Do unitranches work?
... n the last five years, lenders in the midmarket have experienced stiff competition from a relatively new form of financing commonly referred to as “unitranche”. A typical unitranche (although they can come in many different forms) is evidenced by a single loan agreement, with one loan, one rate and ...
... n the last five years, lenders in the midmarket have experienced stiff competition from a relatively new form of financing commonly referred to as “unitranche”. A typical unitranche (although they can come in many different forms) is evidenced by a single loan agreement, with one loan, one rate and ...
The State of Financial Guaranty Insurance
... • With all of these different asset-backed securities trading on the market, and profits soaring for the main players in these transactions, most people thought that the housing market would continue to boom. • However, this was not the case. By the middle of 2006 home sales stalled and the value of ...
... • With all of these different asset-backed securities trading on the market, and profits soaring for the main players in these transactions, most people thought that the housing market would continue to boom. • However, this was not the case. By the middle of 2006 home sales stalled and the value of ...
To view this press release as a Word document
... increased by only 0.6 percent, following increases in the middle of 2013. The Composite State of the Economy Index increased in March by 0.1 percent, a lower increase than that in recent months. The Climate Index, based on the Business Tendency Survey of the Central Bureau of Statistics, reflects a ...
... increased by only 0.6 percent, following increases in the middle of 2013. The Composite State of the Economy Index increased in March by 0.1 percent, a lower increase than that in recent months. The Climate Index, based on the Business Tendency Survey of the Central Bureau of Statistics, reflects a ...
investment banking outline
... a. limited retail deposits so purchased on money mrkt by selling CD’s or borrowing from fed b. bankruptcy of another bank to which it had made loans, dried up US retail deposits c. replaced deposits from Euromrkt - more expensive d. nonperforming loans e. bailed out by FDIC but shareholders lost out ...
... a. limited retail deposits so purchased on money mrkt by selling CD’s or borrowing from fed b. bankruptcy of another bank to which it had made loans, dried up US retail deposits c. replaced deposits from Euromrkt - more expensive d. nonperforming loans e. bailed out by FDIC but shareholders lost out ...
Sample Chapter
... each year. Other so-called floating-rate bonds promise payments that depend on current interest rates. For example, a bond may pay an interest rate that is fixed at 2 percentage points above the rate paid on U.S. Treasury bills. Unless the borrower is declared bankrupt, the payments on these securit ...
... each year. Other so-called floating-rate bonds promise payments that depend on current interest rates. For example, a bond may pay an interest rate that is fixed at 2 percentage points above the rate paid on U.S. Treasury bills. Unless the borrower is declared bankrupt, the payments on these securit ...
CDS Spread Determinants
... From table 2 to table 6, we have the same table format, In Panel A is for level data and Panel B is for difference data. From table 2 to table 6, Regressions for level data has higher explanatory power over regressions based on difference data. First, we find that the coefficients on leverage are si ...
... From table 2 to table 6, we have the same table format, In Panel A is for level data and Panel B is for difference data. From table 2 to table 6, Regressions for level data has higher explanatory power over regressions based on difference data. First, we find that the coefficients on leverage are si ...
EUROPEAN COMMISSION Brussels, 22.2.2017 SWD(2017) 76 final
... Improving economic conditions and low interest rates are expected to support credit demand. Combined with the improving quality of banks' assets, this is set to result in mildly positive net credit flows. However, the nonperforming loans ratio remains high in comparison to other Member States. The n ...
... Improving economic conditions and low interest rates are expected to support credit demand. Combined with the improving quality of banks' assets, this is set to result in mildly positive net credit flows. However, the nonperforming loans ratio remains high in comparison to other Member States. The n ...
notes 2nd midterm
... The previous discussions about asset and capital management highlight the importance of managing credit risk (or default risk) for banks. As loans are the primary asset for commercial banks, the problems of adverse selection and moral hazard come into play. A bank must deal with these problems in or ...
... The previous discussions about asset and capital management highlight the importance of managing credit risk (or default risk) for banks. As loans are the primary asset for commercial banks, the problems of adverse selection and moral hazard come into play. A bank must deal with these problems in or ...
JPM Cazenove Conference Title Slide “Building the New Economy
... we have only a small global market share: we are ranked 15th globally for fund management, but aspirations are for top five as the industry continues to consolidate and globalise over the next few years. In retail protection, the disruption was to automate – 85% of all business is straight-through p ...
... we have only a small global market share: we are ranked 15th globally for fund management, but aspirations are for top five as the industry continues to consolidate and globalise over the next few years. In retail protection, the disruption was to automate – 85% of all business is straight-through p ...
The Rise and Fall of Subprime Mortgages
... Monitoring housing today entails tracking an array of mortgage products. In the past few years, a fastgrowing market seized upon such arrangements as “option ARMs,” “nodoc interest-onlys” and “zero-downs with a piggyback.” For our purposes, it’s sufficient to distinguish among prime, jumbo, subprime ...
