straddles strangles and butterfly spreads
Lending Interest Rates and Bank Spreads potx
... in bank spreads? The existence and quality of collateral (i.e whether it can be easily recovered) have a major impact on spreads For example, spreads on auto loans are much lower than spreads ... rates and bank spreads? Once per year, the BCB publishes (in Portuguese) the “Credit and Banking Economy Report”, which includes the most complete data available on lending costs and bank spreads ... Papers and Technical Notes on credit and bank spreads The links are presented below Technical Notes: 35 – Judicial System and Credit Market in Brazil (in Portuguese) Pedro Fachada, Luiz Fernando...
Ngày tải lên: 06/03/2014, 02:21
Strategic Actions and Credit Spreads: An Empirical Investigation pdf
... Merton (1974) and Black and Cox (1976) and later extended along a number of dimensions by Leland (1994), Longstaff and Schwartz (1995), Leland and Toft (1996), and Collin-Dufresne and Goldstein ... (2002), Chen (2003), and Bris, Welch, and Zhu (2006) Corporate finance models such as Bergl¨ f and von Thadden (1994), Bolton and Scharfstein (1996), o and Hackbarth, Hennessy, and Leland (2007) study ... Asquith, Gertner, and Scharfstein (1994), Franks and Torous (1994), and Betker (1995) Strategic Actions and Credit Spreads 2635 but the empirical importance of strategic actions for spreads thus...
Ngày tải lên: 15/03/2014, 07:20
SEIGNIORAGE, RESERVE REQUIREMENTS AND BANK SPREADS IN BRAZIL pptx
... of seigniorage on bank spreads and margins Empirical evidence on the link between seigniorage and spreads Bank spreads and margins reflect the cost of intermediation In Ho and Saunders (1981), ... on bank spreads The effect of reserve requirements on bank spreads depends on the interaction with inflation and deposit demand and its ability to affect bank seigniorage revenue and spreads ... elasticity of demand for credit and on the elasticity of supply of deposits (Hanson and Rocha, 1986) Reserve requirements can also drive a wedge between borrowing and lending rates and thus act as...
Ngày tải lên: 29/03/2014, 13:20
lee, mucklow and ready-spreads, depths, and the impact of earnings information - an intraday analysis
... suggests wider spreads 22 Several studies document intraday patterns In spreads and volume [e.g., Brock and Kleidon (1992), Brown, Clinch, and Foster (1991), and McInish and Wood (1992)] 360 Spreads, ... cross-sectional relation between spreads and depths In Table 3, we show that spreads and depths are negatively related—wide spreads tend to be associated with low depths, and narrow spreads tend to be associated ... within the bid-ask spread, so the mean and median effective spreads are less than the mean and median quoted spreads The mean and median depths are 110 and 58 round lots, respectively Thus, a...
Ngày tải lên: 31/10/2014, 18:45
liquidity and yield spreads of corporate bonds
... Bond Yield Spreads and Bid-Ask Spreads 1.4.1 Theoretical Considerations The main purpose of this paper is to empirically explore the relationship between the yield spreads and bid-ask spreads of ... 53 viii A.6 Pooled Regression of Corporate Yield Spreads on Bid-Ask Spreads 54 A.7 Random Effects Regression of Yield Spreads on Bid-Ask Spreads 54 A.8 Cash Flows of High Yield Mutual Funds ... securities, become very sensitive to yield spreads Therefore, the factors that drive yield spreads determine the risk of such portfolios, and they require understanding and measurement The yields of corporate...
Ngày tải lên: 02/11/2014, 00:43
Tài liệu THE RELATIONSHIP BETWEEN CREDIT DEFAULT SWAP SPREADS, BOND YIELDS, AND CREDIT RATING ANNOUNCEMENTS ppt
... Aa2, and Aa3; it divides A into A1, A2, and A3; and so on Similarly S&P divides its AA category into AA+, AA, and AA–; it divides its A category into A+, A, and A–; etc Only the Moody's Aaa and ... Mithal and Neis (2003) assume that the benchmark risk-free rate is the Treasury rate and find significant differences between credit default swap spreads and bond yield spreads Blanco, Brennan and ... the relationship between credit default swap spreads and bond yields The second is to examine the relationship between credit default swap spreads and announcements by rating agencies The analyses...
