What is a Systemically Important Financial Institution?
... a principal components analysis becomes concentrated in a single factor. A modification of this approach by Reyngold, Shnyra, and Stein (2013) denoted Credit Absorption Ratio (CAR) extends AR to default risk data. And Carciente, Kenett, Avakia, Stanley, and Havlin (2015) undertake systemic stress te ...
... a principal components analysis becomes concentrated in a single factor. A modification of this approach by Reyngold, Shnyra, and Stein (2013) denoted Credit Absorption Ratio (CAR) extends AR to default risk data. And Carciente, Kenett, Avakia, Stanley, and Havlin (2015) undertake systemic stress te ...
PowerPoint Ch. 16
... An unrealized loss on available-for-sale securities is: a. reported under Other Expenses and Losses in the income statement. b. closed-out at the end of the accounting period. c. reported as a separate component of stockholders' equity. d. deducted from the cost of the investment. ...
... An unrealized loss on available-for-sale securities is: a. reported under Other Expenses and Losses in the income statement. b. closed-out at the end of the accounting period. c. reported as a separate component of stockholders' equity. d. deducted from the cost of the investment. ...
Emerging Market Corporate Debt: An Attractive Investment Opportunity
... ranging from AAA-rated Singapore and Hong Kong to B- rated Argentina, Ghana and Egypt. The benchmark CEMBI broad index has an average credit quality of BBB-/Baa3, despite the downgrades of Russia and Brazil in recent years. The credit quality of the index reflects the growth in investment grade rate ...
... ranging from AAA-rated Singapore and Hong Kong to B- rated Argentina, Ghana and Egypt. The benchmark CEMBI broad index has an average credit quality of BBB-/Baa3, despite the downgrades of Russia and Brazil in recent years. The credit quality of the index reflects the growth in investment grade rate ...
economic insights - CIBC World Markets Research
... CIBC World Markets Inc. • PO Box 500, 161 Bay Street, Brookfield Place, Toronto, Canada M5J 2S8 • Bloomberg @ CIBC • (416) 594-7000 C I B C W o r l d M a r k e t s C o r p • 3 0 0 M a d i s o n A v e n u e , N e w Yo r k , N Y 1 0 0 1 7 • ( 2 1 2 ) 8 5 6 - 4 0 0 0 , ( 8 0 0 ) 9 9 9 - 6 7 2 6 ...
... CIBC World Markets Inc. • PO Box 500, 161 Bay Street, Brookfield Place, Toronto, Canada M5J 2S8 • Bloomberg @ CIBC • (416) 594-7000 C I B C W o r l d M a r k e t s C o r p • 3 0 0 M a d i s o n A v e n u e , N e w Yo r k , N Y 1 0 0 1 7 • ( 2 1 2 ) 8 5 6 - 4 0 0 0 , ( 8 0 0 ) 9 9 9 - 6 7 2 6 ...
Bond Valuation - WordPress.com
... • 5-2b Coupon Interest Rate – Some bonds pay no coupons at all but are offered at a substantial discount below their par values and hence provide capital appreciation rather than interest income. – These securities are called zero coupon bonds (“zeros”). Most zero coupon bonds are Treasury bonds, al ...
... • 5-2b Coupon Interest Rate – Some bonds pay no coupons at all but are offered at a substantial discount below their par values and hence provide capital appreciation rather than interest income. – These securities are called zero coupon bonds (“zeros”). Most zero coupon bonds are Treasury bonds, al ...
Chapter 1: An Introduction to Corporate Finance
... Leases can include options to cancel the lease, or other customizations that benefit the lessee ...
... Leases can include options to cancel the lease, or other customizations that benefit the lessee ...
Foreign exchange intervention in Venezuela
... Pedauga (2003) identified moments in which the BCV was presumed to have intervened in the market to control for excess volatility. Most of these moments coincided or led by, one or two days, the date when the BCV intervened. However, this study identified fewer than the 50% of the days where the ban ...
