Xem 1-20 trên 55 kết quả Excess interest
  • A final way banks raise funds in the money market is through repurchase agreements (RPs). An RP is a sale of securities with a simultaneous agreement by the seller to repurchase them at a later date. (For the lender—that is, the buyer of the securities in such a transaction—the agreement is often called a reverse RP.) In effect this agreement (when properly executed) is a short-term collateralized loan. Most RPs involve U.S. government securities or securities issued by government-sponsored enterprises. Banks are active participants on the borrowing side of the RP market. ...

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  • Laws designed to prevent usury, or the taking of "excessive" interest, have long been the subject of controversy. While advocates of usury ceilings claim that such controls protect consumers from abusive lending practices and enable them to obtain loans at reasonable rates, their critics argue that they work to consumers' disadvantage by restricting credit flows and distorting financial markets. In economic theory, the credit market is viewed like any other market. There are buyers (borrowers) and sellers (lenders) of credit; the price of credit is the interest rate.

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  • The relationship between capital markets, investment and economic growth has been a major interest for economic decision-makers, researchers and analysts. Many countries have tried to boost economic growth through amending capital market regulations, such as phasing out restrictions on capital with the aim of encouraging foreign cash flows into their markets to boost development. Previous studies have shown that stock markets can promote economic growth by directing accumulated savings into real investments.

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  • Financial markets play a major role in allocating wealth and excess savings to productive ventures in the global economy. This extremely desirable process takes on various forms. Commercial banks solicit depositors’ funds in order to lend them out to businesses that invest in manufacturing and services or to home buyers who finance new construction or redevelopment. Investment banks bring to market offerings of equity and debt from newly formed or expanding corporations.

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  • Recent experience illustrates this point. Consider the fact that the Fed cut interest rates sharply in response to two of the most serious financial crises in recent years: the October 1987 stock market break and the turmoil following the Russian default in 1998. Arguably, in retrospect, interest rate policy remained too easy for too long in both cases.

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  • But, establishing a lower-than-market interest rate by means of a usury ceiling will also bring about a decrease in the quantity of credit supplied. Given lenders costs, the amount of credit they will provide when the interest rate is held down is limited. Like any other business, if a lender does not recoup its costs and earn an adequate return on its resources, it will put those resources to work elsewhere.

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  • Our results suggest that both monetary policy and capital inows shocks have a signicant and positive effect on house prices, credit to the private sector and residential investment. The effects of both shocks are greater in countries with a higher degree of mortgage market development, with the effect of monetary policy shocks roughly doubling. This suggests that excessive nancial innovation may act as a propagation mechanism. The existence of mortgage-backed securities has a much larger effect on the transmission of capital inows shocks.

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  • Together, the empirical facts established in this paper suggest that capital regulation and buffers may only be of second order importance in determining the capital structure of most banks. Hence, our paper sheds new light on the debate whether regulation or market forces determine banks’ capital structures. Barth et al. (2005), Berger et al. (2008) and Brewer et al. (2008) observe that the levels of bank capital are much higher than the regulatory minimum. This could be explained by banks holding capital buffers in excess of the regulatory minimum.

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  • You also have to provide for a service connection for the technical rack mentioned earlier, wherever it may be located in the cinema. Provide for a service connection of 20A single-phase. In territories, in which problems with the electric power supply occur frequently (for example local power-cuts in the mountains) or to prevent an unscheduled deletion by the server, it may be necessary to invest in an uninterruptible power supply (UPS) that maintains the electric current for...

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  • Midwifery 2020 has set out to develop an informed vision (opposite) of the contribution midwives will make to achieving quality, cost- effective maternity services for women, babies and families across the United Kingdom. Midwives, managers, members of the maternity team, educationalists, commissioners and service users considered the future direction for midwifery and this report brings together the outcomes of their deliberations. It is supported by five in-depth workstream reports that are available on the Midwifery 2020 website at www.midwifery2020.org...

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  • heir indicators of low female autonomy include relatively large age differences between husbands and wives, relatively greater breaks between a woman’s natal and affinal homes on marriage, and relatively large gender gaps in educational indicators, as well as strong indicators of son preference. 2 Much other research confirms their general conclusions.

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  • Third, federal funds borrowed have historically been distinguished from other liabilities of depository institutions because they have been exempt from both reserve requirements and interest rate ceilings. 2 The supply of and demand for federal funds arise in large part as a means of efficiently distributing reserves throughout the banking system. On any given day, individual depository institutions may be either above or below their desired reserve positions.

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  • As the Basel Committee on Banking Supervision has pointed out, it has become increasingly important to look beyond the traditional earnings and economic value effects and assess indirect interest rate effects as well. Taking a broader view of the potential earnings impact of changing interest rates, banks also need to take into consideration the growing share of (interest-sensitive) fee- based fi nancial services (loan servicing, asset securitization programs, pay- ments etc.).

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  • The other extreme is “monetary dominance”. Central banks raise interest rates to avoid the inflationary effects of excessive budget deficits. Real interest rates rise across the maturity spectrum and the prospect of higher-and-higher debt service costs then forces governments to reduce their primary deficits. This seems to fit the UK story in the late 1980s and early 1990s when tighter macroeconomic policies (monetary and fiscal) brought down inflation.

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  • The run-up to the 2008 global nancial crisis was characterised by an environment of low interest rates and a rapid increase in housing market activity across OECD countries. Some scholars argue that expansionary monetary policy has been signicantly responsible for the low level of interest rates and the subsequent house price boom. Others contend that a scarcity of nancial assets led to capital inows to developed economies, depressing long rates in government bond markets and stimulating an increase in demand for housing.

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  • A number of OECD countries experienced an environment of low interest rates and a rapid increase in housing market activity during the last decade. Previous work suggests three potential explanations for these events: expansionary monetary policy, capital inflows due to a global savings glut and excessive financial innovation combined with inappropriately lax financial regulation. In this study we examine the effects of these three factors on the housing market.

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  • Many home computer users currently connect to the Inter- net through dial-up, ADSL, cable or other services that as- sign them new IP addresses constantly — anywhere from every couple of hours to every couple of days. This af- fects our estimation of number of hosts involved in each spam campaign. We correct this by estimating how “dy- namic” each IP address is, and compensate by “merging” some dynamic IP addresses with other IP addresses in the same spam campaign. The problem of IP dynamics was rst presented and studied in [18].

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  • First, you need the practice of developing a model. Even if you end up reproducing exactly something that is in the literature already you will have learned a lot by doing it|and you can feel awfully good about yourself for developing a publishable idea! (Even if you didn't get to publish it yourself : : : ) Second, you might come up with a di erent approach than is found in the literature. If you look at what someone else did your thoughts will be shaped too much by their views|you are much more likely to be original if you plunge right in and try to develop your...

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  • The second way guarantees a realistic motion by using physical laws, especially dynamic simulation. The problem with this type of animation is controlling the motion produced by simulating the physical laws which govern motion in the real world. The animator should provide physical data corresponding to the complete definition of a motion. The motion is obtained by the dynamic equations of motion relating the forces, torques, constraints and the mass distribution of objects. As trajectories and...

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  • We study weekly portfolio returns from 23 developed markets. We choose to study returns at a weekly frequency to avoid the problems caused by nonsyn- chronous trading around the world at higher frequencies. All returns are U.S. dollar denominated, and we calculate excess returns by subtracting the U.S. weekly T-bill rate, which is obtained from the Center for Research in Security Prices (CRSP) riskfree file. 1 Our selection of developed countries matches the countries currently in the Morgan Stanley Developed Country Index. Data for the United States are from Compustat and CRSP.

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