Appendix III: Credit Growth OLS Regression, Summary Statistics
... Thus, governments try to enact proper consumer credit legislation which provides a balance of protecting consumers of credit from reckless and predatory lending while also ensuring these measures allow lenders to make a fair profit and collect their debts (Otto, 2010). Recently, this balance has com ...
... Thus, governments try to enact proper consumer credit legislation which provides a balance of protecting consumers of credit from reckless and predatory lending while also ensuring these measures allow lenders to make a fair profit and collect their debts (Otto, 2010). Recently, this balance has com ...
Liquidity Flooding, Asset Prices and the Real EconomyWe are
... beliefs.11 In this literature, aggregate liquidity in the economy is exogenously given. In our paper, we show the effect of policy (liquidity injections) on the aggregate liquidity, and thus demonstrate the implications of monetary policies on asset prices. Acharya and Naqvi (2012) show that abundan ...
... beliefs.11 In this literature, aggregate liquidity in the economy is exogenously given. In our paper, we show the effect of policy (liquidity injections) on the aggregate liquidity, and thus demonstrate the implications of monetary policies on asset prices. Acharya and Naqvi (2012) show that abundan ...
supplementary regulatory capital disclosure
... transitional period will continue to be subject to Basel II treatment. In addition, non-qualifying capital instruments will be phased-out over 10 years and the capital conservation buffer will be phased in over 4 years. As of January 2019, the banks will be required to meet new minimum requirements ...
... transitional period will continue to be subject to Basel II treatment. In addition, non-qualifying capital instruments will be phased-out over 10 years and the capital conservation buffer will be phased in over 4 years. As of January 2019, the banks will be required to meet new minimum requirements ...
A Model of Monetary Policy and Risk Premia
... the economy’s high effective risk aversion increases the precautionary demand for savings. Overall, the effect on the risk premium dominates, so that under the high-rate policy discount rates are substantially higher and valuations (price-dividend ratios) are substantially lower than under the low-r ...
... the economy’s high effective risk aversion increases the precautionary demand for savings. Overall, the effect on the risk premium dominates, so that under the high-rate policy discount rates are substantially higher and valuations (price-dividend ratios) are substantially lower than under the low-r ...
intermediate-financial-management-10th-edition
... the real PG&E actually did. The moral of the story is that the CAPM, like other cost of capital estimating techniques, can be dangerous if used without care and judgment. One final point on all this: The utilities are regulated, and regulators estimate their cost of capital and use it as a basis for ...
... the real PG&E actually did. The moral of the story is that the CAPM, like other cost of capital estimating techniques, can be dangerous if used without care and judgment. One final point on all this: The utilities are regulated, and regulators estimate their cost of capital and use it as a basis for ...
NBER WORKING PAPER SERIES SUDDEN STOPS, FINANCIAL CRISES AND LEVERAGE:
... rigidities. This is because these models typically assume perfect world credit markets that act as an efficient vehicle for consumption smoothing and investment financing. For example, in response to a large output drop, households formulate optimal plans to smooth the effect on consumption by borro ...
... rigidities. This is because these models typically assume perfect world credit markets that act as an efficient vehicle for consumption smoothing and investment financing. For example, in response to a large output drop, households formulate optimal plans to smooth the effect on consumption by borro ...
Bank of England Inflation Report February 2010
... Households’ consumption was estimated to have stopped falling in 2009 Q3, having declined substantially over the previous year. And the household saving ratio picked up sharply. The past contraction in households’ spending is likely to have been driven by weakness in actual and expected labour incom ...
... Households’ consumption was estimated to have stopped falling in 2009 Q3, having declined substantially over the previous year. And the household saving ratio picked up sharply. The past contraction in households’ spending is likely to have been driven by weakness in actual and expected labour incom ...
"Al. I. CUZA" UNIVERSITY of IAŞI DOCTORAL SCHOOL
... side of the study aimed to describe aspects and issue assumptions for which the quantitative research aimed to verify the validity and results and conclusions given in the economic context. Quantitative analyzes were performed based on the collection of statistics drawn from official national source ...
... side of the study aimed to describe aspects and issue assumptions for which the quantitative research aimed to verify the validity and results and conclusions given in the economic context. Quantitative analyzes were performed based on the collection of statistics drawn from official national source ...
Chapter 7 The modified golden rule
... also this bequest is a choice, namely a choice made by the old parent in this period, hence endogenous This old parent enters period with assets equal to the saving made as young, −1 which, if period is the initial period of the model, is part of the arbitrarily given initial conditions of ...
