Banks, Government Bonds, and Default

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498391990
Total Pages : 53 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Banks, Government Bonds, and Default by : Nicola Gennaioli

Download or read book Banks, Government Bonds, and Default written by Nicola Gennaioli and published by International Monetary Fund. This book was released on 2014-07-08 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particularly in less financially-developed countries. During sovereign defaults, banks increase their exposure to public bonds, especially large banks and when expected bond returns are high. At the bank level, bondholdings correlate negatively with subsequent lending during sovereign defaults. This correlation is mostly due to bonds acquired in pre-default years. These findings shed light on alternative theories of the sovereign default-banking crisis nexus.

Bankers and Bonds

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Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Bankers and Bonds by :

Download or read book Bankers and Bonds written by and published by . This book was released on 1989 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Investment Banking

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Author :
Publisher : Springer Science & Business Media
ISBN 13 : 354093765X
Total Pages : 199 pages
Book Rating : 4.5/5 (49 download)

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Book Synopsis Investment Banking by : Giuliano Iannotta

Download or read book Investment Banking written by Giuliano Iannotta and published by Springer Science & Business Media. This book was released on 2010-01-12 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: From a historical point of view, the main activity of investment banks is what today we call security underwriting. Investment banks buy securities, such as bonds and stocks, from an issuer and then sell them to the ?nal investors. In the eighteenth century, the main securities were bonds issued by governments. The way these bonds were priced and placed is extraordinarily similar to the system that inve- ment banks still use nowadays. When a government wanted to issue new bonds, it negotiated with a few prominent “middlemen” (today we would call them investment bankers). The middlemen agreed to take a fraction of the bonds: they accepted to do so only after having canvassed a list of people they could rely upon. The people on the list were the ?nal investors. The middlemen negotiated with the government even after the issuance. Indeed, in those days governments often changed unilaterally the bond conditions and being on the list of an important middleman could make the difference. On the other hand, middlemen with larger lists were considered to be in a better bargaining position. This game was repeated over time, and hence, reputation mattered. For the middlemen, being trusted by both the investors on the list and by the issuing governments was crucial.

Bankers and Bonds

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Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Bankers and Bonds by :

Download or read book Bankers and Bonds written by and published by . This book was released on 1984 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Investor and the Investment Banking Business

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (89 download)

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Book Synopsis The Investor and the Investment Banking Business by : Investment Bankers Association of America. Educational Department

Download or read book The Investor and the Investment Banking Business written by Investment Bankers Association of America. Educational Department and published by . This book was released on 1926 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Institution Bonds

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Publisher : American Bar Association
ISBN 13 : 9781604422788
Total Pages : 1088 pages
Book Rating : 4.4/5 (227 download)

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Book Synopsis Financial Institution Bonds by : Duncan L. Clore

Download or read book Financial Institution Bonds written by Duncan L. Clore and published by American Bar Association. This book was released on 2008 with total page 1088 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Bankers and Bonds

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Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Bankers and Bonds by :

Download or read book Bankers and Bonds written by and published by . This book was released on 1987 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Considerations for Bankers, and Holders of United States Bonds

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Publisher :
ISBN 13 :
Total Pages : 114 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis Considerations for Bankers, and Holders of United States Bonds by : Lysander Spooner

Download or read book Considerations for Bankers, and Holders of United States Bonds written by Lysander Spooner and published by . This book was released on 1864 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Bank Funding Strategies

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Publisher : Springer
ISBN 13 : 3319694138
Total Pages : 160 pages
Book Rating : 4.3/5 (196 download)

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Book Synopsis Bank Funding Strategies by : Fabrizio Crespi

Download or read book Bank Funding Strategies written by Fabrizio Crespi and published by Springer. This book was released on 2017-11-30 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book illustrates the importance of bonds as a funding tool available to banks. After providing the reader with an overview of the funding strategies adopted during the last ten years by European banks, the book offers a deep focus on the Italian banking industry. Notably, the authors illustrate how bonds have been a primary funding choice for Italian banks, as well as a preponderant asset in Italian households’ portfolios. Furthermore, they highlight the consequences of the adoption of the Bank Recovery and Resolution Directive (BRRD) on the yields offered by bonds of Italian banks. Finally, they conclude the volume with the illustration of very recent case studies about the application of the BRRD to some problematic banks in Italy and the related side effects generated to bank bondholders. All the analyses presented in the book are supported by the use of quantitative data.

