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... Most popular credit risk models based on the structure model in commercial lending, such as KMV’s1 expected default frequency model (EDF), pre-require information on macroeconomic factors and long-time loss data for computing asset correlation and default rates. However, the prerequisites are hard ...
... Most popular credit risk models based on the structure model in commercial lending, such as KMV’s1 expected default frequency model (EDF), pre-require information on macroeconomic factors and long-time loss data for computing asset correlation and default rates. However, the prerequisites are hard ...
Overborrowing, Financial Crises and ‘Macro-prudential’ Policy ∗ Javier Bianchi
... This paper contributes to the recent literature in the intersection of Macroeconomics and Finance by developing a quantitative framework suitable for the normative analysis of overborrowing and macro-prudential policy. This task is challenging, because an accurate characterization of the macro impli ...
... This paper contributes to the recent literature in the intersection of Macroeconomics and Finance by developing a quantitative framework suitable for the normative analysis of overborrowing and macro-prudential policy. This task is challenging, because an accurate characterization of the macro impli ...
Read full press release here
... nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-l ...
... nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-l ...
Do Banks Really Care? Social Norms in Bank Lending This version
... bank characteristics in the following manner. We start by controlling for firm credit ratings. Credit ratings are widely thought to be the main driving force in determining loan terms. We use the Moody’s senior debt rating, available in Dealscan as the main rating. In addition to ratings, we control ...
... bank characteristics in the following manner. We start by controlling for firm credit ratings. Credit ratings are widely thought to be the main driving force in determining loan terms. We use the Moody’s senior debt rating, available in Dealscan as the main rating. In addition to ratings, we control ...
05RISKS FROM LOW INTEREST RATES – OPPORTUNITIES FROM
... barriers to corporate financing and thereby boost investment and economic growth. The most important potential barriers to corporate financing are an excessive reliance on bank-based financing, unsustainable financial market integration, excessive debt levels of non-financial corporations and a low ...
... barriers to corporate financing and thereby boost investment and economic growth. The most important potential barriers to corporate financing are an excessive reliance on bank-based financing, unsustainable financial market integration, excessive debt levels of non-financial corporations and a low ...
2010 Financial Report
... To the Board of Governors Wayne State University We have audited the accompanying balance sheet of Wayne State University as of September 30, 2010 and 2009 and the related statements of revenues, expenses, and changes in net assets and cash flows for the years then ended. These financial statements ...
... To the Board of Governors Wayne State University We have audited the accompanying balance sheet of Wayne State University as of September 30, 2010 and 2009 and the related statements of revenues, expenses, and changes in net assets and cash flows for the years then ended. These financial statements ...
Why Does Brazil`s Banking Sector Need Public Banks?
... Recession and the collapse of the shadow banking system. This raises the question of whether it is possible that the alternative approaches followed by some developing countries might provide an indication of more stable regulatory approaches generally. There has been much discussion about how to su ...
... Recession and the collapse of the shadow banking system. This raises the question of whether it is possible that the alternative approaches followed by some developing countries might provide an indication of more stable regulatory approaches generally. There has been much discussion about how to su ...
Filling the void left by bank closures and fighting the scourge of high
... across Northern Ireland by offering current accounts with card to access money. In Great Britain, the government has provided a fund to help offset both the high start-up costs of operating current accounts and the on-going costs of maintaining them. A reason given for NI being excluded from these f ...
... across Northern Ireland by offering current accounts with card to access money. In Great Britain, the government has provided a fund to help offset both the high start-up costs of operating current accounts and the on-going costs of maintaining them. A reason given for NI being excluded from these f ...
the design of successful rural financial intermediaries: evidence from
... All the steps necessary to complete a financial transaction are undertaken locally. ...
... All the steps necessary to complete a financial transaction are undertaken locally. ...
St. Kitts and Nevis
... Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headqua ...
... Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headqua ...
Credit Rating and Short-Term Debt Financing: Empirical
... corporate finance. The literature on trade credit falls into two main streams. One stream of literature focuses on the “business” motivations for trade credit, seeing it as a way to minimize transactions cost (Ferris, 1981), to allow firms to practice price discrimination (Brennan, Maksimovic and Ze ...
... corporate finance. The literature on trade credit falls into two main streams. One stream of literature focuses on the “business” motivations for trade credit, seeing it as a way to minimize transactions cost (Ferris, 1981), to allow firms to practice price discrimination (Brennan, Maksimovic and Ze ...
The Corporate Governance of Banks
... As with large equity holders, concentrated debt can ameliorate some of the information and contract enforcement problems with diffuse debt. Because of their large investment, large debt holders are more likely to have the ability and the incentives to exert control over the firm by monitoring manage ...
... As with large equity holders, concentrated debt can ameliorate some of the information and contract enforcement problems with diffuse debt. Because of their large investment, large debt holders are more likely to have the ability and the incentives to exert control over the firm by monitoring manage ...
