The credit crisis

Xem 1-20 trên 81 kết quả The credit crisis
  • The recent credit crisis in the United States ushered in a new era of uncertainty. In some ways it was just another bubble in a long line of fi nancial manias. Like any other bubble, it was born out of an extended period of easy money that fueled prosperity, engendered speculation, and ended in a spectacular crash. In some very important ways, however, the lingering impacts are different than the bubbles of recent memory.

    pdf254p baobinh1311 25-09-2012 30 7   Download

  • When I first started writing about credit scores more than a decade ago, few people knew what these three-digit numbers were or how they worked. Today most people have at least a vague understanding that credit scores are important. But they often don’t realize how important—until they get turned down for a loan or an apartment, or wind up paying more interest or higher insurance premiums than they expected.

    pdf242p baobinh1311 25-09-2012 28 4   Download

  • The first time a money market fund broke the buck was in 1994, when the Denver-based Community Banker’s U.S. GovernmentMoney Market Fund reported aNAVof $0.96. It had themisfortune of owning securities that fell sharply in value during the rapid rise in interest rates that year. Because this was a small fund held by a small number of institutional shareholders, the impact was limited. It wasn’t until the credit crisis of 2008 hit that a fund broke the buck in a dramatic way. This was the Reserve Primary Fund—the first money market fund in the United States.

    pdf21p quaivatdo 18-11-2012 24 4   Download

  • It is highly likely that by augmenting the amount of funding available to banks, securitization activity had a significant and positive impact on credit growth during the years prior to the credit crisis (Loutskina and Strahan, 2009, Altunbas et al., 2009). In a number of countries experiencing a period credit growth, securitization activity probably strengthened the feedback effect between increases in housing prices and the credit expansion.

    pdf31p enterroi 01-02-2013 21 4   Download

  • The current financial crisis occurred after a long and remarkable period of growth and innovation in our financial markets. New financial instruments allowed credit risks to be spread widely, enabling investors to diversify their portfolios in new ways and enabling banks to shed exposures that had once stayed on their balance sheets. Through securitization, mortgages and other loans could be aggregated with similar loans and sold in tranches to a large and diverse pool of new investors with different risk preferences.

    pdf64p mebachano 01-02-2013 25 3   Download

  • This event is most important for the Social Network of Latin America and the Caribbean. The network has allowed La Red Social to cooperate among various countries in the struggle against poverty. It recently also completed an important study of the potentials and the limitations of social funds. Social funds, created as instruments of the social policy pursued by each country, were designed to mobilize resources rapidly for the financing of social action programs.

    pdf32p thangbienthai 22-11-2012 21 2   Download

  • If you are not currently a citizen of the United States or lawfully within the country, you are still allowed to access civil courts to petition for protective relief. Every abused person, regardless of citizenship, is entitled to apply for a protection order. Non-citizens should consult an attorney knowledgeable in immigration law before seeking a protection order from the courts. Legal issues related to immigration status may arise during issuance or enforcement.

    pdf6p enter1cai 12-01-2013 14 1   Download

  • On September 15, 2008, Lehman Brothers, the fourth-largest U.S. investment bank, filed for bankruptcy, marking the largest bankruptcy in U.S. history and the burst of the U.S. subprime mortgage crisis. Concerns about the soundness of U.S. credit and financial markets led to tightened global credit markets around the world. Spreads skyrocketed. International trade plummeted by double digits, as figure O.1 illustrates. Banks reportedly could not meet customer demand to finance international trade operations, leaving a trade finance “gap” estimated at around $25 billion.

    pdf432p baobinh1311 25-09-2012 51 21   Download

  • The authors study the effect of financial crises on trade credit in a sample of 890 firms in six emerging economies. They find that although provision of trade credit increases right after the crisis, it consequently collapses in the following months and years. The authors observe that firms with weaker financial position (for example, high pre-crisis level of short-term debt and low cash stocks and cash flows) are more likely to reduce trade credit provided to their customers.

    pdf383p quatet 08-01-2013 23 8   Download

  • This paper considers the main elements of the standard pattern of fi nancial liberalization that has become widely prevalent in developing countries. The theoretical arguments in favour of such liberalization are considered and critiqued, and the political economy of such measures is discussed. The problems for developing countries, with respect to fi nancial fragility and the greater propensity to crisis, as well as the negative defl ationary and developmental effects, are discussed.