How Banks Buy Bonds

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Publisher :
ISBN 13 :
Total Pages : 246 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis How Banks Buy Bonds by : Bernhard Ostrolenk

Download or read book How Banks Buy Bonds written by Bernhard Ostrolenk and published by . This book was released on 1932 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Financial Times Guide to Bond and Money Markets

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Publisher : Pearson UK
ISBN 13 : 027379180X
Total Pages : 489 pages
Book Rating : 4.2/5 (737 download)

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Book Synopsis The Financial Times Guide to Bond and Money Markets by : Glen Arnold

Download or read book The Financial Times Guide to Bond and Money Markets written by Glen Arnold and published by Pearson UK. This book was released on 2015-07-15 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Annotated Financial Institution Bond

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Author :
Publisher : American Bar Association
ISBN 13 : 9781590313206
Total Pages : 760 pages
Book Rating : 4.3/5 (132 download)

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Book Synopsis Annotated Financial Institution Bond by : Michael Keeley

Download or read book Annotated Financial Institution Bond written by Michael Keeley and published by American Bar Association. This book was released on 2004 with total page 760 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Management of Bond Investments and Trading of Debt

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Publisher : Elsevier
ISBN 13 : 0080497284
Total Pages : 377 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis The Management of Bond Investments and Trading of Debt by : Dimitris N. Chorafas

Download or read book The Management of Bond Investments and Trading of Debt written by Dimitris N. Chorafas and published by Elsevier. This book was released on 2005-06-07 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written for managers and professionals in business and industry, and using a minimum of mathematical language, The Management of Bond Investments and the Trading of Debt addresses three key issues: Bondholder’s options, risks and rewards in making investments in debt instruments; The dynamics of inflation, and how they affect both trading in the bond market, and investment decisions; and The democratization of lending, socialization of risk, and effect of the global economy on the bond market. Financial expert Dimitris Chorafas discusses these issues in straightforward language for managers and professionals in commercial banks, securities houses, financial services companies, merchandising firms, manufacturing companies, and consulting firms, placing the mathematical treatment of the issues in the appendices, available for study but not necessary for understanding the business issues addressed in the book. Focuses on new issues of central importance in bond and debt trading today Uses clear, straightforward language for managers and professionals in business and industry, with mathematical treatment provided in appendices Thorough treatment of operational risk new to books on this topic

Issuing Government Bonds to Finance Bank Recapitalization and Restructuring

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451973667
Total Pages : 31 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Issuing Government Bonds to Finance Bank Recapitalization and Restructuring by : Mr.Michael Andrews

Download or read book Issuing Government Bonds to Finance Bank Recapitalization and Restructuring written by Mr.Michael Andrews and published by International Monetary Fund. This book was released on 2003-11-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bonds issued by the government or government agencies are often used to finance bank restructuring following a systemic crisis. Many conflicting considerations affect the design of the bonds used to pay for public sector investment in bank equity or the purchase of distressed assets from banks. Some bond features can leave restructured banks facing significant risks, laying the foundation for future banking sector problems. Sovereign default makes publicly financed bank restructuring more difficult, but it is still possible to carry out if banks receive sufficient interest income to provide a margin over their cost of funds.

Considerations for Bankers, and Holders of United States Bonds

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Author :
Publisher : Theclassics.Us
ISBN 13 : 9781230458410
Total Pages : 84 pages
Book Rating : 4.4/5 (584 download)

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Book Synopsis Considerations for Bankers, and Holders of United States Bonds by : Lysander Spooner

