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General Principles for Credit Reporting
General Principles for Credit Reporting

paypal holdings, inc. - Nasdaq`s INTEL Solutions
paypal holdings, inc. - Nasdaq`s INTEL Solutions

... In 2014, the Financial Accounting Standards Board (FASB) issued new guidance related to pushdown accounting. The new guidance provides an acquired entity with an option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control ...
Prospectus View the prospectus
Prospectus View the prospectus

... Kingdom, must be relevant persons and (3) if located in any Member State other than the United Kingdom, must be Qualified Investors. By accepting this e-mail and accessing the Document, you shall be deemed to have represented to the Company and each of the Banks that (1) you have understood and agre ...
Form S-2 - Lionsgate
Form S-2 - Lionsgate

... Theatrical. According to the Motion Picture Association of America, or MPAA, overall domestic box office revenue increased 13.2% to $9.5 billion in 2002. The domestic motion picture exhibition industry has historically maintained steady growth in revenues and attendance. The MPAA reports that total ...
IMPORTANT NOTICE You must read the following before continuing
IMPORTANT NOTICE You must read the following before continuing

Form 10-K - cloudfront.net
Form 10-K - cloudfront.net

... We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this Form 10-K regarding the prospects of our industry, our anticipated finan ...
united states securities and exchange commission - corporate
united states securities and exchange commission - corporate

... We calculated rated capacity by estimating the number of days in a typical year that a production unit of a plant is expected to operate, after allowing for downtime for regular maintenance, and multiplying that number by an amount equal to the unit’s optimal daily output based on the design feedsto ...
Discussion Paper - Australian Prudential Regulation Authority
Discussion Paper - Australian Prudential Regulation Authority

Canadian Repo Market Ecology
Canadian Repo Market Ecology

... The repurchase agreement (“repo”) plays an important role in Canadian financial markets. It enables quick collateralized funding, supports trading activities such as market-making and principal trading, and provides security holders with a source of income. During 2014, a daily average of about CAD ...
Payments on Long-Term Debt As Voidable Preferences
Payments on Long-Term Debt As Voidable Preferences

... bankruptcy petition. In the case of a corporate debtor, an insider is defined to include a director, officer, or person in control of the debtor, IIU.S.C. § 101(28)(B)o-(ii) (Supp. III 1985), and in the case of an individual debtor, an insider is defined to include a relative of the debtor. Id. § 10 ...
Competition, Reach for Yield, and Money Market Funds
Competition, Reach for Yield, and Money Market Funds

... decreases with the cost of default, and the equilibrium default probability is strictly positive for (almost) all funds. Funds trade off expected costs of default for the expected gains of outperforming competitors by taking more risk. The fund with the highest default cost anticipates that in equil ...
What caused the collapse of Lehman Brothers?
What caused the collapse of Lehman Brothers?

... world was expecting (LaRoche, n.d.). Lehman was a party to three most common types of transactions, namely: credit default swaps, interest rate swaps, and foreign exchange derivatives but investor confidence continued to erode as Lehman's stock lost roughly half its value and pushed the S&P 500 down ...
UNICREDIT INTERNATIONAL BANK (LUXEMBOURG) S.A.
UNICREDIT INTERNATIONAL BANK (LUXEMBOURG) S.A.

... Prospectus does not omit to state any fact necessary to make such information, opinions, predictions or intentions (in such context) not misleading in any material respect; and that all proper enquiries have been made to verify the foregoing. No person has been authorised to give any information or ...
Canada Deposit Insurance Corporation
Canada Deposit Insurance Corporation

... substance of CDIC’s Standards and any changes that might be desirable, how the cost of compliance for the industry might be reduced, how the administration of the Standards might be streamlined, how any unproductive duplication between CDIC and OSFI might be eliminated, and how collaboration between ...
Studies on the Validation of Internal Rating Systems
Studies on the Validation of Internal Rating Systems

US CORNER - Paul, Weiss
US CORNER - Paul, Weiss

Essays on government debt financing costs
Essays on government debt financing costs

... their government debt / gross domestic product quotients dynamics were not sustainable. The most important factors in this process were smaller growth, bad structural balance of the budget, and high financing costs of the government debt, which is related to the increasing sovereign yields. These th ...
Working Paper No. 14 -Studies on the Validation of Internal Rating
Working Paper No. 14 -Studies on the Validation of Internal Rating

Credit Suisse Global Investment Returns Yearbook 2013
Credit Suisse Global Investment Returns Yearbook 2013

... reality, however, they are likely to provide an upwardly biased estimate. This is because they are estimated from bond prices, and bonds provide a maturity premium to compensate investors for the volatility of long-bond returns, for inflation and real interest rate risk, and to reflect transient fac ...
prospectus
prospectus

... amendments to money market fund regulations (2014 Amendments). Under the 2014 Amendments, money market funds that qualify as “retail” (retail money market funds) or “government” (government money market funds) are permitted to utilize amortized cost to value their portfolio securities and to transac ...
KANSAS CITY SOUTHERN
KANSAS CITY SOUTHERN

... a result the Company’s stock price has risen steadily, ending 2010 at $47.86 and 2011 at $68.01. Nearly three years removed from the recession, KCS’ market capitalization has risen above $7 billion. As gratifying as this performance might be for KCS and its stockholders, what is particularly encoura ...
China National Materials Company Limited
China National Materials Company Limited

... CEMENT EQUIPMENT AND ENGINEERING SERVICES During the Reporting Period, affected by the macroeconomic condition, investments slowed down in the cement industry in the domestic and overseas markets, coupled with intensified market competition. Capitalizing on our brand strength, the segment continued ...
Alterna Savings and Credit Union Limited
Alterna Savings and Credit Union Limited

Raising Capital- Get the Money You Need To Grow Your Business
Raising Capital- Get the Money You Need To Grow Your Business

... INCE THE PUBLICATION OF THE FIRST EDITION of Raising Capital in early 2000, so much has changed, yet the fundaments of creating an effective capital formation strategy have remained the same and are timeless. The text of Raising Capital’s first edition was written in 1998 and 1999—the heyday of the ...
newmont mining corporation
newmont mining corporation

... the results that may be reported for the entire year. These interim statements should be read in conjunction with Newmont’s Consolidated Financial Statements for the year ended December 31, 2012 filed February 22, 2013 on Form 10-K. The year-end balance sheet data was derived from the audited financ ...
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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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