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public debt
public debt

... any income. It does not add to the productive assets of the country. For Eg. debts utilised for transfer payments in form of subsidies, old age pension, special incentives to weaker sections etc. Unproductive public loans are a net burden on the community. The government will have to resort to addit ...
C01_Reilly1ce
C01_Reilly1ce

... spending it), individuals can tradeoff present consumption for a larger future consumption. ...
US Money Fund Exposure to European Banks
US Money Fund Exposure to European Banks

... and no individual, or group of individuals, is solely responsible for a rating. The rating does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. Fitch is not engaged in the offer or sale of any security. All Fitch reports have shared autho ...
Ind AS 113- Fair Value Measurement
Ind AS 113- Fair Value Measurement

U.S. Annuity Market Dynamics and Regulatory Requirements
U.S. Annuity Market Dynamics and Regulatory Requirements

... contracts have annual household income of less than $100,000; that includes 64% who earn less than $75,000.  Nine in 10 Baby Boomers who own annuities believe that they are doing a good job preparing for retirement. ...
Green Bonds | UNDP
Green Bonds | UNDP

... that is generated by fees, taxes, etc. The proceeds can be invested in related or unrelated green project(s).  Example: The  Iowa Finance Authority  issued US$321.5 million AAA rated revenue bonds with 1­ to 2­year tenors, 1­5% coupon that were backed by water­related fees and taxes collected by the ...
Non-Owner-Occupancy Misrepresentation and Loan Default
Non-Owner-Occupancy Misrepresentation and Loan Default

Answers to Before You Go On Questions
Answers to Before You Go On Questions

... A problem that arises quite often in capital budgeting involves choosing between two mutually exclusive investments where the investments have different lives. o In a situation like this, we can effectively make the lives of the mowers the same by assuming repeated investments over some identical pe ...
Havells India - ICICI Direct
Havells India - ICICI Direct

... shift in focus towards branded category products would help grow consumer durable segment at CAGR ~24% in FY16-18E. Slight recovery in demand from industrial segment to drive growth HIL’s switchgear segment recorded revenue CAGR of ~12% in FY11-16 largely due to new product launch, a gradual shift i ...
Capital Market Report - World bank documents
Capital Market Report - World bank documents

... international investor community to find what instrument risks and protections are of priority from a risk/return and regulatory perspective. The small and medium enterprise (SME) financing market, in contrast, requires significant changes. To a large extent, the current system works due to legacy l ...
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Temi di Discussione

Impairment Of Debt and Write Off Policy – 2016/2017
Impairment Of Debt and Write Off Policy – 2016/2017

... submitted to Council to approve the write-off of the identified irrecoverable debts. 6. WRITING OFF OF IRRECOVERABLE DEBTS Where debts are identified as being irrecoverable, the process of writing off will be treated as follows: 6.1 Amounts equal to or lower than amounts delegated to the Chief Finan ...
annual report
annual report

... severe. Therefore, we will increase sales and expand market share by accurately identifying the diverse needs of large and small medical facilities in developed and newly emerging economies and then expand our product line by introducing new products and applications targeted to those needs, such as ...
The Case for Investing in High Yield Municipal
The Case for Investing in High Yield Municipal

... regarding congressional support dominates investment theses for holding the bonds. Another headline grabbing entity is the city of Chicago, particularly Chicago Public Schools (CPS). Chicago has different challenges, which include underfunded pensions, but similar to Puerto Rico in that these holdin ...
Credit Suisse Mid-Year Survey of Hedge Fund Investor Sentiment
Credit Suisse Mid-Year Survey of Hedge Fund Investor Sentiment

... the industry as a whole – over 60% of those who redeemed were driven by specific manager underperformance or an individual fund’s strategy drift. Of those investors who did redeem from hedge funds during the first half of the year, 82% expect to recycle that capital to other hedge fund managers rath ...
The Evolution of Diversification
The Evolution of Diversification

