Key Mechanics of Tri-Party Repo Markets
... The GCF Repo Market The GCF (General Collateral Finance) repo market is a blindbrokered interdealer market, meaning that dealers involved in the transactions do not know each other’s identity. GCF trades are arranged by interdealer brokers that preserve the participant’s anonymity. Only securities t ...
... The GCF Repo Market The GCF (General Collateral Finance) repo market is a blindbrokered interdealer market, meaning that dealers involved in the transactions do not know each other’s identity. GCF trades are arranged by interdealer brokers that preserve the participant’s anonymity. Only securities t ...
NBER WORKING PAPER SERIES COUNTRY SPREADS AND EMERGING COUNTRIES: WHO DRIVES WHOM?
... the interest rate would be interpreted as an exogenous innovation, and therefore part of the accompanying expansion would be erroneously attributed to a spread shock, when in reality it was entirely caused by a domestic improvement in productivity. Another important issue in understanding the macroe ...
... the interest rate would be interpreted as an exogenous innovation, and therefore part of the accompanying expansion would be erroneously attributed to a spread shock, when in reality it was entirely caused by a domestic improvement in productivity. Another important issue in understanding the macroe ...
University of Louisville Endowment Fund Statement of Investment
... Permissible Securities - Equity managers may invest in common stocks, preferred stocks or fixed income instruments convertible into common stocks, and ADRs of domestic and foreign corporations. All common stocks and common stocks into which convertible securities may be converted must be listed on t ...
... Permissible Securities - Equity managers may invest in common stocks, preferred stocks or fixed income instruments convertible into common stocks, and ADRs of domestic and foreign corporations. All common stocks and common stocks into which convertible securities may be converted must be listed on t ...
Judge Information Gaps 9.17.15
... on market functioning so long as markets are functioning well, they amplify the degree of market dysfunction that is likely to result from any shock to that system. Information gaps increase the probability of a widespread panic and impede the market and regulatory processes required to achieve a ne ...
... on market functioning so long as markets are functioning well, they amplify the degree of market dysfunction that is likely to result from any shock to that system. Information gaps increase the probability of a widespread panic and impede the market and regulatory processes required to achieve a ne ...
Uncertainty and International Banking
... declining levels of bank credit. Both, demand and supply side effects are behind this decline (Cornett et al. 2011). Banks have also withdrawn from international markets at a large scale. In this paper, we analyze the role of increased uncertainty in the banking sector for the decline in bank credit ...
... declining levels of bank credit. Both, demand and supply side effects are behind this decline (Cornett et al. 2011). Banks have also withdrawn from international markets at a large scale. In this paper, we analyze the role of increased uncertainty in the banking sector for the decline in bank credit ...
Guide to Mortgage-Backed Securities
... reasons. Mortgage originators became much more disposed to sell loans into the secondary market after the high-interest-rate environment of the late 1970s and early 1980s, when the disadvantages of holding fixed-rate long-term loans in their portfolios became apparent. The growing market share of or ...
... reasons. Mortgage originators became much more disposed to sell loans into the secondary market after the high-interest-rate environment of the late 1970s and early 1980s, when the disadvantages of holding fixed-rate long-term loans in their portfolios became apparent. The growing market share of or ...
Creating a Sovereign Monetary System
... More than 97% of the money used by people and businesses in the UK is created by commercial, or ‘high-street’, banks. Less than 3% is created by the state or central banks (such as the Bank of England). A similar situation exists in most countries around the world. Banks create new money, in the for ...
... More than 97% of the money used by people and businesses in the UK is created by commercial, or ‘high-street’, banks. Less than 3% is created by the state or central banks (such as the Bank of England). A similar situation exists in most countries around the world. Banks create new money, in the for ...
Banking on Preemption: Allowing National Bank Act Preemption for
... 43 Marquette, 439 US at 308 (quotation marks omitted). 44 Citing precedent, the Court in Marquette noted that “numerous judicial decisions in cases arising out of interstate loan transactions” support the proposition that Congress was aware of the market for interstate loans. Id at 317. The interban ...
... 43 Marquette, 439 US at 308 (quotation marks omitted). 44 Citing precedent, the Court in Marquette noted that “numerous judicial decisions in cases arising out of interstate loan transactions” support the proposition that Congress was aware of the market for interstate loans. Id at 317. The interban ...
