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ING Group Inaugural AT1 Roadshow (PDF 0,4 Mb)
ING Group Inaugural AT1 Roadshow (PDF 0,4 Mb)

... • We will aim to maintain a comfortable buffer above the minimum 10% to absorb regulatory changes and potential volatility ...
payments and securities clearance and settlement systems in
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... The Kazakhstan Interbank Settlement Center (KISC) of the National Bank of Kazakhstan is currently acting as Technical Secretariat of the CISPI and is playing a major role in making the process sustainable. To this end, the initiative has helped strengthen KISC's in-house expertise. Additionally, pra ...
ROYAL BANK OF CANADA
ROYAL BANK OF CANADA

... unsecured debt obligations of the issuer, Royal Bank of Canada, and are not, either directly or indirectly, an obligation of any third party. Any payment to be made on the Securities, including any repayment of principal at maturity, depends on the ability of Royal Bank of Canada to satisfy its obli ...
SunAmerica Dynamic Allocation Portfolio Summary
SunAmerica Dynamic Allocation Portfolio Summary

... derivative instruments to manage the Portfolio’s net equity exposure. The derivative instruments used by the Overlay Component will primarily consist of stock index futures and stock index options, but may also include options on stock index futures and stock index swaps. The aforementioned derivati ...
BARCLAYS BANK PLC (Form: 424B2, Received: 12/30
BARCLAYS BANK PLC (Form: 424B2, Received: 12/30

... lower returns, of fixed income investments with comparable maturities and credit ratings that bear interest at a prevailing market rate. ...
Reporting Responsibilities on U.S. Holdings of Foreign Securities
Reporting Responsibilities on U.S. Holdings of Foreign Securities

... SLT is a monthly report required by the U.S. Department of the Treasury, which is being assisted by the FRBNY, to gather information (i) on U.S.-resident holdings of certain foreign securities and (ii) on foreign-resident holdings of certain U.S. securities. TIC SLT must be filed if, as of the last ...
Portfolio rebalancing is the process of bringing the different asset
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... that are expected to outperform over the shorter term. ...
initial public offer of securities
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... applied for securities in the value of HK$5 million or less. The securities in pool B should be allocated on an equitable basis to applicants who have applied for securities in the value of more than HK$5 million and up to the value of pool B. Where one of the pools is undersubscribed, the surplus s ...
Insights 1213_Berman.indd
Insights 1213_Berman.indd

... Issuers with affiliated broker-dealers (typically, financial holding companies) will note the registration of the resale by the broker-dealer of the issuer’s securities in market-making transactions by means of a footnote under the “Calculation of Registration Fee” table in the issuer’s Form S-3 or ...
Tax-exempt housing bonds: municipals and mortgages intersect
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... Contractually, housing bonds cannot extend beyond their stated final maturities, but there are potentially many ways for the bonds to be redeemed before the stated final maturity. Thus, it is a challenge for investors to analyze the expected duration of housing bonds given the number of options invo ...
The Role of Bond Covenants in Municipal Finance Credit
The Role of Bond Covenants in Municipal Finance Credit

... Additional bonds test - the additional bonds test restricts the issuance of additional bonds to an amount that would leave the revenue stream sufficient to pay both the existing and proposed debt. The test is intended to ensure that future bond issuance does not reduce bondholder security by placing ...
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GEORGE MASON UNIVERSITY

... than typical fixed income funds. ...
NATIONAL HOLDINGS CORP (Form: SC 13D
NATIONAL HOLDINGS CORP (Form: SC 13D

... (b) The address of the principal office of Mr. Klein is 590 Madison Avenue, 29th Floor, New York, NY 10022. (c) The principal occupation of Mr. Klein is serving as an employee of B. Riley Capital Management, LLC, a registered investment advisor, with a principal business address of 11100 Santa Monic ...
TF Vanguard Small-Cap Index Fund
TF Vanguard Small-Cap Index Fund

... other than the Transamerica Stable Value investment choice(s), is subject to market risk. Principal value and investment return will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the per ...
Business 3 Template
Business 3 Template