Ngày tải lên: 16/02/2014, 03:20
THE RELATION BETWEEN TREASURY YIELDS AND CORPORATE BOND YIELD SPREADS pot
... categories ~Aaa, Aa, A, and Baa!, and three bands of remaining maturities ~2–7 years, 7–15 years, and 15–30 years! Hence 48 ~4 ϫ ϫ 3! different time series of spreads and changes in spreads are constructed ... yield spreads are weighted averages of the sectors’ yield spreads, where the weights are the number of bonds in each section Summary statistics for these time series of spreads and changes in spreads ... in yield spreads and changes in the Treasury term structure, I need variables that summarize the information in the Treasury term structure Litterman and Scheinkman ~1991! and Chen and Scott...
Ngày tải lên: 06/03/2014, 04:20
Monitoring Butterflies for Ecology and Conservation: The British Butterfly Monitoring Scheme docx
Ngày tải lên: 15/03/2014, 18:20
WORKING PAPER SERIES NO. 303 / FEBRUARY 2004: FISCAL POLICY EVENTS AND INTEREST RATE SWAP SPREADS: EVIDENCE FROM THE EU pdf
... bound and the role of the exchange rate for monetary policy in Japan” by G Coenen and V Wieland, March 2003 219 “Extra-euro area manufacturing import prices and exchange rate pass-through” by B Anderton, ... money?” by C Brand, H.-E Reimers and F Seitz, September 2003 255 “Is the demand for euro area M3 stable?” by A Bruggeman, P Donati and A Warne, September 2003 256 “Information acquisition and decision ... the SGP and in the Maastricht Treaty became relevant and had to be implemented for the first time for Portugal and for Germany Secondly, as governments felt the restraint from the SGP and as the...
Ngày tải lên: 22/03/2014, 23:20
BANK EFFICIENCY, OWNERSHIP AND MARKET STRUCTURE WHY ARE INTEREST SPREADS SO HIGH IN UGANDA? potx
... market structure and interest rate spreads and margins (Claessens, Demirguc-Kunt and Huizinga, 2001; Barajas, Steiner and Salazar, 2000; Demirguc-Kunt, Laeven and Levine, 2004) and find a positive ... A one standard deviation increase leads to less 0.7 percentage point lower spreads and 0.3 percentage points lower margins, or 15% of the standard deviation of spreads and 6% of the standard deviation ... spreads and margins First, we find more cross-bank than cross-time variation in spreads and margins Second, and consistent with the first finding, bank-level variables are the statistically and...
Ngày tải lên: 22/03/2014, 23:20
Credit Spreads and Interest Rates: A Cointegration Approach pot
... credit spreads and analyze how credit spreads respond to interest rate movements We find that corporate rates and government rates are cointegrated and the relation between credit spreads and Treasury ... Cointegration Results See Rose (1988), Hall, Anderson and Granger (1992), and Konishi, Ramey and Granger (1993) for short-term rates, and Mehra (1994) and Campbell and Shiller (1987) for long-term rates ... Evidence Cornell and Green (1991), Fridson and Kenney (1994), Longstaff and Schwartz (1995), and Duffee (1998) document a significant negative relation between changes in credit spreads and Empirically,...
Ngày tải lên: 22/03/2014, 23:20
Determinants of lending interest rates and interest rate spreads pptx
... transition and small open SEE economies: financial and economic stability; banking and finance; internal and external vulnerabilities Researchers from central banks participated, presenting and discussing ... related to consumption and investment, and hence of the financing capital accumulation and technological innovations, aimed at medium-term productivity growth and more dynamic and sustainable rates ... interest rate spreads, on the one hand, and bank size (total assets), liquidity and foreign ownership, on the other In addition, he finds that market share, non-performing loans, deposit rates and money...
