Essays on international capital flows and macroeconomic stability
... We further study the transmission channel linking portfolio flows to credit extension in South Africa. We posit that the transmission works by increasing banks’ supply of credit and we find empirical support for this hypothesis. Parts the proceeds from portfolio flows are deposited in local banks. T ...
... We further study the transmission channel linking portfolio flows to credit extension in South Africa. We posit that the transmission works by increasing banks’ supply of credit and we find empirical support for this hypothesis. Parts the proceeds from portfolio flows are deposited in local banks. T ...
ALLOCATING FOR IMPACT - Global social impact investment
... and rapid growth in otherwise mature markets. ...
... and rapid growth in otherwise mature markets. ...
Follow the money - Bretton Woods Project
... the largest beneficiary of World Bank Group investment. A push for channelling money through the private financial sector is occurring despite the failures of the financial systems of US and European countries in the last five years. This report should be viewed as a research tool to stimulate debat ...
... the largest beneficiary of World Bank Group investment. A push for channelling money through the private financial sector is occurring despite the failures of the financial systems of US and European countries in the last five years. This report should be viewed as a research tool to stimulate debat ...
Bonds, Stocks, and Sources of Mispricing
... Canonical asset pricing theories assert that risk is correctly priced by rational agents in frictionless markets. However, to the extent that predictable patterns in the cross section of average returns do not reflect compensation for risk exposures, they point to persistent mispricing attributable ...
... Canonical asset pricing theories assert that risk is correctly priced by rational agents in frictionless markets. However, to the extent that predictable patterns in the cross section of average returns do not reflect compensation for risk exposures, they point to persistent mispricing attributable ...
Loan impairment modeling according to IAS 39 by
... The default trigger events in Basel II are less strictly defined and slightly different. A default is considered to have occurred with regard to a particular obligor (N.B. – not loan) when either or both of the following events have taken place: ...
... The default trigger events in Basel II are less strictly defined and slightly different. A default is considered to have occurred with regard to a particular obligor (N.B. – not loan) when either or both of the following events have taken place: ...
Equilibrium existence in the international asset and good
... good market. On the side of assets, we prove the equivalence of different noarbitrage conditions in the financial markets. In order to prove the existence and optimality properties of equilibrium, we distinguish between the notions of equilibrium and equilibrium with transfer. Parities and no-arbitr ...
... good market. On the side of assets, we prove the equivalence of different noarbitrage conditions in the financial markets. In order to prove the existence and optimality properties of equilibrium, we distinguish between the notions of equilibrium and equilibrium with transfer. Parities and no-arbitr ...
Alternatives jor Debt Management
... While uncertainty about the proper objectives of debt management has been constant, other aspects of the situation have changed. Table 1 shows alternate measures of the impact of the debt. The volume of the debt, in relation to both GNP and the total volume of public and private debt, has contracted ...
... While uncertainty about the proper objectives of debt management has been constant, other aspects of the situation have changed. Table 1 shows alternate measures of the impact of the debt. The volume of the debt, in relation to both GNP and the total volume of public and private debt, has contracted ...
Financial Access 2012 Getting to a More Comprehensive Picture Forum
... and the Caribbean and Africa microinsurance landscaping studies). The 2008 financial crisis did not affect life insurance policies, presumably because they are longer-term contracts by nature, though it did negatively affect nonlife insurance policies as well as reduce insurance technical reserves. ...
... and the Caribbean and Africa microinsurance landscaping studies). The 2008 financial crisis did not affect life insurance policies, presumably because they are longer-term contracts by nature, though it did negatively affect nonlife insurance policies as well as reduce insurance technical reserves. ...
Long-Term Debt Management Plan
... Municipalities in Ontario may only issue debt for capital purposes. The Province regulates the amount of municipal debt and other financial obligations through an Annual Repayment Limit (ARL) regulation under the Municipal Act. The ARL limits the aggregate annual cost of servicing the anticipated lo ...
... Municipalities in Ontario may only issue debt for capital purposes. The Province regulates the amount of municipal debt and other financial obligations through an Annual Repayment Limit (ARL) regulation under the Municipal Act. The ARL limits the aggregate annual cost of servicing the anticipated lo ...
2 0 0 6 / 0 7 A... O F C L E A R I... A N D S E T T L... F A C I L I T I E S
... This report sets out information that the Reserve Bank is required to report in relation to its role in the oversight of clearing and settlement (CS) facilities in Australia. This includes an assessment of how well CS facilities have complied with Financial Stability Standards determined by the Bank ...