DP2003/01 Financial deregulation and household indebtedness Leslie Hull
... additional consumption caused by the increase in wealth over the rest of their lifetime. There are problems with the life-cycle models ...
... additional consumption caused by the increase in wealth over the rest of their lifetime. There are problems with the life-cycle models ...
Social Security and Unsecured Debt
... the optimal allocation across risky and riskless assets without actually investing any of their social security wealth in risky assets, a fact we illustrate in Section 4. Thus, exemptions allow us to address one criticism of the current social security system without the costly and politically prob ...
... the optimal allocation across risky and riskless assets without actually investing any of their social security wealth in risky assets, a fact we illustrate in Section 4. Thus, exemptions allow us to address one criticism of the current social security system without the costly and politically prob ...
Vantage Point - Voya Investment Management
... importer of oil, China also stands to benefit from cheaper oil; Bank of America Merrill Lynch estimates that every 10% fall in the price of oil boosts China GDP by 15 basis points. This potential boost comes at an opportune time for the country, which continues to grapple with what its leader has des ...
... importer of oil, China also stands to benefit from cheaper oil; Bank of America Merrill Lynch estimates that every 10% fall in the price of oil boosts China GDP by 15 basis points. This potential boost comes at an opportune time for the country, which continues to grapple with what its leader has des ...
Got rejected? Real effects of not getting a loan
... subsidiaries of larger firms are excluded from the sample because the existence of a parent company is likely to impair the effect of any credit supply shock. Second, I exclude firms with total assets of less than EUR 350,000 as these are only subject to very rudimentary disclosure requirements (thi ...
... subsidiaries of larger firms are excluded from the sample because the existence of a parent company is likely to impair the effect of any credit supply shock. Second, I exclude firms with total assets of less than EUR 350,000 as these are only subject to very rudimentary disclosure requirements (thi ...
1 - Hans-Böckler
... means of payment. These other financial assets include bonds, loans, derivatives or insurance policies. What financial asset does however constitute a means of payment is context-specific. For example, non-banks normally accept deposits at commercial banks as means of payment; however commercial ban ...
... means of payment. These other financial assets include bonds, loans, derivatives or insurance policies. What financial asset does however constitute a means of payment is context-specific. For example, non-banks normally accept deposits at commercial banks as means of payment; however commercial ban ...
Enforcement Actions and Bank Loan Contracting
... interest rates than loans initiated before enforcement actions. The decreases in interest rates are significant for enforcement actions issued against both banks and management officials and are slightly more pronounced for severe enforcement actions. The results also suggest that other, non-price l ...
... interest rates than loans initiated before enforcement actions. The decreases in interest rates are significant for enforcement actions issued against both banks and management officials and are slightly more pronounced for severe enforcement actions. The results also suggest that other, non-price l ...
What can a lender learn from a loan application?
... payments. In 1992, the borrowers had obtained a home loan for about $53,000 to build a house. The borrowers had subsequently found it necessary to take out a series of loans, each one refinancing the last and for a larger amount, in order to meet interest and expenses. The case concerned a loan ent ...
... payments. In 1992, the borrowers had obtained a home loan for about $53,000 to build a house. The borrowers had subsequently found it necessary to take out a series of loans, each one refinancing the last and for a larger amount, in order to meet interest and expenses. The case concerned a loan ent ...
West Bank and Gaza
... fiscal, and financial areas, as well as technical assistance, with a focus on tax administration, public expenditure management, banking supervision and regulation, and statistics. See www.imf.org/wbg for recent reports. ...
... fiscal, and financial areas, as well as technical assistance, with a focus on tax administration, public expenditure management, banking supervision and regulation, and statistics. See www.imf.org/wbg for recent reports. ...
Choice of Discount Rate - Mit - Massachusetts Institute of Technology
... Estimated debt and equity returns estimated from current MARKET prices of securities (this is major difference from previous case) – A $1000 bond paying 10% on face value may, for example, be selling at $1200 so that its actual return ...
... Estimated debt and equity returns estimated from current MARKET prices of securities (this is major difference from previous case) – A $1000 bond paying 10% on face value may, for example, be selling at $1200 so that its actual return ...
How fund managers can make money from lending
... as well as loyal funds, notably for commercial real estate projects. Some direct lending managers have already acquired equity stakes in crowd funding platforms. ...
... as well as loyal funds, notably for commercial real estate projects. Some direct lending managers have already acquired equity stakes in crowd funding platforms. ...
The State of Small Business Lending: Credit Access during the
... business lending. Banks continue to raise capital levels to appease risk averse bank examiners and other regulators post‐crisis, undermining their ability to underwrite small business loans, which are inherently riskier than consumer and large business lending. Fe ...
... business lending. Banks continue to raise capital levels to appease risk averse bank examiners and other regulators post‐crisis, undermining their ability to underwrite small business loans, which are inherently riskier than consumer and large business lending. Fe ...