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Shadow Banking: Economics and Policy
... economic demand (although assessing its overall economic value is a topic that requires additional analysis). Understanding these demand factors, and how they affect the system’s operations and risks, is essential for formulating policy responses. This paper therefore studies the two shadow banking ...
... economic demand (although assessing its overall economic value is a topic that requires additional analysis). Understanding these demand factors, and how they affect the system’s operations and risks, is essential for formulating policy responses. This paper therefore studies the two shadow banking ...
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... 20 years. Over this period, it turned a market return of 12x original capital into a return of nearly 22x original capital, after taking into account all management fees and other portfolio costs. ...
... 20 years. Over this period, it turned a market return of 12x original capital into a return of nearly 22x original capital, after taking into account all management fees and other portfolio costs. ...
Team 34 - GeeBiz
... cooperation with the Senior Experten Service will take place on a case-by-case basis without explicit costs being charged. This could change in the future once the program has been fully developed. In Rwanda, four coordinators will initially take over the implementation of LinkAid’s activities: one ...
... cooperation with the Senior Experten Service will take place on a case-by-case basis without explicit costs being charged. This could change in the future once the program has been fully developed. In Rwanda, four coordinators will initially take over the implementation of LinkAid’s activities: one ...
Capital Markets Union
... To achieve a true CMU, two different but complementary approaches need to be pursued: first, the CMU should foster the development of market-based sources of financing; and second, it should promote the increased integration of capital markets by removing barriers to crossborder transactions. Our re ...
... To achieve a true CMU, two different but complementary approaches need to be pursued: first, the CMU should foster the development of market-based sources of financing; and second, it should promote the increased integration of capital markets by removing barriers to crossborder transactions. Our re ...
Fixed Income in a Rising Rate Environment
... other factors may be impacting the intermediate and long ends of the yield curve. Since 1994, there have been three periods of increasing Federal Funds rates. However, each of these periods has had unique factors that impacted the way fixed-income investments responded, as shown in Exhibit I. Let’s ...
... other factors may be impacting the intermediate and long ends of the yield curve. Since 1994, there have been three periods of increasing Federal Funds rates. However, each of these periods has had unique factors that impacted the way fixed-income investments responded, as shown in Exhibit I. Let’s ...
Investors` Horizons and the Amplification of Market Shocks
... holdings in all the stocks they hold (even those mostly held by long horizon investors), indicating that their sales are not driven by specific characteristics of the stocks in their portfolios. Finally, to further test the causal mechanism, we focus on the investors’ funding structure. We conjectur ...
... holdings in all the stocks they hold (even those mostly held by long horizon investors), indicating that their sales are not driven by specific characteristics of the stocks in their portfolios. Finally, to further test the causal mechanism, we focus on the investors’ funding structure. We conjectur ...
Passing the Baton to Fiscal Policy
... but we expect that commercial real estate fundamental conditions will remain strong as long as unemployment remains low and the U.S. economy continues its moderate growth. We believe CMBS are poised to perform well as a result of these healthy economic conditions, but we have some concerns over supp ...
... but we expect that commercial real estate fundamental conditions will remain strong as long as unemployment remains low and the U.S. economy continues its moderate growth. We believe CMBS are poised to perform well as a result of these healthy economic conditions, but we have some concerns over supp ...
Are Universal Banks Better Intermediaries? ∗ Daniel Neuhann Farzad Saidi
... one loan and underwriting service concurrently from the same universal bank in or after 1996. The control group consists of firms that in or after 1996 received at least one loan from a universal bank but trusted another bank with an underwriting mandate. To pick a control group of firms with unive ...
... one loan and underwriting service concurrently from the same universal bank in or after 1996. The control group consists of firms that in or after 1996 received at least one loan from a universal bank but trusted another bank with an underwriting mandate. To pick a control group of firms with unive ...
Basel III Pillar 3 Regulatory Capital Disclosure Report 12.31.15
... our financial statements consolidate all of our subsidiaries – i.e., entities in which we have a controlling financial interest, most often because we hold a majority voting interest. In addition, all periods subsequent to June 30, 2014 are presented on a consolidated basis. To determine if we hold ...
... our financial statements consolidate all of our subsidiaries – i.e., entities in which we have a controlling financial interest, most often because we hold a majority voting interest. In addition, all periods subsequent to June 30, 2014 are presented on a consolidated basis. To determine if we hold ...
MANAGING YOUR MARGIN LOAN - CommSec
... WHAT ARE THE POTENTIAL RISKS? There’s no doubt that every investment involves some risk. A Margin Loan is a powerful financial tool that allows you to create a larger market exposure than you could afford using just your own capital. This also means that price movements of your holdings have a multi ...
... WHAT ARE THE POTENTIAL RISKS? There’s no doubt that every investment involves some risk. A Margin Loan is a powerful financial tool that allows you to create a larger market exposure than you could afford using just your own capital. This also means that price movements of your holdings have a multi ...
2016:6 Skanska Financial Services AB Decision
... relates to a fundamental rule to protect the investors. However, the Committee finds that it has been shown that the violation in this case had very marginal significance for investors and for the securities market. It should also be taken into consideration that, according to case law which has bee ...
... relates to a fundamental rule to protect the investors. However, the Committee finds that it has been shown that the violation in this case had very marginal significance for investors and for the securities market. It should also be taken into consideration that, according to case law which has bee ...
A Causal Framework for Credit Default Theory
... and insolvency are necessary and sufficient for credit default. In reality a credit default event for a secured loan is a sequence of two temporally separated events: a delinquency event followed by an insolvency event. If a borrower always make full loan payments by due dates, insolvency is irrelev ...
