Hedging with Interest-Rate Forward Contracts
... several ways that overcome some of the liquidity and default problems of forward markets. To understand what financial futures contracts are all about, let’s look at one of the most widely traded futures contracts—that for Treasury bonds, which are traded on the Chicago Board of Trade. The contract ...
... several ways that overcome some of the liquidity and default problems of forward markets. To understand what financial futures contracts are all about, let’s look at one of the most widely traded futures contracts—that for Treasury bonds, which are traded on the Chicago Board of Trade. The contract ...
A Causal Framework for Credit Default Theory
... delinquency nor insolvency alone is sufficient to cause a credit default. Both delinquency and insolvency are necessary and sufficient for credit default. In reality a credit default event for a secured loan is a sequence of two temporally separated events: a delinquency event followed by an insolve ...
... delinquency nor insolvency alone is sufficient to cause a credit default. Both delinquency and insolvency are necessary and sufficient for credit default. In reality a credit default event for a secured loan is a sequence of two temporally separated events: a delinquency event followed by an insolve ...
Pawn Financing: One of Viable Financing Channels For SMEs in China
... overlooked by economists for a long time. There have been no studies of pawnbroking in North America using data from past fifty years3. Prior to that, the best studies were William Patterson’s(1899a and 1899b)comparative study of American and European pawnshops. Samuel Levine’s(1913) extensive descr ...
... overlooked by economists for a long time. There have been no studies of pawnbroking in North America using data from past fifty years3. Prior to that, the best studies were William Patterson’s(1899a and 1899b)comparative study of American and European pawnshops. Samuel Levine’s(1913) extensive descr ...
2011 Annual Report (Opens in a new Window)
... economy since the Great Depression. Unemployment increased to 10.2%, its highest level since 1983 – reflecting the loss of 8.5 million jobs. The housing market continued to weaken throughout the United States, with unit sales declining and values dropping up to 50% in certain markets. Small business ...
... economy since the Great Depression. Unemployment increased to 10.2%, its highest level since 1983 – reflecting the loss of 8.5 million jobs. The housing market continued to weaken throughout the United States, with unit sales declining and values dropping up to 50% in certain markets. Small business ...
International Capital Flows and U.S. Interest Rates Francis E. Warnock
... estimates in our regressions, but because the flows are smaller, the overall impact is more muted. For example, had foreign official flows been zero over the last twelve months, long rates would currently be 60 basis points higher.5 Our results are robust to many alternative specifications. In robu ...
... estimates in our regressions, but because the flows are smaller, the overall impact is more muted. For example, had foreign official flows been zero over the last twelve months, long rates would currently be 60 basis points higher.5 Our results are robust to many alternative specifications. In robu ...
united states securities and exchange commission
... Certain statements contained in this Form 10-Q and other written or oral statements made by or on behalf of Piedmont Office Realty Trust, Inc. (“Piedmont”) may constitute forward-looking statements within the meaning of the federal securities laws. In addition, Piedmont, or its executive officers on ...
... Certain statements contained in this Form 10-Q and other written or oral statements made by or on behalf of Piedmont Office Realty Trust, Inc. (“Piedmont”) may constitute forward-looking statements within the meaning of the federal securities laws. In addition, Piedmont, or its executive officers on ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: Housing and the Financial Crisis
... But credit availability can also change endogenously in response to fluctuations in the aggregate economy and to revisions in expectations about future economic conditions, including house price growth. This information is reflected immediately in collateral values that constrain borrowing capacity. A ...
... But credit availability can also change endogenously in response to fluctuations in the aggregate economy and to revisions in expectations about future economic conditions, including house price growth. This information is reflected immediately in collateral values that constrain borrowing capacity. A ...
June 2015 - NigeriaTravelsMart
... Capital inflows into Nigeria declined by 40.63% (Q-o-Q) in Q1 to $2.67bn Nigeria’s share of global net FDI is estimated by EIU at ...
... Capital inflows into Nigeria declined by 40.63% (Q-o-Q) in Q1 to $2.67bn Nigeria’s share of global net FDI is estimated by EIU at ...
Monetary Policy, Financial Conditions, and Financial Stability
... As discussed in detail in this paper, when financial intermediation is added to these models, interest rate changes can also affect loan supply through credit market frictions, such as asymmetric information between borrowers and lenders that gives rise to an external finance premium. The size of t ...
... As discussed in detail in this paper, when financial intermediation is added to these models, interest rate changes can also affect loan supply through credit market frictions, such as asymmetric information between borrowers and lenders that gives rise to an external finance premium. The size of t ...
When are consumer loans collateralized in emerging markets
... are employed for lending activities and profit from lending accounts for a major part of bank’s total profit. Strategically these banks focus on the retail sector, i.e. lending to consumers, entrepreneurs, and SMEs. During Vietnam’s recent period of high economic growth and transformation to a marke ...
