financial sector reforms and interest rate liberalization in nigeria

... PAPERS MT-DP – 2006/15 Central Bank Interventions, Communication and Interest Rate Policy in Emerging European Economies BALÁZS ÉGERT INSTITUTE OF ECONOMICS, HUNGARIAN ACADEMY ... p-values PRE- AND POST-EVENT WINDOW W 1 2 5 10 15 20 30 40 50 60 Hungary 2/5 DAYS wind 0.893 0.330 0.938 0.963 0.865 0.500 0.750 smooth 0.978 1.000 0.990 0.906 0.865 0.854 0.045 10 DAYS wind 0.929 0.250 0.962 0.934 0.906 0.500 0.750 smooth 0.856 1.000 0.913 0.934 0.607 0.854 0.045 20 ... p-values PRE- AND POST-EVENT WINDOW EVENT W 1 2 5 10 15 20 30 40 50 60 Hungary 2/5 DAYS wind 0.961 0.828 0.913 0.978 0.923 0.500 0.750 smooth 0.992 1.000 0.992 0.978 0.969 0.942 0.045 10 DAYS wind 0.975 0.780 0.942 0.962 0.946 0.500 0.750 smooth 0.947 1.000 0.942 0.985 0.879 0.942 0.045 20...

Ngày tải lên: 15/03/2014, 14:20

Ngày tải lên: 15/03/2014, 14:20

Ngày tải lên: 29/03/2014, 13:20

... specific interest rate on a predetermined principal for a set period of time. Interest rate cap OTC option that pays the difference between a floating interest rate and the cap rate. Interest ... Interest rate floor OTC option that pays the difference between the floor rate and a floating interest rate. Interest rate collar Combination of cap and floor. Interest rate corridor ... interest rate. Interest rate swaption OTC option to enter into an interest rate swap contract, purchasing the right to pay or receive a certain fixed rate. Interest rate warrant OTC...

Ngày tải lên: 06/03/2014, 02:21

... banking sector, cannot be discounted. A. Interest Rate and Business Investment The first step in examining how higher interest rates may influence business investment decisions and ... reforming public enterprises, and economy's financial sector. They analyze the streamlining public investment. But the in- role that interest rate policy could play in creases in interest rates ... FINANCIAL SECTOR IN EGYPT .5 IV. THE ROLE OF INTEREST RATES IN STAB:LIZATION AND ADJUSTMENT 10 A. INTEREST RATES AND CURRENCY SUBSTITUTION 11 DECOMPOSITION OF FINANCIAL...

Ngày tải lên: 15/03/2014, 14:20

... banks and growth in their commercial and industrial loan portfolios. More specifically, we find that aggregate use of derivative instruments, in particular interest- rate options, interest- rate ... model of financial intermediation. In that model, Diamond argues that interest- rate derivatives allow commercial banks to lessen their systematic exposure to changes in interest rates. In addition, ... reported using interest- rate options, and 8.61 percent reported using FRAs. Only 3.28 percent of the sample banks reported using interest- rate futures. Finally, over-the-counter dealers and subsidiaries...

Ngày tải lên: 17/02/2014, 03:20

... capitalization and bank interest rate setting may be not linear. For example, using banking data from 1984 to 1993, Calem and Rob (1999) find a U-shaped relationship between equity capital and risk-taking. ... dotted line indicates Lehman’s default. 4 Since bank interest rates could be sluggish in adjusting, we analyze the interest rates on overdraft loans that are modified unilaterally and at ... testing the role of lending relationships in bank interest rate setting. The data come from four sources: i) the Credit Register (CR) maintained by the Bank of Italy, containing detailed information...

Ngày tải lên: 17/02/2014, 03:20

Ngày tải lên: 18/02/2014, 11:20

... level, real income, and the nominal interest rate. In ation and In ationary Expectations During the 1950s and 1960s, the simple IS model proved inappropriate for thinking about sustained in ation, ... short-term relationship between in ation (output) and interest rate shocks was random in magnitude and sign. Combining the Cases: Limits on Pure Interest Rate Rules Thus, depending on what one admits ... Rules There are striking implications of this modification for the nature of output and interest rate linkages or, equivalently, in ation and interest rate linkages. Combining the expectational...

