• Study Resource
  • Explore
    • Arts & Humanities
    • Business
    • Engineering & Technology
    • Foreign Language
    • History
    • Math
    • Science
    • Social Science

    Top subcategories

    • Advanced Math
    • Algebra
    • Basic Math
    • Calculus
    • Geometry
    • Linear Algebra
    • Pre-Algebra
    • Pre-Calculus
    • Statistics And Probability
    • Trigonometry
    • other →

    Top subcategories

    • Astronomy
    • Astrophysics
    • Biology
    • Chemistry
    • Earth Science
    • Environmental Science
    • Health Science
    • Physics
    • other →

    Top subcategories

    • Anthropology
    • Law
    • Political Science
    • Psychology
    • Sociology
    • other →

    Top subcategories

    • Accounting
    • Economics
    • Finance
    • Management
    • other →

    Top subcategories

    • Aerospace Engineering
    • Bioengineering
    • Chemical Engineering
    • Civil Engineering
    • Computer Science
    • Electrical Engineering
    • Industrial Engineering
    • Mechanical Engineering
    • Web Design
    • other →

    Top subcategories

    • Architecture
    • Communications
    • English
    • Gender Studies
    • Music
    • Performing Arts
    • Philosophy
    • Religious Studies
    • Writing
    • other →

    Top subcategories

    • Ancient History
    • European History
    • US History
    • World History
    • other →

    Top subcategories

    • Croatian
    • Czech
    • Finnish
    • Greek
    • Hindi
    • Japanese
    • Korean
    • Persian
    • Swedish
    • Turkish
    • other →
 
Profile Documents Logout
Upload
LEGAL REGULATIONS Accounting in the public sector EV Kalyuha
LEGAL REGULATIONS Accounting in the public sector EV Kalyuha

... of which is relevant and will bring significant benefits and advantages to users reporting. In some cases, the association made one IPSAS standard and excluded certain standards for the application of which isirrelevant. Currently, the system of legal regulation of public sector accounting is no nat ...
Credit cycles and systemic risk - Centre de Recerca en Economia
Credit cycles and systemic risk - Centre de Recerca en Economia

... imply a lack of market disciplining by bank creditors by not imposing losses on these debt-holders (as in the case of Ireland), which creates ex-ante moral hazard and appetite for excessive risk. Importantly, this view is based on agency problems in both the private sector (financial intermediaries ...
Achieving Your Target Return
Achieving Your Target Return

... If an investor is starting with no allocation or a very low allocation to private markets, it will generally take several years to ramp up their program and meet their desired allocation. Hence, this represents a long-term improvement and commitment rather than a short-term opportunity. There are wa ...
1.1. Necessity of the research problem
1.1. Necessity of the research problem

... Technological and Commercial Joint Stock Bank (Techcombank) in particular. For this reason, credit risk management is a major task of Vietnam Technological and Commercial Joint Stock Bank (Techcombank). However, in addition to contributing greatly to commercial banks, credit is risky. Credit risks o ...
Budget 2017-18 - Budget Paper No. 1
Budget 2017-18 - Budget Paper No. 1

Liquidity in an emerging bond market: the case of corporate bonds
Liquidity in an emerging bond market: the case of corporate bonds

... including the trade date and time, face value of the trade, clean price, counterparty, issuer code and credit rating, issue and maturity dates, and amount outstanding. Each financial institution participating in the transaction is identified by an anonymous code, but no distinction is made between t ...
Balanced Income Portfolio Interim Management Report of Fund
Balanced Income Portfolio Interim Management Report of Fund

... At least annually, the IRC reviews the Related Party Transactions for which they have issued standing instructions. The IRC is required to advise the Canadian securities regulatory authorities, after a matter has been referred or reported to the IRC by the Manager, if it determines that an investmen ...
Listing Guide for the Listing of Bonds on the Regulated Market of the
Listing Guide for the Listing of Bonds on the Regulated Market of the