... are employed for lending activities and profit from lending accounts for a major part of bank’s total profit. Strategically these banks focus on the retail sector, i.e. lending to consumers, entrepreneurs, and SMEs. During Vietnam’s recent period of high economic growth and transformation to a marke ...
2010 FOURTH QUARTER AND FULL YEAR EARNINGS REVIEW AND 2011 OUTLOOK
... • Further strengthened balance sheet with $7.3 billion in Automotive debt reductions, including $2.5 billion of newly announced reductions, bringing the Full Year to $14.5 billion • Announced new investments to grow our business, including: – $850 million in future investments for Michigan-based eng ...
... • Further strengthened balance sheet with $7.3 billion in Automotive debt reductions, including $2.5 billion of newly announced reductions, bringing the Full Year to $14.5 billion • Announced new investments to grow our business, including: – $850 million in future investments for Michigan-based eng ...
International Debt Deleveraging Luca Fornaro This draft: November 2013 First draft: November 2012
... precautionary savings. Starting from Clarida (1990), some authors have used multi-country models with idiosyncratic shocks and incomplete markets to study international capital flows. Examples are Castro (2005), Bai and Zhang (2010) and Chang et al. (2013). This is the first paper that employs a mul ...
... precautionary savings. Starting from Clarida (1990), some authors have used multi-country models with idiosyncratic shocks and incomplete markets to study international capital flows. Examples are Castro (2005), Bai and Zhang (2010) and Chang et al. (2013). This is the first paper that employs a mul ...
interest rate and inflation risks in PFI contracts
... bidder, at (or around) Financial Close when the Unitary Charge level is finally set. So far this Application Note has considered interest-rate risk during the life of the PFI Contract. A further issue, however, is the gap in the time between bidding and Financial Close. When bidding for a PFI Contra ...
... bidder, at (or around) Financial Close when the Unitary Charge level is finally set. So far this Application Note has considered interest-rate risk during the life of the PFI Contract. A further issue, however, is the gap in the time between bidding and Financial Close. When bidding for a PFI Contra ...
Macroprudential tools, transmission and modelling
... limits require there to be sufficient information exchange between banks and/or the existence of a central credit register. Some countries have explicitly varied capital weights to allow for concerns regarding the housing market. This enables banks to choose whether or not to lend to the sector judg ...
... limits require there to be sufficient information exchange between banks and/or the existence of a central credit register. Some countries have explicitly varied capital weights to allow for concerns regarding the housing market. This enables banks to choose whether or not to lend to the sector judg ...
Central Bank Talk: Does It Matter and Why? Introduction
... probing and questioning practices in Canada and in other countries—what works and what doesn’t, what helps clarify and what might confuse, and in what ways transparency helps economies perform better. It was in this spirit that we undertook the research for this paper. Of course, the potential benef ...
... probing and questioning practices in Canada and in other countries—what works and what doesn’t, what helps clarify and what might confuse, and in what ways transparency helps economies perform better. It was in this spirit that we undertook the research for this paper. Of course, the potential benef ...
Index Growth Annuity 5 And 7
... fixed-interest insurance product with interest crediting determined in part by reference to an investment-based index, such as a Standard & Poor’s® index or a NASDAQ® index. It is important to understand that indexed products do not invest in the index used to determine the interest crediting rate; ...
... fixed-interest insurance product with interest crediting determined in part by reference to an investment-based index, such as a Standard & Poor’s® index or a NASDAQ® index. It is important to understand that indexed products do not invest in the index used to determine the interest crediting rate; ...
Shadow Fed Funds Rate
... Often results in people moving toward more safe and liquid investments. This is often referred to as the “risk off” or “flight to quality trade”. Since the beginning of 2016 many bond investors have flocked into US Treasuries, Agency MBS, and Municipal Bonds. vs. Camp # 2 The contrarians. As Warren ...
... Often results in people moving toward more safe and liquid investments. This is often referred to as the “risk off” or “flight to quality trade”. Since the beginning of 2016 many bond investors have flocked into US Treasuries, Agency MBS, and Municipal Bonds. vs. Camp # 2 The contrarians. As Warren ...
“Macroeconomics with Financial Frictions”
... productivity shock hits banks on the asset and the liability side of their balance sheets and leads to a contraction of inside money. The money multiplier collapses and “Fisher deflation” sets in (as the value of money rises). This effect is in sharp contrast to many other monetary models without a ...
... productivity shock hits banks on the asset and the liability side of their balance sheets and leads to a contraction of inside money. The money multiplier collapses and “Fisher deflation” sets in (as the value of money rises). This effect is in sharp contrast to many other monetary models without a ...