Asset Liability Management

Asset Liability Management, oft abgekürzt mit ALM, bezeichnet ein Risikomodell zur Aktiv-Passiv-Steuerung in Bilanzen. Diese Methode des Risikomanagements wird hauptsächlich von Banken und Versicherern angewendet.

Zielsetzung beim ALM ist es, mit der Steuerung aller Bilanzpositionen die erwartete Rendite unter Unsicherheit zu optimieren. In einem fortdauernden Prozess werden gleichzeitig Anlagen und Verbindlichkeiten auf ihre Renditen beziehungsweise Zinsen und ihre zeitliche Staffelung untersucht. Daraus wird die Strategie entwickelt, mit der bei vorgegebenen Risikogrenzen die finanziellen Ziele erreicht werden.

ALM gewinnt vor allem aus regulatorischen Aspekten für stärkere unternehmensinterne Risikokontrollen vor allem vor dem Hintergrund von Basel II für Banken und Solvency II für Versicherungsunternehmen zunehmend an Bedeutung.

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