Word format - Parliament of Australia
... employee could make such transfers with the same frequency that the employer makes the original contributions. Such a process would: i) impose significantly increased costs across the system due to the surge in transactions that could be expected to occur. This would, in particular, impact on all me ...
... employee could make such transfers with the same frequency that the employer makes the original contributions. Such a process would: i) impose significantly increased costs across the system due to the surge in transactions that could be expected to occur. This would, in particular, impact on all me ...
The Role of Investment Banking for the German Economy
... analyse both the economic benefits and the costs stemming from investment banking. The study focuses on investment banks as this part of banking is particularly relevant for financing companies as well as the development and use of specif‐ ic products to support the needs of priv ...
... analyse both the economic benefits and the costs stemming from investment banking. The study focuses on investment banks as this part of banking is particularly relevant for financing companies as well as the development and use of specif‐ ic products to support the needs of priv ...
4 - Finance
... as other areas of personal finance. In this chapter we’ll focus on cash management—the routine, day-to-day administration of cash and near-cash resources, also known as liquid assets, by an individual or family. They are considered liquid because they are either held in cash or can be readily conver ...
... as other areas of personal finance. In this chapter we’ll focus on cash management—the routine, day-to-day administration of cash and near-cash resources, also known as liquid assets, by an individual or family. They are considered liquid because they are either held in cash or can be readily conver ...
Enhanced-Supervision-for-U.S.-Operations-of-Foreign
... bank operations; that is, to ensure that banks operate in a manner to minimize risk and avoid liquidation. Thus, bank capital requirements are not designed to ensure that banks maintain sufficient net liquid assets to satisfy all creditors because banks have access to federal liquidity facilities th ...
... bank operations; that is, to ensure that banks operate in a manner to minimize risk and avoid liquidation. Thus, bank capital requirements are not designed to ensure that banks maintain sufficient net liquid assets to satisfy all creditors because banks have access to federal liquidity facilities th ...
EIB - EESC European Economic and Social Committee
... of monetary expansion policies is the indirect nature of their transfer to the real economy, which is achieved by injecting liquidity into the banking system, either through loans to financial institutions or acquisition of assets owned by those institutions. ...
... of monetary expansion policies is the indirect nature of their transfer to the real economy, which is achieved by injecting liquidity into the banking system, either through loans to financial institutions or acquisition of assets owned by those institutions. ...
Government Loan, Guarantee, and Grant Programs
... Small Business Investment Company program encourage the flow of funds to small businesses through government guarantees of debt issued by the financial intermediaries providing the funds to the small business. Numerous other government-sponsored enterprises (GSEs) such as Fannie Mae, Sally Mae, Fred ...
... Small Business Investment Company program encourage the flow of funds to small businesses through government guarantees of debt issued by the financial intermediaries providing the funds to the small business. Numerous other government-sponsored enterprises (GSEs) such as Fannie Mae, Sally Mae, Fred ...
FL BlackRock Long Term (Aquila C) IE/XE
... limited range of industry sectors, it may carry more risk than funds that invest across a broader range or variety of sectors. These funds can be more volatile and carry higher risk due to their lack of diversification. G - Derivatives: Where a fund uses derivatives for investment purposes, there ma ...
... limited range of industry sectors, it may carry more risk than funds that invest across a broader range or variety of sectors. These funds can be more volatile and carry higher risk due to their lack of diversification. G - Derivatives: Where a fund uses derivatives for investment purposes, there ma ...
18-43 18.7 Forward Rate Agreements (FRAs)
... ‘buy one 10-year treasury bond contract’ for delivery on the same date, with a third party, e.g. company R • The second contract reverses or closes out the first contract and company S would no longer have an open position in the ...
... ‘buy one 10-year treasury bond contract’ for delivery on the same date, with a third party, e.g. company R • The second contract reverses or closes out the first contract and company S would no longer have an open position in the ...
Financial Stability Report - November 2016
... in time, and market funding is likely to be needed to comply with new regulatory requirements (including the Minimum Requirement for Own Funds and Eligible Liabilities – MREL), an improvement in market funding conditions with sustainable costs has become essential. ...
