first developed 2 or so years ago. The game has 'moved on'!

The World Bank:



Macroprudential Policy: An Organizing Framework (The IMF)

Economic Scenario Generators (Central Bank of Ireland)

PiTfalls of Through The Cycle (Barrie and Hibbert)

Deloitte Canada on Behavioural Modelling (Alot of Pictures)

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Tags: asymptotix


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