BBVA Bancomer
... This document contains or may contain forward looking statements (in the usual meaning and within the meaning of the US Private Securities Litigation Act of 1995) regarding intentions, expectations or projections of BBVA or of its management on the date thereof, that refer to miscellaneous aspects, ...
... This document contains or may contain forward looking statements (in the usual meaning and within the meaning of the US Private Securities Litigation Act of 1995) regarding intentions, expectations or projections of BBVA or of its management on the date thereof, that refer to miscellaneous aspects, ...
Resolution Amending Authorized Representatives
... List the name of the authorized representative listed above that will have primary responsibility for performing transactions and receiving confirmations and monthly statements under the participation agreement. ...
... List the name of the authorized representative listed above that will have primary responsibility for performing transactions and receiving confirmations and monthly statements under the participation agreement. ...
The International Diversification Fallacy of Exchange
... the potential for impressive returns, indexing allows for low trading costs due to its passive management style. Indexing also assists in international stock selection that can prove challenging to some fund managers. Buying shares in an international index fund appears to be a low-cost method to ac ...
... the potential for impressive returns, indexing allows for low trading costs due to its passive management style. Indexing also assists in international stock selection that can prove challenging to some fund managers. Buying shares in an international index fund appears to be a low-cost method to ac ...
Are Islamic banks better immunized than Conventional banks in the
... October 15-16, 2010 Rome, Italy ...
... October 15-16, 2010 Rome, Italy ...
Identifying channels of credit substitution when bank capital
... than either of those alternatives because of adverse-selection costs attendant to the negative signalling that comes from inviting new stockholders to purchase equity. Those adverse-selection costs lead to negative announcement effects on issuers’ stock prices, and to substantial investment banking ...
... than either of those alternatives because of adverse-selection costs attendant to the negative signalling that comes from inviting new stockholders to purchase equity. Those adverse-selection costs lead to negative announcement effects on issuers’ stock prices, and to substantial investment banking ...
Corporate Finance
... o Stationary (in contrast to prices) Risk mapping: projecting our positions to (a small set of) risk factors o We might not have enough observations for some positions E.g., new market or instrument o Too large dimensionality of the covariance matrix For n assets: n variances and n(n-1)/2 corr ...
... o Stationary (in contrast to prices) Risk mapping: projecting our positions to (a small set of) risk factors o We might not have enough observations for some positions E.g., new market or instrument o Too large dimensionality of the covariance matrix For n assets: n variances and n(n-1)/2 corr ...
Banking Crises and the Rules of the Game
... Tacitus (Book VI) tells us that the Roman Empire suffered a major banking panic, which was quelled by a large three-year interest free loan to the banking system by Emperor Tiberius.1 There is, however, at least one obvious thing wrong with all these arguments that purport to show how myopia, busine ...
... Tacitus (Book VI) tells us that the Roman Empire suffered a major banking panic, which was quelled by a large three-year interest free loan to the banking system by Emperor Tiberius.1 There is, however, at least one obvious thing wrong with all these arguments that purport to show how myopia, busine ...
Switzerland - Swiss National Bank
... ERV), an activation of the CCB became possible in Switzerland from July 2012. Two important characteristics are embedded in the Swiss CCB framework. First, the buffer is developed in such a way that it can be implemented on a broad basis or it can target specific segments of the credit market. Secon ...
... ERV), an activation of the CCB became possible in Switzerland from July 2012. Two important characteristics are embedded in the Swiss CCB framework. First, the buffer is developed in such a way that it can be implemented on a broad basis or it can target specific segments of the credit market. Secon ...
Three Essays in Monetary Economics
... Money and inflation are most often shown to correlate - if at all - only in the “long run”. There is very little precision with respect to the actual timing of the comovement, however. This chapter studies the correlation between money and inflation at different frequency bands. There are three main fin ...
... Money and inflation are most often shown to correlate - if at all - only in the “long run”. There is very little precision with respect to the actual timing of the comovement, however. This chapter studies the correlation between money and inflation at different frequency bands. There are three main fin ...
