The Economics of Bank Restructuring: Understanding the Options ppt

... basis. The remaining debt is a fraction (1 – α) of the initial debt. The gains of the remaining debt holders are (1 – α) of the gains of all the initial debt holders. Thus, the transfer by the ... issue decreases the probability of default. The choice of the conversion ratio needs to solve a trade-off: on the one hand, the higher the conversion ratio...

Ngày tải lên: 15/03/2014, 10:20

... for the steady state of the model to match the average ratio of M1 to M2. The share of capital in the pro duction function of intermediate-good producers, θ k , is set to the standard value of ... of the funds from investors and by a t the net worth of this bank. The bank s lending capacity, net of the monitoring costs, is thus a t + d t − µi t . The (o...

Ngày tải lên: 15/03/2014, 10:20

... diminishing the claims of the other creditors in the event of bankruptcy. Guarantees give the lender general recourse against the assets of the principal owner or other party issuing the guarantee ... and the effect of the consolidation of the banking industry on the availability of credit to small business have also been the subject of much research over...

Ngày tải lên: 15/03/2014, 21:20

... measure of the pure bank spread is the estimate of )( t γδ + , where t γ is the t th element in the γ vector. Let t ps denote the estimate of the pure spread. In the second-step of the procedure, ... determinants of the bank interest spread. The first step makes use of a panel of banks to relate the bank- level interest spread to a vector of...

Ngày tải lên: 22/03/2014, 23:20

... quotations from the point of view of the US as the domes- tic country. The first, second and fourth cells in the third column report how many units of the US dollar, the euro and the Japanese yen ... source of both tables was the Financial Times. The fourth column of the tables shows bid-ask spreads or bid-offer spreads while the second column is the mid...

Ngày tải lên: 24/03/2014, 04:20

... Because of the cost of parallel IT operations (i.e., cloud and non-cloud), the shorter the server migration schedule, the greater the economic benefits. These findings, in turn, lead to the following ... estimating the costs and benefits and analyzing the economics of information technology projects. Over the years, Mr. Alford has been the lead analyst support...

Ngày tải lên: 31/03/2014, 05:21

... the Ex-Im Bank on the basis of a number of concerns, including the size and scope of the federal government, the economic rationale of the Bank, corporate welfare arguments, the impact of the ... sources; the size of the Bank account; co-financing programs of the Bank and other foreign ECAs; services supported by the Bank and other ECAs; expor...

Ngày tải lên: 22/03/2014, 21:20