... and insolvency are necessary and sufficient for credit default. In reality a credit default event for a secured loan is a sequence of two temporally separated events: a delinquency event followed by an insolvency event. If a borrower always make full loan payments by due dates, insolvency is irrelev ...
Target Asset Allocation
... behavior of the stock and bond market may have impacted, and compared with, the represented asset mix. To produce the graphs, asset classes are mapped to market indexes that Morningstar deemed to be representative of the asset class. A description of the asset class mappings to indexes appears below ...
... behavior of the stock and bond market may have impacted, and compared with, the represented asset mix. To produce the graphs, asset classes are mapped to market indexes that Morningstar deemed to be representative of the asset class. A description of the asset class mappings to indexes appears below ...
Predicting Failures of Large U.S. Commercial Banks
... The evolution and history of bankruptcy prediction models and banking crises is also studied in order to develop the base for the bank failure model. It is also noted that several bankruptcy prediction models contain financial statement variables. In addition, by studying the history of the banking ...
... The evolution and history of bankruptcy prediction models and banking crises is also studied in order to develop the base for the bank failure model. It is also noted that several bankruptcy prediction models contain financial statement variables. In addition, by studying the history of the banking ...
View PDF - CiteSeerX
... conditions - and thus the rationing mechanism for each individual. Consider, for example, the approach of Mushinski (1996, 1999) who was interested in explaining formal credit market participation in Guatemala. In addition to loan quantities, the survey asked if farmers had applied and been rejected ...
... conditions - and thus the rationing mechanism for each individual. Consider, for example, the approach of Mushinski (1996, 1999) who was interested in explaining formal credit market participation in Guatemala. In addition to loan quantities, the survey asked if farmers had applied and been rejected ...
INVENTORY finance
... • Retailers, for the purchase of equipment and consumer durable goods such as vehicles for resale to consumers (sometimes described as “floor plan financing”). ...
... • Retailers, for the purchase of equipment and consumer durable goods such as vehicles for resale to consumers (sometimes described as “floor plan financing”). ...
Soobschenie_viplata_kupon_09.12.10_EN
... payable on the issuer’s bonds: procedure for determining interest/coupon rate of the Bonds was specified by the Decision on securities issue approved by the Board of Directors of JSC TransContainer on March 18, 2010 (Minutes No. 16 of March 19, 2010). In accordance with the Decision on securities is ...
... payable on the issuer’s bonds: procedure for determining interest/coupon rate of the Bonds was specified by the Decision on securities issue approved by the Board of Directors of JSC TransContainer on March 18, 2010 (Minutes No. 16 of March 19, 2010). In accordance with the Decision on securities is ...
Investment Management Regulatory Update
... (including certain administrative orders, industry bars, an injunction involving select securities law violations or specified criminal convictions). The disqualification provisions of Rule 506 are similar to those of Rule 262 and Rule 505, but have slightly different covered parties. For instance, ...
... (including certain administrative orders, industry bars, an injunction involving select securities law violations or specified criminal convictions). The disqualification provisions of Rule 506 are similar to those of Rule 262 and Rule 505, but have slightly different covered parties. For instance, ...
Joint Stock Company “The Ural Bank for Reconstruction and
... risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appr ...
... risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appr ...
Sberbank of Russia
... Sberbank of Russia is the largest bank in Russia that accounts for almost one third of all Russian banking sector assets. The Central Bank of the Russian Federation is the founder and major shareholder of Sberbank, owning 50 % of the total share capital plus one voting share. Other shares are held b ...
... Sberbank of Russia is the largest bank in Russia that accounts for almost one third of all Russian banking sector assets. The Central Bank of the Russian Federation is the founder and major shareholder of Sberbank, owning 50 % of the total share capital plus one voting share. Other shares are held b ...
Presentación de PowerPoint
... (3) Minimum Anchor Allocation: With respect to an Anchor Funder, the portion of its Anchor Commitment in respect of each Tranche, specified as such in its Anchor Acceptance Confirmation, provided that must not be more than 50% of its Anchor Commitment for that Tranche (4) With regards to New Money T ...
... (3) Minimum Anchor Allocation: With respect to an Anchor Funder, the portion of its Anchor Commitment in respect of each Tranche, specified as such in its Anchor Acceptance Confirmation, provided that must not be more than 50% of its Anchor Commitment for that Tranche (4) With regards to New Money T ...
Alternative Investments as Modern Financial Innovations
... instruments such as stocks, bonds and other debt instruments with high investment risk assessment or banking instruments, e.g. certificates of deposit. This concept of alternative investments is also presented by De˛bski (2006), who defines this category as all investments that are not included in t ...
... instruments such as stocks, bonds and other debt instruments with high investment risk assessment or banking instruments, e.g. certificates of deposit. This concept of alternative investments is also presented by De˛bski (2006), who defines this category as all investments that are not included in t ...
Pensions and Investments Trends in Emerging
... “I am actually more concerned about the long-term and take notice. prospects for developed countries such as the U.S.,” Cirami said. “To see emerging markets grow faster than developed SILVER LINING will be exciting across all EM asset classes.” But there is a silver lining: In the past few months, ...
... “I am actually more concerned about the long-term and take notice. prospects for developed countries such as the U.S.,” Cirami said. “To see emerging markets grow faster than developed SILVER LINING will be exciting across all EM asset classes.” But there is a silver lining: In the past few months, ...