... also this bequest is a choice, namely a choice made by the old parent in this period, hence endogenous This old parent enters period with assets equal to the saving made as young, −1 which, if period is the initial period of the model, is part of the arbitrarily given initial conditions of ...
The price impact of rating announcements
... movements up to 100 trading days prior to the rating change. Nevertheless, bond prices still react to the actual announcement of downgrades and negative outlooks, although not to upgrades and positive outlooks. A number of other studies focus on equity markets, which might be expected to reflect inf ...
... movements up to 100 trading days prior to the rating change. Nevertheless, bond prices still react to the actual announcement of downgrades and negative outlooks, although not to upgrades and positive outlooks. A number of other studies focus on equity markets, which might be expected to reflect inf ...
Testing the Elasticity of Corporate Yield Spreads
... yield spread-riskless rate relationship for yield spreads and a stronger negative relationship for relative spreads, which supports their two-factor model." However, Duffee (1998) points out that owing to the construction of the Moody's index, which uses both callable and noncallable bonds, such a c ...
... yield spread-riskless rate relationship for yield spreads and a stronger negative relationship for relative spreads, which supports their two-factor model." However, Duffee (1998) points out that owing to the construction of the Moody's index, which uses both callable and noncallable bonds, such a c ...
Chapter 7: The Demand for Money
... quantity of money demanded is equal to the quantity supplied, $300 billion, at an interest rate of 10%. At that interest rate, people are content to hold the quantity of money that is supplied by the Fed. What are the forces that will move the interest rate to 10% in Figure 7.3, and what forces keep ...
... quantity of money demanded is equal to the quantity supplied, $300 billion, at an interest rate of 10%. At that interest rate, people are content to hold the quantity of money that is supplied by the Fed. What are the forces that will move the interest rate to 10% in Figure 7.3, and what forces keep ...
- PuneICAI
... These advances need not be treated as NPA provided adequate margin is available. Advances against Gold loans, government securities are not covered in this criteria. (4.2.11) Central Government guaranteed advance to be classified as NPA only if Government repudiates the guarantee when invoked. ...
... These advances need not be treated as NPA provided adequate margin is available. Advances against Gold loans, government securities are not covered in this criteria. (4.2.11) Central Government guaranteed advance to be classified as NPA only if Government repudiates the guarantee when invoked. ...
Updating the Discount Rate Used for Benefit-Cost Analysis
... reviewed, estimates for the SPC ranged from less than one to very large with most estimates falling between 1.1 and 4. Some sources just apply the SPC to a project’s capital costs (or the portion of it that is debt-financed) while others insist on a much more complex process involving the project fi ...
... reviewed, estimates for the SPC ranged from less than one to very large with most estimates falling between 1.1 and 4. Some sources just apply the SPC to a project’s capital costs (or the portion of it that is debt-financed) while others insist on a much more complex process involving the project fi ...
Dividends and Interest Rate Sensitivity
... For our analysis, the US Large Cap Equity universe is composed of 1200 of the largest, liquid names in the US starting December 1984 to May 2015, including dividend and non-dividend paying stocks. We performed a regression analysis of US Large Cap Equity returns using the market risk premium and the ...
... For our analysis, the US Large Cap Equity universe is composed of 1200 of the largest, liquid names in the US starting December 1984 to May 2015, including dividend and non-dividend paying stocks. We performed a regression analysis of US Large Cap Equity returns using the market risk premium and the ...
PRESS RELEASE
... Constant Annual Default Rate (“CADR”): The CADR has been reduced to 2.5x the WARFimplied default rate or approximately 5.4% for 2010 and 2.0x the WARF-implied default rate or approximately 4.3% for 2011; the CADR has been increased to 1.5x the WARF-implied default rate or approximately 3.2% for 20 ...
... Constant Annual Default Rate (“CADR”): The CADR has been reduced to 2.5x the WARFimplied default rate or approximately 5.4% for 2010 and 2.0x the WARF-implied default rate or approximately 4.3% for 2011; the CADR has been increased to 1.5x the WARF-implied default rate or approximately 3.2% for 20 ...
View the Entire Research Piece as a PDF here.
... lower interest rates every time the economy (and thus markets) hit a bump. Traders and investors became increasingly convinced that for as long as Greenspan remained chairmen of the Fed, the Fed would come to the rescue if markets turn sour. They referred to it as the “Greenspan put”. While the Gree ...
... lower interest rates every time the economy (and thus markets) hit a bump. Traders and investors became increasingly convinced that for as long as Greenspan remained chairmen of the Fed, the Fed would come to the rescue if markets turn sour. They referred to it as the “Greenspan put”. While the Gree ...
