reserves and the determination of market interest rates

Tài liệu Bank mergers and the dynamics of deposit interest rates doc

... order to estimate the effect of the market extension dimension of the mergers we include the change of number of local markets (CNM) divided by the number of markets prior to the merger as a regressor ... rates and for a range of merger, bank and local market features An innovation of our work is the introduction of an econometric approach of estimating the change of the deposit rates given their ... The “efficiency hypothesis” states that the merged bank might reach economies of scale and other efficiency gains and transfer these to the customers in the form of more beneficial interest rates...

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Tài liệu Temi di discussione: Are there asymmetries in the response of bank interest rates to monetary shocks? pdf

Danh mục: Ngân hàng - Tín dụng

... due to the characteristics of the monetary policy impulse This means that in the long run the pass-through from money market rates to bank rates has the same size independent of the sign of the ... greater number of degrees of freedom The exclusion of the interbank rate from the model can be adopted because of the high velocity of adjustment of the interbank rate to the policy rate in the 1990s ... calculated in the last years of the sample period Therefore, the lines above the value of one give the outcome of the rank test evaluated for any partial sample period Due to the presence of dummy and...

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Forecast uncertainty and the Bank of England interest rate decisions ppt

Danh mục: Ngân hàng - Tín dụng

... strength of the relationship between the MPC’s own forecasts and the interest rate decisions of the MPC on the oﬃcial Bank Rate The data used are the historical forecasts for British CPI inﬂation and ... inﬂation and for the annual growth rates of real GDP published by the Bank of England in its quarterly Inﬂation Report A feature of the Bank of England Inﬂation Reports is that they show not only ... available at the time the interest rate decision is made I include the forecast standard deviations directly in reaction functions to estimate the strength and the direction of the impact of forecast...

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báo cáo khoa học: "Long-term exposure of CdTe quantum dots on PC12 cellular activity and the determination of optimum non-toxic concentrations for biological use" docx

Danh mục: Báo cáo khoa học

... was introduced during the synthesis of the QDs and its presence while altering QD growth rates and QYs [44], does not significantly alter the size distribution of the QDs and acts primarily as ... expected for the (111) plane of cubic zinc blend CdTe [50] We have previously shown that although the presence of gelatine during the synthesis of the QDs can influence the rate of QD growth and QY ... degradation of the QDs without the presence of the PC12 cells, we carried out a number of experiments to analyse the effect of co-incubating the QDs with only the cell culture medium (Figure and 6)...

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Thuyết trình tài chính quốc tế Monetary policy transparency and pass-through of retail interest rates

Danh mục: Tài chính doanh nghiệp

... from market rates to retail rates The MAL is simply the weighted average of all lags and it is a measure of the speed with which retails rates respond to movements in policy or money ADL market rates ... for the floating and fixed 1-year mortgage rates at the 5% level  Official and money market interest rates have a much more direct link with short-term rates than with long-term rates 3 Data and ... degree of pass-through from the market cash rate to retail rates was incomplete  After the introduction of the OCR, the degree of passthrough for the floating rate, base lending rate and 6month...

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The ﬁnancial crisis and the pricing of interest rates in the Irish mortgage market: 2003-2011 ppt

Danh mục: Ngân hàng - Tín dụng

... institutions.3 The data give a sense of both the prevalence of variable rates in the Irish mortgage market, and the diﬀerence in average interest rates when compared with other interest rate types ... unemployment and stable interest rates, the availability of wholesale funding post 2003, signiﬁcantly increased the supply of credit to the residential market The existing boom in both the residential and ... balances and interest rates In Figure the average tracker and variable rate for the Irish mortgage market is plotted in the left-hand side panel The average diﬀerence between variable rates across the...