... High-yield bonds provide investors with the opportunity for high absolute returns and low correlation with other asset classes over the long term. The high-yield bond market has become an increasingly popular source of financing for many reputable companies and represents a significant portion of th ...
The Case for a Concentrated Portfolio
The Case for a Concentrated Portfolio

... Furthermore, even a portfolio of well-diversified assets cannot escape all risk. It will still be exposed to systematic risk, which is the uncertainty that faces the market as a whole. Also known as “undiversifiable risk,” “volatility,” or “market risk,” systematic risk cannot be diversified away. H ...
ICG: The Rise of Private Debt as an Institutional Asset Class
ICG: The Rise of Private Debt as an Institutional Asset Class

FINRA Rule 5270 FAQs: Front Running of Block Transactions FAQs
FINRA Rule 5270 FAQs: Front Running of Block Transactions FAQs

act government borrowings and gross debt
act government borrowings and gross debt

... During 2004-05 the Territory established a new $1 billion (multi-note) Domestic Debt Issuance Program, replacing the former $500m domestic commercial paper program and $500m domestic debt issuance program. The new program reflects current financial market standards and provides the ability for the T ...
A big leap forward
A big leap forward

... the Asia-Pacific region and major international financial centers. These include the Philippines, Brunei Darussalam, Cambodia, Vietnam, Laos, Thailand, ...
Aareal Bank Group – Interim Report Q1/2015
Aareal Bank Group – Interim Report Q1/2015

... The market environment for Aareal Bank Group remained challenging during the first three months of the 2015 financial year. At the start of the year, the situation on the international financial markets remained under significant influence from the decisions of the major central banks. For instance, ...
Chapter 15: Intercorporate Investments
Chapter 15: Intercorporate Investments

... If the investment was held-to-maturity, the reported amount at amortized cost on the balance sheet would be £293,865. If it was classified as either held for trading, available-for-sale, or designated at fair value, it would be reported at its fair value at 31 December 2009. Copyright © 2013 CFA Ins ...
Deferred Fixed Annuities
Deferred Fixed Annuities

Personal Bankruptcy and Credit Market Competition
Personal Bankruptcy and Credit Market Competition

... date and the the level of credit card lending productivity at the beginning of the sample. Finally, we control for important factors that lead households to find bankruptcy attractive, i.e. bankruptcy “demand” factors, including unemployment rates, income growth and homestead exemptions. Our result ...
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Securitization

Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs). Investors are repaid from the principal and interest cash flows collected from the underlying debt and redistributed through the capital structure of the new financing. Securities backed by mortgage receivables are called mortgage-backed securities (MBS), while those backed by other types of receivables are asset-backed securities (ABS).Critics have suggested that the complexity inherent in securitization can limit investors' ability to monitor risk, and that competitive securitization markets with multiple securitizers may be particularly prone to sharp declines in underwriting standards. Private, competitive mortgage securitization is believed to have played an important role in the U.S. subprime mortgage crisis.In addition, off-balance sheet treatment for securitizations coupled with guarantees from the issuer can hide the extent of leverage of the securitizing firm, thereby facilitating risky capital structures and leading to an under-pricing of credit risk. Off-balance sheet securitizations are believed to have played a large role in the high leverage level of U.S. financial institutions before the financial crisis, and the need for bailouts.The granularity of pools of securitized assets can mitigate the credit risk of individual borrowers. Unlike general corporate debt, the credit quality of securitized debt is non-stationary due to changes in volatility that are time- and structure-dependent. If the transaction is properly structured and the pool performs as expected, the credit risk of all tranches of structured debt improves; if improperly structured, the affected tranches may experience dramatic credit deterioration and loss.Securitization has evolved from its beginnings in the late 18th century to an estimated outstanding of $10.24 trillion in the United States and $2.25 trillion in Europe as of the 2nd quarter of 2008. In 2007, ABS issuance amounted to $3.455 trillion in the US and $652 billion in Europe. WBS (Whole Business Securitization) arrangements first appeared in the United Kingdom in the 1990s, and became common in various Commonwealth legal systems where senior creditors of an insolvent business effectively gain the right to control the company.
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