Quarterly Review and Outlook, Second Quarter 2012
... lack of liquidity or some other narrower precipitating factors. For example, in 1907 the third largest U.S. bank, Knickerbocker National Bank, failed, causing a severe lack of liquidity. This event is credited with leading to the establishment of the Federal Reserve, but the underlying cause of the ...
... lack of liquidity or some other narrower precipitating factors. For example, in 1907 the third largest U.S. bank, Knickerbocker National Bank, failed, causing a severe lack of liquidity. This event is credited with leading to the establishment of the Federal Reserve, but the underlying cause of the ...
The State of Sustainable Finance in the United States
... US investors can also help improve governance in general by doing three things as follows: a) improve their own disclosure and governance, while also encouraging more disclosure and transparency in markets, b) scale market innovation and the evolution of new financial innovations that can solve soci ...
... US investors can also help improve governance in general by doing three things as follows: a) improve their own disclosure and governance, while also encouraging more disclosure and transparency in markets, b) scale market innovation and the evolution of new financial innovations that can solve soci ...
The future of international capital flows
... The experience of the past decade has demonstrated the challenges that international capital flows can pose for financial stability. The build-up of global imbalances (large net capital flows) was one of the preconditions for the recent financial crisis. Increased interconnectedness between countrie ...
... The experience of the past decade has demonstrated the challenges that international capital flows can pose for financial stability. The build-up of global imbalances (large net capital flows) was one of the preconditions for the recent financial crisis. Increased interconnectedness between countrie ...
Chairman`s Letter 2005 - Plymouth Rock Assurance
... England underwriting companies earned a net income of $20.4 million, just over 6% on their gross premiums. While I’d like to see the ratio a little higher, 7.5% of direct premiums to be specific, this is a good showing. The three insurance management companies, which are only expected to earn about ...
... England underwriting companies earned a net income of $20.4 million, just over 6% on their gross premiums. While I’d like to see the ratio a little higher, 7.5% of direct premiums to be specific, this is a good showing. The three insurance management companies, which are only expected to earn about ...
55-Internal Audit for Treasury Market Risk Management
... • Frequency of interest payments. • Information about the issuer and the credit rating. • Terms of issue such as use of issue proceeds, monitoring agency, formation of trustees, secured or unsecured nature of bonds, assets underlying the security and credit-worthiness of the organisation. • Comparis ...
... • Frequency of interest payments. • Information about the issuer and the credit rating. • Terms of issue such as use of issue proceeds, monitoring agency, formation of trustees, secured or unsecured nature of bonds, assets underlying the security and credit-worthiness of the organisation. • Comparis ...
RIT Consolidated Financial Statements - June 30, 2011 and 2010
... Cash and cash equivalents are carried at fair value and include cash on deposit with financial institutions and money market funds with maturities of three months or less when purchased. Cash and cash equivalents on deposit with bond trustees include cash, money market funds and U.S. government secu ...
... Cash and cash equivalents are carried at fair value and include cash on deposit with financial institutions and money market funds with maturities of three months or less when purchased. Cash and cash equivalents on deposit with bond trustees include cash, money market funds and U.S. government secu ...
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... economy that was affected by a bubble and spread the effects to other parts of the economy. Amplification mechanisms that arise during financial crises can either be direct (caused by direct contractual links) or indirect (caused by spillovers or externalities that are due to common exposures or th ...
... economy that was affected by a bubble and spread the effects to other parts of the economy. Amplification mechanisms that arise during financial crises can either be direct (caused by direct contractual links) or indirect (caused by spillovers or externalities that are due to common exposures or th ...
FCA staff - The Farm Credit Council
... a security under Federal securities law The institution cannot purchase the bond unless it can be and is recorded as an investment under GAAP Bond offering must be independent of any institution that may purchase the bond and must also be offered to accredited investors in the offer’s local area ...
... a security under Federal securities law The institution cannot purchase the bond unless it can be and is recorded as an investment under GAAP Bond offering must be independent of any institution that may purchase the bond and must also be offered to accredited investors in the offer’s local area ...