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Bank of England Interest Rate Announcements and the Foreign Exchange Market ∗ doc

Danh mục: Ngân hàng - Tín dụng

... current and future U.S and foreign short-term interest rates, and exchange rates in order to assess the eﬀect of U.S monetary policy shocks on other variables in the SVARs Although the results for interest ... (1) where Δet is the change in the logarithm of the exchange rate at time t The mean of the exchange rate returns process, μ, the autocorrelation coeﬃcient, ρ, and the variance of the innovation, ... measured by the Bloomberg survey For the other eighteen instances, the market was either surprised that the MPC changed the policy rate or was surprised by the extent of the change There were...

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INTEREST RATES AND THE CONDUCT OF MONETARY POLICY pot

Danh mục: Ngân hàng - Tín dụng

... growth and interest rates Cook and Hahn (1989) test for evidence of the Fed’s influence on rates by examining the reaction of interest rates to Fed target changes They estimate the reaction of rates ... between three- and six-month rates before and after the founding of the Fed The two rates moved together more closely in the later period, as predicted by the expectations theory of the term structure, ... understanding of central banking The last section of the paper surveyed empirical evidence from the founding of the Fed and the 1970s demonstrating the Fed’s power over market interest rates It...

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WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES docx

Danh mục: Ngân hàng - Tín dụng

... (2005), Heinemann and Schüller (2002), Sander and Kleimeier (2004)) We then test the stability of the baseline linear ECM before and after the introduction of the euro and assess whether more general ... credit and mortgages), mrst is the short-term market interest rates and mrlt the long-term market interest- rate ∆ is the first difference operator Equation [2] relates the first differences of the ... short-term market interest rates movements are not necessarily fully transmitted to market interest rates with longer maturity, the pass-through of official interest rates to retail bank interest rates...

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WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES pptx

Danh mục: Ngân hàng - Tín dụng

... (2005), Heinemann and Schüller (2002), Sander and Kleimeier (2004)) We then test the stability of the baseline linear ECM before and after the introduction of the euro and assess whether more general ... credit and mortgages), mrst is the short-term market interest rates and mrlt the long-term market interest- rate ∆ is the first difference operator Equation [2] relates the first differences of the ... short-term market interest rates movements are not necessarily fully transmitted to market interest rates with longer maturity, the pass-through of official interest rates to retail bank interest rates...

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Dual-track interest rates and the conduct of monetary policy in China potx

Danh mục: Ngân hàng - Tín dụng

... loans The market rate increases as the PBC raises the RRR, which means the higher the RRR, the less the funding available from the banks and the higher the demand for funding in the nonregulated market, ... has no impact on the market rate The market rate increases as the PBC raises the RRR and issues more bills The impact of the credit quota on the market rate is ambiguous The proof of Result 2.3 ... rate On the other hand, the impact of CBB issuance on market interest rates is small compared to that of the benchmark deposit rate and the RRR This is because the average size of an issue of CBB...

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Tài liệu Inequalities in Higher Education and the Structure of the Labour Market pdf

Danh mục: Khoa học xã hội

...

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Tài liệu Banks’ exposure to interest rate risk, their earnings from term transformation, and the dynamics of the term structure pptx

Danh mục: Ngân hàng - Tín dụng

... case especially the shape of the (past and current) term structure of interest rates We call this variable the change in the systematic factor of the exposure to interest rate risk The variables ... instance, the duration, and the weighted sum of the positions’ duration is a measure of the bank’s exposure to interest rate risk (See, for instance, Sierra and Yeager (2004)) The main problem of these ... two strands of the literature of the banks’ interest rate risk (See Staikouras (2003) and Staikouras (2006) for a survey) The ﬁrst one is about the determinants of the banks’ exposure to interest...

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Tài liệu Regulatory Rights Supreme Court Activism, the Public Interest, and the Making of Constitutional Law doc

Danh mục: Cao đẳng - Đại học

... endorsement of the divine and hereditary right of English kings to rule, his promotion of accumulated wealth in the hands of the few, and above all his disdain for common people and for the idea of government ... about the text, theorists insist that the warp and woof of constitutional law is still traceable to the written document and must be, given that the document and only the document counts as the ... Court Activism, the Public Interest, and the Making of Constitutional Law l a r ry yac k l e the university of chicago press chicago and london larry yackle is professor of law and the Basil Yanakakis...