... Pedauga (2003) identified moments in which the BCV was presumed to have intervened in the market to control for excess volatility. Most of these moments coincided or led by, one or two days, the date when the BCV intervened. However, this study identified fewer than the 50% of the days where the ban ...
Common Stock Ratios
... • Summary of a company’s cash flows and other events that caused changes in company’s cash – Sources of Cash: proceeds from sale of products/ services, sales of equipment, borrowing money, sale of stock – Use of Cash: payment of wages and/or materials, payment of operating expenses, purchases of equ ...
... • Summary of a company’s cash flows and other events that caused changes in company’s cash – Sources of Cash: proceeds from sale of products/ services, sales of equipment, borrowing money, sale of stock – Use of Cash: payment of wages and/or materials, payment of operating expenses, purchases of equ ...
The Handbook of Mortgage-Backed Securities, 7th Edition
... Brunnermeier argued that, in essence, market discipline was transitory because a large portion of the credit risk was quickly transferred and ultimately borne by other parties. 21 In an efficiently operating market, incentives are aligned via a combination of actual and predicted market signals suc ...
... Brunnermeier argued that, in essence, market discipline was transitory because a large portion of the credit risk was quickly transferred and ultimately borne by other parties. 21 In an efficiently operating market, incentives are aligned via a combination of actual and predicted market signals suc ...
DNB Bank International Bond Portfolio
... consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the Note, even if advised of the possibility of such damages. Any opinions expressed herein reflect the Bank’s judgment at th ...
... consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the Note, even if advised of the possibility of such damages. Any opinions expressed herein reflect the Bank’s judgment at th ...
Lecture Presentation to accompany Investment Analysis & Portfolio
... Uncertainty caused by the use of debt financing. Borrowing requires fixed payments which must be paid ahead of payments to stockholders. The use of debt increases uncertainty of stockholder income and causes an increase in the stock’s risk premium. ...
... Uncertainty caused by the use of debt financing. Borrowing requires fixed payments which must be paid ahead of payments to stockholders. The use of debt increases uncertainty of stockholder income and causes an increase in the stock’s risk premium. ...
Addressing the pro-cyclicality of capital requirements with a
... at reasonable prices. This is motivated by a lower risk premium during periods when the discount factor is low; however, the opposite occurs in recessions. It is only when capital is scarce that the bank is asked to raise more of it. As we witnessed in the recent financial crisis, either capital can ...
... at reasonable prices. This is motivated by a lower risk premium during periods when the discount factor is low; however, the opposite occurs in recessions. It is only when capital is scarce that the bank is asked to raise more of it. As we witnessed in the recent financial crisis, either capital can ...
Heterogeneous Risk Preferences in Financial Markets
... that of Cvitanić et al. (2011), who study an economy populated by N agents who differ in their risk aversion parameter, their rate of time preference, and their beliefs. However, they focus on issues of long run survival and price. I build on their results by studying how changes in the distributio ...
... that of Cvitanić et al. (2011), who study an economy populated by N agents who differ in their risk aversion parameter, their rate of time preference, and their beliefs. However, they focus on issues of long run survival and price. I build on their results by studying how changes in the distributio ...
16: Asset Valuation: Derivative Investments
... A call option allows the buyer to purchase the common stock at the exercise price. If the underlying stock increases in value the call will also gain in market value, often at a higher percentage than the gain on the stock. The writer of a put option on GHP would also gain if the stock value increas ...
... A call option allows the buyer to purchase the common stock at the exercise price. If the underlying stock increases in value the call will also gain in market value, often at a higher percentage than the gain on the stock. The writer of a put option on GHP would also gain if the stock value increas ...
NSTAR Gas ROE Testimony
... constitutional right to profits such as are realized or anticipated in highly profitable enterprises or speculative ventures. The return should be reasonably sufficient to assure confidence in the financial soundness of the utility and should be adequate, under efficient and economical ...
... constitutional right to profits such as are realized or anticipated in highly profitable enterprises or speculative ventures. The return should be reasonably sufficient to assure confidence in the financial soundness of the utility and should be adequate, under efficient and economical ...
