ODART 2017-1 Private Placement Memorandum
... • Overcollateralization, which is the excess of the aggregate adjusted loan principal balance of the direct auto loans
over the aggregate principal balance of the Notes and is described more fully under “Summary Information—Credit
Enhancement” in this private placement memorandum.
• Excess spread av ...
Study on the remuneration provisions applicable to credit institutions
... excessive risk-taking behaviour. The present research investigates the impact of the
Capital Requirement Directive and Regulation (CRD IV package) on this type of
behaviour. The research shows that the Directive has had a significant effect on risk
management. Deferral of variable pay, malus arrange ...
Form ADV Part 2
... it possible for anyone to access state-of-the-art portfolio management. Wealthfront’s investment
objective is to seek maximum long-term, risk-adjusted, after-tax, net of fee returns.
Taxable Accounts and Individual Retirement Accounts (“IRAs”)
Each individualized taxable (“taxable”) account or IRA p ...
(including those from current exposure drafts) March 2015 1980
... business in the state for which the certification is being prepared and for the period covered by the
certification, projected premiums in the aggregate, including expected reinsurance cash flows,
governmental risk adjustment cash flows, and investment income, are adequate to provide for all expecte ...
Principles for Financial Market Infrastructures (PFMIs
... The governance structure consists of the NGX Board of Directors, including its Risk and Audit
Committee, NGX Senior Management team, business units and corporate functions, risk
management functions and TMX Internal Audit. The NGX Board, directly or through its Risk and
Audit Committee (“RAC”), is r ...
... Documents Produced in Other Civil Lawsuits, and Analysis of the
Loan Pools Underlying the Certificates Identify Systematic
Violation of Underwriting Guidelines, Appraisal Guidelines, and
Predatory Lending by the Originators Whose Loans Back the
PLMBS in this Case..................................... ...
2012 Form 20-F ING Groep N.V.
... Under IFRS-EU, ING Group applies fair value hedge accounting for portfolio hedges of interest rate risk (fair
value macro hedges) in accordance with the EU “carve-out” version of IAS 39. Under the EU “IAS 39 carve-out”,
hedge accounting may be applied, in respect of fair value macro hedges, to core ...
Nordea Annual Report 2016
... way of banking to quickly adapt to customers’ needs, today and in the future.
By investing in people and new technology, we lay the foundations to become
the bank our customers want us to be.
The ongoing development will increase
usability, make us faster and more agile,
and provide a more relevant ...
Merrill Lynch Mortgage Investors, Inc.
... certain characteristics of each such class, including the class’s initial
certificate principal balance, interest rate and rating.
The trust fund will consist primarily of sub-prime mortgage loans
secured by first and second liens on real properties that were acquired by
Merrill Lynch Mortgage Lendi ...
Building on Our Proud Heritage
... Besides being more profitable, we have become more versatile, more efficient and more
responsive. This is the lasting legacy of Michael Diekmann, my predecessor as Chairman
of the Board of Management. In twelve years, many of which were plagued by crisis, he
took your company to new levels of perfo ...
Influencing Control: Jawboning in Risk Arbitrage
... investors becomes an increasingly more common form of corporate governance,2 its blend
with a popular, traditionally non-activist, arbitrage strategy is instructive. A signature of
institutional investor activism has been that it strives to influence corporate policies and
governance, but does not ...
... company (the “reinsured, “cedent” or “primary” company)
against all or part of the loss that the latter sustains under
a policy or policies that it has issued. For this service, the
ceding company pays the reinsurer a premium.
The purpose of reinsurance is the same as that of insurance:
to spread ri ...
Copula-based top-down approaches in financial risk aggregation
... source of banking risks), whose magnitude does not only depend on the size
of the exposure but also on the riskiness of the credit portfolio.2 The one-year
survival probability (of the financial institution) is targeted at 99.9% per year
(i.e. the expected probability of default is no more than 0.1% ...
Knowingly taking risk Investment decision making in real estate
... Now my PhD thesis has been published, the real estate development sector is suffering the effects of the credit crunch. Markets are on
the downturn and companies are facing the consequences of the risks
they have taken. This makes research in risk management more relevant and timely than ever before ...
Public-Sector Loans to Private-Sector Businesses
... that, if successful, businesses repay the funds borrowed and these repayments become
available (or are “revolved”) to make new loans to other borrowers.
Several federal agencies have provided funding to state and local government agencies
to create revolving loan funds. For example, the Economic Dev ...
American International Group, Inc. 2016 Annual Report
... transaction in history. The agreement radically
reduces AIG’s risk of significant future adverse
development and covers our most unpredictable,
long-tail U.S. Commercial exposures for accident
years 2015 and prior, whereby Berkshire is
responsible for 80% of future potential losses, up
to a limit of ...
Periodic Report for 2015
... Note concerning implementation of the provisions of the Securities (Periodic and Immediate Reports) Regulations, 1970
(“Securities Regulations”) in this report:
Pursuant to Regulation 8C of the Securities Regulations, the provisions of Regulation 8A of the Securities Regulations in
relation to the P ...
Prospectus - Franklin Templeton Investment Funds (SICAV)
... The Company and the Management Company draw the Investors’ attention to the fact that any Investor will only be able to fully exercise
her/his Investor’s rights directly against the Company, notably the right to participate in general meetings of the Shareholders, if the Investor
is registered himse ...
... (including Private Banking)
#14 in new mortgage production
AON CORP (Form: 10-K, Received: 03/16/2005 06
... exclusive underwriting facilities.
In our managing general underwriting business, we provide outsourced solutions to insurance companies, such as risk selection, premium
rating, form design and client service.
Aon's wholesale brokers and managing general underwriting units offer more than 450 insura ...
The Misguided Beliefs of Financial Advisors
... their clients and for themselves, the funds promoted by their dealer. Differences between dealers,
however, explain little of the differences in client behavior. For example, client attributes alone
explain 1.0% of the cross-sectional variation in clients’ return-chasing behavior. The R2 increases
Premium Liabilities - Actuaries Institute
... of premium liability assessment for Australian insurance and reinsurance companies.
However, premium liabilities have not traditionally received much attention in actuarial
assessments. There is little published literature that general insurance actuaries can reference
to assist their work.
The most ...
Skandia Annual Report
... The result before tax was SEK -407 million (-4,260).
The result for unit linked assurance amounted to SEK
839 million (972), despite a strengthening of technical
reserves in the amount of SEK 300 million. Shares in
subsidiaries were written down by SEK 2,849 million,
which is associated with dividen ...
In economics, moral hazard occurs when one person takes more risks because someone else bears the burden of those risks. A moral hazard may occur where the actions of one party may change to the detriment of another after a financial transaction has taken place.Moral hazard occurs under a type of information asymmetry where the risk-taking party to a transaction knows more about its intentions than the party paying the consequences of the risk. More broadly, moral hazard occurs when the party with more information about its actions or intentions has a tendency or incentive to behave inappropriately from the perspective of the party with less information.Moral hazard also arises in a principal–agent problem, where one party, called an agent, acts on behalf of another party, called the principal. The agent usually has more information about his or her actions or intentions than the principal does, because the principal usually cannot completely monitor the agent. The agent may have an incentive to act inappropriately (from the viewpoint of the principal) if the interests of the agent and the principal are not aligned.