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FIs use loan sales and securitization to hedge credit, interest rate, and liquidity risk exposure A loan sale occurs when an FI originates a loan and then subsequently sells it Loan securitization is the packaging and selling of loans and other assets backed by securities issued by an FI Loan securitization generally takes one of three forms pa...

Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 536 | Lượt tải: 0

Managers are increasingly turning to off-balance-sheet (OBS) instruments such as forwards, futures, options, and swaps to hedge the risks their financial institutions (FIs) face interest rate risk foreign exchange risk credit risk FIs also generate fee income from derivative securities transactions

Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 526 | Lượt tải: 0

The asset transformation function performed by financial institutions (FIs) often exposes them to interest rate risk FIs use (at least) two methods to measure interest rate exposure the repricing model (a.k.a. the funding gap model) examines the impact of interest rate changes on net interest income (NII) the duration model examines the impact o...

Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 516 | Lượt tải: 0

Unlike other risks, liquidity risk is a normal aspect of the everyday management of financial institutions (FIs) At the extreme, liquidity risk can lead to insolvency Some FIs are more exposed to liquidity risk than others depository institutions (DIs) are highly exposed mutual funds, pension funds, and property-casualty insurers have relativel...

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Financial institutions (FIs) are special because of their ability to transform financial claims of household savers efficiently into claims issued to corporations, individuals, and governments FIs’ ability to process and evaluate information and control and monitor borrowers allows them to transform these claims at the lowest possible cost to all ...

Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 647 | Lượt tải: 0

One of the major objectives of a financial institution’s (FI’s) managers is to increase the FI’s returns for its owners Increased returns often come at the cost of increased risk, which comes in many forms: credit risk – foreign exchange risk liquidity risk – country or sovereign risk interest rate risk – technology risk market risk – operati...

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Pension funds (PFs) offer savings plans through which participants accumulate tax deferred savings during their working years before withdrawing them in their retirement years funds invested are exempt from current taxation (i.e., during working years) tax payments are not made until funds are withdrawn by the participant (i.e., during retirement...

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Mutual Funds (MFs) and Hedge Funds (HFs) are financial institutions (FIs) that pool the financial resources of individuals and companies and invest those resources in portfolios of assets The first MF was established in Boston in 1924 By 1970 360 MFs held about $50 billion in assets Money market mutual funds (MMMFs) were introduced in 1970 Tax-...

Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 582 | Lượt tải: 0

Investment banks (IBs) help corporations and governments raise capital through debt and equity security issues in the primary market underwriting is assisting in the issue of new securities IBs also advise on mergers and acquisitions (M&As) and corporate restructuring Securities firms assist in the trading of securities in secondary markets bro...

Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 578 | Lượt tải: 0

The primary function of insurance companies is to compensate policyholders if a prespecified event occurs, in exchange for premiums paid insurance underwriters assess and price risk insurance brokers sell insurance contracts for coverage or for a policy Insurance is broadly classified into two groups life insurance provides protection against u...

Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 536 | Lượt tải: 0