World Real Interest Rates and Business Cycles in Open Economies:
... cycles can be calculated. Finally, in any model with model shocks, it is impossible to determine the impact of any single shock, because these shocks are in fact correlated in the data. For example, Baxter and Crucini (1993) find that the assumption that the world interest rate is uncorrelated with ...
... cycles can be calculated. Finally, in any model with model shocks, it is impossible to determine the impact of any single shock, because these shocks are in fact correlated in the data. For example, Baxter and Crucini (1993) find that the assumption that the world interest rate is uncorrelated with ...
Sample
... A) Brokers purchase securities for their own account. B) Most corporate bond trading takes place over the counter. C) Broker-dealers stand ready to buy and sell specific securities at selected prices. D) none of the above Answer: A Diff: 2 Keywords: Brokers, Broker-Dealers, Securities AACSB: Analyti ...
... A) Brokers purchase securities for their own account. B) Most corporate bond trading takes place over the counter. C) Broker-dealers stand ready to buy and sell specific securities at selected prices. D) none of the above Answer: A Diff: 2 Keywords: Brokers, Broker-Dealers, Securities AACSB: Analyti ...
Endogenous Liquidity and Contagion
... liquidity of the market for certain derivatives, such as calls and puts on a share, depends on the liquidity of the underlying securities. This calls for a global point of view that considers multiple assets traded in multiple markets. In order to find a metric that is at the same time intuitive and ...
... liquidity of the market for certain derivatives, such as calls and puts on a share, depends on the liquidity of the underlying securities. This calls for a global point of view that considers multiple assets traded in multiple markets. In order to find a metric that is at the same time intuitive and ...
International Financial Stability - International Center for Monetary
... Governors' Symposium and published in many policy reports. In 2002 Philipp Hartmann was awarded the first CEPR/European Summer Institute Prize for the best central bank research paper. He holds a Doctorat en Sciences Economiques from the Ecole des Hautes Etudes en Sciences Sociales in Paris. Fabio P ...
... Governors' Symposium and published in many policy reports. In 2002 Philipp Hartmann was awarded the first CEPR/European Summer Institute Prize for the best central bank research paper. He holds a Doctorat en Sciences Economiques from the Ecole des Hautes Etudes en Sciences Sociales in Paris. Fabio P ...
EMIR and MiFID2/MiFIR: Update on recognition procedures for non
... introduce a new procedure for recognising non-EU markets as equivalent for these purposes (new Article 2a EMIR). The current definition of OTC derivatives in EMIR causes difficulty to market participants trading in non-EU ETD. Article 2(7) of EMIR currently provides that derivatives are treated as ...
... introduce a new procedure for recognising non-EU markets as equivalent for these purposes (new Article 2a EMIR). The current definition of OTC derivatives in EMIR causes difficulty to market participants trading in non-EU ETD. Article 2(7) of EMIR currently provides that derivatives are treated as ...
#32842_30_Mutual Fund Regulation_P1 1..72
... generation of income and preservation of capital through investment in short-term, high-quality debt securities.5 Unlike other registered investment companies, money market funds seek to maintain a stable price per share of $16 through the use of either the amortized cost valuation method or the pen ...
... generation of income and preservation of capital through investment in short-term, high-quality debt securities.5 Unlike other registered investment companies, money market funds seek to maintain a stable price per share of $16 through the use of either the amortized cost valuation method or the pen ...
161128 APS 210 FINAL clean
... securitisation and meets the operational requirements for regulatory capital relief under Prudential Standard APS 120 Securitisation (APS 120), the ADI may exclude the assets and liabilities of the relevant special purpose vehicles (SPVs) from the calculation of its minimum liquidity holdings (MLH) ...
... securitisation and meets the operational requirements for regulatory capital relief under Prudential Standard APS 120 Securitisation (APS 120), the ADI may exclude the assets and liabilities of the relevant special purpose vehicles (SPVs) from the calculation of its minimum liquidity holdings (MLH) ...
