METLIFE INC (Form: 8-K, Received: 05/21/2013 06
... expectations or forecasts of future events and use words such as “anticipate”, “estimate,” “expect,” “project” and other terms of similar meaning. Any or all forward-looking statements may turn out to be wrong, and actual results could differ materially from those expressed or implied in the forward ...
... expectations or forecasts of future events and use words such as “anticipate”, “estimate,” “expect,” “project” and other terms of similar meaning. Any or all forward-looking statements may turn out to be wrong, and actual results could differ materially from those expressed or implied in the forward ...
Ethical standards and cultural assimilation in financial services
... and that it does so because the principal in those organisations elects to write compensation contracts that induce it. We consider the contrasting case where customers are naı̈ve: that is, when they fail to anticipate the potential harm imposed upon them by the agents with whom they deal. This is a ...
... and that it does so because the principal in those organisations elects to write compensation contracts that induce it. We consider the contrasting case where customers are naı̈ve: that is, when they fail to anticipate the potential harm imposed upon them by the agents with whom they deal. This is a ...
Normative Modelling of Retirement Decisions: An
... Ignoring the existing dependency structure between mortality rates and macroeconomic changes leads the insurer to systematically underestimate true insolvency probabilities ...
... Ignoring the existing dependency structure between mortality rates and macroeconomic changes leads the insurer to systematically underestimate true insolvency probabilities ...
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 ...
Discussion Document 92 (v 8) Assessment of Group Solvency
... capital for an insurance group is adequate, especially to the extent that the group conducts activities that may adversely affect the financial / solvency position of insurance entities within the group. It covers other important issues such as investments in related entities, intra-group transactio ...
... capital for an insurance group is adequate, especially to the extent that the group conducts activities that may adversely affect the financial / solvency position of insurance entities within the group. It covers other important issues such as investments in related entities, intra-group transactio ...
Does Gender and Age Affect Investor Performance and the
... and allow for categorical or continuous predictor variables and are thus quite similar in their setup. The main difference and advantage of survival analysis comes from bringing in the time dimension to the analysis and thus allowing to examine the relationship of both timing and occurrence of outco ...
... and allow for categorical or continuous predictor variables and are thus quite similar in their setup. The main difference and advantage of survival analysis comes from bringing in the time dimension to the analysis and thus allowing to examine the relationship of both timing and occurrence of outco ...
Value-at-Risk (VaR)
... Exotic Options • Asian • Path dependent • Digital • Bermudian • Knock-in, out • Exchange of assets • Swaptions Zvi Wiener ...
... Exotic Options • Asian • Path dependent • Digital • Bermudian • Knock-in, out • Exchange of assets • Swaptions Zvi Wiener ...
Survey Expectations and the Equilibrium Risk
... volatility of risky returns, iv) the stronger persistence of the dividend yield than that of the risk-free rate, v) the longhorizon predictability of excess returns by dividend yields without predictable dividend growth, vi) the low and upward sloping term structure of interest rates with low and do ...
... volatility of risky returns, iv) the stronger persistence of the dividend yield than that of the risk-free rate, v) the longhorizon predictability of excess returns by dividend yields without predictable dividend growth, vi) the low and upward sloping term structure of interest rates with low and do ...
NBER WORKING PAPER SERIES RISK AVERSION AND OPTIMAL PORTFOLIO POLICIES IN
... investors optimizing over a single period will choose portfolios that are different from investors optimizing over multiple periods. This is because the optimal intertemporal portfolio is not necessarily instantaneously mean-variance efficient, but also provides a hedge against future shifts in the inv ...
... investors optimizing over a single period will choose portfolios that are different from investors optimizing over multiple periods. This is because the optimal intertemporal portfolio is not necessarily instantaneously mean-variance efficient, but also provides a hedge against future shifts in the inv ...
Changes in Ownership Structure
... Access to Capital Markets Mutual insurers have no publicly traded ownership rights. As such, mutual insurers have obtained additional capital in two primary ways other than demutualization: (1) establishing a publicly owned subsidiary (e.g., Metropolitan Life), and (2) issuing surplus notes (e.g., J ...