Download or read book Considerations for Bankers, and Holders of United States Bonds written by Lysander Spooner and published by Theclassics.Us. This book was released on 2013-09 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1864 edition. Excerpt: ... chapter vii. exchanges under the author'S system. It will be very easy, under the author's system, to give the currency a uniform value in all parts of the country; as follows: In the first place, where the capital shall consist of mortgages, it will be very easy for all the banks, in any State, to make their solvency known to each other. There would be so many banks, that some system would naturally be adopted for this purpose. Perhaps this system would be, that a standing committee, appointed by the banks, would be established, in each State, to whom each bank in the State would be required to produce satisfactory evidence of its solvency, before its bills should be received by the other banks of the State. When the banks, or any considerable number of the banks, of any particular State--Missouri for example--shall have made themselves so far acquainted with each other's solvency, as to be ready to receive each other's bills, they will be ready to make a still further arrangement for their mutual benefit, viz.: to unite in establishing one general agency in St. Louis, another in New Orleans, another in Chicago, another in Cincinnati, another in New York, another in Philadelphia, another in Baltimore, and another in Boston, where the bills of all these Missouri banks shall be redeemed. And thus the bills of all Missouri banks, that belonged to the Association, would be placed at par at all the great commercial points. Each bank, belonging to the Association, might print, on the back of its bills, "Redeemable at the Missouri Agencies, in St. Louis, Chicago, Cincinnati," &c. In this way all the banks of each State might unite to establish agencies in all the large cities for the redemption of their bills. The" banks might safely make...

Investment Banking

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Publisher : Springer-Verlag
ISBN 13 : 3663014487
Total Pages : 334 pages
Book Rating : 4.6/5 (63 download)

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Book Synopsis Investment Banking by : Thomas Reicheneder

Download or read book Investment Banking written by Thomas Reicheneder and published by Springer-Verlag. This book was released on 2013-03-08 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dieses Kapitel soll den Leser in die faszinierende Welt des Investment Banking einführen: Wer sind die Akteure? Was sind deren Aufgaben und Ziele? Wie beeinflussen wirtschaftliche, politische und rechtliche Rah menbedingungen die Tätigkeit der Investment Banker? Welche Institu tionen dominieren und wie ist deren Struktur? Obwohl nun viel über Investment Banker geschrieben wurde, ist man weit davon entfernt, Einigung über den Begriff Investment Banking zu erzielen. Zudem stellt »die Anglisierung des internationalen Investment Banking eine vollkommene Eroberung der Usancen, Termini und Stan dards der weltweiten Financial Community dar. Für einen Kulturkampf wider die Überfremdung der Begriffe ist schon deshalb keine Lanze zu brechen, weil dieser Kampf tatsächlich längst verloren ist. «l Von einer weiteren, den bisherigen Dschungel an Uneinheitlichkeit erweiternden Definition möchte ich daher Abstand nehmen. So ist denn auch die Auf gabe dieses Kapitels, welches sich mit folgenden Aspekten des Investment Banking des näheren auseinandersetzt, wenig beschreibender Natur: ~ Geschäftstätigkeiten der Investment Banker ~ Geschichte der Investmentbanken ~ Organisatorische Grösse und Struktur von Investmentbanken 1. 1. Geschäftstätigkeiten der Investment Banker Manche meinen, eine genaue Begriffsbestimmung erleichtere die Kom munikation; andere behaupten, Definitionen seien der Wahrheitsfindung hinderlich, da oftmals wichtige Aspekte ausgeklammert werden. Schliess lich definiert der Fortgeschrittene um zu kommunizieren, nicht um Wahrheiten zu erforschen. Auf der Suche nach der Wahrheit, gerät man denn auch auf Irrwege: Investment Banking Is What Investment Bankers Do.

Banking on Fraud

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Publisher : Transaction Publishers
ISBN 13 : 9780202364421
Total Pages : 332 pages
Book Rating : 4.3/5 (644 download)

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Book Synopsis Banking on Fraud by : Mary Zey

Download or read book Banking on Fraud written by Mary Zey and published by Transaction Publishers. This book was released on with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: In addressing these questions, Zey demonstrates how the ordinary networks developed through the buying and selling of bonds were linked to the extraordinary networks of the Boesky Organizations and Employee Private Partnerships to defraud bond issuers and buyers. Her analysis not only defines the networks as the avenues of power, but also traces the direction of the power relationships between corporations and investment bankers and between investment bankers and the congressmen relevant to banking interests. The book provides evidence that debunks the myth of rational economic organization in the 19805 and establishes broad implications for theories of organizational deviance.