Modeling Portfolios that Contain Risky Assets I: Risk and
... just as you would shares of a stock. Mutual funds are generally lower return/lower risk investments compared to individual stocks and bonds. Most mutual funds are managed in one of two ways: actively or passively. An actively-managed fund usually has a strategy to perform better than some market ind ...
... just as you would shares of a stock. Mutual funds are generally lower return/lower risk investments compared to individual stocks and bonds. Most mutual funds are managed in one of two ways: actively or passively. An actively-managed fund usually has a strategy to perform better than some market ind ...
The Mega-banks are Too Big to Fail, Too Big to Jail
... the fall of 2008, federal officials deviated from this TBTF policy by electing against a taxpayer rescue of Lehman Brothers.42 At the time, Lehman was one of the largest Wall Street firms. As with other teetering financial firms, its debts to its funders were real, but the asset values it claimed on ...
... the fall of 2008, federal officials deviated from this TBTF policy by electing against a taxpayer rescue of Lehman Brothers.42 At the time, Lehman was one of the largest Wall Street firms. As with other teetering financial firms, its debts to its funders were real, but the asset values it claimed on ...
Peer-to-Peer Loan Data Update
... loans, a robust, common metric of credit risk across originators does not yet exist as each has its own grading system utilizing different underwriting models. This makes comparisons a fruitful lens for analysis. Working from the latest data, we provide a comparison of corresponding loan grades for ...
... loans, a robust, common metric of credit risk across originators does not yet exist as each has its own grading system utilizing different underwriting models. This makes comparisons a fruitful lens for analysis. Working from the latest data, we provide a comparison of corresponding loan grades for ...
The Long-Run Performance of German Stock Mutual Funds
... Without any doubt a number of good reasons exists for basing these subsidiaries in Luxembourg. However, many market observers believe that tax evasion by German investors was an important motive. Figure 2 shows that at the end of 2000 nearly 1/3 of the capital managed directly or indirectly by Germa ...
... Without any doubt a number of good reasons exists for basing these subsidiaries in Luxembourg. However, many market observers believe that tax evasion by German investors was an important motive. Figure 2 shows that at the end of 2000 nearly 1/3 of the capital managed directly or indirectly by Germa ...
KKR Investment Funds May Invest in
... (Euronext Amsterdam: KPE) announced today that one or more investment funds that are managed by Kohlberg Kravis Roberts & Co. L.P. may invest from time to time in KPE’s common units. The funds investing in KPE’s common units include newly formed funds that will be raising capital over time. As part ...
... (Euronext Amsterdam: KPE) announced today that one or more investment funds that are managed by Kohlberg Kravis Roberts & Co. L.P. may invest from time to time in KPE’s common units. The funds investing in KPE’s common units include newly formed funds that will be raising capital over time. As part ...
Monetary policy and asset prices
... related in several ways. Lucas (1990) already points out possible interactions between liquidity and interest rates in an economy. Therefore, the intuitive concern arises: could monetary policy indeed affect the price or return of other assets in the economy? And if so, what would be the precise mec ...
... related in several ways. Lucas (1990) already points out possible interactions between liquidity and interest rates in an economy. Therefore, the intuitive concern arises: could monetary policy indeed affect the price or return of other assets in the economy? And if so, what would be the precise mec ...
Financing Local Infrastructure – Linking Local
... sound legal and institutional frameworks for financial markets, especially for banking and capital markets; and sufficiently developed banking and capital market systems involving intermediaries such as banks or funds that understand the particularities and needs of local authorities, and are ...
... sound legal and institutional frameworks for financial markets, especially for banking and capital markets; and sufficiently developed banking and capital market systems involving intermediaries such as banks or funds that understand the particularities and needs of local authorities, and are ...
EcoNews Issue 58 July 2017 June 30
... However, new passenger car registrations, a proxy for spending on durable goods, fell by 3% yoy to 13,836 vehicles through May, their lowest level in five years, data by the Association of Car Importers showed. Sales at Hyundai were hit the hardest, plunging by 631 vehicles to 1,615 vehicles in the ...
