Download or read book The Repo and Reverse Markets written by Marcia L. Stigum and published by McGraw-Hill Companies. This book was released on 1989 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Reserve Act approved December 23 1913 as Amended written by United States and published by . This book was released on 1957 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Introduction to Options Trading written by Frans de Weert and published by John Wiley & Sons. This book was released on 2011-02-15 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explaining the theory and practice of options from scratch, this book focuses on the practical side of options trading, and deals with hedging of options and how options traders earn money by doing so. Common terms in option theory are explained and readers are shown how they relate to profit. The book gives the necessary tools to deal with options in practice and it includes mathematical formulae to lift explanations from a superficial level. Throughout the book real-life examples will illustrate why investors use option structures to satisfy their needs.
Download or read book An Introduction to Repo Markets written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2011-01-31 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Repo markets have grown dramatically in the past few years because of the need to hedge short positions in the capital and derivatives markets. Virtually all major currency markets in the world now have an established repo market, the facility is also increasingly being used in developing currency markets as well. This book is a practical introduction that focuses on the instruments, applications and risk management techniques essential for this rapidly evolving market. Fully updated to reflect the changes in these markets, the book also includes worked examples and case studies, and new sections on basket and structured finance repo.
Download or read book The Capital Markets written by Gary Strumeyer and published by John Wiley & Sons. This book was released on 2017-01-30 with total page 661 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Capital Markets: evolution of the financial ecosystem is the new standard providing practical text book style coverage of this dynamic market and its products. Written by the former President of BNY Mellon Capital Markets, LLC for both financial professionals and novices, The Capital Markets provides a comprehensive macro view of the marketplace and how its products operate. The subject matter offers an authoritative discussion of the fundamentals of both, the fixed income and equity markets, underwriting, securitizations, derivatives, currency among other products through the lens of leading industry practitioners. Key Learning Concepts Understand the impact of both global and domestic regulatory changes Learn about the products that holistically make up the capital markets Explore the components of the infrastructure that underpins these markets Examine the tools used for trading and managing risk Review new product innovations
Download or read book The Scarcity Effect of Quantitative Easing on Repo Rates Evidence from the Euro Area written by William Arrata and published by International Monetary Fund. This book was released on 2018-12-07 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most short-term interest rates in the Euro area are below the European Central Bank deposit facility rate, the rate at which the central bank remunerates banks’ excess reserves. This unexpected development coincided with the start of the Public Sector Purchase Program (PSPP). In this paper, we explore empirically the interactions between the PSPP and repo rates. We document different channels through which asset purchases may affect them. Using proprietary data from PSPP purchases and repo transactions for specific (“special") securities, we assess the scarcity channel of PSPP and its impact on repo rates. We estimate that purchasing 1 percent of a bond outstanding is associated with a decline of its repo rate of 0.78 bps. Using an instrumental variable, we find that the full effect may be up to six times higher.
Download or read book How Big Banks Fail and What to Do about It written by Darrell Duffie and published by Princeton University Press. This book was released on 2010-10-18 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading finance expert explains how and why big banks fail—and what can be done to prevent it Dealer banks—that is, large banks that deal in securities and derivatives, such as J. P. Morgan and Goldman Sachs—are of a size and complexity that sharply distinguish them from typical commercial banks. When they fail, as we saw in the global financial crisis, they pose significant risks to our financial system and the world economy. How Big Banks Fail and What to Do about It examines how these banks collapse and how we can prevent the need to bail them out. In sharp, clinical detail, Darrell Duffie walks readers step-by-step through the mechanics of large-bank failures. He identifies where the cracks first appear when a dealer bank is weakened by severe trading losses, and demonstrates how the bank's relationships with its customers and business partners abruptly change when its solvency is threatened. As others seek to reduce their exposure to the dealer bank, the bank is forced to signal its strength by using up its slim stock of remaining liquid capital. Duffie shows how the key mechanisms in a dealer bank's collapse—such as Lehman Brothers' failure in 2008—derive from special institutional frameworks and regulations that influence the flight of short-term secured creditors, hedge-fund clients, derivatives counterparties, and most devastatingly, the loss of clearing and settlement services. How Big Banks Fail and What to Do about It reveals why today's regulatory and institutional frameworks for mitigating large-bank failures don't address the special risks to our financial system that are posed by dealer banks, and outlines the improvements in regulations and market institutions that are needed to address these systemic risks.
Download or read book Satyadas written by Bimala Kara and published by Katha. This book was released on 2006 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Exploring truth, falsehood, and everything in between."
Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The REPO Handbook written by Moorad Choudhry and published by Butterworth-Heinemann. This book was released on 2002 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book features an introduction to the structure and mechanics of repo, institutional practices and real-world examples. In addition the content includes necessary supplementary material such as bank asset and liability management, trading techniques, and a range of other applications of value in the global money markets. Repo markets play a pivotal role in the world's economy. The Repo Handbook is the definitive, comprehensive guide to this most important element of the global debt capital markets. It describes the use, motivations and mechanics of the repo instrument, and features invaluab.