... C. The authorized capital of the company. D. Action plan for the first three years from the date of establishment, including the actions and procedures for collecting, entering, retrieving the information and the security and protection of credit information and credit reports and its confidentialit ...
Invesco Diversified Dividend Ret Opt
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... other than the Transamerica Stable Value investment choice(s), is subject to market risk. Principal value and investment return will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the per ...
Repurchase agreements and the law
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... In  2000,  however,  a  court  ruling  in  the  bankruptcy  of  Criimi  Mae,  a  publicly  held   commercial  mortage  REIT,  took  market  participants  by  surprise,  creating  a   disturbance  in  the  repo  market  (Schroeder  2002, ...
CFTC Grants No-Action Relief from Clearing Requriment for Certain
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... For each exempted swap, the reporting counterparty is required to provide notice of the election and confirmation that the electing party satisfies the conditions of the No-Action Relief. The reporting counterparty must have a reasonable basis to believe that the electing counterparty meets these co ...
INVESTMENT POLICY STATEMENT APPROVED JANUARY 30
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The Myths and Fallacies about Diversified Portfolios
The Myths and Fallacies about Diversified Portfolios

... frontier – but only if you make the assumption that all of the securities have the same Sharpe ratio, the same volatilities, the same expected returns and the same pairwise correlations. Maximizing the diversification ratio Choueifaty and Coignard (2008) defined a measure of diversification by formi ...
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... initial P&L is zero and both counterparties agree the price.  The entity has implicitly made a capital distribution (decrease) to the shareholder and share intrinsic value decrease but time value increases. DVA is like a dividend in kind.  Basel III paragraph 75 seems correct: the new derivative g ...
MODERN RISK MANAGEMENT
MODERN RISK MANAGEMENT

... • There are several types of risks which any bank or corporation has to face. Today and tomorrow we are focusing especially on two of them, namely market risk (risk caused by changes in market prices) and credit risk (risk caused by changes in creditworthiness of our debtors or counterparties). • O ...
Credit Management
Credit Management

... Charge Accounts • Revolving Accounts • Most popular form of sales credit • Charge purchases at any time, but only part of the debt must be paid each month • A credit limit is set for the maximum amount to be spent • Payments are required once a month, but it doesn’t have to be the FULL payment • A ...
Risk Management Lessons from the Credit Crisis
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... risk factors, could be incorrect. These fall in the broad category of model risk. As an example of the first problem, many portfolios unexpected lost money on basis trades during 2008. These involve hedged positions. For instance, a trader could buy a corporate bond and at the same time purchase a c ...
AVEO Announces $17 Million Private Placement CAMBRIDGE
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... announced that it entered into a securities purchase agreement for a private placement with a select group of qualified institutional buyers, institutional accredited investors and accredited investors. The private placement will consist of 17,642,482 units, at a price of $0.965 per unit, for gross ...
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Synthetic CDO

A Synthetic CDO (collateralized debt obligation) is a variation of a CDO that generally uses credit default swaps and other derivatives to obtain its investment goals. As such, it is a complex derivative financial security sometimes described as a bet on the performance of other mortgage (or other) products, rather than a real mortgage security. The value and payment stream of a synthetic CDO is derived not from cash assets, like mortgages or credit card payments — as in the case of a regular or ""cash"" CDO — but from premiums paying for credit default swap ""insurance"" on the possibility that some defined set of ""reference"" securities — based on cash assets — will default. The insurance-buying ""counterparties"" may own the ""reference"" securities and be managing the risk of their default, or may be speculators who've calculated that the securities will default.Synthetics thrived for a brief time because they were cheaper and easier to create than traditional CDOs, whose raw material, mortgages, was beginning to dry up.In 2005 the synthetic CDO market in corporate bonds spread to the mortgage-backed securities market, where the counterparties providing the payment stream were primarily hedge funds or investment banks hedging, or often betting that certain debt the synthetic CDO referenced — usually ""tranches"" of subprime home mortgages — would default. Synthetic issuance jumped from $15 billion in 2005 to $61 billion in 2006, when synthetics became the dominant form of CDO's in the US, valued ""notionally"" at $5 trillion by the end of the year according to one estimate.Synthetic CDOs are controversial because of their role in the subprime mortgage crisis. They enabled large wagers to be made on the value of mortgage-related securities, which critics argued may have contributed to lower lending standards and fraud.Synthetic CDOs have been criticized as serving as a way of hiding short position of bets against the subprime mortgages from unsuspecting triple-A seeking investors, and contributing to the 2007-2009 financial crisis by amplifying the subprime mortgage housing bubble. By 2012 the total notional value of synthetics had been reduced to a couple of billion.
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