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KASE Standard Presentation dated November 1, 2007
KASE Standard Presentation dated November 1, 2007

Higher Interest Rates Are on the Horizon
Higher Interest Rates Are on the Horizon

... the initial interest rate on a variable rate loan is typically significantly lower than a fixed rate loan for the same term. The borrower accepts the risk that interest rates could rise, resulting in even higher payments at a time when the borrower may be least able to afford them. Lenders are willi ...
GATE Reports $44.0M in EBITDA for 3Q16
GATE Reports $44.0M in EBITDA for 3Q16

... Sales expected to be above seasonal norm; 4Q16 sales expected to be down 2% to up 2% qoq. ...
Another view on the pricing of MBSs, CMOs and CDOs of ABSs
Another view on the pricing of MBSs, CMOs and CDOs of ABSs

... same logic: gather more-or-less tradable assets together in an ad hoc vehicle, create different tranches that would provide different risk/return profiles for different classes of investors and sell them. Let us keep in mind the two icons of this business. • Synthetic corporate collateralised debt o ...
Streamlined sales process for investment products
Streamlined sales process for investment products

GROW... - Amerisource Funding
GROW... - Amerisource Funding

... total cost of a Cash Advance. With Cash Advance, the client gets the advance paid directly into their checking account. The client then has to start making daily repayments (deducted directly from their checking account) to pay off the Advance in 3 – 6 months. Many clients, after only a short time, ...
Navigating the Fixed Income Universe
Navigating the Fixed Income Universe

... Finally, an investor needs to have an alpha target. Within the construct of a duration decision driven by an investor’s overall portfolio objectives and a sector decision driven by an investor’s risk tolerance, how much incremental return does the investor expect or require? The duration and sector ...
Does PE Create Value.Apr 08
Does PE Create Value.Apr 08

... Public company boards lack the incentives, time, training and information to adequately monitor firm’s derivative exposure Private equity firms help to offset these governance problems by exercising strong control ...
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Presentation title here in Arial 32pt

... This presentation is for information purposes only and it is not intended as promotional material in any respect. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Schroders has expressed its own views and opinions in this document and the ...
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Manager`s Comment Performance Total Return

... Investment in the British Empire Trust plc (the "Trust") carries risks, which are more fully described in the Key Features Document. Listed below are some of the key risks: Investors are reminded that past performance is not a guide to future performance and that their capital will be at risk and th ...
financial prudential norms
financial prudential norms

The Federal Home Loan Bank System: The
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Reducing Systemic Risk: Canada`s New Central
Reducing Systemic Risk: Canada`s New Central

... be required to settle all transactions on their original value date. For example, if a clearing member defaulted before settling its purchases, CDCC would be obliged to continue to buy the securities from the surviving members, knowing that the defaulter would not in turn buy them from CDCC. Therefo ...
Credit Risk Transfer Practices in US Commercial Banks
Credit Risk Transfer Practices in US Commercial Banks

... over the others for transferring credit risk. A typical loan sale contract is the simplest CRT mechanism through which the loan originator sells all or part of payments from the underlying loan to a third party. Unlike securitization, loan sales involve no creation of new securities. In some cases, ...
Q3 2010 - Spears Abacus
Q3 2010 - Spears Abacus

Introduction to Bloomberg
Introduction to Bloomberg

... function. Within the DES pages, there are links to many other functions, including those described below. The RELS function provides a list of related securities, subsidiaries, etc. ...
Housing and Financial Market Conditions Eric S. Rosengren
Housing and Financial Market Conditions Eric S. Rosengren

...  Such funds still remain vulnerable to an unexpected credit shock that causes investors to doubt the ability to redeem at a stable net asset value  I am certainly not predicting this outcome, but we all do well to recognize and address this vulnerability  It would be prudent to address this issue ...
On the Markets - Morgan Stanley Locator
On the Markets - Morgan Stanley Locator

PDF - Why "skin in the game" may mean "out of the index"
PDF - Why "skin in the game" may mean "out of the index"

C. Ad hoc guarantees - WTO Documents Online
C. Ad hoc guarantees - WTO Documents Online

INVESTMENT BANKING
INVESTMENT BANKING

... B. JUNK BONDS – Bonds of lower quality than investment-grade bonds. Bond ratings range from AAA to C & D, which refer to bonds already in default. The purpose of bond ratings is to provide investors with an idea of creditworthiness. Will an investor receive his promised interest and principal payme ...
a Durable Income Characteristic
a Durable Income Characteristic

... •No capital appreciation: Returns from only interest income (i.e. driven by interest rates) . No returns from good buy and sell market timing and security selection decisions •Low risk adjusted returns: Sharpe ratio of just 0.1. Investors not getting compensated for the risks that they take. •No ill ...
Asset-Backed Securities and Companies in Mortgage
Asset-Backed Securities and Companies in Mortgage

... The SEC is asking for comment on whether any of these existing or proposed provisions could serve as substitutes for references to ratings in Rule 3a-7 and the potential impact of incorporating them on issuers of asset-backed commercial paper and other issuers that may currently rely on Rule 3a-7 bu ...
Free Sample
Free Sample

... securities that are sold to the general public. T 44. The cost of an underwriting (to the firm issuing the securities) is the difference between the price of the public and the proceeds received by the firm. T 45. A new issue of corporate securities sold to the general public must be registered with ...
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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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