CITIGROUP`S 2007 ANNUAL REPORT ON FORM 10-K
... Markets & Banking business, which was significantly affected by write-downs related to direct subprime exposures, including CDOs, leveraged lending, and by significantly higher credit costs in our U.S. Consumer business. In 2007, Citigroup earned $3.6 billion from continuing operations on revenues o ...
... Markets & Banking business, which was significantly affected by write-downs related to direct subprime exposures, including CDOs, leveraged lending, and by significantly higher credit costs in our U.S. Consumer business. In 2007, Citigroup earned $3.6 billion from continuing operations on revenues o ...
Our responsible growth strategy is delivering strong, consistent, high
... peaked at 11.6 billion. We issued more than 7 billion common shares during the crisis. We funded acquisitions, strengthened our balance sheet to meet higher capital requirements, and repaid the government’s TARP investment within 13 months. We are working the share count down; at year end, we were a ...
... peaked at 11.6 billion. We issued more than 7 billion common shares during the crisis. We funded acquisitions, strengthened our balance sheet to meet higher capital requirements, and repaid the government’s TARP investment within 13 months. We are working the share count down; at year end, we were a ...
Questions Chapter 17 1) Which of the following statements are true
... [B] If the firm dramatically increases its depreciation expense it may have more of a need for an interest tax shield. [C] The present value of the interest tax shield is the amount of debt multiplied by the corporate tax rate. [D] The interest tax shield increases as a firm reduces its level of de ...
... [B] If the firm dramatically increases its depreciation expense it may have more of a need for an interest tax shield. [C] The present value of the interest tax shield is the amount of debt multiplied by the corporate tax rate. [D] The interest tax shield increases as a firm reduces its level of de ...
The value of creditor control in corporate bonds
... sample, though of greater magnitude in the period leading to default. The behavior of the CDS and bond liquidity measures is similar to that observed for the full default sample and, again, does not appear to explain the behavior of the premium. We also analyze covenant violations, using the events ...
... sample, though of greater magnitude in the period leading to default. The behavior of the CDS and bond liquidity measures is similar to that observed for the full default sample and, again, does not appear to explain the behavior of the premium. We also analyze covenant violations, using the events ...
Do Credit Derivatives Lower the Value of Creditor Control Rights
... making bankruptcy more difficult to avoid following covenant violation. All else equal, this process should make optimal covenants looser: for any given covenant tightness, the gain from preventing exploitative behavior has not changed, but the likelihood of costly bankruptcy has increased. However, ...
... making bankruptcy more difficult to avoid following covenant violation. All else equal, this process should make optimal covenants looser: for any given covenant tightness, the gain from preventing exploitative behavior has not changed, but the likelihood of costly bankruptcy has increased. However, ...
CREDIT RISK Credit risk modeling theory and applications
... On the other hand, some of the rating-based models that we will encounter are of practical use but they do not change our way of thinking about corporate debt or derivatives. The fact is that in real markets there are rating triggers and other ratingrelated covenants in debt contracts and other finan ...
... On the other hand, some of the rating-based models that we will encounter are of practical use but they do not change our way of thinking about corporate debt or derivatives. The fact is that in real markets there are rating triggers and other ratingrelated covenants in debt contracts and other finan ...
Corporate Diversification and the Cost of Capital
... (2009) recent work showing that debt tranches of airlines secured with more redeployable collateral have higher credit ratings and lower credit spreads also supports this notion. Our evidence also has implications for capital budgeting. In practice, managers tend to ignore the coinsurance benefit of ...
... (2009) recent work showing that debt tranches of airlines secured with more redeployable collateral have higher credit ratings and lower credit spreads also supports this notion. Our evidence also has implications for capital budgeting. In practice, managers tend to ignore the coinsurance benefit of ...
ESSAYS ON DETERMINANTS OF FINANCIAL BEHAVIOR OF
... This thesis investigates the role of individual-specific factors in individuals’ financial behavior. The main focus of the analysis is on two characteristics of individuals: risk attitude and gender. Although these two factors are believed to be important determinants of financial behavior, a review ...
... This thesis investigates the role of individual-specific factors in individuals’ financial behavior. The main focus of the analysis is on two characteristics of individuals: risk attitude and gender. Although these two factors are believed to be important determinants of financial behavior, a review ...
BIS 85th Annual Report - June 2015
... lhs, rhs left-hand scale, right-hand scale billion thousand million trillion thousand billion %pts percentage points ...
... lhs, rhs left-hand scale, right-hand scale billion thousand million trillion thousand billion %pts percentage points ...
AMC Networks Inc.
... of (i) transfer of control, (ii) variable consideration, (iii) allocation of selling price for multiple elements, (iv) intellectual property licenses, (v) time value of money and (vi) contract costs. The standard also expands the required disclosures related to revenue and cash flows from contracts ...
... of (i) transfer of control, (ii) variable consideration, (iii) allocation of selling price for multiple elements, (iv) intellectual property licenses, (v) time value of money and (vi) contract costs. The standard also expands the required disclosures related to revenue and cash flows from contracts ...
Payment, clearing and settlement systems in Brazil
... interbank clearing and settlement systems, regardless of volume, value and the type of transaction processed. In the case of securities clearing and settlement systems, responsibility for these activities is shared with the Securities and Exchange Commission (CVM).15 The resolution also sets forth c ...