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Emerging Market Liberalization and the Impact on Uncovered Interest Rate Parity potx

Danh mục: Ngân hàng - Tín dụng

... investigate if the liberalization of emerging markets has led to the integration of their currency markets into the world capital market We take the perspective of a U.S investor and examine the extent ... (1993), De Brouwer (1997), and others, stress the importance of the integration of currency markets for the integration of emerging financial markets into the world capital market As noted by Frankel ... period of relatively scarce capital and high interest rates in the emerging market, then with unrestricted inflows there is expected to be a decline in interest rates Hence, the net impact of liberalization...

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Statehood and the Law of Self-Determination docx

Danh mục: Cao đẳng - Đại học

... statehood: the unlawful proclamation of independence § 3.1 The prohibition of abuse of the right of selfdetermination: the requirement of fulfilment of the conditions of the qualified right of secession ... to the creation of their own State on the basis of an alleged right of self -determination, and the attempts of the parent States to preserve their territorial status quo, is the source of the ... non-recognition of claims to statehood 116 § 5.1 The era of the League of Nations 116 § 5.2 The era of the United Nations 122 § 5.2.1 Violation of the prohibition of the use of force, in particular the prohibition...

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The intersection of market and credit risk ppt

Danh mục: Ngân hàng - Tín dụng

... ± this aects the market value of the ®rm ± generating market risk The lack of separability between market and credit risk aects the determination of economic capital, which is of central importance ... also a number of disadvantages Many of the basic inputs to the KMV model ± the value of the ®rm, the volatility and the expected value of the rate of return on the ®rmÕs assets ± cannot be directly ... the market value of the corporate debt increases, the yieldto-maturity decreases, and the spread declines The magnitude of this change is larger the higher the yield on the debt Fourth, market and...

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WORKING PAPER SERIES NO 1376 / SEPTEMBER 2011: THE PRICE OF LIQUIDITY THE EFFECTS OF MARKET CONDITIONS AND BANK CHARACTERISTICS pptx

Danh mục: Ngân hàng - Tín dụng

... at the end of the month prior to the start of the maintenance period that the operation falls under Write-oﬀs and provisions and return on assets are measured at the end of the year before the ... diﬀerence between the required and the actually held reserves Furthermore, the ECB can call for the provision of non -interest- bearing deposits up to three times the amount the respective bank ... summary The recent financial crisis has brought to light the importance of the market for liquidity for the broader financial markets For example, as testified by the then Secretary of the Treasury,...

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WORKING PAPER NO. 218 THE ZERO-INTEREST-RATE BOUND AND THE ROLE OF THE EXCHANGE RATE FOR MONETARY POLICY IN JAPAN potx

Danh mục: Ngân hàng - Tín dụng

... above, the distortion of output and inﬂation distributions is driven by a distortion of the real interest rate The left-hand panels of Figure report the upward bias in the mean real rate and the ... downward bias in the variability of the real rate depending on the level of the nominal equilibrium rate of interest The downward bias in the variability of the real rate accounts for the reduced ... shown, the short-term nominal interest rate will fall back to zero either during the peg or at the end of the peg period Such a recurrence of zero interest rates may render the communication of the...

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Determinants of lending interest rates and interest rate spreads pptx

Danh mục: Ngân hàng - Tín dụng

... efficiency and profitability of the banking system, greater competition, the widening of the spectrum and quality of the financial services offered by the banks, the rise in deposits, the decrease in the ... to detect the factors that influence the interest rate policy of the banks The main conclusion of the paper is related to the results regarding the size of the bank assets and the market share, ... explained by the compensation of the cost increase through the adaptation of other categories of bank balance sheets On the other hand, the low coefficient of the deposit rate could also reflect the fact...

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