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Selected US Securities Law Issues
Selected US Securities Law Issues

Sovereign Default: The Role of Expectations.
Sovereign Default: The Role of Expectations.

over confidence amongst us
over confidence amongst us

Document
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... • Deferred Tax Liability - balance sheet account showing future additional income taxes • Deferred Tax Asset - balance sheet account showing the amount by which future income taxes will be reduced ...
managed futures strategy fund
managed futures strategy fund

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URL Address

Credit Risk and the Performance of Nigerian Banks
Credit Risk and the Performance of Nigerian Banks

FRBSF  L CONOMIC
FRBSF L CONOMIC

... quarterly changes since 1966 in the net percentage of reporting institutions indicating a greater willingness to make consumer installment loans. The quarterly changes are cumulated over time and the resulting series is scaled to have a value of 100 at the peak, which occurred in the first quarter o ...
Appendices - NT Treasury
Appendices - NT Treasury

... Department of the Attorney-General and Justice Department of Business Department of the Chief Minister Department of Children and Families Department of Corporate and Information Services Department of Correctional Services Department of Education Department of Health Department of Housing Departmen ...
Bond Issues
Bond Issues

Financial Maths Solutions
Financial Maths Solutions

802.4R2 Capital Assests Management Systems Definitions
802.4R2 Capital Assests Management Systems Definitions

... Back trending/standard costing - an estimate of the historical original cost using a known average installed cost for like units as of the estimated addition/ acquisition date. This cost is only applied to the capital assets initially counted upon implementation of the capital assets management syst ...
Risk profile of households and the impact on financial stability
Risk profile of households and the impact on financial stability

... Households and monetary and financial stability The household sector, like the corporate sector, is part of the real sector in the economy, in which it plays an important role for many reasons. Household debt has increased at a rapid pace over the past few decades, raising concerns over its sustaina ...
BANK LENDING SURVEY Results for Portugal I. Overall assessment July 2006
BANK LENDING SURVEY Results for Portugal I. Overall assessment July 2006

... enterprises were identified. Two banks reported a reduction in spreads applied to average risk loans, which contrasts with the increase in spreads applied to riskier loans reported by a bank. A decrease in non-interest rate charges was also pointed out by an institution. During the second quarter of ...
Derivatives and Risk Management
Derivatives and Risk Management

... the use of hedging. If the firm were concerned that interest rates will rise, it would use a short hedge, or sell financial futures contracts. If interest rates do rise, losses on the issue due to the higher interest rates would be offset by gains realized from repurchase of the futures at maturity- ...
Jindal Saw (SAWPIP)
Jindal Saw (SAWPIP)

... • Jindal Saw reported a mixed set of Q3FY16 numbers wherein the topline, EBITDA and PAT came in lower than our estimates. Pipes sales volume came in lower than our estimate. EBITDA margins, however, surprised positively during the quarter • Topline for the quarter came in at | 1077.0 crore (down 39. ...
Introduction to Financial Management
Introduction to Financial Management

... • “Asset-specific risk” • Examples: labor strikes, part shortages, etc. Return to Quick Quiz ...
Chapter 14
Chapter 14

... additional insights into the effect of financial leverage on the firm and pinpoints the effect of income taxes on ROE We begin with the operating profit margin (EBIT divided by sales) and introduce additional ratios to derive an ROE value ...
CHAPTER 1: INTRODUCTION
CHAPTER 1: INTRODUCTION

Introduction - Slovenská poľnohospodárska univerzita v Nitre
Introduction - Slovenská poľnohospodárska univerzita v Nitre

... It is the risk on an investment´s value changing according to changes in currency exchange rates. It means risk that an investor will have to close out a long or short position in a foreign currency at a loss due to an adverse movement in exchange rates. ...
aia-qb
aia-qb

... It is now January 200X, the FTSE-100 index is currently at 4000. Short term interest rates are at 5.0% per annum; the expected dividend yield on FTSE stocks is 3.0%. A Fund manager has a well diversified portfolio of shares and a current value of £1 m. The fund has a beta of 1.0. He feels the market ...
Advising the Behavioral Investor
Advising the Behavioral Investor

... page, we can see that although the timing was close to optimal, the majority of investors did actually miss the lowest point – they would have achieved higher returns if they had started buying when the sentiment index stood at an unusually low level of 20%. Moving from investment assets to cash (or ...
SAST - SA JPMorgan MFS Core Bond Portfolio Summary
SAST - SA JPMorgan MFS Core Bond Portfolio Summary

... rights are subordinate to the company’s debt holders and creditors. If interest rates rise, the fixed dividend on preferred stocks may be less attractive and the price of preferred stocks may decline. Deferred dividend payments by an issuer of preferred stock could have adverse tax consequences for ...
Deloitte report identifies `red flags` for hedge fund managers and
Deloitte report identifies `red flags` for hedge fund managers and

... 'Those that thrive in this new competitive environment will be those that pay particular attention to risk management and valuation. They will be the ones who attract institutional fund investors and, just as important, understand the risks they are taking and make the informed risk-return trade-off ...
Is Sell in May Still in Play?
Is Sell in May Still in Play?

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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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