Bank Insolvency Procedures and Market Discipline in European
... costs of capital to credits reflecting the banks’ best evaluation of credit risk from the point of view of share- and debt holders including depositors. To a particular cost of capital for a loan corresponds a choice of debt and equity financing including a certain amount of equity held against a l ...
... costs of capital to credits reflecting the banks’ best evaluation of credit risk from the point of view of share- and debt holders including depositors. To a particular cost of capital for a loan corresponds a choice of debt and equity financing including a certain amount of equity held against a l ...
An optimal lump sum conversion strategy
... SGS is Australia’s nationally coordinated system for provision of private retirement pensions. Under SGS a statutory proportion of gross income (currently 9 percent) is compulsorily and regularly contributed into an employee member’s fund account. The contribution is taxed at 15 percent. Within limi ...
... SGS is Australia’s nationally coordinated system for provision of private retirement pensions. Under SGS a statutory proportion of gross income (currently 9 percent) is compulsorily and regularly contributed into an employee member’s fund account. The contribution is taxed at 15 percent. Within limi ...
Current - Insurance Gateway
... min 80% of Net Asset Value (NAV) invested in equity All asset classes as defined in CISCA 100% of NAV in interest bearing instruments min 80% of NAV invested in listed real estate ...
... min 80% of Net Asset Value (NAV) invested in equity All asset classes as defined in CISCA 100% of NAV in interest bearing instruments min 80% of NAV invested in listed real estate ...
PDF Download
... only by a fraction in Slovenia and Italy) and the risk of poverty has increased in those countries. It is especially visible for Greece and Cyprus. In most of the countries with the highest GDP growth (Poland, Romania, the Slovak Republic and Austria), the risk of poverty was lower than in 2008. How ...
... only by a fraction in Slovenia and Italy) and the risk of poverty has increased in those countries. It is especially visible for Greece and Cyprus. In most of the countries with the highest GDP growth (Poland, Romania, the Slovak Republic and Austria), the risk of poverty was lower than in 2008. How ...
Standard Deviation as a Measure of Risk for a Mutual Fund
... expected over a short period of time. It is can be calculated at the 97.5% confidence level.” (www.vanguard.com, Vanguard Investment Counseling and Research). VaR is the losing rate of return for below which there is 2.5% probability. We will illustrate this with Fund B which is a large value mutual ...
... expected over a short period of time. It is can be calculated at the 97.5% confidence level.” (www.vanguard.com, Vanguard Investment Counseling and Research). VaR is the losing rate of return for below which there is 2.5% probability. We will illustrate this with Fund B which is a large value mutual ...
Government Debt: A Key Role in Financial Intermediation
... overcome these asymmetries. In this case fiscal policy, and especially a predictable debt management that provides a safe asset, can be crucial in order to support at least some intermediation and to thereby help overcome barriers between borrowers and lenders. In essence, safe government debt facil ...
... overcome these asymmetries. In this case fiscal policy, and especially a predictable debt management that provides a safe asset, can be crucial in order to support at least some intermediation and to thereby help overcome barriers between borrowers and lenders. In essence, safe government debt facil ...
Exchange rate risk and internationally diversified
... acquisition in that country when exchange rates are volatile. By comparison, any subsequent acquisitions in this country should yield very limited gains because of high positive asset correlation. In fact, it is conceivable that the positive correlation among these assets is so high that, for purpos ...
... acquisition in that country when exchange rates are volatile. By comparison, any subsequent acquisitions in this country should yield very limited gains because of high positive asset correlation. In fact, it is conceivable that the positive correlation among these assets is so high that, for purpos ...
Certainty Equivalents and Risk-Adjusted Discount Rates
... the coal plant. Alternatively, we could have discounted the risky ⫺$2 billion shutdown cost at a lower discount rate of 5.38%. Panel B of Table 13B-2 shows that this produces a PV of ⫺$394 million, the same as the certainty equivalent method. Not only is the appropriate RADR for this cash outflow le ...
... the coal plant. Alternatively, we could have discounted the risky ⫺$2 billion shutdown cost at a lower discount rate of 5.38%. Panel B of Table 13B-2 shows that this produces a PV of ⫺$394 million, the same as the certainty equivalent method. Not only is the appropriate RADR for this cash outflow le ...
Long-Run Stock Returns: Participating in the
... ratio for 1926–2000. On average, the dollar amount of dividends after inflation grew 1.23 percent a year, while the dividend-payout ratio decreased 0.51 percent a year. The dividend-payout ratio was 46.68 percent at the beginning of 1926. It had decreased to 31.78 percent at the end of 2000. The hig ...
... ratio for 1926–2000. On average, the dollar amount of dividends after inflation grew 1.23 percent a year, while the dividend-payout ratio decreased 0.51 percent a year. The dividend-payout ratio was 46.68 percent at the beginning of 1926. It had decreased to 31.78 percent at the end of 2000. The hig ...
