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International Reserves and Foreign Currency Liquidity
International Reserves and Foreign Currency Liquidity

... Concept: Gross international reserves are external assets that are readily available to and controlled by the National Bank of Kazakhstan (NBK) for direct financing of payment imbalances, for indirectly regulating the magnitude of such imbalances, through intervention in exchange markets to affect t ...
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answers to questions - ORU Accounting Information

Justification for the 09.05.2017 decision by the FCMC Board on
Justification for the 09.05.2017 decision by the FCMC Board on

... continue to climb with the rate of the increase accelerating in the second half of 2016. Enlivening of the real estate market is a positive trend; however, this market segment should be closely monitored in view of relatively higher pace of housing price growth over past quarters. Housing price dyna ...
Newsletter-2007-12 - Patient Capital Management Inc
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... The preceding quote is from a conference call following the announcement that America’s largest home-loan lender saw profits fall by a third because of growing delinquencies - not only from risky subprime borrowers, but also from some credit-worthy borrowers. Too bad Mr. Mizilo did not subscribe to ...
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1Q17 FT Preferred Securities and Income Fact

... also subject the Fund to many of the same risks associated with direct cyber security breaches. The Fund has established risk management systems designed to reduce the risks associated with cyber security. However, there is no guarantee that such efforts will succeed, especially because the Fund doe ...
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... This is a figure that appears in the Balance Sheet. It comprises the current assets less the current liabilities. It can be a very important figure. For example, you may have total assets of £1,000,001, but if a million of this is an old building and only £1 is in the bank then it’s not so good. Pre ...
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press release (Word)

... This press release does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in Australia, Canada, Japan, or the United States of America (the "United States"), or in any jurisdiction to whom or in which such offer or solicitation i ...
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Portfolio Selection and the Asset Allocation Decision

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cash flow statement

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Columbia VP High Yield Bond Fund — Class 2

... purposes) in high-yield debt instruments (commonly referred to as "junk" bonds or securities). It may invest up to 25% of its net assets in debt instruments of foreign issuers. The fund may invest in debt instruments of any maturity and does not seek to maintain a particular dollar-weighted average ...
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... the Student Workbook. Ask the students to follow along as you explain the types of credit found in the table, as well as the advantages and disadvantages of each. Make sure that the students understand the key characteristics of the lending institutions identified in the table. These characteristics ...
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... to generate a solid track record with a high degree of consistency. PIMCO seek to add value through the use of “top-down” strategies such as exposure to interest rates, duration, changing volatility, yield curve positioning and sector rotation. PIMCO also employs “bottom-up” strategies involving ana ...
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... Traders (members) hold seats. (Specialists, Floor traders, Odd Lot traders) Sale of seats must be approved (Pre-qualifications must be met.) Transactions tend to be centralized; advantageous for price discovery ...
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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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