Danish Covered Bond Handbook
... Mortgage collateral will observe LTV limits at single loan levels at all times. A key feature of the Danish system is very well-defined property rights through a general register of all properties in Denmark. This is called the Danish title number and land registration systems and efficient compulso ...
... Mortgage collateral will observe LTV limits at single loan levels at all times. A key feature of the Danish system is very well-defined property rights through a general register of all properties in Denmark. This is called the Danish title number and land registration systems and efficient compulso ...
Decomposition of technical reserves of pension funds in price
... Insurance technical reserves have attracted much attention recently. It is at the heart of pension fund management and forms the basis of current and future benefits of millions of people. As technical reserves2 have been rising during the last years in the Netherlands (Chart 1), one may wonder whic ...
... Insurance technical reserves have attracted much attention recently. It is at the heart of pension fund management and forms the basis of current and future benefits of millions of people. As technical reserves2 have been rising during the last years in the Netherlands (Chart 1), one may wonder whic ...
CREDIT FUNDS INSIGHT 01 May 2016 Issue 6, May 2016
... of art as precise as, say, "mezzanine", from which all the key features of a facility can generally be discerned with certainty. Rather, the expression is used generically to describe single tranche term ...
... of art as precise as, say, "mezzanine", from which all the key features of a facility can generally be discerned with certainty. Rather, the expression is used generically to describe single tranche term ...
Chapter 28 Investment Policy and the Framework of the CFA Institute
... D. indexation. E. the portability problem. ...
... D. indexation. E. the portability problem. ...
Economics of Money, Banking, and Financial Markets, 8e
... 9) Everything else held constant, if the expected return on U.S. Treasury bonds falls from 8 to 7 percent and the expected return on corporate bonds falls from 10 to 8 percent, then the expected return of corporate bonds ________ relative to U.S. Treasury bonds and the demand for corporate bonds ___ ...
... 9) Everything else held constant, if the expected return on U.S. Treasury bonds falls from 8 to 7 percent and the expected return on corporate bonds falls from 10 to 8 percent, then the expected return of corporate bonds ________ relative to U.S. Treasury bonds and the demand for corporate bonds ___ ...
Saving, Investment and the Financial System
... interest rate is determined by the supply and demand for loanable funds. The supply of loanable funds comes from households who want to save some of their income. The demand for loanable funds comes from households and firms who want to borrow for investment. Harcourt, Inc. items and derived ite ...
... interest rate is determined by the supply and demand for loanable funds. The supply of loanable funds comes from households who want to save some of their income. The demand for loanable funds comes from households and firms who want to borrow for investment. Harcourt, Inc. items and derived ite ...
excessive leverage and bankers` pay
... bank bets that the interest paid on the borrowed capital will be smaller than the return generated, thus improving the bank’s performance. If leverage is employed successfully, the difference between the cost of capital, and the return on capital employed, will be attributable to the principal as an ...
... bank bets that the interest paid on the borrowed capital will be smaller than the return generated, thus improving the bank’s performance. If leverage is employed successfully, the difference between the cost of capital, and the return on capital employed, will be attributable to the principal as an ...
Investor Preferences and Demand for Active Management
... We also investigate if our main results are robust to the control of market-wide investor sentiment. While investor sentiment may lead to a strong demand for either downside protection or upside potential at a particular point in time, our framework allows for the coexistence of the demands for both ...
... We also investigate if our main results are robust to the control of market-wide investor sentiment. While investor sentiment may lead to a strong demand for either downside protection or upside potential at a particular point in time, our framework allows for the coexistence of the demands for both ...
Real Estate Market Risk in Bank Stock Returns: Evidence for 15
... and by the corresponding reduction of collaterals. Also, the drop in real estate prices tends to result in greater awareness by banks of the perceived risks of real estate loans. For these reasons, it is very likely that a significant decrease in bank credit granting will occur when real estate mark ...
... and by the corresponding reduction of collaterals. Also, the drop in real estate prices tends to result in greater awareness by banks of the perceived risks of real estate loans. For these reasons, it is very likely that a significant decrease in bank credit granting will occur when real estate mark ...