Ngày tải lên: 06/03/2014, 02:21

... The interest- rate calibration and the credit market calibration are separate, which can be helpful in splitting competence. We discussed numerically the impact of interest- rate and default-intensity ... to introduce dependence between interest rates and default by means of a stochastic intensity that will be correlated with the short rate. 2.1 Pricing and calibrating CDS with deterministic intensity models Consider ... caps for the interest rate market and options on CDS’s in the credit market. The calibrations to the interest- rate market and to the credit market can be kept separate, thus realizing a superposition...

Ngày tải lên: 06/03/2014, 04:21

... this drop in interest rates. Since interest rates cannot continue to drop indefinitely, there is much interest in the question: What would happen to the balance sheets of banks if interest rates go ... a rise in interest rates upon banks in India. In this paper, we measure the interest rate risk of a sample of major banks in India, using two methodologies. The first consists of estimating the ... banks in India in the event of an increase in interest rates. I am confident that it will help the shareholders and managers of banks, board members, supervisors and policy makers in thinking...

Ngày tải lên: 06/03/2014, 14:20

... measures Net interest margin (TA) Net interest income (interest income less interest expense) divided by total assets (percentage). Net interest margin (IEA) Net interest income divided by interest- earning ... (percentage). Net interest spread Interest income divided by interest- earning assets less interest expense divided by interest- bearing liabilities (percentage). Net interest spread (non-banks) Interest income ... of net interest income. Consequently, the effects of structural change and the banking sectors’ reactions cannot be stricly separated in explaining trends in net interest margins and banking profits. 3.2...

Ngày tải lên: 06/03/2014, 14:20

Ngày tải lên: 15/03/2014, 01:20

... in its financial position as interest rates move over time. ADIs, and regulators, typically split interest rate risk into two components: traded interest rate risk and non-traded interest rate ... interest rate risk arising from taking trading positions in interest rate markets (ie the interest rate risk inherent in an ADI’s ‘trading book’) 3 . ADIs are not required to hold capital against interest ... impact of interest rate moves on earnings, a significant component of which is net interest income − the difference between interest receipts and payments. Interest rate changes also affect interest- rate...

Ngày tải lên: 15/03/2014, 01:20

... decrease in interest rates, and this means that the bank will lose money in the cash market if rates decline. By selling interest rate forwards, futures or by engaging in an interest rate swap in ... decreases in interest rates (Sinkey 2002). Interest rate swaps can thus reduce interest rate risk either by converting a fixed -rate in- come stream to a variable -rate stream or by converting a variable -rate ... buying interest rate futures or forwards or by engaging in an interest rate swap in which the LRBA bank pays fixed and receives floating rate, positive cash flows are generated by the particular in- terest...

Ngày tải lên: 15/03/2014, 01:20

... Solomon Islands, “Understanding the Interest Rate Spread in Solomon Islands,” Focus Report, 2007. Chirwa, Ephraim and Montfort Mlachila, Financial Reforms and Interest Rate Spreads in the Commercial ... non -interest income and interest rate spreads suggests that increases in fee-based activities have been compensating for increasing inefficiency. These two issues point to the need for increased ... non-performing loans in Kenya, which in turn pushed up lending rates and increased net interest margins (Ngugi 2001). Macro-economic factors such as inflation, GDP growth, interest rates on...

Ngày tải lên: 15/03/2014, 14:20

... of interest rates. Banco de Portugal | Financial Stability Report 2005 Parte II | Articles 128 The legal framework covering interest rate risk in the banking book in Portugal is defined in Instruction no. ... interest rate risk that takes into consideration the changes in all financial flows related directly or indirectly to intermediation stemming from changes in market inter - est rates, including ... review, and for most of them, the impact of an increase in the interest rates will be positive in terms of interest rate risk, both on a net worth level and in terms of the interest margin. Therefore,...

Ngày tải lên: 22/03/2014, 17:20

Ngày tải lên: 22/03/2014, 17:20

Ngày tải lên: 22/03/2014, 17:20

Ngày tải lên: 22/03/2014, 23:20