Download or read book Risk Topography written by Markus Brunnermeier and published by University of Chicago Press. This book was released on 2014-10-17 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis and the difficulty of using mainstream macroeconomic models to accurately monitor and assess systemic risk have stimulated new analyses of how we measure economic activity and the development of more sophisticated models in which the financial sector plays a greater role. Markus Brunnermeier and Arvind Krishnamurthy have assembled contributions from leading academic researchers, central bankers, and other financial-market experts to explore the possibilities for advancing macroeconomic modeling in order to achieve more accurate economic measurement. Essays in this volume focus on the development of models capable of highlighting the vulnerabilities that leave the economy susceptible to adverse feedback loops and liquidity spirals. While these types of vulnerabilities have often been identified, they have not been consistently measured. In a financial world of increasing complexity and uncertainty, this volume is an invaluable resource for policymakers working to improve current measurement systems and for academics concerned with conceptualizing effective measurement.
Download or read book Global Banks and International Shock Transmission written by Nicola Cetorelli and published by DIANE Publishing. This book was released on 2010-11 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global banks played a significant role in transmitting the 2007-09 financial crisis to emerging-market (EM) economies. The authors examine adverse liquidity shocks on main developed-country banking systems and their relationships to EM across Europe, Asia, and Latin Amer., isolating loan supply from loan demand effects. Loan supply in EM across Europe, Asia, and Latin Amer. was affected significantly through three separate channels: (1) a contraction in direct, cross-border lending by foreign banks; (2) a contraction in local lending by foreign banks¿ affiliates in EM; and (3) a contraction in loan supply by domestic banks, resulting from the funding shock to their balance sheets induced by the decline in interbank, cross-border lending. Charts and tables.
Download or read book Analysis and Evaluation of the Eurex Repo Market Model written by Monika Gruber and published by GRIN Verlag. This book was released on 2004-12-29 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2004 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3 (A), University of Innsbruck (Banking & Finance), language: English, abstract: Europe is a leading world centre for financial markets alongside North America and the Far East. European securities exchanges play a vital role in these markets by providing companies with the opportunity to raise capital and by giving both private and institutional investors the opportunity to invest. There have been three major developments that characterise the changes in the European Exchange landscape over the past twenty years: the globalisation of financial markets, the revolutionary developments of technology, and European regulation. A growing number of companies and banks wish to raise capital in more than one country. Investors too are looking at integrated or interconnected international markets in order to maximise their return and spread their capital risk. Long term developments such as the introduction of the euro, the spread of privatisation, the growing number of pan-European mergers and the rise of the retail investor have encouraged closer cooperation and, in some cases, the integration of Europe’s formerly diverse and separate equity markets. At the same time, over the past decade, every European exchange membership has undergone a major transformation. Most have opened up to foreign-owned intermediaries. Trading is executed electronically, often from overseas. European securities exchanges have risen to these challenges in a number of ways. Several exchanges increased the number of hours during which trading can take place to enhance access. They also introduced market-making and block-trading to increase liquidity. Additionally, order handling and execution systems were refined in order to boost efficiency and to reduce settlement times. Most exchanges also improved information systems to increase transparency and access. By developing new and imaginative investment instruments investment options have been enhanced. Thus, the European exchanges of today rightly present themselves as modern, high-tech enterprises. In several European countries, whole securities market services groups have grown around the traditional exchanges. With very few exceptions, the national derivatives markets are generally found today under the same roof as the national cash markets. Some of these groups even integrated their national clearing and settlement institutions, their IT provider, information distribution services and others. [...]
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Download or read book Investing Public Funds written by Girard Miller and published by . This book was released on 1986 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Repo Markets written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2011-12-07 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Repo, from sale and repurchase agreement, is one for the oldest and widely used instruments in global capital markets. It is a vital ingredient in the smooth and efficient running of the financial markets, and is used by all market participants including central banks, commercial banks, fund managers and corporates. This book is a comprehensive, detailed and authoritative description of the repo instrument. Written by a former repo trader, it covers applications and analysis of the various different instruments used in the repo markets. It also places the repo markets in the overall context of the money markets and banking asset-liability management.
Download or read book How Does the Repo Market Behave Under Stress Evidence From the COVID 19 Crisis written by International Monetary Fund (IMF) and published by International Monetary Fund. This book was released on 2021-11-05 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine how the repo market operates during liquidity stress by applying network analysis to novel transaction-level data of the overnight gilt repo market including the COVID-19 crisis. During this crisis, the repo network becomes more connected, with most institutions relying on existing trade relationships to transact. There are however significant changes in the repo volumes and spreads during the stress relative to normal times. We find a significant increase in volumes traded in the cleared segment of the market. This reflects a preference for dealers and banks to transact in the cleared rather than the bilateral segment. Funding decreases towards non-banks, only increasing for hedge funds. Further, spreads are higher when dealers and banks lend to rather than borrow from non-banks. Our results can inform the policy debate around the behaviour of banks and non-banks in recent liquidity stress and on widening participation in CCPs by nonbanks.
