Wespath`s Hedge Fund Strategy— The Path Not Followed
... funds is problematic. First and foremost is the skill and resources required to conduct initial and ongoing due diligence of the hedge fund investments. Many hedge fund strategies are extremely ...
... funds is problematic. First and foremost is the skill and resources required to conduct initial and ongoing due diligence of the hedge fund investments. Many hedge fund strategies are extremely ...
Financial Cycles with Heterogeneous Intermediaries
... systemic risk) is non-monotonic. We explain here the basic economic intuition behind the workings of the model. Our model features an endogenous non-linearity in the trade-off between monetary policy (which affects the funding costs of intermediaries) and financial stability. When the level of inter ...
... systemic risk) is non-monotonic. We explain here the basic economic intuition behind the workings of the model. Our model features an endogenous non-linearity in the trade-off between monetary policy (which affects the funding costs of intermediaries) and financial stability. When the level of inter ...
chapter 32 institutional investors
... value in the first place, especially if they are not glaring? Is anyone really well-capitalized enough to conduct such trades once they have been identified? Does the separation of ownership and control between intelligent investors and their outside financiers make theoretically predicted trading a ...
... value in the first place, especially if they are not glaring? Is anyone really well-capitalized enough to conduct such trades once they have been identified? Does the separation of ownership and control between intelligent investors and their outside financiers make theoretically predicted trading a ...
Asset encumbrance, financial reform and the demand for collateral
... Given that the demand for collateral assets is increasing, the Committee on the Global Financial System (CGFS) in May 2012 established a Working Group (chaired by Aerdt Houben, Netherlands Bank) to explore the implications of this trend for markets and policy. This report presents the Group’s findin ...
... Given that the demand for collateral assets is increasing, the Committee on the Global Financial System (CGFS) in May 2012 established a Working Group (chaired by Aerdt Houben, Netherlands Bank) to explore the implications of this trend for markets and policy. This report presents the Group’s findin ...
Profit efficiency for Spanish savings banks
... inefficiencies. In addition, input inefficiency measured in a profit function may differ from that derived from a cost function. Profit efficiency - - the deviation from the profit frontier - - is determined using the thick frontier approach. We also determine how the profit frontier has shifted ove ...
... inefficiencies. In addition, input inefficiency measured in a profit function may differ from that derived from a cost function. Profit efficiency - - the deviation from the profit frontier - - is determined using the thick frontier approach. We also determine how the profit frontier has shifted ove ...
Bank and sovereign risk feedback loops
... take up of long-term re…nancing operations (LTROs) among European banks. They document that banks where this take up was larger also featured larger increases in their sovereign debt exposure.5 Drechsler et al. (2013) de…ne a haircut subsidy associated with using government bonds as collateral with ...
... take up of long-term re…nancing operations (LTROs) among European banks. They document that banks where this take up was larger also featured larger increases in their sovereign debt exposure.5 Drechsler et al. (2013) de…ne a haircut subsidy associated with using government bonds as collateral with ...
Financial Institutions Instruments and Markets, 5th Edition
... 24. Which of the following is NOT a feature of a debt instrument? A. A contractual claim against the borrower B. Periodic interest payments C. Higher claim on assets of borrower than equity holders D. Their prices do not fluctuate as much as shares 25. Which of the following is NOT a feature of futu ...
... 24. Which of the following is NOT a feature of a debt instrument? A. A contractual claim against the borrower B. Periodic interest payments C. Higher claim on assets of borrower than equity holders D. Their prices do not fluctuate as much as shares 25. Which of the following is NOT a feature of futu ...
application of the countercyclical capital buffer in lithuania
... been enforced at EU level; its purpose is to ensure the effectiveness of the CCB applied by individual Member States and equal competition conditions for domestic banks and foreign bank branches. The Directive provides for immediate recognition internationally, at EU level, of the CCB rate not above ...
... been enforced at EU level; its purpose is to ensure the effectiveness of the CCB applied by individual Member States and equal competition conditions for domestic banks and foreign bank branches. The Directive provides for immediate recognition internationally, at EU level, of the CCB rate not above ...
Some Theoretical Considerations Regarding Net Asset Values for
... to set a NAV equal to 1 and assign c0 1 new shares to each investors in period 0 in the form of a dividend payment. At that point, then, each agent has in their account c0 shares of the fund. If only the proportion q of agents that need to consume early decide to withdraw from the fund, then total w ...
... to set a NAV equal to 1 and assign c0 1 new shares to each investors in period 0 in the form of a dividend payment. At that point, then, each agent has in their account c0 shares of the fund. If only the proportion q of agents that need to consume early decide to withdraw from the fund, then total w ...
The international actor of Turkish capital markets 2006 ANNUAL
... loans grew at an increasing rate and the daily average loan volume reached TRY 19.9 million. In line with this increase, interest income on cash loans rose to TRY 3.9 million, an increase of 18% compared to the previous year. Brokerage houses have been experiencing increased access to the Securities ...
... loans grew at an increasing rate and the daily average loan volume reached TRY 19.9 million. In line with this increase, interest income on cash loans rose to TRY 3.9 million, an increase of 18% compared to the previous year. Brokerage houses have been experiencing increased access to the Securities ...
PDF - Publications
... of uncertainty. This is the case of the combined effect of the reforms implemented sequentially since the crisis. Owing to the scale of regulatory action, almost the entire incentive structure of the financial system has been modified. The analysis of regulatory interaction is in its early days, und ...