... Access to Capital Markets Mutual insurers have no publicly traded ownership rights. As such, mutual insurers have obtained additional capital in two primary ways other than demutualization: (1) establishing a publicly owned subsidiary (e.g., Metropolitan Life), and (2) issuing surplus notes (e.g., J ...
The Role of the IMF in Debt Restructurings: L I A , Moral Hazard and
... for the holders of the defaulted claims. This suggests there is a potential constructive role that could be played by the IMF in both pre- and post-default situations, by pushing for an orderly restructuring process which attempts to strike a balance between the rights of creditors and debtor at the ...
... for the holders of the defaulted claims. This suggests there is a potential constructive role that could be played by the IMF in both pre- and post-default situations, by pushing for an orderly restructuring process which attempts to strike a balance between the rights of creditors and debtor at the ...
risk management five years after the crisis
... out. Against this backdrop, new conduct issues have arisen, leading to a refocused effort. Culture, which was an issue identified at the time of the crisis, is now center stage, with most banks carrying out some kind of review or audit. The change and momentum in risk governance are set against a ba ...
... out. Against this backdrop, new conduct issues have arisen, leading to a refocused effort. Culture, which was an issue identified at the time of the crisis, is now center stage, with most banks carrying out some kind of review or audit. The change and momentum in risk governance are set against a ba ...
Stronger Risk Controls, Lower Risk: Evidence from US Bank Holding
... non-performing loans during the crisis years. Moreover, BHCs with a high 2006 RMI fared (weakly) better in terms of stock return performance, and had lower implied volatilities during the crisis years. Next, we examine a panel spanning the 9 year period from 2000–2008 to investigate whether BHCs wit ...
... non-performing loans during the crisis years. Moreover, BHCs with a high 2006 RMI fared (weakly) better in terms of stock return performance, and had lower implied volatilities during the crisis years. Next, we examine a panel spanning the 9 year period from 2000–2008 to investigate whether BHCs wit ...
Systemic Contingent Claims Analysis -- Estimating Market
... Technical elements of this model have been applied within the stress testing exercise of the Financial Sector Assessment Program (FSAP) for Germany, Spain, Sweden, the United Kingdom, and the United States between 2010 and 2012, the Global Financial Stability Report (IMF, 2009a and 2009b), as well a ...
... Technical elements of this model have been applied within the stress testing exercise of the Financial Sector Assessment Program (FSAP) for Germany, Spain, Sweden, the United Kingdom, and the United States between 2010 and 2012, the Global Financial Stability Report (IMF, 2009a and 2009b), as well a ...
The Gain-Loss Spread: A New and Intuitive
... Problems with the standard deviation do not end there. As is well known, when assets display skewness or kurtosis (i.e., “fat tails”), the standard deviation is at best limited and at worst misleading as a measure of risk. Furthermore, most investors associate risk not necessarily with volatility, b ...
... Problems with the standard deviation do not end there. As is well known, when assets display skewness or kurtosis (i.e., “fat tails”), the standard deviation is at best limited and at worst misleading as a measure of risk. Furthermore, most investors associate risk not necessarily with volatility, b ...
Rare events and investor risk aversion
... kernels to significant exogenous events by developing an event study approach allowing us to present graphical and statistical evidence. Our paper further differentiates itself from the literature in its focus on crude oil options, as the literature has focused mainly on equity and Forex markets (Co ...
... kernels to significant exogenous events by developing an event study approach allowing us to present graphical and statistical evidence. Our paper further differentiates itself from the literature in its focus on crude oil options, as the literature has focused mainly on equity and Forex markets (Co ...
Ms. Muffet, the Spider(gram)
... The global financial crisis (GFC) has underscored the importance of understanding macrofinancial developments in an increasingly complex and interconnected world. In the course of the crisis, countries have experienced the spillover of risks from one segment of the economy to others, sometimes exace ...
... The global financial crisis (GFC) has underscored the importance of understanding macrofinancial developments in an increasingly complex and interconnected world. In the course of the crisis, countries have experienced the spillover of risks from one segment of the economy to others, sometimes exace ...