Key facts on central bank balance sheets in Asia and the Pacific
... accommodating secular increases in currency demand fuelled by rapid economic growth. But the massive expansion goes well beyond currency demand. It is also important to note that the size of central bank balance sheets in Asia today as a percentage of GDP is far greater than in the advanced economie ...
... accommodating secular increases in currency demand fuelled by rapid economic growth. But the massive expansion goes well beyond currency demand. It is also important to note that the size of central bank balance sheets in Asia today as a percentage of GDP is far greater than in the advanced economie ...
Risk, Return and Capital Budgeting
... asset and equity β’s and thus it is more difficult to use comparable firms’ data to determine the overall cost of capital for a specific project. The reason is that debt interest payments reduce taxes; thus, holding fixed the risk of the before-tax cash flows, more debt makes total after-tax cash fl ...
... asset and equity β’s and thus it is more difficult to use comparable firms’ data to determine the overall cost of capital for a specific project. The reason is that debt interest payments reduce taxes; thus, holding fixed the risk of the before-tax cash flows, more debt makes total after-tax cash fl ...
Monetary transmission under competing corporate finance regimes
... (2010) who model Euro Area financial sector and corporate financing in this way. To sum up, firms like market-based financing because it is more flexible and, conditional on positive market outlook, credit is relatively cheaper. Conversely, as in Bolton and Freixas (2006), bank credit is attractive ...
... (2010) who model Euro Area financial sector and corporate financing in this way. To sum up, firms like market-based financing because it is more flexible and, conditional on positive market outlook, credit is relatively cheaper. Conversely, as in Bolton and Freixas (2006), bank credit is attractive ...
Impact of Regulations on Bank Lending
... cut in lending volumes to high-risk sectors, such as commercial real estate and corporate lending. Impact in the Long Term: Gradually, as banks build up capital reserves in accordance with regulatory requirements and reduce high-risk-weighted assets, they would see a lowering of their cost of capita ...
... cut in lending volumes to high-risk sectors, such as commercial real estate and corporate lending. Impact in the Long Term: Gradually, as banks build up capital reserves in accordance with regulatory requirements and reduce high-risk-weighted assets, they would see a lowering of their cost of capita ...
Monthly Economic and Financial Developments March 2009
... assistance (net lending) to public enterprises expanded by 36.8% to $41.8 million. 2. International Developments The IMF, in its April edition of the World Economic Outlook, projected that global GDP would contract by an estimated 1.3% in 2009, the worst economic outcome in over 50 years, with only ...
... assistance (net lending) to public enterprises expanded by 36.8% to $41.8 million. 2. International Developments The IMF, in its April edition of the World Economic Outlook, projected that global GDP would contract by an estimated 1.3% in 2009, the worst economic outcome in over 50 years, with only ...
Competitive aspects of foreign markets appear attractive
... because you have seen a lot of that happen already in 2014. It’s interesting to look even a little bit deeper. China is the biggest emerging market. They have two stock exchanges in China. One is the Shenzhen Stock Market and the other is the Shanghai Stock Market. The Shanghai Stock Market was one ...
... because you have seen a lot of that happen already in 2014. It’s interesting to look even a little bit deeper. China is the biggest emerging market. They have two stock exchanges in China. One is the Shenzhen Stock Market and the other is the Shanghai Stock Market. The Shanghai Stock Market was one ...
Winners and Losers from Monetary Policy
... gain from higher inflation due to their substantial mortgage debt. But young, poor households also gain through what they owe in consumer credit. These trends have changed over time. The household sector as a whole was the U.S. economy’s major class of lenders before the 1980s, but that changed with ...
... gain from higher inflation due to their substantial mortgage debt. But young, poor households also gain through what they owe in consumer credit. These trends have changed over time. The household sector as a whole was the U.S. economy’s major class of lenders before the 1980s, but that changed with ...
Egypt within the Framework of the Global Financial Crisis: Impact
... of the international economy. Decline in Foreign Direct Investment. This strong economic growth has enabled Egypt to be an attractive f d i destination, rising by 19.4 percent in f y 2007/2008, reaching u s d 13.2 billion. But, in the shadow of g f c, the f d i has already dropped to u s d 9.56 bill ...
