state and local tax exemption

... of some CRT products and activities challenges the ability of boards of directors and senior management to understand and evaluate the risks of these products and activities and to set appropriate ... provide liquidity and pricing efficiency to both new and established CRT instruments Many of the largest credit hedge funds have expanded into numerous product and trading areas, and are themselves ... CDO” consists of a mix of cash positions and CDS CDO managers and underwriters used synthetic exposures to meet the growing investor demand for ABS CDOs and to cater to investors’ preferences to...

Ngày tải lên: 29/03/2014, 07:20

... standards The ratings and the rating agencies issuing them have been largely exempt from established legal standards applying to traditional forms of investment advice in the United States and ... regulators and market participants at the time when he said, “The rating system goes hand in hand with the development of large liquid, deep and international markets It is a precondition and a tool ... for new competitors) and to comply with certain requirements These include periodic reporting on activities and the public disclosure of information on internal standards and policies as well...

Ngày tải lên: 15/03/2014, 04:20

... Intal and Llanto (1998) Chan-Lau and Chen (1998) Chan-Lau and Chen (1998) Chan-Lau and Chen (1998) Hagen and Ho (2008) Hagen and Ho (2008) Hagen and Ho (2008) Glick and Hutchison (2001) Glick and ... Christiano, Motto, and Rostagno (2008), Freixas and Rochet (2008), Goodhart, Sunirand, and Tsomocos (2004), Goodhart, Sunirand, and Tsomocos (2005) and de Walque, Pierrard, and Rouabah (2009), ... country linkages and international business cycle synchronization, see for example Forbes and Chinn (2004), Imbs (2004), Baxter and Kouparitsas (2005) and Kose and Yi (2006) Baxter and Kouparitsas...

Ngày tải lên: 15/03/2014, 07:20

... default and rating grades definitely exists, and it has been the subject of several studies (Cantor and Falkenstein (2001), Blochwitz and Hohl (2001), Tiomo (2004), Jafry and Schuermann (2004) and ... obligor defaults) and the value otherwise (i.e no default) The variables X and ε i are normally distributed random variables with a mean of zero and a standard deviation of one (and as a consequence ... proposed in literature (e.g Gordy (1998), Nagpal and Bahar (2001), Servigny and Renault (2002), Blochwitz, When and Hohl (2003, 2005) and Hamerle, Liebig and Rösch (2003)) They all point to the difficulties...

Ngày tải lên: 22/03/2014, 20:20

Ngày tải lên: 20/07/2014, 09:46

... their models and for rating committee actions and decisions and they did not always document significant participants in the ratings process; This is a report of the Commission’s Staff and does ... market and the compensation they receive from issuers and underwriters The examinations also included a review of whether the examined rating agencies had policies and procedures to detect and address ... including senior and mid-level managers, initial ratings analysts and surveillance analysts, internal compliance personnel and auditors, personnel responsible for building, maintaining and upgrading...

Ngày tải lên: 06/03/2014, 08:20

... Securities and Markets Authority is put to an end, that complete and correct information which the European Securities and Markets Authority has requested is supplied and that credit rating agencies and ... too burdensome and disproportionate in view of the nature, scale and complexity of its business and the nature and range of its issuing of credit ratings An application for those exemptions shall ... Regulation …/…17 and the European Insurance and Pensions Authority established by Regulation …/…18 and shall consult those Authorities before issuing guidance and proposing draft technical standards referred...

Ngày tải lên: 15/03/2014, 07:20

... Securities and Exchange Commission created a new category—“nationally recognized statistical rating organization” (NRSRO) and immediately grandfathered Moody’s, Standard & Poor’s, and Fitch into ... There’s the United States, and there’s Moody’s Bond Rating Service The United States can destroy you by dropping bombs, and Moody’s can destroy you by downgrading your bonds And believe me, it’s ... roughly 150 local and international credit rating agencies worldwide (Basel Committee on Banking Supervision, 2000; Langohr and Langohr, 2008, p 384), Moody’s, Standard & Poor’s, and Fitch are...

Ngày tải lên: 06/03/2014, 04:21

... Asset exemptions appeared as early as the 1790s, when Virginia and other southern states adopted them to protect local landowners from their northern creditors Exemptions became more widespread and ... debtors move to a state with a higher homestead exemption and file for bankruptcy within two years, they must now use their old state s homestead exemption If debtors purchase a home and then file for ... $600 $1,600 $1,800–$2,800 plus the cost of educational mandates and tax preparation $2,700–$3,700 plus the cost of educational mandates and tax preparation Bankruptcy punishment repeat filing not...

Ngày tải lên: 06/03/2014, 04:21

... Bulgaria, Estonia, and Lithuania; horizontal exchange rate bands in Hungary and Slovenia; fixed exchange rates in Latvia, Macedonia, and Ukraine; crawling bands in Belarus and Romania; and tightly managed ... estate market developments.1 _ On the specifics of real estate markets and related measurement issues, see Hilbers, Lei, and Zacho (2001), Sundararajan and others (2002), and ... “sleeping beauties” (Albania and Romania, and lately the Czech and Slovak Republics) seem to have woken up, while in “late risers” (Bosnia and Herzegovina, Serbia and Montenegro, and Lithuania), real...

