Tài chính doanh nghiệp - Chapter twenty two:Managing interest rate risk and insolvency risk on the balance sheetThe 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: 440 | Lượt tải: 0- Tài chính doanh nghiệp - Chapter twenty one: Managing liquidity risk on the balance sheet
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...
Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 527 | Lượt tải: 0 - Tài chính doanh nghiệp - Chapter twenty: Managing credit risk on the balance sheet
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: 527 | Lượt tải: 0 - Tài chính doanh nghiệp - Chapter nineteen: Types of risks incurred by financial institutions
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...
Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 535 | Lượt tải: 0 - Tài chính doanh nghiệp - Chapter eighteen: Pension funds
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funds invested are exempt from current taxation (i.e., during working years) tax payments are not made until funds are withdrawn by the participant (i.e., during retirement...
Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 496 | Lượt tải: 0 - Tài chính doanh nghiệp - Chapter seventeen: Mutual funds and hedge funds
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: 469 | Lượt tải: 0 - Tài chính doanh nghiệp - Chapter sixteen: Securities firms and investment banks
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: 468 | Lượt tải: 0 - Tài chính doanh nghiệp - Chapter fifteen: Insurance companies
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: 440 | Lượt tải: 0 - Tài chính doanh nghiệp - Chapter fourteen: Other lending institutions: savings institutions, credit unions, and finance companies
Historically referred to as Savings and Loans (S&Ls) Savings banks (SBs) appeared in the 1980s Specialize in long-term residential mortgages, which are usually financed with short-term deposits of small savers Faced a huge crisis during the 1982-1992 period that saw over half of all SIs fail
Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 428 | Lượt tải: 0 - Tài chính doanh nghiệp - Chapter thirteen: Regulation of commercial banks
Commercial banks provide many unique services information, liquidity, price-risk reduction, transaction cost, maturity intermediation, and payment services money supply transmission, credit allocation, intergenerational wealth transfers, and denomination intermediation Failure to provide these services can be costly to both users and suppliers o...
Chia sẻ: thuychi11 | Ngày: 01/02/2020 | Lượt xem: 464 | Lượt tải: 0