... This report sets out information that the Reserve Bank is required to report in relation to its role in the oversight of clearing and settlement (CS) facilities in Australia. This includes an assessment of how well CS facilities have complied with Financial Stability Standards determined by the Bank ...
Electronic Market-Makers: Empirical Comparison
... market because it allows traders to realize more profits from dynamic trading. For example, a trader may want to make a transaction right away because it has some private information about the future value of the security or because it may want to optimally balance its portfolio. By fixing the probl ...
... market because it allows traders to realize more profits from dynamic trading. For example, a trader may want to make a transaction right away because it has some private information about the future value of the security or because it may want to optimally balance its portfolio. By fixing the probl ...
Investor Report RBS Citizens Financial Group, Inc. March 31, 2013
... RBS Citizens reported pre-tax income for the first quarter of 2013 of $282 million, as compared to pre-tax income of $189 million in the first quarter of 2012 which included a $138 million charge related to the settlement of overdraft litigation. The quarter marked the Company’s eleventh consecutive ...
... RBS Citizens reported pre-tax income for the first quarter of 2013 of $282 million, as compared to pre-tax income of $189 million in the first quarter of 2012 which included a $138 million charge related to the settlement of overdraft litigation. The quarter marked the Company’s eleventh consecutive ...
Leverage and Capital Structure
... the firm’s owners. Generally, increases in leverage result in increased return and risk, whereas decreases in leverage result in decreased return and risk. The amount of leverage in the firm’s capital structure—the mix of long-term debt and equity maintained by the firm—can significantly affect its ...
... the firm’s owners. Generally, increases in leverage result in increased return and risk, whereas decreases in leverage result in decreased return and risk. The amount of leverage in the firm’s capital structure—the mix of long-term debt and equity maintained by the firm—can significantly affect its ...
INF2570 AR10 cover AW05.indd
... 100 exhibitions around the world, from the recently acquired Anti-Ageing show to Arab Health in the Middle East. Our diverse range of robust and market-leading events include large, full-scale exhibitions and conferences through to extremely niche training courses and seminars and represent an excel ...
... 100 exhibitions around the world, from the recently acquired Anti-Ageing show to Arab Health in the Middle East. Our diverse range of robust and market-leading events include large, full-scale exhibitions and conferences through to extremely niche training courses and seminars and represent an excel ...
Who Owns Our PFI Schemes: And Why It Matters
... Bundling of safe PFI projects with riskier projects increases risk to the public sector. To give an example, 3i Infrastructure, which owns 1.77% of the PFI market in Scotland, in part through a portfolio called Elgin, wrote “Exposure to social infrastructure, (UK PFI) is helpful in providing the Com ...
... Bundling of safe PFI projects with riskier projects increases risk to the public sector. To give an example, 3i Infrastructure, which owns 1.77% of the PFI market in Scotland, in part through a portfolio called Elgin, wrote “Exposure to social infrastructure, (UK PFI) is helpful in providing the Com ...
Opaque Financial Reporting due to Unemployment Concerns
... insurance and opacity. These results mitigate concerns about endogeneity. We also consider potential nonlinearity between unemployment insurance benefits and opacity. In particular, we conjecture that unemployment insurance is likely to have a more salient effect on financial reporting decisions wh ...
... insurance and opacity. These results mitigate concerns about endogeneity. We also consider potential nonlinearity between unemployment insurance benefits and opacity. In particular, we conjecture that unemployment insurance is likely to have a more salient effect on financial reporting decisions wh ...
Sovereign CDS and Bond Pricing Dynamics in the Euro-area
... credit risk, an issue largely ignored until spring 2010. Compared to Ammer and Cai (2011), we also focus the analysis on sovereign debt, but we refer to credit risk in developed economies. Our results seem to convey a more clear-cut picture of the role of the CDS market in sovereign credit risk pri ...
... credit risk, an issue largely ignored until spring 2010. Compared to Ammer and Cai (2011), we also focus the analysis on sovereign debt, but we refer to credit risk in developed economies. Our results seem to convey a more clear-cut picture of the role of the CDS market in sovereign credit risk pri ...
The future of the international monetary and financial
... banks have long been accustomed to sharing this function, that is, to having competitors in providing the various means of payment. The central bank’s primary responsibilities for the payments system are about ensuring that the so-called financial plumbing works extremely well – with far less down t ...
... banks have long been accustomed to sharing this function, that is, to having competitors in providing the various means of payment. The central bank’s primary responsibilities for the payments system are about ensuring that the so-called financial plumbing works extremely well – with far less down t ...