GLOBAL PAYMENTS INC
... to the rules and regulations of the Securities and Exchange Commission (the "SEC"). The consolidated balance sheet as of May 31, 2016 was derived from the audited financial statements for the year ended May 31, 2016 included in our Annual Report on Form 10-K for the year ended May 31, 2016 but does ...
... to the rules and regulations of the Securities and Exchange Commission (the "SEC"). The consolidated balance sheet as of May 31, 2016 was derived from the audited financial statements for the year ended May 31, 2016 included in our Annual Report on Form 10-K for the year ended May 31, 2016 but does ...
Learning Curve Spillovers and Transactions Cost in
... of loans and interest charged to each borrower, the study focused on annual data per MFI made accessible in the Microfinance Information. Exchange Portal (MIX). Borrowing and payment behavior of creditors would be important in order to detect the occurrence of mission drift in an MFI. Indicators use ...
... of loans and interest charged to each borrower, the study focused on annual data per MFI made accessible in the Microfinance Information. Exchange Portal (MIX). Borrowing and payment behavior of creditors would be important in order to detect the occurrence of mission drift in an MFI. Indicators use ...
SOUTHWEST BANCORP INC (Form: 10-Q, Received
... The cautionary statements in this Form 10-Q and any documents incorporated by reference herein also identify important factors and possible events that involve risk and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements. Thes ...
... The cautionary statements in this Form 10-Q and any documents incorporated by reference herein also identify important factors and possible events that involve risk and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements. Thes ...
Shadow Fed Funds Rate
... US Household formation has more than tripled since 2008. This has supported rental housing growth and has a positive overall multiplier effect on the economy. For Institutional Investor use only. Not for use with the general public. Do not forward or distribute. ...
... US Household formation has more than tripled since 2008. This has supported rental housing growth and has a positive overall multiplier effect on the economy. For Institutional Investor use only. Not for use with the general public. Do not forward or distribute. ...
Form 10-Q - Town Sports International Holdings, Inc.
... Facility was issued at an original issue discount (“OID”) of 1.0% or $3,000. The $3,000 OID was recorded as a contra-liability to long-term debt on the accompanying condensed consolidated balance sheet and is being amortized as interest expense using the effective interest method. On May 11, 2011, d ...
... Facility was issued at an original issue discount (“OID”) of 1.0% or $3,000. The $3,000 OID was recorded as a contra-liability to long-term debt on the accompanying condensed consolidated balance sheet and is being amortized as interest expense using the effective interest method. On May 11, 2011, d ...
Group-Based Financial Institutions for the Rural
... n the past two decades, nongovernmental organizations (NGOs) in Bangladesh have provided millions of poor rural people with savings and credit services at low cost. With these services, they have reduced poverty, improved food security and nutrition, and achieved positive social change as well. Thes ...
... n the past two decades, nongovernmental organizations (NGOs) in Bangladesh have provided millions of poor rural people with savings and credit services at low cost. With these services, they have reduced poverty, improved food security and nutrition, and achieved positive social change as well. Thes ...
The Demand for Liquid Assets, Corporate Saving
... time: capital needs one installation period before it can be used in the production process. Second, a portion of the wage bill has to be paid before output is available to entrepreneurs. This generates a need for funds. The third assumption is that entrepreneurs face credit constraints. This implie ...
... time: capital needs one installation period before it can be used in the production process. Second, a portion of the wage bill has to be paid before output is available to entrepreneurs. This generates a need for funds. The third assumption is that entrepreneurs face credit constraints. This implie ...
Leverage and Disagreement ∗ François Geerolf UCLA
... using leverage, and some banks leveraged into Mortgage-Backed Securities that would only pay off if house prices continued to rise. When house prices decreased, Lehman Brothers filed for bankruptcy, and other major banks and insurance companies would have gone bankrupt without government interventio ...
... using leverage, and some banks leveraged into Mortgage-Backed Securities that would only pay off if house prices continued to rise. When house prices decreased, Lehman Brothers filed for bankruptcy, and other major banks and insurance companies would have gone bankrupt without government interventio ...
Credit rationing
Credit rationing refers to the situation where lenders limit the supply of additional credit to borrowers who demand funds, even if the latter are willing to pay higher interest rates. It is an example of market imperfection, or market failure, as the price mechanism fails to bring about equilibrium in the market. It should not be confused with cases where credit is simply ""too expensive"" for some borrowers, that is, situations where the interest rate is deemed too high. On the contrary, the borrower would like to acquire the funds at the current rates, and the imperfection refers to the absence of equilibrium in spite of willing borrowers. In other words, at the prevailing market interest rate, demand exceeds supply, but lenders are not willing to either loan more funds, or raise the interest rate charged, as they are already maximising profits.