Design of Financial Securities: Empirical Evidence from Private-label RMBS Deals
... at issuance predicts better future performance beyond what can be explained by observed credit risk factors, and markets reflected this quality by paying a higher price for securities from these deals. Our study connects to several strands of literature in banking, securitization, and real estate f ...
... at issuance predicts better future performance beyond what can be explained by observed credit risk factors, and markets reflected this quality by paying a higher price for securities from these deals. Our study connects to several strands of literature in banking, securitization, and real estate f ...
Effects of the Simultaneous Holding of Equity and Debt by Non
... particular, shareholders have an incentive to increase firm risk or to divert assets after leverage increases. Although creditors could protect themselves from such opportunistic behavior by adding provisions to loan contracts and engaging in covenant monitoring, such protections are far from perfec ...
... particular, shareholders have an incentive to increase firm risk or to divert assets after leverage increases. Although creditors could protect themselves from such opportunistic behavior by adding provisions to loan contracts and engaging in covenant monitoring, such protections are far from perfec ...
NBER WORKING PAPER SERIES BORROWING CONSTRAINTS AND CONSUMPTION BEHAVIOR IN JAPAN Midori Wakabayashi
... In this paper, we use Japanese micro data to examine what characteristics borrowing-constrained households have and whether borrowing constraints have an important influence on household consumption behavior. We identify borrowing-constrained households using three different indicators, some of whic ...
... In this paper, we use Japanese micro data to examine what characteristics borrowing-constrained households have and whether borrowing constraints have an important influence on household consumption behavior. We identify borrowing-constrained households using three different indicators, some of whic ...
DP2012/05 The macroeconomic effects of a stable funding requirement
... Bagehot (1873) argued that central bank liquidity provision should be provided at a penalty rate to reduce the moral hazard problem. Shin (2010) considers a tax on noncore funding. Kocherlakota (2010) proposes market-based pricing of macro-prudential taxes. Perotti and Suarez (2011) compare tax and ...
... Bagehot (1873) argued that central bank liquidity provision should be provided at a penalty rate to reduce the moral hazard problem. Shin (2010) considers a tax on noncore funding. Kocherlakota (2010) proposes market-based pricing of macro-prudential taxes. Perotti and Suarez (2011) compare tax and ...
Advertising guide - Promote general financing and No Interest if
... with your business and ours. The ultimate test is not the size of the font or the location of the disclosure, but whether the information intended to be disclosed is actually conveyed to the customer. State and federal laws and regulators that mandate specific rules when promoting financing include, ...
... with your business and ours. The ultimate test is not the size of the font or the location of the disclosure, but whether the information intended to be disclosed is actually conveyed to the customer. State and federal laws and regulators that mandate specific rules when promoting financing include, ...
The Financial Policy Committee`s framework for the systemic risk buffer
... institutions carry higher levels of capital so that they can absorb stresses and continue to maintain critical financial services to the real economy, particularly the provision of credit. This principle has been recognised in the Basel framework for global systemically important banks (G-SIBs), whi ...
... institutions carry higher levels of capital so that they can absorb stresses and continue to maintain critical financial services to the real economy, particularly the provision of credit. This principle has been recognised in the Basel framework for global systemically important banks (G-SIBs), whi ...
Advanced arithmetic
... THE need felt for an advanced text-book in arithmetic that shall develop fundamental principles and at the same time include the essentials of commercial practice is responsible for the appearance of this book. T h e author believes that mental training is an important feature in the study of arithm ...
... THE need felt for an advanced text-book in arithmetic that shall develop fundamental principles and at the same time include the essentials of commercial practice is responsible for the appearance of this book. T h e author believes that mental training is an important feature in the study of arithm ...
In Short Supply: Short‐Sellers and Stock Returns
... lending market, we also examine the consequences and the determinants of short supply. The fact that firms’ specialness portends lower future returns is well known. We build on this insight by demonstrating the importance of supply and demand variables, after conditioning on specialness. In ad ...
... lending market, we also examine the consequences and the determinants of short supply. The fact that firms’ specialness portends lower future returns is well known. We build on this insight by demonstrating the importance of supply and demand variables, after conditioning on specialness. In ad ...
NBER WORKING PAPER SERIES TO 2007 Patrick Bajari
... Century Financial Corporation been forced to declare bankruptcy, but also commercial- and investment banks have experienced substantial losses from write-downs on the value of MBS and collateralized debt obligations. A further consequence has been the collapse of major institutions including Bear St ...
... Century Financial Corporation been forced to declare bankruptcy, but also commercial- and investment banks have experienced substantial losses from write-downs on the value of MBS and collateralized debt obligations. A further consequence has been the collapse of major institutions including Bear St ...
Credit Rating and Short-Term Debt Financing: Empirical
... countries such as USA and Western European countries, trade credits are prevailingly used while they service relatively high-risk firms. In Korean economy, the portion of trade credits is also quite high in short-term financing among bank revolving line, commercial paper, and trade credit. 2 Since c ...
... countries such as USA and Western European countries, trade credits are prevailingly used while they service relatively high-risk firms. In Korean economy, the portion of trade credits is also quite high in short-term financing among bank revolving line, commercial paper, and trade credit. 2 Since c ...
Report by the Committee on Comprehensive Financial Services for
... Mr. Vishnu Prasad, Dr. Santadarshan Sadhu, and Mr. Anand Sahasranaman who not only provided very useful research and technical support but also worked unstintingly to ensure that this report was completed in such a short span of time. Finally, the Committee would like to thank all institutions and m ...
... Mr. Vishnu Prasad, Dr. Santadarshan Sadhu, and Mr. Anand Sahasranaman who not only provided very useful research and technical support but also worked unstintingly to ensure that this report was completed in such a short span of time. Finally, the Committee would like to thank all institutions and m ...
PSS and CSS Long Term Cost Report 2002
... of inflation we believe that a real yield of 3.5% per annum (6% per annum nominal) is appropriate. The real investment return derived from our methodology is consistent with that used at the previous investigation. ...
... of inflation we believe that a real yield of 3.5% per annum (6% per annum nominal) is appropriate. The real investment return derived from our methodology is consistent with that used at the previous investigation. ...
2013 Annual Report - Investor Relations Solutions
... after the fiscal year ended. I’m enthusiastic about Kelsen because it gives us a position in baked snacks in China and Hong Kong and expands our presence in new geographies. It also offers potential routes to expand our Arnott’s and Pepperidge Farm brands in China and around the world. ...
... after the fiscal year ended. I’m enthusiastic about Kelsen because it gives us a position in baked snacks in China and Hong Kong and expands our presence in new geographies. It also offers potential routes to expand our Arnott’s and Pepperidge Farm brands in China and around the world. ...
2016-2017 Canada Lands Company Limited Quarterly Financial
... The corporation’s inventories comprise properties held for future development of $156.5 (March 31, 2016 - $155.1), properties under development of $223.3 (March 31, 2016 - $162.7) and properties held for sale of $3.3 (March 31, 2016 - $6.9). Inventory is recorded at the lower of cost and net realiza ...
... The corporation’s inventories comprise properties held for future development of $156.5 (March 31, 2016 - $155.1), properties under development of $223.3 (March 31, 2016 - $162.7) and properties held for sale of $3.3 (March 31, 2016 - $6.9). Inventory is recorded at the lower of cost and net realiza ...
