There is a choice of books on securitization, collateralized debt obligations
(CDOs), and structured credit products. In fact, both of
us have written other books on the subject. This book, however, was
conceived as a short, handy and easy-to-comprehend guide to securitization,
minus technical details. The idea originated while both of
us were working on a comprehensive article on securitization: One
which says it all in a limited space and serves as a curtain-raiser
on the subject.
The income-generating assets of a company are pooled separately from its balance sheet into a special-purpose vehicle (SPV), and the SPV issues a security backed by the cash flow to be generated by such assets and sells the security to investors. This method is called "securitization." And the security issed through such a proces is generally called a "securitized product." Business enterprises use their assets- such as auto loans, mortgage loans, lease receivables, business loans, and commerical real astate- as collateral to back up their securitized products.
An important feature in many countries is the role of securitization in the lending and housing
prices boom and burst. At the macroeconomic level, the dynamics of the relationship between
lending, housing prices and securitization have been largely unexplored although a rising
interest has recently emerged with the financial crisis.
This book is a desktop quick reference for the Java 2 Micro Edition (J2ME ). It is intended for Java programmers writing applications for devices with limited memory resources and processor power, such as cell...
Databases represent the core of an organization's informational infrastructure. To effectively maintain those databases, it is imperative for administrators to be well trained. In this hands-on course, you gain the knowledge and skills to create and configure Oracle 10g databases, manage memory and storage effectively, and deploy essential procedures to maintain your organization's database and ensure its availability.
Bắt đầu từ những công ty cho vay bất động sản trực tiếp (mortgage
originators), người dân đi vay mua nhà được phân loại thành dưới
chuẩn (subprime), cận chuẩn (Alt-A), chuẩn (prime), và được nhà nước
bảo đảm (ví dụ được Fannie Mae hay Freddie Mac bảo đảm). Trong số
này, các khoản vay dưới chuẩn (subprime) chỉ chiếm 600 tỷ trong tổng
số gần 10 ngàn tỷ tín dụng bất động sản dân dụng trực tiếp.
The role of inancial executives in any business has expanded signiicantly
in recent years as companies become more accountable to their stakeholders
and regulators. Combine this increase in accountability with the
increasing sophistication of technology, risk management, inancial analysis,
and inancial records processing, and we see that the responsibilities of
inancial executives in any organization have expanded signiicantly.
our goal with The Complete CFO Handbook is to provide inancial
executives with the background and tools for managing a company’s inancial
The money market is traditionally defined as the market for financial
assets that have original maturities of one year or less. In essence, it is
the market for short-term debt instruments. Financial assets traded in
this market include such instruments as U.S. Treasury bills, commercial
paper, some medium-term notes, bankers acceptances, federal agency
discount paper, most certificates of deposit, repurchase agreements,
floating-rate agreements, and federal funds.
Nhân tố quyết định chất lượng của chứng khoán phát hành là khả năng sinh lời của các tài sản dùng làm tài sản đảm bảo, chứ không phải là nhà phát hành. Kết quả của quá trình chứng khoán hóa là các tài sản có tính thanh khoản kém thành chứng khoán - một loại hàng hóa được giao dịch trên thị trường vốn.
The balance sheets of life and non-life insurance companies reflect the importance of
technical (insurance underwriting) risks for insurance firms. Life insurance companies
typically have the greater part of their liabilities taken up by technical provisions, in some
jurisdictions more than 80 percent. This reflects the amount that the firm is setting aside to
pay potential claims on the policies that it has written. Correspondingly, more than 90 percent
of the assets of life insurance companies comprise the investment portfolio held to support
Several filers cited subjects for providing misleading information about real estate
securities or securitized commercial mortgages. One filer cited a former Chief
Executive Officer (CEO) for failing to disclose investment risks in certain CDOs,
CMOs and trust preferred securities. The CEO had managed the investment
portfolio, supposedly with a “very high” rate of return, and received large bonus
payments. Later, the filer determined the CEO had misled bank management about
Chứng khoán Danh mục đầu tư hỗn hợp / Sukuk Các ngân hàng có thể securitize một hồ bơi của Musharakah, Ijarah và một số Murabaha, Salam, Istisna'a, và Ju'alah (một hợp đồng để thực hiện một nhiệm vụ nhất định
TRAITEMENT MEDICAMENTEUX DU DIABETE DE TYPE 2 (ACTUALISATION): AL’ordonnance n° 96-345 du 24 avril 1996 relative à la maîtrise médicalisée des
dépenses de santé a confié à l’Agence française de sécurité sanitaire des produits de
santé (Afssaps) la mission d’établir les références médicales et les recommandations de
bonne pratique concernant le médicament. Elle stipule également que les références et
recommandations de bonne pratique existantes doivent être régulièrement actualisées,
en fonction des données nouvelles de la science.
Uninsured low-income childless adults are a diverse group that includes men and women living in all
parts of Wisconsin. About half of these adults are working full time or are self-employed, working full
time. Over half have not had a checkup during the past two years. Twenty-two percent of low-income
uninsured childless adults have a chronic condition; that is, have been diagnosed as having arthritis, heart
disease, diabetes, cancer, or a stroke.
Cet ouvrage présente les travaux du groupe d’experts réunis par l’INSERM pour répondre aux questions posées par l’Institut national de recherche et de sécurité (INRS) concernant les liens éventuels entre susceptibilités génétiques et expositions professionnelles. Il s’appuie sur les données scientiﬁques en date du premier semestre 2000. Environ 300 articles ont constitué la base documentaire de cette expertise.
This is a print on demand edition of a hard to find publication. The financial crisis of 2007-09 highlighted the changing role of financial institutions and the growing importance of the żshadow banking system,ż which grew out of the securitization of assets and the integration of banking with capital market developments. In a market-based financial system, banking and capital market developments are inseparable, and funding conditions are tied closely to fluctuations in the leverage of market-based financial intermediaries.
This paper reviews these issues and discusses policies that can help further develop India’s
debt market. Section II highlights and compares market development and outlook to emerging
East Asian economies. Sections III and IV summarize salient characteristics, reforms and
obstacles. Section V discusses the development and prospects for India’s securitization market.
Section VI looks at the main market participants and the depth of the pool of available investors,
arguably the most significant factor in market development. Section VII tackles policy issues.
Securitized instruments are rapidly growing, albeit from a very low base. The most active
instrument is the FIDC (Asset Backed Securities), used to securitize a variety of assets
including trade receivables and loans, as well as expected revenues in infrastructure projects.
CRIs (Mortgage Backed Securities) are used to securitize mainly loans related to sale of real
estate. This product has been one of the fastest growing instruments in Brazil.
Ngân hàng 2 có thể securitize vào ngày 1 vay của ngân hàng 1 và có được V21 (ρ1) nếu nó cần phải đáp ứng sốc thanh khoản riêng của mình. Vì vậy, tổng dự trữ của ngân hàng 2 bằng L2 + V21 (ρ1), và đang nonincreasing trong ρ1.