Liabilities, Liquidity, and Cash ManagementB alancing Financial Risks phần 1 potx

[...]... Cash Figures 17 2 Cash Flow, Operating Cash Flow, and Free Cash Flow 17 5 Earnings, Cash Flow, and Price-to-Earnings Growth 17 8 Applying the Method of Intrinsic Value 18 0 Cash on Hand, Other Assets, and Outstanding Liabilities 18 3 Handling Cash Flows and Analyzing the Liquidity of Assets 18 4 Art of Estimating Cash Flows from Liabilities 18 7 Changes in Loans Policies and Their Aftermath 19 1 Draining Cash. .. Money 12 16 4 Cash Flow Studies and the Cash Budget 11 16 3 Basic Notions in Cash Management and the Cash Crunch 10 Cash, Cash Flow, and the Cash Budget 215 Mismatched Risk Profiles and Control by the Office of Thrift Supervision 219 Interest-Rate Risk Measurement and Office of Thrift Supervision Guidelines 220 Practical Example on the Role of Basis Points in Exposure 222 Sensitivity to Market Risk and. .. Market Bubble of Telecoms Stocks Exhibit 1. 2 Skyrocketing Stock Market Margin Debt, 19 90 to 2000 300 250 200 $ BILLIONS 15 0 10 0 50 0 19 90 19 91 1992 19 93 19 94 19 95 19 96 19 97 19 98 19 99 2000 product (GNP) of the United States (An estimated $8.8 billion was lost in the stock market blues from late March 2000 to the end of May 20 01. ) Private households, companies, and states accumulated a debt of $30 trillion... Supply 14 4 Liquidity Risk, Volatility, and Financial Statistics 14 7 xviii Contents Marking to Market and Marking to Model 15 0 Liquidity Premium and the Control of Excess Liquidity 15 3 Maturity Ladder for Liquidity Management 15 5 The Role of Valuation Rules on an Institution’s Liquidity Positions 15 7 PART THREE CASH MANAGEMENT 9 16 1 16 7 Flexible Budgeting and the Elaboration of Alternative Budgets 16 9... 12 7 Unrealistic Assumptions Characterizing a Famous Model 13 0 Liquidity Ratios and Activity Ratios in the Service of Management 13 1 Computation of Leverage and Default Including Derivatives Exposure 13 4 Contingency Planning for Liquidity Management 8 10 4 Forward-Looking Statements and Virtual Close at Cisco 7 10 1 13 9 Market Liquidity and the Control of Risk 14 3 Different Types of Market Liquidity and. .. Underlying Conditions 10 6 Preparing a Real-time Report on Hedging and Exposure 10 9 From Virtual Balance Sheets to Finances of Virtual Corporations 11 3 Managing the Liabilities Accounts of Virtual Companies 11 5 Liquidity Management and the Risk of Default 11 9 Liquid Assets and the Concept of Liquidity Analysis 12 0 Liquidity and Capital Resources: The View from Lucent Technologies 12 5 Who Is Responsible... $17 1 billion (euro 202 billion) in that year alone This is only part of the money telecoms must put on the table Exhibit 1. 4 Sixteen Years of Manufacturing Capacity Utilization in the United States, Excluding Technology 88 86 84 PERCENT 82 80 78 BUSH RECESSION 76 19 84 19 86 19 88 19 90 19 92 10 19 94 19 96 19 98 2000 20 01 Market Bubble of Telecoms Stocks because funding 3G networks will require another $14 5... Chief Technical Officer 16 215 Alton Parkway P.O.Box 57 013 Irvine, CA 92 619 -7 013 Edward Jones Ann FICKEN (Mrs.) Director Internal Audit 2 01 Progress Parkway Maryland Heights, MO 63043-3042 Standard & Poor’s Clifford Griep Managing Director 25 Broadway New York, NY 10 004 -10 64 Mary Peloquin-Dodd Director, Public Finance Ratings 55 Water Street New York, NY 10 0 41- 0003 Teachers Insurance and Annuity Association/College... 20 CASH FLOW AS PERCENT OF SALES 15 0 19 50 19 60 19 70 19 80 5 19 90 2000 20 01 CHALLENGES OF LIABILITIES MANAGEMENT Telecom alone is £30 billion ($44 billion) In one year, from March 2000 to 20 01, France Telecom increased its debt by 400 percent to Euro 61 billion ($55 billion) AT&T and the other U.S operators match these exposures For the whole telecoms sector worldwide, $200 billion comes due in 20 01. .. Resources: The Case of Bank One 19 3 Establishing Internal Control and Performance Standards 19 5 Money Markets, Yield Curves, and Money Rates 2 01 Money Market Instruments and Yield Volatility 202 Spillover Effects in the Transnational Economy 205 Major Factors Contributing to Global “Capital and Brains” Flows 209 Yield Structure and Yield Curves 211 Nominal Versus Real Interest Rates 213 Challenges Arising from . Positions 15 7 PART THREE CASH MANAGEMENT 16 1 9 Cash, Cash Flow, and the Cash Budget 16 3 Basic Notions in Cash Management and the Cash Crunch 16 4 Cash Flow Studies and the Cash Budget 16 7 Flexible. 17 8 Applying the Method of Intrinsic Value 18 0 10 Cash on Hand, Other Assets, and Outstanding Liabilities 18 3 Handling Cash Flows and Analyzing the Liquidity of Assets 18 4 Art of Estimating Cash. Budgeting and the Elaboration of Alternative Budgets 16 9 Benefits to Be Gained through Adequacy of Cash Figures 17 2 Cash Flow, Operating Cash Flow, and Free Cash Flow 17 5 Earnings, Cash Flow, and Price-to-Earnings