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... for money can be adjusted by the market and monetary policy. If the financial market is over-heated, we can tighten credit. If the economy is not good, we can stimulate investment by lowering down interest rates to encourage borrowing. However, during the present financial meltdown, although there i ...
... for money can be adjusted by the market and monetary policy. If the financial market is over-heated, we can tighten credit. If the economy is not good, we can stimulate investment by lowering down interest rates to encourage borrowing. However, during the present financial meltdown, although there i ...
Optimal Time-Consistent Macroprudential Policy
... calibration this second term dwarfs the first, and the probability of crises matches the exogenous probability of a low-output regime, the debt tax they examine has no effect on the frequency of crises and has small effects on their magnitude. In contrast, in our model both the probability of crises ...
... calibration this second term dwarfs the first, and the probability of crises matches the exogenous probability of a low-output regime, the debt tax they examine has no effect on the frequency of crises and has small effects on their magnitude. In contrast, in our model both the probability of crises ...
Basel III Pillar 3 Regulatory Capital Disclosures
... 1852 and headquartered in San Francisco, we provide banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and we have offices in 36 countries to support customers who conduct business in ...
... 1852 and headquartered in San Francisco, we provide banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and we have offices in 36 countries to support customers who conduct business in ...
Long-term Capital Market Return Assumptions
... run somewhat above official targets but to remain in single-digit territory. Despite disappointing growth and occasional political stress, very few EM governments have shown any sign of abandoning the commitment to broadly sustainable financial policies adopted in recent decades. ...
... run somewhat above official targets but to remain in single-digit territory. Despite disappointing growth and occasional political stress, very few EM governments have shown any sign of abandoning the commitment to broadly sustainable financial policies adopted in recent decades. ...
risk measurement for hedge fund portfolios
... series is more than five times larger than for manager returns (e.g., 174 months vs. 29 months for manager SWIFT). The availability of longer time series increases the probability of encompassing tail events that play an important role in capturing the nonlinearity effect and ultimately the total va ...
... series is more than five times larger than for manager returns (e.g., 174 months vs. 29 months for manager SWIFT). The availability of longer time series increases the probability of encompassing tail events that play an important role in capturing the nonlinearity effect and ultimately the total va ...
2016 Q4 Report - Home Capital Group
... the Annual Report, periodic reports to shareholders, regulatory filings, press releases, Company presentations and other Company communications. Forward-looking statements are made in connection with business objectives and targets, Company strategies, operations, anticipated financial results and t ...
... the Annual Report, periodic reports to shareholders, regulatory filings, press releases, Company presentations and other Company communications. Forward-looking statements are made in connection with business objectives and targets, Company strategies, operations, anticipated financial results and t ...
Differential Access to Capital from Financial Institutions by Minority
... of covariates one cannot completely control for all unobservable variables. Therefore, we bound our point estimates. In doing so, we are the first paper to use the Rosenbaum bounds (2002)4 to capture the impact of unobservable variables on the probability of being denied credit. Third, we separatel ...
... of covariates one cannot completely control for all unobservable variables. Therefore, we bound our point estimates. In doing so, we are the first paper to use the Rosenbaum bounds (2002)4 to capture the impact of unobservable variables on the probability of being denied credit. Third, we separatel ...
ARE BIOFUELS RESPONSIBLE FOR PRICE VOLATILITY AND
... Fig. 4.4: Domestic prices for rice, wheat and maize were less volatile than those for traditional staples in Africa between 2005 and 2010 ..................................... 70 Fig. 4.5: Short-term and long-term price transmission in African countries ................ 74 Fig. 4.6: Short-term and ...
... Fig. 4.4: Domestic prices for rice, wheat and maize were less volatile than those for traditional staples in Africa between 2005 and 2010 ..................................... 70 Fig. 4.5: Short-term and long-term price transmission in African countries ................ 74 Fig. 4.6: Short-term and ...
Wespath`s Hedge Fund Strategy— The Path Not Followed
... anticipated that the average hedge fund would lose more than 20% of its value in any given year—until it occurred in 2008. Lack points out more starkly what that meant to hedge fund investors when he states: “…in 2008 the hedge fund industry lost more ...
... anticipated that the average hedge fund would lose more than 20% of its value in any given year—until it occurred in 2008. Lack points out more starkly what that meant to hedge fund investors when he states: “…in 2008 the hedge fund industry lost more ...
