Danish Covered Bond Handbook
... Despite the significant fall in house prices during the financial crisis, the level of repossessed dwellings and loans in arrears has been very low. This is due to the low unemployment rate in Denmark and the strong mortgage legislation. Chart 2. Repossessed dwellings and loans in arrears ...
... Despite the significant fall in house prices during the financial crisis, the level of repossessed dwellings and loans in arrears has been very low. This is due to the low unemployment rate in Denmark and the strong mortgage legislation. Chart 2. Repossessed dwellings and loans in arrears ...
Managing the Man Overboard Moment
... immediate attention, are stressful, and require swift action. In an investment firm it is common for a number of professionals to stop what they are doing in order to discern a suitable course of action. The use of a checklist is one approach to making good decisions under pressure. In his superb bo ...
... immediate attention, are stressful, and require swift action. In an investment firm it is common for a number of professionals to stop what they are doing in order to discern a suitable course of action. The use of a checklist is one approach to making good decisions under pressure. In his superb bo ...
Estimating an Equilibrium Model of Limit Order Markets
... taking it have a timing component however. A market order executes with an order that came before it. The active trader making the market order may have information newer to the market than information liquidity suppliers had when offering shares. If this information asymmetry fully characterized tr ...
... taking it have a timing component however. A market order executes with an order that came before it. The active trader making the market order may have information newer to the market than information liquidity suppliers had when offering shares. If this information asymmetry fully characterized tr ...
westpac`s response to the final report of the financial system inquiry
... An example of a phased approach to retirement income could be: o Phase 1 to focus on the delivery of a flexible income stream of 65-70% income replacement (with access to capital) from retirement age up to mean mortality age (the ‘active stage’); and o Phase 2 to focus on a stable or guaranteed inco ...
... An example of a phased approach to retirement income could be: o Phase 1 to focus on the delivery of a flexible income stream of 65-70% income replacement (with access to capital) from retirement age up to mean mortality age (the ‘active stage’); and o Phase 2 to focus on a stable or guaranteed inco ...
Forthcoming, Journal of Empirical Finance Measuring The Market
... "small bet" by large hedge funds can be a sizeable transaction that can impact a market. This study estimates hedge fund exposures during a number of major market events. In some episodes, hedge funds had significant exposures and were in a position to exert substantial market impact. In other episo ...
... "small bet" by large hedge funds can be a sizeable transaction that can impact a market. This study estimates hedge fund exposures during a number of major market events. In some episodes, hedge funds had significant exposures and were in a position to exert substantial market impact. In other episo ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... is 20 percent, the loan- to-value (LTV) ratio is 80 percent, and the leverage is 5 to 1. These ratios are all diVerent ways of saying the same thing. These leverage numbers on individual loans and collateral are the building blocks out of which aggregate measures of asset leverage, institutional lev ...
... is 20 percent, the loan- to-value (LTV) ratio is 80 percent, and the leverage is 5 to 1. These ratios are all diVerent ways of saying the same thing. These leverage numbers on individual loans and collateral are the building blocks out of which aggregate measures of asset leverage, institutional lev ...
Forced Sale Risk: Class, Race, and the “Double Discount”
... part, the economic impacts of forced sales of rural property owned by both white Americans and African Americans in the rural South. Our study was motivated by the fact that very few legal scholars or judges have considered the economic impacts that forced sales of real property might have upon grou ...
... part, the economic impacts of forced sales of rural property owned by both white Americans and African Americans in the rural South. Our study was motivated by the fact that very few legal scholars or judges have considered the economic impacts that forced sales of real property might have upon grou ...
LEVERAGE, HEDGE FUNDS AND RISK
... Return on Assets (ROA) ing a return on assets Gross Profit/Loss (P&L) (ROA) of 10% to an Cost of Leverage (at risk-free rate of 2%) ROE of 26% when 2x Net Profit/Loss (P&L) leverage (Debt/Equity) Return on Equity (ROE) is used. However, with a -10% ROA, 2x lever- Asset Prices Fall Leverage (Debt/Equ ...
... Return on Assets (ROA) ing a return on assets Gross Profit/Loss (P&L) (ROA) of 10% to an Cost of Leverage (at risk-free rate of 2%) ROE of 26% when 2x Net Profit/Loss (P&L) leverage (Debt/Equity) Return on Equity (ROE) is used. However, with a -10% ROA, 2x lever- Asset Prices Fall Leverage (Debt/Equ ...
