Financial Liberalization, Allocative Efficiency and Growth
... bailouts are systemic: they are granted only in the event of a systemic crisis, not if an idiosyncratic default occurs. Second, external finance is, by regulation, limited to standard debt contracts under which agents must repay in all states or else face bankruptcy. Because of contract enforceabili ...
... bailouts are systemic: they are granted only in the event of a systemic crisis, not if an idiosyncratic default occurs. Second, external finance is, by regulation, limited to standard debt contracts under which agents must repay in all states or else face bankruptcy. Because of contract enforceabili ...
MAKING SURE THE BAD GUYS PAY
... attaches [or is created] only if the parties agree to do so. a. Generally. A security interest is created and enforceable only when the agreement is said to have attached to the collateral. b. Creation of an enforceable security Interest. A security interest is enforceable against the debtor and thi ...
... attaches [or is created] only if the parties agree to do so. a. Generally. A security interest is created and enforceable only when the agreement is said to have attached to the collateral. b. Creation of an enforceable security Interest. A security interest is enforceable against the debtor and thi ...
Emerging Countries Sovereign Rating Adjustment using Market
... of political variables. However, the second school of thoughts claims that sovereign risk cannot be fully explained by country-specific fundamentals, especially for the risk in emerging market, as market opinions may influence the perception of a country credit quality up to a certain extent. This a ...
... of political variables. However, the second school of thoughts claims that sovereign risk cannot be fully explained by country-specific fundamentals, especially for the risk in emerging market, as market opinions may influence the perception of a country credit quality up to a certain extent. This a ...
Europe will work
... The situation in Europe’s major banks lies at the heart of much of the current crisis in the euro area, and we could never have unravelled this area by ourselves. Jon Peace, Nomura’s European banks’ analyst, provided a cogent analysis and clear analytical presentation of the major banking issues, an ...
... The situation in Europe’s major banks lies at the heart of much of the current crisis in the euro area, and we could never have unravelled this area by ourselves. Jon Peace, Nomura’s European banks’ analyst, provided a cogent analysis and clear analytical presentation of the major banking issues, an ...
Gambling with Other People`s Money
... almost always rescued their bondholders and creditors. These policies have created incentives both to borrow and to lend recklessly. When large financial institutions get in trouble, equity holders are typically wiped out or made to suffer significant losses when share values plummet. The punishment ...
... almost always rescued their bondholders and creditors. These policies have created incentives both to borrow and to lend recklessly. When large financial institutions get in trouble, equity holders are typically wiped out or made to suffer significant losses when share values plummet. The punishment ...
An Empirical Study of Taiwan Bond Market Based on Nonlinear
... between the long-term and short-term rates of interest. That is to say, the premium on the yield rates in each period is not featured by unit-root under the circumstances of long-term balance. In most studies on the unit-root test and co-integration, it is hypothesized as a linear adjustment, as in ...
... between the long-term and short-term rates of interest. That is to say, the premium on the yield rates in each period is not featured by unit-root under the circumstances of long-term balance. In most studies on the unit-root test and co-integration, it is hypothesized as a linear adjustment, as in ...
Global Risk Aversion, Contagion or Fundamentals?
... Other government bonds have followed a similar trajectory with volatility being higher among higher-debt, lower-rated sovereigns. Likewise, the credit default swap, in other words the premium investors are willing to pay to insure the same Greek bond against a credit event, during the same period ha ...
... Other government bonds have followed a similar trajectory with volatility being higher among higher-debt, lower-rated sovereigns. Likewise, the credit default swap, in other words the premium investors are willing to pay to insure the same Greek bond against a credit event, during the same period ha ...
2013 IMF Article IV Staff Report for South Africa
... Demand-Management Policies can only play a limited role in supporting growth. Automatic stabilizers should be allowed to play this year if growth is lower than assumed in the budget, but should growth continue to disappoint, offsetting measures will be required. Greater clarity on a medium-term debt ...
... Demand-Management Policies can only play a limited role in supporting growth. Automatic stabilizers should be allowed to play this year if growth is lower than assumed in the budget, but should growth continue to disappoint, offsetting measures will be required. Greater clarity on a medium-term debt ...
Exchange Rate Risk and Interest Rate: A Case
... specification. The results for the fullsample are reported inTable 1. We observed a positive but insignificant coefficient for the expected exchange rate depreciation inthe interest rate equation.6 On the other hand, when we include exchange rate risk as an additional explanatory variable for the in ...
... specification. The results for the fullsample are reported inTable 1. We observed a positive but insignificant coefficient for the expected exchange rate depreciation inthe interest rate equation.6 On the other hand, when we include exchange rate risk as an additional explanatory variable for the in ...
Sundiro Holding Co., Ltd. The Third Quarter of 2012
... Net cash received from disposal of fixed assets, intangible assets and other long-term assets Net cash received from disposal of subsidiaries and other business units Other cash received from investing activities Sub-total of cash inflows from investing activities Cash paid for acquisition of fixed ...