    pdf31p thuytinh_den 11-07-2010 73 6   Download

  • The economies of different countries have been affected with different degrees of intensity according to their exposure to some of the main drivers of the financial crisis. 1 Securitization, which has been largely blamed as one of the main contributors to the financial meltdown, is an important example in place. While in some countries, securitization played a very large role, in other nations the resort to activities in these markets was insignificant from a macroeconomic perspective.

    pdf30p enterroi 01-02-2013 21 4   Download

  • Given the unprecedented—by recent standards—financial crisis that has devastated the world financial system and extended its reach into a number of other sectors, political risk insurance has become even more relevant. At the same time, questions remain as to whether PRI really covers those risks that investors need covered the most.

    pdf663p enterroi 02-02-2013 28 6   Download

  • In recent years, Japan’s major corporations have increasingly relied on the corporate bond market as a source of debt finance. From 1996 to 1998, the issuance of corporate bonds increased more than 46 percent, from 30.8 trillion yen to about 45 trillion yen (Table 1).1 At the same time, loans from Japan’s banking sector decreased about 17 trillion yen. As the corporate bond market grew, the spreads between the yields on Japanese corporate and government bonds widened dramatically.

    pdf6p taisaocothedung 12-01-2013 23 3   Download

  • While the magnitude of differences in credit scores was very substantial, the impact of credit scores on pricing and availability varies among companies and is not directly examined in this study. The impact of scores on premium levels will be directly addressed in studies expected to be completed by late 2004. Missouri statue prohibits sole reliance on credit scoring to determine whether to issue a policy. However, there are no limits on price increases that can be imposed due to credit scores, so...

    pdf57p enterroi 01-02-2013 24 3   Download

  • Our study constitutes a basis for further analyses of the equilibrium level of credit in the economy and investigations of ¯nancial stability. In order to prove this, we note that the econometric analysis in this article have been replicated and extended by Serwa (2011) to build a model identifying both normal and boom regimes in the credit market. In turn, Rubaszek (2011) have calibrated a version of the model including housing to data on the banking sector in Poland. His results suggest that incorporating housing in the model signi¯cantly increases the volume of credit in the economy. ...

    pdf64p enterroi 01-02-2013 28 3   Download

  • The crisis has shown that securitization is heavily dependent on markets’ perceptions and could be subject to sudden bouts of illiquidity generated from investors’ concerns. Namely the consequences of the increased participation in bank funding by financial markets’ investors and the large increases in securitized assets, can led to acute liquidity crises.

    pdf0p enterroi 01-02-2013 16 3   Download

  • 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.

    pdf44p enterroi 01-02-2013 12 3   Download

  • In the United States, insurance regulators require bonds and preferred stocks to be reported in statutory financial statements in one of six National Association of Insurance Commissioners (NAIC) designations categories that denote credit quality. If an accepted rating organisation (ARO) has rated the security, the security is not required to be filed with the NAIC’s Securities Valuation Office (SVO). Rather, the ARO rating is used to map the security to one of the six NAIC designation categories.

    pdf58p enterroi 01-02-2013 22 3   Download

  • This paper makes a case that the global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both have their origins in economic policies followed in a number of countries in the 2000s and in distortions that influenced the transmission of these policies through U.S. and ultimately through global financial markets. In the U.S., the interaction among the Fed’s monetary stance, global real interest rates, credit market distortions, and financial innovation created the toxic mix of conditions making the U.S.

    pdf70p mebachano 01-02-2013 21 3   Download

  • Two features stand out. First, leverage is procyclical. Leverage increases when balance sheets expand. Conversely, leverage falls when balance sheets contract. Thus, leverage tracks the waxing and waning of balance sheets in a way that amplifi es the fi nancial cycle. Although “procyclical leverage” is not a term that the banks themselves would use in describing how they behave, this is in fact what they are doing. Second, there is a striking contrast between the distress in 1998Q4 associated with the LTCM crisis and the credit crisis of the summer of 2007.

    pdf20p doipassword 01-02-2013 27 3   Download

CHỦ ĐỀ BẠN MUỐN TÌM

Đồng bộ tài khoản