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AMICE response to EIOPA Consultation on the review of specific
AMICE response to EIOPA Consultation on the review of specific

Short selling around the world with applications to the S…
Short selling around the world with applications to the S…

... creates “phantom”stock and improperly increases the number of shares in circulation. ...
Intermediary Asset Pricing
Intermediary Asset Pricing

GENERAL ELECTRIC CO (Form: 10-K405, Received: 03
GENERAL ELECTRIC CO (Form: 10-K405, Received: 03

... commercial broadcast television networks. It also competes with two newly launched commercial broadcast networks, syndicated broadcast television programming and cable and satellite television programming activities. The businesses in which GE Capital Services engages are subject to competition from ...
The Term Structure of Money Market Spreads
The Term Structure of Money Market Spreads

Introduction to Portfolio Selection and Capital Market Theory: Static Analysis BaoheWang
Introduction to Portfolio Selection and Capital Market Theory: Static Analysis BaoheWang

Disclosure Booklet - Oregon College Savings Plan
Disclosure Booklet - Oregon College Savings Plan

... with positive duration will generally decline if interest rates increase. Certain other investments, such as inverse floaters and certain derivative instruments, may have a negative duration. The value of instruments with a negative duration will generally decline if interest rates decrease. Inverse ...
Sample Chapter - McGraw Hill Higher Education
Sample Chapter - McGraw Hill Higher Education

... single period. But often you will be interested in average returns over longer periods of time. For example, you might want to measure how well a mutual fund has performed over the preceding five-year period. In this case, return measurement is more ambiguous. Consider a fund that starts with $1 mil ...
Form 10-K - corporate
Form 10-K - corporate

... Table of Contents materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting original equipment manufacturer specifications. The segment accounted for 34% of IDEX’s sales and 31% of operating i ...
Banks credit assessment to small businesses
Banks credit assessment to small businesses

... society and the economic growth. In the way that it is a valuable source of creating new job opportunities and introducing innovative products to the market among other factors (OECD, 2006). Small businesses represent 99 percent of all companies in Sweden and they are a provider of one third of the ...
Structural Features of Australian Residential Mortgage
Structural Features of Australian Residential Mortgage

... denominated in a foreign currency. Swaps with third parties are used to reduce asset-liability mismatches by modifying some of the funds in the collection account (see ‘Transforming Cash Flows’ section). ...
Investment Strategy Considerations for Inflation
Investment Strategy Considerations for Inflation

CreditMetrics™ — Technical Document
CreditMetrics™ — Technical Document

... default risk as the available data quality would allow. Although we never mandated during this development that CreditMetrics must resemble RiskMetrics, the outcome has yielded philosophically similar models. One major difference in the models was driven by the difference in the available data. In R ...
Bond Positions, Expectations, And The Yield Curve∗
Bond Positions, Expectations, And The Yield Curve∗

Current Trends in the Global Reinsurance Market
Current Trends in the Global Reinsurance Market

... simulations and projections are for illustrative purposes only and are based on certain assumptions. Therefore the recipient should not place undue reliance on these results. Past performance does not guarantee future results. Neither MMCSC nor GC is a legal, tax or accounting adviser and makes no r ...
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
UNITED STATES SECURITIES AND EXCHANGE COMMISSION

... Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to s ...
Household Portfolios in Italy
Household Portfolios in Italy

... different from that of subsequent surveys. Accordingly, we choose to start our analysis with 1989.4 Portfolio data are particularly rich in the 1995 and in the newly released 1998 SHIW: special sections of the questionnaire address crucial issues in the analysis of household portfolios, such as know ...
Chapter 002 Financial Statements, Taxes, and Cash
Chapter 002 Financial Statements, Taxes, and Cash

FREE Sample Here
FREE Sample Here

... http://testbank360.eu/test-bank-essentials-of-corporate-finance-6th-edition-ross 32. Which two of the following determine when revenue is recorded on the financial statements based on the recognition principle? I. when payment is collected for the sale of a good or service II. when the earnings proc ...
Essay - Shadow Banking
Essay - Shadow Banking

... repurchase agreement) have been used by the traditional sector too12. Therefore, one cannot label an activity as a shadow banking one since it does not depend on the activity 8 Firstly mentioned in April 2011 in [13] FSB, April 2011. 9 Maturity transformation refers to using short-term liabilities t ...
sterling advisors, inc firm brochure
sterling advisors, inc firm brochure

... After an initial meeting with the client and when deemed appropriate, we may recommend the services of an independent investment adviser (“Third Party Adviser”). The recommendation will depend on the client’s circumstances, goals and objectives, strategy desired, account size, risk tolerance, or oth ...
Risk Perceptions, Directional Goals and the Link between Risk and
Risk Perceptions, Directional Goals and the Link between Risk and

capital budgeting
capital budgeting

Title of presentation
Title of presentation

... backtest the performance of P2P based on historical bank loan performance data ...
< 1 ... 37 38 39 40 41 42 43 44 45 ... 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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