A Lost Art Is active management doomed?
... sovereign wealth funds, Australian pension funds’ new-found desire for equity derivatives, and a sharp reversal by US retail investors, who have withdrawn US$350bn (£218bn, €250bn) from actively managed funds and pumped US$500bn into passives in the past two years. It added that “pension fund consul ...
... sovereign wealth funds, Australian pension funds’ new-found desire for equity derivatives, and a sharp reversal by US retail investors, who have withdrawn US$350bn (£218bn, €250bn) from actively managed funds and pumped US$500bn into passives in the past two years. It added that “pension fund consul ...
Banking fragility and distress: An econometric study of
... homogeneity. Their size, except for Iceland, and structures of society and economy are mutually fairly similar. Hence, their economies are likely to function in a more or less similar manner. The EU-15 countries, as a somewhat less homogenous but an increasingly integrated group would be suitable fo ...
... homogeneity. Their size, except for Iceland, and structures of society and economy are mutually fairly similar. Hence, their economies are likely to function in a more or less similar manner. The EU-15 countries, as a somewhat less homogenous but an increasingly integrated group would be suitable fo ...
Street Capital Financial Group
... underwriting the mortgage. In our experience, this is far above what any of our peers do, be they big banks or other lenders in the market. It costs us far more to do this, but it helps to ensure credit quality and strong demand for our mortgages, and a solid base of quality customers. Over the past ...
... underwriting the mortgage. In our experience, this is far above what any of our peers do, be they big banks or other lenders in the market. It costs us far more to do this, but it helps to ensure credit quality and strong demand for our mortgages, and a solid base of quality customers. Over the past ...
Volatility patterns of CDS, bond and stock markets before and during
... But very few studies dealing with credit default swaps account for the characteristics of the variances. Our aim is to address this issue and to gain insights on the volatility patterns of CDS spreads, bond yield spreads and stock prices. A generalized autoregressive conditional heteroscedasticity ( ...
... But very few studies dealing with credit default swaps account for the characteristics of the variances. Our aim is to address this issue and to gain insights on the volatility patterns of CDS spreads, bond yield spreads and stock prices. A generalized autoregressive conditional heteroscedasticity ( ...
Small Business Lending Matrix and Analysis
... As they did in the previous three years, banks will continue to have sufficient funds available to meet the demand for franchise unit transactions in 2013. FRANdata projects that bank willingness to lend will improve for both SBA and conventional lenders. However, they will still not make sufficient ...
... As they did in the previous three years, banks will continue to have sufficient funds available to meet the demand for franchise unit transactions in 2013. FRANdata projects that bank willingness to lend will improve for both SBA and conventional lenders. However, they will still not make sufficient ...
Math Gone Mad: Regulatory Risk Modeling by the Federal Reserve
... risk modeling agenda—at the center of which is the use of the Federal Reserve’s mandated stress tests to determine banks’ regulatory capital requirements. The Fed is following a perfect recipe for a new systemic meltdown: ■■ It is stamping out the diversity in and competition among risk management p ...
... risk modeling agenda—at the center of which is the use of the Federal Reserve’s mandated stress tests to determine banks’ regulatory capital requirements. The Fed is following a perfect recipe for a new systemic meltdown: ■■ It is stamping out the diversity in and competition among risk management p ...
United States housing bubble
The United States housing bubble was an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012. On December 30, 2008, the Case-Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is—according to general consensus—the primary cause of the 2007–2009 recession in the United States.Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble ""the most significant risk to our economy.""Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Wall Street hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. Concerns about the impact of the collapsing housing and credit markets on the larger U.S. economy caused President George W. Bush and the Chairman of the Federal Reserve Ben Bernanke to announce a limited bailout of the U.S. housing market for homeowners who were unable to pay their mortgage debts.In 2008 alone, the United States government allocated over $900 billion to special loans and rescues related to the U.S. housing bubble, with over half going to Fannie Mae and Freddie Mac (both of which are government-sponsored enterprises) as well as the Federal Housing Administration. On December 24, 2009, the Treasury Department made an unprecedented announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years despite acknowledging losses in excess of $400 billion so far. The Treasury has been criticized for encroaching on spending powers that are enumerated for Congress alone by the United States Constitution, and for violating limits imposed by the Housing and Economic Recovery Act of 2008.