The Federal Reserve sets the nation`s monetary policy to promote
... est rates would increase if the Federal Reserve surprised market participants by announcing an increase in the federal funds rate, or if some event prompted market participants to believe that the Federal Reserve was going to be holding the federal funds rate at higher levels than had been anticipat ...
... est rates would increase if the Federal Reserve surprised market participants by announcing an increase in the federal funds rate, or if some event prompted market participants to believe that the Federal Reserve was going to be holding the federal funds rate at higher levels than had been anticipat ...
Financial Stability Oversight Council: A Framework to Mitigate
... Exchange Commission (SEC).2 Bankruptcy courts were to handle failures among most other nonbanks. The government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, are large, complex financial institutions that did not accept deposits, but had their own prudential regulatory regime under the O ...
... Exchange Commission (SEC).2 Bankruptcy courts were to handle failures among most other nonbanks. The government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, are large, complex financial institutions that did not accept deposits, but had their own prudential regulatory regime under the O ...
The Effect of Change in Base Lending Rate on
... For the past few years, central bank of Kenya through the monetary committee has actively changed base lending rate from time to time. This has mostly been attributed by inflation and exchange rate. Subsequently the no of microfinance bank have risen from one in year 2009 to twelve by 31st may 2015. ...
... For the past few years, central bank of Kenya through the monetary committee has actively changed base lending rate from time to time. This has mostly been attributed by inflation and exchange rate. Subsequently the no of microfinance bank have risen from one in year 2009 to twelve by 31st may 2015. ...
Economic choices and consequences
... Given the basic economic problem of relative scarcity, there are limits on the quantity of goods and services that a country can produce (i.e. the level of its GDP is held down). Not all the wants of individuals and society can be satisfied using the resources currently available. As a result, we ar ...
... Given the basic economic problem of relative scarcity, there are limits on the quantity of goods and services that a country can produce (i.e. the level of its GDP is held down). Not all the wants of individuals and society can be satisfied using the resources currently available. As a result, we ar ...
Alternative Investments as Modern Financial Innovations
... (2013), a hedge fund is an alternative investment vehicle available only to sophisticated investors, such as institutions and individuals with significant assets http://www.barclayhedge.com/research/educational-articles/hedge-fund-strategydefinition/what-is-a-hedge-fund.html. Institution Eurekahedge ...
... (2013), a hedge fund is an alternative investment vehicle available only to sophisticated investors, such as institutions and individuals with significant assets http://www.barclayhedge.com/research/educational-articles/hedge-fund-strategydefinition/what-is-a-hedge-fund.html. Institution Eurekahedge ...
financial stability report
... After a relatively weak first half of the year in 2016, international economic activity increased in the second half, and this trend has continued into the opening months of 2017. However, the pace of growth remains subdued and much uncertainty surrounds the global macroeconomic outlook, owing mainl ...
... After a relatively weak first half of the year in 2016, international economic activity increased in the second half, and this trend has continued into the opening months of 2017. However, the pace of growth remains subdued and much uncertainty surrounds the global macroeconomic outlook, owing mainl ...
United States housing bubble
The United States housing bubble was an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012. On December 30, 2008, the Case-Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is—according to general consensus—the primary cause of the 2007–2009 recession in the United States.Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble ""the most significant risk to our economy.""Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Wall Street hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. Concerns about the impact of the collapsing housing and credit markets on the larger U.S. economy caused President George W. Bush and the Chairman of the Federal Reserve Ben Bernanke to announce a limited bailout of the U.S. housing market for homeowners who were unable to pay their mortgage debts.In 2008 alone, the United States government allocated over $900 billion to special loans and rescues related to the U.S. housing bubble, with over half going to Fannie Mae and Freddie Mac (both of which are government-sponsored enterprises) as well as the Federal Housing Administration. On December 24, 2009, the Treasury Department made an unprecedented announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years despite acknowledging losses in excess of $400 billion so far. The Treasury has been criticized for encroaching on spending powers that are enumerated for Congress alone by the United States Constitution, and for violating limits imposed by the Housing and Economic Recovery Act of 2008.