... interbank clearing and settlement systems, regardless of volume, value and the type of transaction processed. In the case of securities clearing and settlement systems, responsibility for these activities is shared with the Securities and Exchange Commission (CVM).15 The resolution also sets forth c ...
2013 CFA Level 1 - Book 5 - Apache
... purpose vehicl in issue an asset-backed security'security, s transaction, state thethe types motivatiofoexternal n for a corporation toenhancements an asset-backed and describe credit for asset-backed securities. (page ...
... purpose vehicl in issue an asset-backed security'security, s transaction, state thethe types motivatiofoexternal n for a corporation toenhancements an asset-backed and describe credit for asset-backed securities. (page ...
standards for the use of eu securities settlement systems in escb
... Administration in 1996), have helped to raise standards in practice, including in the area of DvP, but they are not mandatory. In order to protect the ESCB as much as possible against those risks involved in the domestic as well as in the cross-border settlement of securities transactions, the EMI h ...
... Administration in 1996), have helped to raise standards in practice, including in the area of DvP, but they are not mandatory. In order to protect the ESCB as much as possible against those risks involved in the domestic as well as in the cross-border settlement of securities transactions, the EMI h ...
Cabot Corporation - Investor Relations Solutions
... forward-looking statements in other materials we release to the public and in oral statements made by authorized officers. Forward-looking statements are based on our current expectations, assumptions, estimates and projections about Cabot’s businesses and strategies, market trends and conditions, e ...
... forward-looking statements in other materials we release to the public and in oral statements made by authorized officers. Forward-looking statements are based on our current expectations, assumptions, estimates and projections about Cabot’s businesses and strategies, market trends and conditions, e ...
gender differences in bank loan access
... better description of the different conditions faced by male- and female-owned businesses in their quest for financing. One of the first papers on this theme (Hisrich and Brush, 1984) shows that U.S. female firms had more difficulties than male-owned ones during the start-up phase of the business. T ...
... better description of the different conditions faced by male- and female-owned businesses in their quest for financing. One of the first papers on this theme (Hisrich and Brush, 1984) shows that U.S. female firms had more difficulties than male-owned ones during the start-up phase of the business. T ...
Asset encumbrance, financial reform and the demand for collateral
... functioning and stability of the financial system. Against this backdrop, in May 2012, the Committee on the Global Financial System (CGFS) set up a working group, under the Chairmanship of Aerdt Houben of the Netherlands Bank, with the mandate to: (i) engage in a stocktaking exercise, including cons ...
... functioning and stability of the financial system. Against this backdrop, in May 2012, the Committee on the Global Financial System (CGFS) set up a working group, under the Chairmanship of Aerdt Houben of the Netherlands Bank, with the mandate to: (i) engage in a stocktaking exercise, including cons ...
words - Nasdaq`s INTEL Solutions
... including audits, program design, benchmark analysis, metering and partnerships provides government agencies, utilities and private firms with the ability to realize long-term savings. Economic and Financial Consulting Public agencies must raise the necessary funding to build, improve and maintain i ...
... including audits, program design, benchmark analysis, metering and partnerships provides government agencies, utilities and private firms with the ability to realize long-term savings. Economic and Financial Consulting Public agencies must raise the necessary funding to build, improve and maintain i ...
as Microsoft Word - Edinburgh Research Explorer
... impact macroeconomic variables would have on the prediction of LGD for two different types of retail loans. Based on the findings from previous work of ours and the aforementioned benchmarking papers, as well as the fact that we only have static information in the two datasets obtained from a UK len ...
... impact macroeconomic variables would have on the prediction of LGD for two different types of retail loans. Based on the findings from previous work of ours and the aforementioned benchmarking papers, as well as the fact that we only have static information in the two datasets obtained from a UK len ...
Banking on Bonds: The New Links Between States and Markets*
... For DB, the repo is an SFT (securities financing transaction). DB uses its portfolio of marketable securities to raise short-term market funding without giving up the returns on those assets. Because repos are structured legally as sales/repurchase (of collateral) agreements and in economic terms as ...
... For DB, the repo is an SFT (securities financing transaction). DB uses its portfolio of marketable securities to raise short-term market funding without giving up the returns on those assets. Because repos are structured legally as sales/repurchase (of collateral) agreements and in economic terms as ...
2014 annual report at the very heart of healthcare. medical
... As we expand our portfolio in 2015, we will continue to rely on our operating know-how and partner with leading hospital operators to generate strong returns for our sharesholders. Once again, we have proven the success of our business strategy, and we will continue to make bold strides to enhance M ...
... As we expand our portfolio in 2015, we will continue to rely on our operating know-how and partner with leading hospital operators to generate strong returns for our sharesholders. Once again, we have proven the success of our business strategy, and we will continue to make bold strides to enhance M ...
Global Fixed Income Portfolio
... Amortizing securities, such as mortgage-backed securities, have more reinvestment risk than non-amortizing securities, such as conventional bonds. There are two reasons for this: – The periodic cash flows paid by amortizing securities consist of both coupon interest and the repayment of a portion of ...
... Amortizing securities, such as mortgage-backed securities, have more reinvestment risk than non-amortizing securities, such as conventional bonds. There are two reasons for this: – The periodic cash flows paid by amortizing securities consist of both coupon interest and the repayment of a portion of ...