2016 DFAST Mid-Cycle Stress Test Disclosure
... Citi’s scenarios, including the Citi Severely Adverse Scenario, were designed in accordance with regulatory guidance which require that the Citi-developed scenarios reflect Citi’s unique vulnerabilities to factors that stress its business model, strategy, firm-wide activities and risk exposures, inc ...
... Citi’s scenarios, including the Citi Severely Adverse Scenario, were designed in accordance with regulatory guidance which require that the Citi-developed scenarios reflect Citi’s unique vulnerabilities to factors that stress its business model, strategy, firm-wide activities and risk exposures, inc ...
full profile
... derivatives. His derivatives experience includes a five-month secondment to the law department of a major Canadian bank advising on equity derivatives transactions. He is currently actively engaged in advising market participants on Canadian derivatives regulatory developments related to trade repor ...
... derivatives. His derivatives experience includes a five-month secondment to the law department of a major Canadian bank advising on equity derivatives transactions. He is currently actively engaged in advising market participants on Canadian derivatives regulatory developments related to trade repor ...
WORLD CITIES RISK 2015-2025 - The Cambridge Risk Framework
... Tourism is defined as the activity of people travelling for leisure, business or other purposes where one or more nights are spent outside their usual environment for not more than one consecutive year (WTO 1995).1 While tourism is usually associated with transnational travel, it may also refer to t ...
... Tourism is defined as the activity of people travelling for leisure, business or other purposes where one or more nights are spent outside their usual environment for not more than one consecutive year (WTO 1995).1 While tourism is usually associated with transnational travel, it may also refer to t ...
CCS discussion paper 3/2013
... As Jakobsen (2010:482) argues, political risk is a multidimensional phenomenon. Brink (2004:25) emphasises the interrelationship of factors that can affect the business and investment climates, while Bremmer and Keat (2009:7) mention that one form of risk can create other forms of risk. For example, ...
... As Jakobsen (2010:482) argues, political risk is a multidimensional phenomenon. Brink (2004:25) emphasises the interrelationship of factors that can affect the business and investment climates, while Bremmer and Keat (2009:7) mention that one form of risk can create other forms of risk. For example, ...
Debt Management Practices and Financial Stability
... SAIs could examine processes / tools in place to support funding mix decisions SAIs may also want to include in its audit scope the need to maintain large liquidity levels in order to build cash buffers to meet sudden shock on financial markets ...
... SAIs could examine processes / tools in place to support funding mix decisions SAIs may also want to include in its audit scope the need to maintain large liquidity levels in order to build cash buffers to meet sudden shock on financial markets ...
Project to prepare a Database on Advanced Fiscal Vulnerability
... – Relevance of the correct management and the development of effective public debt strategies, taking into account: • How the capital markets globalization influence the economy. • its effects on each country’s financial situation. ...
... – Relevance of the correct management and the development of effective public debt strategies, taking into account: • How the capital markets globalization influence the economy. • its effects on each country’s financial situation. ...
NBER WORKING PAPER SERIES PREVENTING FINANCIAL CRISES: AN INTERNATIONAL PERSPECTIVE Frederic S. Mishkin
... almost brought down the Exchange Rate Mechanism of the European Monetary System. The system was saved, but only after intervention by European central banks which is estimated to have cost them anywhere from four to six billion ...
... almost brought down the Exchange Rate Mechanism of the European Monetary System. The system was saved, but only after intervention by European central banks which is estimated to have cost them anywhere from four to six billion ...
“Azerbaijan Caspian Shipping” Closed Joint Stock Company
... properties, certain office properties (classified as property, plant and equipment), derivative financial instruments, available-for-sale financial assets, contingent consideration and non-cash distribution liability that have been measured at fair value. The consolidated financial statements provid ...
... properties, certain office properties (classified as property, plant and equipment), derivative financial instruments, available-for-sale financial assets, contingent consideration and non-cash distribution liability that have been measured at fair value. The consolidated financial statements provid ...
financial reporting in the lodging industry from the segment reporting
... Accounting Standards Board (FASB)*, the International Accounting Standards Board (IASB)† and the European Union. The role of the International Hotel and Motel Association should be also mentioned here, which ensures the presentation of internal business results of the world hotel industry using the ...
... Accounting Standards Board (FASB)*, the International Accounting Standards Board (IASB)† and the European Union. The role of the International Hotel and Motel Association should be also mentioned here, which ensures the presentation of internal business results of the world hotel industry using the ...
Primer on Proposed New Regulatory Capital Framework
... Company holds $175 million of cash and investments as of June 30, 2016 and has access to a $100 million credit facility that is undrawn. These resources could be used to enhance the capital of Genworth Canada. As a result, the Company expects to be compliant with the new framework upon its implement ...
... Company holds $175 million of cash and investments as of June 30, 2016 and has access to a $100 million credit facility that is undrawn. These resources could be used to enhance the capital of Genworth Canada. As a result, the Company expects to be compliant with the new framework upon its implement ...