Project finance: Transactional evidence from Australia
... practices, a PPP is privately financed and requires the firm to carry responsibility for specific construction, lifecycle cost and operational risks. Risk is allocated to the party best able to manage it although this will generally be determined on the question of costs. As a general rule, the lowl ...
... practices, a PPP is privately financed and requires the firm to carry responsibility for specific construction, lifecycle cost and operational risks. Risk is allocated to the party best able to manage it although this will generally be determined on the question of costs. As a general rule, the lowl ...
AEGON withstands market turmoil with continued capital
... outlook on AEGON and its subsidiaries to stable from negative and affirmed the ‘AA-’ ratings on the core operating entities. At the same time, Moody’s affirmed the A3 senior debt of AEGON and upgraded the subordinated rating of AEGON to Baa1 from Baa2. Moody’s also upgraded the outlook on all rating ...
... outlook on AEGON and its subsidiaries to stable from negative and affirmed the ‘AA-’ ratings on the core operating entities. At the same time, Moody’s affirmed the A3 senior debt of AEGON and upgraded the subordinated rating of AEGON to Baa1 from Baa2. Moody’s also upgraded the outlook on all rating ...
Banking and Money Markets - NYU Stern School of Business
... costly, opportunity costs become explicit Venture capital, private equity funds attract investors by offering higher returns Market-based returns now expected by investors and lenders, and required of ...
... costly, opportunity costs become explicit Venture capital, private equity funds attract investors by offering higher returns Market-based returns now expected by investors and lenders, and required of ...
McGraw-Hill Global Education Intermediate Holdings
... As disclosed in Item 2.02 above, on May 15, 2014, the Company provided the quarterly supplemental financial information attached hereto as Exhibit 99.1 to its lenders and noteholders. The information set forth in Items 2.02 and 7.01 hereto and in the attached Exhibit 99.1 is deemed to be “furnished” ...
... As disclosed in Item 2.02 above, on May 15, 2014, the Company provided the quarterly supplemental financial information attached hereto as Exhibit 99.1 to its lenders and noteholders. The information set forth in Items 2.02 and 7.01 hereto and in the attached Exhibit 99.1 is deemed to be “furnished” ...
Financial Accounting: Assets Question 1 (30 marks) Multiple choice
... How would Genetic Research Inc. classify its portfolio of equity securities? 2. (6 marks) Prepare the journal entries Genetic research would make to record its 20X6 transactions in equity securities, including any year-end valuation adjustments. 3. (4 marks) Show how the investment portfolio would b ...
... How would Genetic Research Inc. classify its portfolio of equity securities? 2. (6 marks) Prepare the journal entries Genetic research would make to record its 20X6 transactions in equity securities, including any year-end valuation adjustments. 3. (4 marks) Show how the investment portfolio would b ...
2 January 2008
... investment company, today confirmed its participation in the public offer for all bearer shares of Absolute Private Equity, Ltd. (“Absolute”), alongside secondary funds managed by HarbourVest Partners, LLC. The preliminary final result, announced today, indicates that 98.68% of Absolute shareholders ...
... investment company, today confirmed its participation in the public offer for all bearer shares of Absolute Private Equity, Ltd. (“Absolute”), alongside secondary funds managed by HarbourVest Partners, LLC. The preliminary final result, announced today, indicates that 98.68% of Absolute shareholders ...
Financialization
Financialization is a term sometimes used in discussions of the financial capitalism that has developed over the decades between 1980 and 2010, in which financial leverage tended to override capital (equity), and financial markets tended to dominate over the traditional industrial economy and agricultural economics.Financialization describes an economic system or process that attempts to reduce all value that is exchanged (whether tangible or intangible, future or present promises, etc.) into a financial instrument. The intent of financialization is to be able to reduce any work product or service to an exchangeable financial instrument, like currency, and thus make it easier for people to trade these financial instruments.Workers, through a financial instrument such as a mortgage, may trade their promise of future work or wages for a home. The financialization of risk sharing is what makes possible all insurance. The financialization of a government's promises (e.g., US government bonds) is what makes possible all government deficit spending. Financialization also makes economic rents possible.