... in time, and market funding is likely to be needed to comply with new regulatory requirements (including the Minimum Requirement for Own Funds and Eligible Liabilities – MREL), an improvement in market funding conditions with sustainable costs has become essential. ...
PDF Download
... and the conditions under which entitlements can be cut in a financial crisis plan. Fourthly, indexation policy becomes more conservative in that indexation can only be given when the funding ratio exceeds 110 percent. The chosen indexation policy also has to be sustainable for the future. Fifthly, r ...
... and the conditions under which entitlements can be cut in a financial crisis plan. Fourthly, indexation policy becomes more conservative in that indexation can only be given when the funding ratio exceeds 110 percent. The chosen indexation policy also has to be sustainable for the future. Fifthly, r ...
a 125-page addendum
... scope and density) or, in other words, of the commercial advantages of big firms over smaller competitors. The latter may not be able to effectively use marketing instruments such as frequent flyer bonuses or computer reservation systems. These instruments, along with the dominance of hubs, may have ...
... scope and density) or, in other words, of the commercial advantages of big firms over smaller competitors. The latter may not be able to effectively use marketing instruments such as frequent flyer bonuses or computer reservation systems. These instruments, along with the dominance of hubs, may have ...
1 How was the Quantitative Easing Program of the 1930s Unwound
... reserves were unwinding starting in 1941 and were on track to have unwound fully even without the issuance of war bonds or increase in reserve requirements.5 The literature on the rise of excess reserves is quite extensive. Economists have argued that the rise is due to precautionary demand (Friedm ...
... reserves were unwinding starting in 1941 and were on track to have unwound fully even without the issuance of war bonds or increase in reserve requirements.5 The literature on the rise of excess reserves is quite extensive. Economists have argued that the rise is due to precautionary demand (Friedm ...
PRESS RELEASE
... believe that these adjustments appropriately reflect current and potential loan market conditions. In particular, we believe that these changes are consistent with an expected near-term decline in defaults with heightened risks remaining in the mid-term as a result of both macro-economic uncertainty ...
... believe that these adjustments appropriately reflect current and potential loan market conditions. In particular, we believe that these changes are consistent with an expected near-term decline in defaults with heightened risks remaining in the mid-term as a result of both macro-economic uncertainty ...
Interest Rate and Business Cycles in a Credit Constrained Small Open Economy
... world by holding net foreign liabilities - a typical feature of SOE models. Second, the stock of net liabilities is endogenously governed and constrained by the accumulating capital stock. The latter works as collateral in the sense of Kiyotaki and Moore (1997). Third, the economy’s representative ...
... world by holding net foreign liabilities - a typical feature of SOE models. Second, the stock of net liabilities is endogenously governed and constrained by the accumulating capital stock. The latter works as collateral in the sense of Kiyotaki and Moore (1997). Third, the economy’s representative ...
The framework of capital requirements for UK banks
... appropriate equity requirement for the banking system by about 5% of risk-weighted assets. Credible and effective resolution arrangements are expected to improve market discipline, and thereby reduce the probability of a future financial crisis by around a third. And the ability to recapitalise bank ...
... appropriate equity requirement for the banking system by about 5% of risk-weighted assets. Credible and effective resolution arrangements are expected to improve market discipline, and thereby reduce the probability of a future financial crisis by around a third. And the ability to recapitalise bank ...
When are consumer loans collateralized in emerging markets
... companies, and the Central People’s Credit Fund System with 23 branches and 888 local credit funds. ...
... companies, and the Central People’s Credit Fund System with 23 branches and 888 local credit funds. ...
NBER WORKING PAPER SERIES COMPETING LIQUIDITIES: CORPORATE SECURITIES, REAL BONDS AND BUBBLES
... The economy can be described recursively with one state variable: past investment it−1 . At date t + 1, given past investment it−1 , current investment it and the interest rate rt+1 are jointly determined by the intersection of a supply and a demand equation for assets. That these two curves interse ...
... The economy can be described recursively with one state variable: past investment it−1 . At date t + 1, given past investment it−1 , current investment it and the interest rate rt+1 are jointly determined by the intersection of a supply and a demand equation for assets. That these two curves interse ...