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Definitions of Ratings and Other Forms of Opinion
Definitions of Ratings and Other Forms of Opinion

Convocation Notice of The 92nd Annual General Meeting of
Convocation Notice of The 92nd Annual General Meeting of

southwest gas corporation - corporate
southwest gas corporation - corporate

... at the Southwest Gas utility entity. Regulatory applications for preapproval of the reorganization were filed with the Arizona Corporation Commission (“ACC”), the California Public Utilities Commission (“CPUC”), and the Public Utilities Commission of Nevada (“PUCN”) in October 2015. Approvals were r ...
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Scholar`s Edge Enrollment Kit

Form ADV 2A – Firm Brochure - HD Vest Financial Services
Form ADV 2A – Firm Brochure - HD Vest Financial Services

Scheme Information Document IDFC Dynamic Bond Fund
Scheme Information Document IDFC Dynamic Bond Fund

... 1. To the extent the assets of the Scheme is invested in overseas financial assets, there may be risks associated with currency movements, restrictions on repatriation and transaction procedures in overseas market. Further, the repatriation of capital to India may also be hampered by changes in regu ...
The IMF and Danmarks Nationalbank`s Balance Sheet
The IMF and Danmarks Nationalbank`s Balance Sheet

... billion at end-2002, equivalent to more than 4 per cent of the foreignexchange reserve. The quota is approximately 8 per cent of the foreignexchange reserve. In 1969, when Danmarks Nationalbank took over the responsibility for accounts with the IMF from the Ministry of Finance, Denmark's quota was 4 ...
The Timing of Asset Sales
The Timing of Asset Sales

... implicit contracts. Incentives arising from stakeholder costs are associated with the role of reported earnings in assessing the ability of the firm to honour implicit claims, such as warranties, employment contracts, use of trade credit and so on. Controlling for traditional earnings management inc ...
2013-2 ESMA Report - Review of practices related to
2013-2 ESMA Report - Review of practices related to

... financial statements. A fall in market capitalisation below the book value of equity is an indication that impairment may have occurred. As of 31 December 2011, 43% of the sample showed a market capitalisation below equity. Out of these issuers, 47% recognised impairment losses on goodwill in their ...
RTF - Vornado Realty Trust
RTF - Vornado Realty Trust

... Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization (including amortization of deferred financing costs) Real estate impairment losses Net gain on disposition of wholly owned and partially owned assets Straight-lining of rental income Retur ...
Leverage and Disagreement ∗ François Geerolf UCLA
Leverage and Disagreement ∗ François Geerolf UCLA

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Essentials of Financial Risk Management

... What Is Financial Risk Management? Financial risk management is a process to deal with the uncertainties resulting from financial markets. It involves assessing the financial risks facing an organization and developing management strategies consistent with internal priorities and policies. Addressin ...
2015 Annual Report - For Investors
2015 Annual Report - For Investors

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securities and exchange commission

... promissory note receivable at December 31, 2012, issued to CompX by its former Taiwanese subsidiary which retained legal ownership in the land to facilitate the future sale of the land to a third party. The proceeds from a future sale of the land were required to be used to settle the note receivabl ...
2009 Annual Report - Berkshire Hathaway Inc.
2009 Annual Report - Berkshire Hathaway Inc.

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TreeHouse Foods, Inc. (Form: 10-K, Received: 02/18

... their potential effect on us. These forward-looking statements and other information are based on our beliefs as well as assumptions made by us using information currently available. Such statements reflect our current views with respect to future events and are subject to certain risks, uncertainti ...
Cabot Corporation - Investor Relations Solutions
Cabot Corporation - Investor Relations Solutions

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... management services are delivered through a management agreement with Morguard Investments Limited (“MIL”). MIL is a full-service real estate advisory company wholly owned by Morguard. MIL also provides advisory and management services to institutional and other investors not related to Morguard or ...
2016 Annual Financial Report
2016 Annual Financial Report

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Liquidity transformation in asset management

... impact, bank loans cannot be traded before maturity without creating substantial price impact. For asset managers, however, there is no comparable measure. Their assets are typically tradeable securities, though with varying levels of liquidity. Furthermore, some price impact can be passed on to inv ...
Liquidity Coverage Ratio
Liquidity Coverage Ratio

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GRUPO FINANCIERO GALICIA S.A.

... We maintain our financial books and records in Argentine Pesos and prepare our financial statements in conformity with the accounting rules of the Argentine Central Bank, which entity prescribes the generally accepted accounting principles for all financial institutions in Argentina. This annual rep ...
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Sequencing riSk a key challenge to creating SuStainaBle

... working life. However, for someone who is 60 years of age and whose retirement outcomes are largely driven by investment returns, experiencing this sequence of returns over the final decade of their working life leads to a vastly different outcome. Unlike the younger investor, the 60-year-old does n ...
Regulatory Capital Requirements under FTK and
Regulatory Capital Requirements under FTK and

... is complementary to the ’AOW’ income. The Dutch pension system is based on solidarity between different generations as well as solidarity within a generation. It is obligated for participants to participate in this pillar since otherwise the solidarity effect could disappear. The last pillar is vol ...
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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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