... of the international economy. Decline in Foreign Direct Investment. This strong economic growth has enabled Egypt to be an attractive f d i destination, rising by 19.4 percent in f y 2007/2008, reaching u s d 13.2 billion. But, in the shadow of g f c, the f d i has already dropped to u s d 9.56 bill ...
Investment banking
... own risk and return profile, based largely on the order in which investors get repaid on the loan portfolio.(5)(6) Investment banks also act as underwriter, whereby they undertake the book-building process. Finally, they can help the SPV to hedge its risks using financial instruments such as derivat ...
... own risk and return profile, based largely on the order in which investors get repaid on the loan portfolio.(5)(6) Investment banks also act as underwriter, whereby they undertake the book-building process. Finally, they can help the SPV to hedge its risks using financial instruments such as derivat ...
Chapter One
... Students can readily grasp that there is very little profit risk from an interest rate change on the $34 of NEA financed by equity. Likewise there is little profit risk from the $206 FRAs financed by FRLs because the cash inflows and outflows on these accounts do not change over the given maturity b ...
... Students can readily grasp that there is very little profit risk from an interest rate change on the $34 of NEA financed by equity. Likewise there is little profit risk from the $206 FRAs financed by FRLs because the cash inflows and outflows on these accounts do not change over the given maturity b ...
Some international trends in the regulation of mortgage markets
... background and socioeconomic policies, some leeway must be provided to national supervisors in order to adapt the new regulation to their own needs. But this should not mask the fact that maintaining a competitive environment and a Euro-wide level-playing field is probably the best contribution regu ...
... background and socioeconomic policies, some leeway must be provided to national supervisors in order to adapt the new regulation to their own needs. But this should not mask the fact that maintaining a competitive environment and a Euro-wide level-playing field is probably the best contribution regu ...
Liquidity Crunch – The Survival Strategies Presented by Sanderson
... 3. Experience with Multi-Currency and Liquidity The adoption of the MultipleCurrency System in January 2009 has been accompanied by persistent liquidity shortages and these compounded the challenges in the banking sector to a large extent. This adverse development has had debilitating effects on Go ...
... 3. Experience with Multi-Currency and Liquidity The adoption of the MultipleCurrency System in January 2009 has been accompanied by persistent liquidity shortages and these compounded the challenges in the banking sector to a large extent. This adverse development has had debilitating effects on Go ...
Central and East European Countries After Entering the
... possibilities can have different impacts on the size, composition and division of GDP in CEECs. The ECB can have different preferences from the central banks in the CEECs, therefore the loss of autonomous monetary policy after joining the Eurozone can bring some costs from the point of view of the C ...
... possibilities can have different impacts on the size, composition and division of GDP in CEECs. The ECB can have different preferences from the central banks in the CEECs, therefore the loss of autonomous monetary policy after joining the Eurozone can bring some costs from the point of view of the C ...
Banking Policy Review: Did Dodd–Frank End `Too Big to Fail`?
... and investment banks with bond funding costs for 14 other nonfinancial industries. 9 They examine three periods: before (2004 Q1–2008 Q2), during (2008 Q3–2009 Q2), and after (2009 Q3–2013 Q2) the financial crisis. They find that there is a size-related funding advantage in all industries, including ...
... and investment banks with bond funding costs for 14 other nonfinancial industries. 9 They examine three periods: before (2004 Q1–2008 Q2), during (2008 Q3–2009 Q2), and after (2009 Q3–2013 Q2) the financial crisis. They find that there is a size-related funding advantage in all industries, including ...
The Effects on the Aggregate Demand and Aggregate Supply during
... in 1928? The main reason was the concern of the Fed about rumors that emerged on Wall Strees. The government had made a sharp distinction between "productive" (good) and "speculative" (bad) uses of credit, and they were concerned that lending to brokers and investors are fueling speculative wave of ...
... in 1928? The main reason was the concern of the Fed about rumors that emerged on Wall Strees. The government had made a sharp distinction between "productive" (good) and "speculative" (bad) uses of credit, and they were concerned that lending to brokers and investors are fueling speculative wave of ...
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.