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L4 bond1 - people.bath.ac.uk
L4 bond1 - people.bath.ac.uk

... Treasury securities are issued with maturity 2, 3, 5, 7, 10 and 30 years Treasury bills. Short-term securities with a maturity period of up to one year. They do not pay coupons. Holders receive the face amount at maturity. Treasury notes: Medium-term securities that have a maturity between 2 and 10 ...
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Slide set 1

ASIC CLASS ORDER [CO 06/
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... trading on a relevant financial market; an offer of a body's securities for sale within 12 months after their issue without disclosure where either the body issued the securities, or the person to whom they were issued acquired them, with the purpose of the securities being on-sold ; and an offer of ...
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ITEM 9 Treasury Management Annual Report 2011_12

... investments with prudence while maximising investment opportunities within the remit of Council policy. Investments would be structured to meet the Council’s cashflow requirements while minimising the risks associated with fixed term investments - viz. being tied-in to a low rate of return, or with ...
growth and the p/e ratio
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... (2) a form of basic information on the persons in charge; (3) an investment plan; (4) an explanation on the sources of funds; (5) an explanation on whether it has been subject to any major punishment by the regulatory authority in the latest three years or since the date when it is formed; (6) a bu ...
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THE EXTRAORDINARY DIVIDEND
THE EXTRAORDINARY DIVIDEND

China`s Equity Market Turmoil Raises Credit And Market Risks For
China`s Equity Market Turmoil Raises Credit And Market Risks For

< 1 ... 190 191 192 193 194 195 196 197 198 ... 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.
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