... Net cash received from disposal of fixed assets, intangible assets and other long-term assets Net cash received from disposal of subsidiaries and other business units Other cash received from investing activities Sub-total of cash inflows from investing activities Cash paid for acquisition of fixed ...
International Capital Flows and House Prices: Theory and Evidence*
... studies a two-sector representative-agent model of international trade in which lower collateral requirements facilitate access to external funding and drive up house prices. Others have argued that preference shocks and a desire for smooth (across goods) consumption can generate a correlation betwe ...
... studies a two-sector representative-agent model of international trade in which lower collateral requirements facilitate access to external funding and drive up house prices. Others have argued that preference shocks and a desire for smooth (across goods) consumption can generate a correlation betwe ...
Nordic High Yield Update
... priorities and an organic replacement ratio of 114% is negative for the oil services industry. Despite deflation in service prices and internal cost measures within the E&P companies, we have no doubt that activity has declined and will continue to decline next year. So far, around 30 oil and gas pr ...
... priorities and an organic replacement ratio of 114% is negative for the oil services industry. Despite deflation in service prices and internal cost measures within the E&P companies, we have no doubt that activity has declined and will continue to decline next year. So far, around 30 oil and gas pr ...
Problems and Countermeasures in Constructing Credit Guarantee
... investment to make up for reduction as a result of compensation in guarantee funds. However, China's SME credit security institutions don’t have the practice that extracting the risk reserve from profits and even less compensation government funded. The funding source of policy security agencies is ...
... investment to make up for reduction as a result of compensation in guarantee funds. However, China's SME credit security institutions don’t have the practice that extracting the risk reserve from profits and even less compensation government funded. The funding source of policy security agencies is ...
Retained Interests in Securitisations and - ECB
... enhancements and guarantees (also known as retained interests) can be generated by the cash flows from the underlying assets (excess spread), by the structure of the transaction (subordinated securities), or can be provided by the originating bank (liquidity provisions, seller’s interest, and stand- ...
... enhancements and guarantees (also known as retained interests) can be generated by the cash flows from the underlying assets (excess spread), by the structure of the transaction (subordinated securities), or can be provided by the originating bank (liquidity provisions, seller’s interest, and stand- ...
Frequently Asked Questions
... How much will my monthly payment be? Suppose you borrow $600,000 with one-third of the value as a first mortgage ($200,000) and two-thirds as a second mortgage ($400,000). The table below indicates the total monthly payment requirements at various interest rates. Market interest rates ...
... How much will my monthly payment be? Suppose you borrow $600,000 with one-third of the value as a first mortgage ($200,000) and two-thirds as a second mortgage ($400,000). The table below indicates the total monthly payment requirements at various interest rates. Market interest rates ...
american capital senior floating, ltd. - corporate
... Adjustments to reconcile net increase in net assets resulting from operations: Net realized loss (gain) on investments Net unrealized appreciation on investments Accretion of CLO interest income Net amortization of discount on loans Amortization of deferred financing costs Purchase of investments Pr ...
... Adjustments to reconcile net increase in net assets resulting from operations: Net realized loss (gain) on investments Net unrealized appreciation on investments Accretion of CLO interest income Net amortization of discount on loans Amortization of deferred financing costs Purchase of investments Pr ...
Investor Report RBS Citizens Financial Group, Inc. March 31, 2013
... The information included in this report contains certain forward-looking statements. These forward-looking statements may relate to the Company’s financial condition, results of operations, plans, objectives, future performance and business, including, but not limited to, statements with respect to ...
... The information included in this report contains certain forward-looking statements. These forward-looking statements may relate to the Company’s financial condition, results of operations, plans, objectives, future performance and business, including, but not limited to, statements with respect to ...
85th Annual Report - Bank for International Settlements
... 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 ...
The Effect of Debt on the Cost of Equity in a Regulatory Setting
... 5. Failure to recognize and adjust for differences in the financial risk of sample companies and the regulated entity can result in material errors in cost of equity estimation. Ignoring such differences results in a disconnect between the cost of capital information provided by the sample and the a ...
... 5. Failure to recognize and adjust for differences in the financial risk of sample companies and the regulated entity can result in material errors in cost of equity estimation. Ignoring such differences results in a disconnect between the cost of capital information provided by the sample and the a ...
De Nederlandsche Bank Monetary and Economic Policy
... Hungary and Poland and use a static model for 1992. Nivorozhkin (2003) uses a dynamic model, but only for the Czech Republic and Bulgaria during 1993-1997. In addition, Booth et al. (2001), using a static model, study firms’ capital structure choice in ten non-transition developing countries. ...
... Hungary and Poland and use a static model for 1992. Nivorozhkin (2003) uses a dynamic model, but only for the Czech Republic and Bulgaria during 1993-1997. In addition, Booth et al. (2001), using a static model, study firms’ capital structure choice in ten non-transition developing countries. ...