... terms and conditions of this stock exchange.  It has sufficient working capital.  It is not bound against anyone in a manner which is incompatible with the interests of the holders of its titles.  It ensures equal treatment of the beneficiaries of the securities of the same category  It provides ...
Barings Developed and Emerging Markets High Yield Bond
Barings Developed and Emerging Markets High Yield Bond

... securities trading in markets with larger trading volumes. Moreover, the settlement periods in certain markets may be longer than in others which may affect portfolio liquidity. ...
Transaction in the share market
Transaction in the share market

... different time periods without first adjusting them using an interest rate. ...
Longevity risk - Andrei Simonov
Longevity risk - Andrei Simonov

... of bond set at 20 basis points.  Given that this is first ever bond brought to market, markets have no real feeling as to how fair this figure is.  However, concern that up-front capital was too large compared with risks being hedged by bond: – longevity and interest rate risks ...
FCIC Roundtable - October 20 2009 (4)_1
FCIC Roundtable - October 20 2009 (4)_1

... The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, ...
Riding the Stagecoach to Hell: A Qualitative Analysis of
Riding the Stagecoach to Hell: A Qualitative Analysis of

Market Linked Securities
Market Linked Securities

... have capped returns, an allocation that includes Market Linked Securities will underperform a portfolio comprised solely of direct investments in very bullish markets. Moreover, Market Linked Securities are not the same as investing directly in the asset class. All payments on Market Linked Securiti ...
From low to negative rates
From low to negative rates

... estimate a panel model to study the effects of prolonged low interest rates on banks in Austria. It shows that the profitability of banks declines in times of low interest rate environments. However, we are skeptical of extrapolating these findings to the negative environment. In a negative environm ...
Chapter 1
Chapter 1

The Myths and Fallacies about Diversified Portfolios
The Myths and Fallacies about Diversified Portfolios

Household Wealth
Household Wealth

QFI CORE Model Solutions Fall 2014
QFI CORE Model Solutions Fall 2014

... It is possible that one can find a continuous surface such that the partial derivatives do indeed satisfy the PDE. But it may still be impossible to represent this surface in terms of easy and convenient formula as in the case of the simple Black-Scholes formula. The volatility factor does not need ...
The Elephant in the Room: The Need to Deal with What
The Elephant in the Room: The Need to Deal with What

... of the current crisis. While some large diversified banks that focused mainly on commercial banking survived very well, others suffered crippling losses. Sound corporate governance and strong riskmanagement culture should enable banks to avoid excessive leverage and risk taking. The question is whet ...
CH 3 Objectives
CH 3 Objectives

... * Customer Service Managers – efficiency ratios ...
Commercial Real Estate: New Paradigm or Old Story?
Commercial Real Estate: New Paradigm or Old Story?

... lower hurdles for the real estate investor today than they have historically, even considering the recent turmoil in subprime mortgages and related credit markets. As long as these elements stay in place, we believe, valuations can remain richer than they have been historically. Let’s first focus on ...
Public Debt and Total Factor Productivity
Public Debt and Total Factor Productivity

... productivity shocks. Their owners can invest either in their own business, which is optimal if productivity is sufficiently high, or in financial assets. There is an asset market for business credit which operates in each period, after firm productivities are revealed. Besides lending to other firms ...
Insurance Asset Management Trends in 2014
Insurance Asset Management Trends in 2014

Slowdown of Credit Flows in Jordan in the Wake of the Global
Slowdown of Credit Flows in Jordan in the Wake of the Global

... for this class of disequilibrium models, which has been used for empirical analysis of credit markets in different countries. Pazarbasioglu (1997) estimates a disequilibrium model of credit demand and supply for Finland for the period 1981-95. Credit demand is modeled as a function of the cost of cr ...
< 1 ... 101 102 103 104 105 106 107 108 109 ... 257 >

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.
  • studyres.com © 2025
  • DMCA
  • Privacy
  • Terms
  • Report