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Pillar 3 Report for 30 September 2016 (PDF 1MB)
Pillar 3 Report for 30 September 2016 (PDF 1MB)

NBER WORKING PAPER SERIES COST OF EQUITY CAPITAL?
NBER WORKING PAPER SERIES COST OF EQUITY CAPITAL?

... reductions do not apply to dividend and capital gain income for shares held by tax-deferred accounts (e.g., qualified retirement plans, including pensions, IRAs and 401(k)), tax-exempt organizations, corporations, and foreigners, among other non-individual shareholders. As discussed below, we recogn ...
Does Financial Constraint Affect Shareholder Taxes and the
Does Financial Constraint Affect Shareholder Taxes and the

2016-2017 Canada Lands Company Limited Quarterly Financial
2016-2017 Canada Lands Company Limited Quarterly Financial

a_how to use the yyc curriculum_YYC
a_how to use the yyc curriculum_YYC

... Yes, You Can is designed with the end-users in mind – educators, students, and parents. American Century Investments created this unique learning experience to give educators the confidence to teach personal finance education and make a positive impact on students so they can establish a path toward ...
3.2 Country-Level Factors and Earnings Quality of Cross
3.2 Country-Level Factors and Earnings Quality of Cross

... Beyond the issue of earnings quality under IFRSs, this study addresses variables related to variations in firms’ home country institutional factors across countries. Crosscountry institutional differences affect the implementation of accounting standards and therefore affect the quality of earnings ...
Table of contents
Table of contents

... area where micro-financiers direct their marketing. They are able to provide loans at an interest rate they consider fair for the risk they take. It is said that the micro-financier operates outside of the banking realm. Traditional banks also provide loans under R10 000, but only to persons that th ...
FX swap market dislocations
FX swap market dislocations

... From mid-August to mid-September 2007, market participants indicated that the deteriorating liquidity in underlying term dollar, euro, and sterling markets made it very difficult to identify the appropriate interest rates at which to price forward transactions. As a result, FX swap market experienc ...
Economic and financial impacts of natural disasters: An assessment
Economic and financial impacts of natural disasters: An assessment

... and policy conditions. To understand and assess the economic consequences of natural hazards and the implications for policy, it is necessary to consider the pathways through which different types of hydro-meteorological (climate-related) and geophysical hazard impact on an economy, the different ri ...
Individual vs. Aggregate Preferences
Individual vs. Aggregate Preferences

Structural Change in Forward Contracting Costs for Kansas Wheat
Structural Change in Forward Contracting Costs for Kansas Wheat

... prices may correspond with larger price movements and higher amounts of cash needed to manage margin accounts by the elevator. Therefore, we expect the effect of an increase in the price of the July contract will cause the forward contracting cost to increase. The remaining parameters in the model a ...
- Free Documents
- Free Documents

... available to investors and discussed in later chapters. It also develops the important alternatives of direct and indirect investing, thereby providing the foundation for Chapter . Obviously, these assets cannot be discussed in detail in this chapter however, instructors can provide additional detai ...
The Term Structure of Money Market Spreads
The Term Structure of Money Market Spreads

NBER WORKING PAPER SERIES RISK SHIFTING VERSUS RISK MANAGEMENT:
NBER WORKING PAPER SERIES RISK SHIFTING VERSUS RISK MANAGEMENT:

... would be predicted by Froot, Scharfstein and Stein (1993)). For example, there is zero within-year correlation between the return on pension assets and the return on operating assets within this sample. A related investigation estimates probabilities of a PBGC bankruptcy termination or a corporate ...
Market conditions, default risk and credit spreads
Market conditions, default risk and credit spreads

Unlocking funding for European investment and growth
Unlocking funding for European investment and growth

... continued setbacks. This report focuses on the role of finance in supporting growth. It examines the obstacles which currently prevent the wholesale markets from supporting growth and investment in Europe, and offers recommendations on how these may be addressed. Growth and financing of real economy ...
Investing in a Time of Climate Change
Investing in a Time of Climate Change

... precipitation) pose risks to the performance of asset classes such as agriculture, timberland, real estate, and emerging market equities. In the case of real asset investments, these risks can be mitigated through geographic risk assessments undertaken at the portfolio level. To embed these consider ...
Medium Term Debt Management Strategy (2011
Medium Term Debt Management Strategy (2011

Repo and Securities Lending - Federal Reserve Bank of New York
Repo and Securities Lending - Federal Reserve Bank of New York

... agents acquire in the sec lending market is typically invested in the repo markets, creating an important link between the two markets. The custodial business is fairly concentrated: A few large players dominate the market as suppliers of general collateral and specific securities. Consequently, cus ...
Integrated annual report and group annual financial statements
Integrated annual report and group annual financial statements

The Leverage Rotation Strategy
The Leverage Rotation Strategy

CAPITAL BUDGETING AND POLICY EVALUATION USING OPTION PRICING THEORY Peter Seed
CAPITAL BUDGETING AND POLICY EVALUATION USING OPTION PRICING THEORY Peter Seed

Annual Report 2013
Annual Report 2013

... trialled in the USA last year. ...
GDP-linked bonds and sovereign default
GDP-linked bonds and sovereign default

... governments (or ‘sovereigns’) from unexpected poor growth outturns that might otherwise push them into a debt crisis. This is because the return on these bonds varies in proportion to the country’s GDP – when growth is weak, the debt servicing cost and repayment amount automatically declines; and wh ...
Billabong International Limited
Billabong International Limited

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Systemic risk

In finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to risk associated with any one individual entity, group or component of a system, that can be contained therein without harming the entire system. It can be defined as ""financial system instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or conditions in financial intermediaries"". It refers to the risks imposed by interlinkages and interdependencies in a system or market, where the failure of a single entity or cluster of entities can cause a cascading failure, which could potentially bankrupt or bring down the entire system or market. It is also sometimes erroneously referred to as ""systematic risk"".
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