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Counterparty Credit Risk: The New Challenge For Global Financial Markets (The Wiley Finance Series),New Boehm In A Wideranging Survey ThatThe First Decade Of The 21St Century Has Been Disastrous For Financial Institutions, Derivatives And Risk Management. Counterparty Credit Risk Has Become The Key Element Of Financial Risk Management, Highlighted By The Bankruptcy Of The Investment Bank Lehman Brothers And Failure Of Other High Profile Institutions Such As Bear Sterns, Aig, Fannie Mae And Freddie Mac. The Sudden Realisation Of Extensive Counterparty Risks Has Severely Compromised The