Ngày tải lên: 22/03/2014, 23:20
Spreadsheets and Case Studies potx
... chiller exit temp to -60°C and the expander exit pressure to 20 bar What is your new profit? Save your case! Spreadsheets and Case Studies Use of Spreadsheets The spreadsheet can be a very useful ... module, you will be able to: • • • • Import and export variables to and from the Spreadsheet Add complex formulas to the Spreadsheet Use the HYSYS Spreadsheet in a wide variety of applications ... flowsheets Spreadsheets and Case Studies The HYSYS Spreadsheet With complete access to all process variables, the Spreadsheet is a very powerful tool in the HYSYS environment The power of the Spreadsheet...
Ngày tải lên: 23/03/2014, 02:20
learn openoffice.org spreadsheet macro programming ooobasic and calc automation
... Learn OpenOffice.org Spreadsheet Macro Programming OOoBasic and Calc Automation A fast and friendly tutorial to writing macros and spreadsheet applications Dr Mark Alexander Bain BIRMINGHAM ... and Closing Spreadsheets Manipulating Spreadsheet Cells Using OOo's Built‑in Functions Named Worksheets and Cells Accessing Existing Named Worksheets and Cells Creating New Named Worksheets and ... continual (and continuing) support and encouragement Thanks also to Noel Power and Michael Meeks for help with the chapter on VBA, to Paul Hudson for introducing me to Noel and Michael, to Andrew...
Ngày tải lên: 01/06/2014, 10:34
emerging markets and financial globalization sovereign bond spreads in 1870-1913 and today jun 2006
... including the gold standard, affiliation with the British Empire, and economic growth (Bordo and Rockoff, 1996; Ferguson and Schularik, 2004, 2005; Flandreau and Zumer, 2004; and Obstfeld and Taylor, 2003b) ... bond spreads 2.3 Bond spreads, emerging market countries, 1870–1913 2.4 Emerging market countries’ spreads, 1994–2004 2.5 Spreads and the percentage of news reports on wars and instability and ... Chinese and Japanese sovereign spreads in the nineteenth century Sussman and Yafeh (1999b) discuss the co-movement of Japanese and other sovereign bonds before and after Japan adopted the gold standard...
Ngày tải lên: 11/06/2014, 01:00
butterfly and moth eyewitness
... France GRASSLAND HABITAT Species of butterfly whose caterpillars feed on grasses are found in meadows, shrublands, and the edges of woodlands and rivers This butterfly probably gets its name because ... Migration and hibernation 52 Shape, color and pattern 54 Camouflage 56 Mimicry and other€unusual€behavior 58 Endangered species 60 Watching butterflies and moths 62 Rearing butterflies and moths ... Africa) is a typical well-camouflaged grassland butterfly BROUGHT UP ON VIOLETS The Aphrodite, Speyeria aphrodite, is found in the grasslands and open woodlands of western North America The caterpillars...
Ngày tải lên: 12/11/2014, 15:59
Spring crafts for kids 17 flower crafts butterfly crafts and more
... fingers and top part of palm on child’s hand Dip another sponge into Green Soft paint and apply to palm of the hand Colors will touch and blend at the top of the palm 7.) Angle hand horizontally and ... Power 23 Butterfly Crafts 26 Watercolor-ful Doily Butterflies 26 Beaded Butterfly Beauty 28 Happy Handprint Butterfly Bag 30 Preschool Yarn Butterflies 31 Vases and More Spring ... activities, recipes and more at www.AllFreeKidsCrafts.com 25 Spring Crafts for Kids: 17 Flower Crafts, Butterfly Crafts, and More Butterfly Crafts Watercolor-ful Doily Butterflies By: Amanda Formaro...
Ngày tải lên: 19/03/2015, 15:03