... Monitoring housing today entails tracking an array of mortgage products. In the past few years, a fastgrowing market seized upon such arrangements as “option ARMs,” “nodoc interest-onlys” and “zero-downs with a piggyback.” For our purposes, it’s sufficient to distinguish among prime, jumbo, subprime ...
Overview of Credit Policy and Loan Characteristics
... Legal document through which a borrower gives a lender a lien on real property as collateral against a debt ...
... Legal document through which a borrower gives a lender a lien on real property as collateral against a debt ...
reserve base lending and the outlook for shale oil and gas finance
... real catalyst of the shale revolution was thus the 2008 financial crisis and the era of unprecedentedly low interest rates it ushered in, driven by the US Federal Reserve Bank’s monetary policy. American entrepreneurship, coupled with low-cost debt, created the conditions for a surge in production t ...
... real catalyst of the shale revolution was thus the 2008 financial crisis and the era of unprecedentedly low interest rates it ushered in, driven by the US Federal Reserve Bank’s monetary policy. American entrepreneurship, coupled with low-cost debt, created the conditions for a surge in production t ...
Week 11 Slides
... due until Monday, November 18 Begin analysis of international sources of capital and review of Huaneng Power case as soon as possible for write-up and discussion on November 25 J. K. Dietrich - FBE 432 – Spring, 2002 ...
... due until Monday, November 18 Begin analysis of international sources of capital and review of Huaneng Power case as soon as possible for write-up and discussion on November 25 J. K. Dietrich - FBE 432 – Spring, 2002 ...
Italy - Marcello Minenna
... contracted by 7% from 2008 to 2016. The fiscal position of the country is negatively affected by its high public debt and the related cost of servicing it. It is therefore impressive that Italy has managed to run a primary surplus since entering the Eurozone, with the only exception being 2009. Inde ...
... contracted by 7% from 2008 to 2016. The fiscal position of the country is negatively affected by its high public debt and the related cost of servicing it. It is therefore impressive that Italy has managed to run a primary surplus since entering the Eurozone, with the only exception being 2009. Inde ...
The pari passu clause in sovereign debt instruments
... ("Pari passu clauses are usually not included in domestic U.S. debt instruments because the general parity of unsecured debt obligations, absent statutory priorities or the exercise of a court's equitable powers of subordination, is well established by law. Indeed, it is so established that the pros ...
... ("Pari passu clauses are usually not included in domestic U.S. debt instruments because the general parity of unsecured debt obligations, absent statutory priorities or the exercise of a court's equitable powers of subordination, is well established by law. Indeed, it is so established that the pros ...
Eggertsson and Woodford (2003) - notes
... representative-household model, because in equilibrium the representative household must hold the entire net supply of financial claims on the government. As long as the fiscal rule (equation 16) implies positive government liabilities at each date, any borrowing limits that might be assumed can nev ...
... representative-household model, because in equilibrium the representative household must hold the entire net supply of financial claims on the government. As long as the fiscal rule (equation 16) implies positive government liabilities at each date, any borrowing limits that might be assumed can nev ...
Demonetisation: Impact on the Economy
... There are likely to be two spin-offs from this change – one, there would be some increase in tax collections in the short term, and second; various IOUs could emerge as currency substitutes. To the extent people attempt to get rid of unaccounted cash balances through purchase of goods and services a ...
... There are likely to be two spin-offs from this change – one, there would be some increase in tax collections in the short term, and second; various IOUs could emerge as currency substitutes. To the extent people attempt to get rid of unaccounted cash balances through purchase of goods and services a ...
The “Mystery of the Printing Press” Monetary Policy and Self
... the government in all circumstances, at the cost of high in‡ation. The gist of our argument is most easily understood referring to a situation in which the relevant (risk-free) nominal interest rate is at its lower bound. In this case, the central bank would be able to issue …at money at will to buy ...
... the government in all circumstances, at the cost of high in‡ation. The gist of our argument is most easily understood referring to a situation in which the relevant (risk-free) nominal interest rate is at its lower bound. In this case, the central bank would be able to issue …at money at will to buy ...
- SlideBoom
... 22. M&M Proposition 1: Dynamo Corp. produces annual cash flows of $150 and is expected to exist forever. The company is currently financed with 75 percent equity and 25 percent debt. Your analysis tells you that the appropriate discount rates are 10 percent for the cash flows, and 7 percent for the ...
... 22. M&M Proposition 1: Dynamo Corp. produces annual cash flows of $150 and is expected to exist forever. The company is currently financed with 75 percent equity and 25 percent debt. Your analysis tells you that the appropriate discount rates are 10 percent for the cash flows, and 7 percent for the ...