FICC is one of the main Divisions in an Investment Bank. What does FICC stand for? Other than during 2007 and 2008, how does this division typically rank from a profitability point of view, compared to other Divisions? What happened during these two years, and which part of the FICC Division was most responsible for this outcome?
Answer to relevant QuestionsWhat does VaR stand for? What is its definition and why is it important to investment banks? What are some of the criticisms of VaR?How have the U.S. enforcement actions against sell-side research in 2003 heightened the issue of declining research revenues?Why might OTC derivatives be considered more risky than exchange-traded derivatives?Discuss whether you feel the SEC’s temporary ban on short-selling financial stocks in 2008 during the financial crisis unfairly punished convertible arbitrage funds.Discuss how CDS can be used for hedging and speculative purposes.
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