Français: FIFO Español: FIFO
... A technique which allows businesses (including trading companies) to discount Accounts receivable or other assets to obtain cash. In factoring, the accounts receivable or other assets are sold at a discount on a daily, weekly or monthly basis to a factoring house. Such an organization will assume ti ...
... A technique which allows businesses (including trading companies) to discount Accounts receivable or other assets to obtain cash. In factoring, the accounts receivable or other assets are sold at a discount on a daily, weekly or monthly basis to a factoring house. Such an organization will assume ti ...
Sovereign Wealth Funds in the Pacific Island Countries
... While the recent public interest in sovereign wealth funds derives largely from the largest funds’ potential impact on international financial markets, from a domestic policymaker’s viewpoint, a more fundamental question is whether SWFs can be a useful instrument to achieve domestic policy goals. Wh ...
... While the recent public interest in sovereign wealth funds derives largely from the largest funds’ potential impact on international financial markets, from a domestic policymaker’s viewpoint, a more fundamental question is whether SWFs can be a useful instrument to achieve domestic policy goals. Wh ...
Presence and Sources of Momentum and Contrarian Profits
... who use invest based on past information. Informed investors react to new information first. Then technical analysts react to the same information, resulting in stock prices to move farther in the same direction. Thus, if there is any good news about a firm, the stock price may go up in two phases – ...
... who use invest based on past information. Informed investors react to new information first. Then technical analysts react to the same information, resulting in stock prices to move farther in the same direction. Thus, if there is any good news about a firm, the stock price may go up in two phases – ...
Final notice: JPMorgan Chase Bank NA
... order at the specified rate. This could result in the firm making a profit as described above. The client could be disadvantaged, however, since the transaction may not have happened at that time or at all but for the firm’s actions. Electronic messaging via chat rooms or similar 4.14. It was common ...
... order at the specified rate. This could result in the firm making a profit as described above. The client could be disadvantaged, however, since the transaction may not have happened at that time or at all but for the firm’s actions. Electronic messaging via chat rooms or similar 4.14. It was common ...
Chap4
... • Although the original intent of Rule 12b-1 was to promote a fund’s asset base and give existing fund shareholders access to lower expenses due to economies of scale, fund companies themselves do not tend to spend distribution fee revenue on advertising. The ICI (2005) surveyed its members in 2004 ...
... • Although the original intent of Rule 12b-1 was to promote a fund’s asset base and give existing fund shareholders access to lower expenses due to economies of scale, fund companies themselves do not tend to spend distribution fee revenue on advertising. The ICI (2005) surveyed its members in 2004 ...
The Development of a European Capital Market
... on the situation and problems of the capital market had already been prepared by certain Member States and international organizations. The OECD Committee for Invisible Transactions has for instance been invited to make a "Study on the Improvement of Capital Markets", the results of which are to be ...
... on the situation and problems of the capital market had already been prepared by certain Member States and international organizations. The OECD Committee for Invisible Transactions has for instance been invited to make a "Study on the Improvement of Capital Markets", the results of which are to be ...
The determinants of cost/profit efficiency of Islamic banks
... correlated with profitability. However, credits, taxes and the size of the reserve ratios, have a negative impact on the profitability of the Islamic Bank. Hussein (2003) provides an analysis of the characteristics of cost efficiency of Islamic banks in Sudan between 1990 and 2000. Using the stocha ...
... correlated with profitability. However, credits, taxes and the size of the reserve ratios, have a negative impact on the profitability of the Islamic Bank. Hussein (2003) provides an analysis of the characteristics of cost efficiency of Islamic banks in Sudan between 1990 and 2000. Using the stocha ...
The UK equity gap
... these initiatives into genuinely global firms. This is a view held across much of the science and technology sectors, and most recently in the digital sector. In his Tech City announcement on 4 November 2011, Prime Minister David Cameron said, ’the founders of Google have said they could never have ...
... these initiatives into genuinely global firms. This is a view held across much of the science and technology sectors, and most recently in the digital sector. In his Tech City announcement on 4 November 2011, Prime Minister David Cameron said, ’the founders of Google have said they could never have ...