Tài liệu Khối Ngành Kinh Tế

Managers are naturally inclined to act in their own best interests. But the following factors affect managerial behavior: Managerial compensation plans Direct intervention by shareholders The threat of firing The threat of takeover

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The underlying asset is that which you have the right to buy or sell (with options) or the obligation to buy or deliver (with futures) Listed derivatives trade on an organized exchange such as the Chicago Board Options Exchange or the Chicago Board of Trade

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Other services may include: discount brokerage service - purchase/sale of individual direct securities, such as stocks and bonds. Transaction Accounts - check writing and/or debit card relationship to mutual fund. Pension fund management for businesses

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The brokerage function is to bring a buyer and seller together. Dealer function - buying (bid) and selling (ask) from an inventory of securities owned by the seller. Providing loans to customers, who invest the margin proportion and borrow the rest. Dealer security inventories and customer credit are financed by bank call loans and repurchase ag...

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Popular in the 1990’s with rapid growth in equity values. Fixed-premium Insured direct investment of cash values Guaranteed death benefit No guaranteed cash value

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Mutual institutions organized much like a club with each member(share owner) having a vote to elect the board of directors. Membership requires a common bond (e.g., same employer, church, trade association). Credit Union Assets have grown steadily in recent years.

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Insurance Agencies as “Police”: Depositors aren’t worried. They have no incentive to withdraw funds from an institution even if it is taking many risks. Deposit insurance funds must thus have a “police” mentality—try to protect the public who no longer protect themselves. This is a major reason institutions must be regularly examined. Stockholders...

39 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 773 | Lượt tải: 0

Pricing The interbank rate in London is called the LIBOR or London Interbank Offered Rate. Nonbank borrowers pay above the LIBOR. The interest rate paid to time deposits and the rate charged borrowers will be tied to the interest rate levels of the country and currency used to denominate the deposit and loan. Lending rates are fixed for the st...

30 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 1074 | Lượt tải: 0

Liability-sensitive with negative maturity GAP; positive duration GAP;--hurt by rising rates: Sell financial futures--increasing rates would increase value of futures contracts, offsetting the negative impact of GAP situation Buy put options on financial futures Swap long-term, fixed-rate payments for variable-rate payments Shorten repricing of...

46 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 816 | Lượt tải: 0

Compensating balances-- Bank requires borrower to carry minimum balance in non-interest-bearing deposit account; effective return increases because net loan amount is lower Other nonprice adjustments— Risk reclassification Additional collateral or specified collateral Shorter maturities

39 trang | Chia sẻ: huyhoang44 | Ngày: 27/03/2020 | Lượt xem: 851 | Lượt tải: 0