Ngày tải lên: 06/03/2014, 08:20

... Qian (1994), Dewatripont and Maskin (1995), Earle and alii (1996), Earle and alii (1997), Berglửf and Roland (1998), Bai and Wang (1998) For an analysis of the shortcomings and measurement errors ... as those which have a positive ex ante demand; on the other hand, those who not demand credit not receive any, and were generally not indebted beforehand In other words, credit distribution appears ... latter cases Variables describe on the one hand the present state and recent performances of enterprises, as reflected by their own judgement; on the other hand, they give indications on their expectations...

Ngày tải lên: 06/03/2014, 08:20

... structure This on the one hand confirms the study of Nickel et al (2002) , Bangia et al (2002), and McNeil and Wendin (2005) and on the other hand extends the models of McNeil and Wendin (2005) In ... confirms and particularly extends the results of Crowder, Daris and Giampierin (2004) with respect to their postulation that the process is driven by just two states, a risky state and non-risky state ... hidden states and the inherent serial correlation Due to the second hidden state, the main diagonal shows lower probabilities than the matrix for hidden state one (P1) and for hidden state three...

Ngày tải lên: 04/10/2015, 10:25

... Understand Political Landscape  Types of Political Environments • Minimally Politicized Arena – power possessed by those  who are truthful and demonstrate regard for their own  outcomes and those of others ... an undesirable action plan Rule #11: Don’t Play Same Hand Twice  Develop extensive command of  negotiation strategies or a repertoire of  strategies and tactics  Don’t utilize the same tactic/strategy  ... Those using more competitive strategies as  demands or threats fail to achieve optimum  outcomes  Veiled threat – subtle and deniable • • • • Use statements Questions Hypothetical scenario Utilize to redirect discussion or prompt reconsideration of ...

Ngày tải lên: 22/08/2012, 22:07

... business and liquidity, and of short-term developments of demand and supply in the specific sectors and markets where enterprises operate Investment financial institutions, on the other hand, develop ... key players in recapitalization of banks; in Poland and Hungary foreign banks brought much needed know-how and capital; and in Argentina and New Zealand, foreign banks also brought fresh capital ... entry and sanctioning criteria, and ban discriminatory and unfair practices Government should also ensure that SRO rules and operations are not detrimental to small participants and consumers, and...

Ngày tải lên: 24/10/2012, 09:33

... Thi Thanh Xuan - Standing member • Mr Hoang Dang Doanh - Standing member • Mr Do Xuan Quang - Standing member • Mr Nguyen Giang Tien - Standing member 2.1.3 Statues and Standard Trading Conditions ... as local and foreign freight forwarding enterprises As a result, many container ports and airports have been taken into long-term investment projects and development programs In addition, land ... improve the transaction standards and the quality of business activities for enhancing the efficiency of export and import activities, expanding the external economic relations and co-operate with...

Ngày tải lên: 27/10/2012, 16:42

... Seroprevalence of Toxoplasma gondii infection and risk factors associated with seropositivity of pregnant women in Korea J Parasitol 2008; 94: 963-965 Grant S and Olsen CW Preventing zoonotic diseases ... and Olsen CW Preventing zoonotic diseases in immunocompromised persons: the role of physicians and veterinarians Emerg Infect Dis 1999; 5: 159-163 http://www.medsci.org ...

Ngày tải lên: 03/11/2012, 11:06

... discussions and activities of their education and economy This involves the teaching of local languages, Setswana and English By involving the local languages the program would not only reach the poor and ... language to influence and persuade those who have power and also because their languages, experiences and knowledge are down played in the new policies and technologies Conclusion and recommendations ... adult education program can thus harness the local languages and indigenous knowledge of the minority and poor people and use them to mobilize the poor and minorities who are struggling for the...

Ngày tải lên: 05/11/2012, 16:27

... use the card within demand deposit account balance and/ or overdraft for payments of merchandises or services or for cash withdrawal/advance and other services at ATM/EDC and other cash disbursement ... use the card within demand deposit account balance and/ or overdraft for payments of merchandises or services or 19 for cash withdrawal/advance and other services at ATM/EDC and other cash disbursement ... income and stable such as: petroleum, banking, telecommunication, aviation and private businesses increasingly make up bigger population They has high income and stable and also has needs and enough...

Ngày tải lên: 03/04/2013, 12:13

... increase in sophistication and understanding of brand equity and advertising can be largely attributed to increased consumer exposure and understanding of both ads and branding 23 In an effort to ... different brands are on the store shelves and thousands of new products are introduced every year The opportunity to advertise new brands gives companies the incentive to develop new brands and improve ... selective demand Primary demand advertising is designed to stimulate demand for the general product class or entire industry; selective demand advertising focuses on creating demand for a particular...

Ngày tải lên: 16/04/2013, 11:05