... However, new passenger car registrations, a proxy for spending on durable goods, fell by 3% yoy to 13,836 vehicles through May, their lowest level in five years, data by the Association of Car Importers showed. Sales at Hyundai were hit the hardest, plunging by 631 vehicles to 1,615 vehicles in the ...
Retained Earnings of Mutual Funds
... For both pension funds and the technical reserves of insurance enterprises, the 1993 SNA indicates that the saving measures for households (and for the financial enterprises sector) would be analytically flawed if the earnings of these institutional units were not attributed to households. The 1993 ...
... For both pension funds and the technical reserves of insurance enterprises, the 1993 SNA indicates that the saving measures for households (and for the financial enterprises sector) would be analytically flawed if the earnings of these institutional units were not attributed to households. The 1993 ...
The Effect of a Rise in Interest Rates on Hotel Capitalization Rates
... 7.0 to 8.5 percent—and an expected slow pace of interest rate changes, the model prediction does not indicate that property values and investor sentiment will be compromised.1 Hotel owners ought to have ample time to ponder disposition decisions without fear of losing gains. Hotel investors entering ...
... 7.0 to 8.5 percent—and an expected slow pace of interest rate changes, the model prediction does not indicate that property values and investor sentiment will be compromised.1 Hotel owners ought to have ample time to ponder disposition decisions without fear of losing gains. Hotel investors entering ...
3rd Quarter 2016 Barometer Capital Management Inc. provides the
... long as those trends remain intact. This approach also places particular emphasis on the protection of capital. By consistently monitoring for change, applying a disciplined selling strategy and making tactical use of cash, the Barometer team works to protect portfolios against the negative effect o ...
... long as those trends remain intact. This approach also places particular emphasis on the protection of capital. By consistently monitoring for change, applying a disciplined selling strategy and making tactical use of cash, the Barometer team works to protect portfolios against the negative effect o ...
Market Quality and Contagion in Fragmented Markets
... obvious how one can infer the overall quality of a market from the spreads or volumes of individual securities. Usually this involves picking a few assets that are deemed representative of the market as a whole. Furthermore, since identical assets, or more generally payoffs, may not exist on multipl ...
... obvious how one can infer the overall quality of a market from the spreads or volumes of individual securities. Usually this involves picking a few assets that are deemed representative of the market as a whole. Furthermore, since identical assets, or more generally payoffs, may not exist on multipl ...
Monetary Policy Statement March 2008 Contents
... There are also likely to be indirect price effects from the scheme as higher fuel and electricity production costs are passed through to other retail goods and services – particularly those with high transport and energy intensities, including transport and manufactured consumer goods. We have assum ...
... There are also likely to be indirect price effects from the scheme as higher fuel and electricity production costs are passed through to other retail goods and services – particularly those with high transport and energy intensities, including transport and manufactured consumer goods. We have assum ...
The Effects of Reconstruction Finance Corporation Assistance on
... C.W. Calomiris et al. / Explorations in Economic History 50 (2013) 526–547 ...
... C.W. Calomiris et al. / Explorations in Economic History 50 (2013) 526–547 ...
PDP-Working Paper
... risk assessment and projection. Overcoming these constraints requires changes in behavior, as well as in the institutional set-up. This paper analyzes the procyclical investment behavior of a wide variety of classes of institutional investors during the recent crisis. Their individual and collective ...
... risk assessment and projection. Overcoming these constraints requires changes in behavior, as well as in the institutional set-up. This paper analyzes the procyclical investment behavior of a wide variety of classes of institutional investors during the recent crisis. Their individual and collective ...
Target Outcome Funds
... assets even though the market value or yield on such assets may have changed. • The return on the units of any Target Outcome Fund on the applicable termination date will be linked to the performance of its underlying reference asset and will depend on whether, and the extent to which, its performan ...
... assets even though the market value or yield on such assets may have changed. • The return on the units of any Target Outcome Fund on the applicable termination date will be linked to the performance of its underlying reference asset and will depend on whether, and the extent to which, its performan ...