... of uncertainty. This is the case of the combined effect of the reforms implemented sequentially since the crisis. Owing to the scale of regulatory action, almost the entire incentive structure of the financial system has been modified. The analysis of regulatory interaction is in its early days, und ...
financial stability report
... two years. These forecasts are not free from certain downside risks, linked mainly to factors stemming from the external environment. On domestic and international financial markets, recent months have seen something of a pick-up in long-term interest rates, rises in equity prices, more markedly so ...
... two years. These forecasts are not free from certain downside risks, linked mainly to factors stemming from the external environment. On domestic and international financial markets, recent months have seen something of a pick-up in long-term interest rates, rises in equity prices, more markedly so ...
Too Many To Fail: The Effect of Regulatory Forbearance on Market
... The characteristics of Korean savings banks and the regulatory environment must be explained because they should contribute to bringing different empirical results from others. First, the asset sizes of individual savings banks are small relative to other depository institutions. The possibility of ...
... The characteristics of Korean savings banks and the regulatory environment must be explained because they should contribute to bringing different empirical results from others. First, the asset sizes of individual savings banks are small relative to other depository institutions. The possibility of ...
WHAT YOU NEED TO KNOW ABOUT THE EU
... UCITS management company respectively, rather than the relevant fund itself (in comparison to EMIR, where the obligation is commonly assumed to remain on the fund)3. Secondly, NFCs that are defined as “medium sized undertakings” under the Directive on Financial Statements (2013/34/EU, Article (3) ...
... UCITS management company respectively, rather than the relevant fund itself (in comparison to EMIR, where the obligation is commonly assumed to remain on the fund)3. Secondly, NFCs that are defined as “medium sized undertakings” under the Directive on Financial Statements (2013/34/EU, Article (3) ...
the future of the belgian financial sector
... 24. Although major reforms have already been introduced to enhance the resilience of the financial system, some risks remain, especially if low interest rates would persist for some years. The first 5 recommendations address this issue. Recommendation 1 proposes to enhance the current regulatory and ...
... 24. Although major reforms have already been introduced to enhance the resilience of the financial system, some risks remain, especially if low interest rates would persist for some years. The first 5 recommendations address this issue. Recommendation 1 proposes to enhance the current regulatory and ...
Mutual Funds - Cornerstone Retirement
... I asked my Global Financial Private Capital research team to help me create mutual funds and how the mutual fund industry works. I am a big believer that it never hurts to know a little bit more about one’s current situation. The second goal is to provide a less-biased look than put forth in the reg ...
... I asked my Global Financial Private Capital research team to help me create mutual funds and how the mutual fund industry works. I am a big believer that it never hurts to know a little bit more about one’s current situation. The second goal is to provide a less-biased look than put forth in the reg ...
Three essays on risk management and financial stability
... financial indicators capable of explaining business failure at a 1-year prediction horizon are identified. Using the model estimated in this way, an aggregate indicator of the creditworthiness of the Czech corporate sector (named as JT index) is then constructed and its evolution over time is shown. ...
... financial indicators capable of explaining business failure at a 1-year prediction horizon are identified. Using the model estimated in this way, an aggregate indicator of the creditworthiness of the Czech corporate sector (named as JT index) is then constructed and its evolution over time is shown. ...
Client Assets - Bank of Ireland Private Banking
... Client assets, for the purpose of the Regulations, are assets of the investor, which are held by BOIPBL on behalf of the client and for their benefit. There are two forms of client asset - funds and financial/ investment instruments. Funds are defined in the Regulations and include cash, cheques or ...
... Client assets, for the purpose of the Regulations, are assets of the investor, which are held by BOIPBL on behalf of the client and for their benefit. There are two forms of client asset - funds and financial/ investment instruments. Funds are defined in the Regulations and include cash, cheques or ...
Lending Competition of Community Banks and the Farm Credit System
... of the FCS and how nizations was also apparent in written comments it has evolved; by analyzing the performance of from survey respondents. These comments illusFCS vis-à-vis community banks in general and trate some of the potential causes of bankers’ conagricultural banks in particular; and by expl ...
... of the FCS and how nizations was also apparent in written comments it has evolved; by analyzing the performance of from survey respondents. These comments illusFCS vis-à-vis community banks in general and trate some of the potential causes of bankers’ conagricultural banks in particular; and by expl ...
MARKET STRUCTURE, STRATEGIC CHOICE AND BANK
... The effect of market structure and performance of banking industry has been studied extensively for American banks and for European banks. In contrast, little work has been done to study this effect for Asian banks. Some of researchers in Sri Lanka have identified the effect of market structure on p ...
... The effect of market structure and performance of banking industry has been studied extensively for American banks and for European banks. In contrast, little work has been done to study this effect for Asian banks. Some of researchers in Sri Lanka have identified the effect of market structure on p ...
perspectives on dynamic asset allocation
... approach by also taking convexity into account. One way of doing this is by applying cash-flow matching techniques. The PSP building block relates to the diversification concept of the framework, which is theoretically constructed as a portfolio with the highest possible Sharpe ratio for the next sh ...
... approach by also taking convexity into account. One way of doing this is by applying cash-flow matching techniques. The PSP building block relates to the diversification concept of the framework, which is theoretically constructed as a portfolio with the highest possible Sharpe ratio for the next sh ...