motpartsexponeringar

Motpartsexponeringar, or counterparty exposures, refer to the financial risk that a party faces when its counterparties may fail to fulfill contractual obligations. In derivatives trading, exchange‑traded products, and over‑the‑counter (OTC) agreements, companies and banks confirm that the other side might become insolvent or bankrupt. The exposure thus represents potential loss that could arise if the counterparty defaults.

In practice, counterparty exposure is measured by several metrics. Net exposure considers the difference between parties’ obligations after offsetting positions. Gross exposure equals the total value of all obligations regardless of offsets. Expected exposure at future dates is estimated using simulation techniques to capture fluctuations over time. Credit valuation adjustments (CVA) and wrong‑way risk models further refine the estimates by incorporating credit quality, probability of default, and loss given default.

Risk mitigation techniques include requiring collateral, setting credit limits, and managing portfolio concentration. Central clearing for many standardized derivatives reduces exposure by placing a central counterparty (CCP) between both sides. Regulatory frameworks such as Basel III and EMIR mandate capital charges and collateral requirements to curb systemic risk stemming from counterparty defaults.

The importance of accurate counterparty exposure measurement grows in interconnected financial markets. A default can trigger cascades of losses, destabilizing institutions and economies. Therefore, financial regulators emphasize robust credit risk models and stress testing. Monitoring counterparty exposures remains a core function of treasury, risk, and compliance departments within banks, asset managers, and corporate treasuries.