What can a lender learn from a loan application?
... accepted that the borrower has decided to take a risk in respect of the asset which has been mortgaged in order to pursue other goals. Less palatable cases involve a vulnerable borrower who does not understand the nature of the risk that he or she is assuming or is otherwise unable to conserve his o ...
... accepted that the borrower has decided to take a risk in respect of the asset which has been mortgaged in order to pursue other goals. Less palatable cases involve a vulnerable borrower who does not understand the nature of the risk that he or she is assuming or is otherwise unable to conserve his o ...
Intermediary Asset Pricing
... intermediaries’ actions reflect the preferences of their client-investors. With this assumption, the traditional approach treats intermediaries as a “veil,” and instead posits that a representative household is marginal in pricing all assets. We deviate from the traditional approach for two reasons. ...
... intermediaries’ actions reflect the preferences of their client-investors. With this assumption, the traditional approach treats intermediaries as a “veil,” and instead posits that a representative household is marginal in pricing all assets. We deviate from the traditional approach for two reasons. ...
Bezp. Bank 4
... could therefore better reduce overall risk exposure as compared to smaller banks that do not have much opportunity to diversify their loan portfolio17. Government protection of larger banks could also result in large banks becoming “too big to fail” or “too interconnected to fail”18, in particular f ...
... could therefore better reduce overall risk exposure as compared to smaller banks that do not have much opportunity to diversify their loan portfolio17. Government protection of larger banks could also result in large banks becoming “too big to fail” or “too interconnected to fail”18, in particular f ...
sec business report 2003
... The volume of insurance business covered close to EUR 2.4 billion worth of transactions, an increase of more than 39% on the year before, which accounted for over 17% of Slovenia's total exports. In several foreign countries, its insurance coverage of Slovene export transactions reached beyond the m ...
... The volume of insurance business covered close to EUR 2.4 billion worth of transactions, an increase of more than 39% on the year before, which accounted for over 17% of Slovenia's total exports. In several foreign countries, its insurance coverage of Slovene export transactions reached beyond the m ...
Development of Simulation based Model to quantify the degree of
... stressed by Venkat & Barfield (2009, PwC), who clearly state that lending timescales will increase because banks will need to be more assertive when to lock in their long term funding. This decision to set “Quantification of liquidity risk continues to challenge ...
... stressed by Venkat & Barfield (2009, PwC), who clearly state that lending timescales will increase because banks will need to be more assertive when to lock in their long term funding. This decision to set “Quantification of liquidity risk continues to challenge ...
Credit Risk Assessment Revisited
... to pay 2 its credit obligations to the banking group in full, without recourse by the bank to actions such as realising security (if held)” or when “the obligor is past due more than 90 days on any material credit obligation to the banking group (…)”. This clarification was necessary not only for o ...
... to pay 2 its credit obligations to the banking group in full, without recourse by the bank to actions such as realising security (if held)” or when “the obligor is past due more than 90 days on any material credit obligation to the banking group (…)”. This clarification was necessary not only for o ...
chapter 2 estimating discount rates
... investment in a diversified portfolio is a much smaller percentage of that portfolio than would be the case if you were not diversified. Thus, any action that increases or decreases the value of only that investment or a small group of investments will have only a small impact on your overall portfo ...
... investment in a diversified portfolio is a much smaller percentage of that portfolio than would be the case if you were not diversified. Thus, any action that increases or decreases the value of only that investment or a small group of investments will have only a small impact on your overall portfo ...
Systemic Risk in Hedge Funds
... Capital Management (1998) and Amaranth Advisors LLC (2006), the realization of these high rewards can not be achieved without the commensurate systemic risk. Systemic risk should not be confused with systematic risk, which implies the market risk that affects all financial assets and cannot be avoid ...
... Capital Management (1998) and Amaranth Advisors LLC (2006), the realization of these high rewards can not be achieved without the commensurate systemic risk. Systemic risk should not be confused with systematic risk, which implies the market risk that affects all financial assets and cannot be avoid ...