Market interest rates

The operational procedures of the Bank of Greece underwent major changes during the 1990s. These shifts in operational strategy made interest rates the main tool of monetary policy for the first time in Greece. This paper examines the effects of changes in the bank’s operational interest rates on market interest rates at eight maturities and for different operational regimes. A major feature of our study is the application of the event study methodology used in finance, which has not been employed in any previous study on this subject.

18p grintokyro 05-11-2015 70 2   Download

Chapter 3 Structure of Interest Rates: describe how characteristics of debt securities cause their yields to vary, demonstrate how to estimate the appropriate yield for any particular debt security, explain the theories behind the term structure of interest rates.

31p phanthphan 30-01-2015 81 11   Download

Chapter 13 Financial Futures Markets: provide a background on financial futures contracts, explain how interest rate futures contracts are used to speculate or hedge based on anticipated interest rate movements,...

37p phanthphan 30-01-2015 102 10   Download

Chapter 2 Determination of Interest Rates: apply the loanable funds theory to explain why interest rates change, identify the most relevant factors that affect interest rate movements, explain how to forecast interest rates.

29p phanthphan 30-01-2015 68 6   Download

Chapter 19 Bank Management: describe the underlying goal, strategy, and governance of banks, explain how banks manage liquidity, explain how banks manage interest rate risk, explain how banks manage credit risk, explain integrated bank management.

45p phanthphan 30-01-2015 60 8   Download

CBRE MARKET UPDATE Da Nang Q1/2012 Presented by: THAO LE Da Nang Research Opening Remarks from: TIEN CAO Da Nang Research ADAM BURY Senior Manager CB Richard Ellis (Vietnam) Co., Ltd. Friday, April 20th, 2012 .OPENING WORDS Da Nang 2012 – Continued Signs of Growth Hyatt Regency Da Nang Da Nang International Airport The Summit All Pictures – Source: CBRE Vietnam. Date 19th April, 2012 Harmony Tower MARKET INSIGHTS FROM CBRE’s DA NANG QUARTERLY UPDATES | APRIL 2012 2 CBRE RESEARCH & CONSULTING .

20p hoadat_1990 12-07-2013 120 5   Download

Open market operations Affect the quantity of reserves and the monetary base Changes in borrowed reserves Affect the monetary base Changes in reserve requirements Affect the money multiplier Federal funds rate—the interest rate on overnight loans of reserves from one bank to another Primary indicator of the stance of monetary policy

23p sony_12 25-06-2013 82 15   Download

CORPORATE HEDGING: CURRENCY DERIVATIVES AND INTEREST RATE DERIVATIVES USE BEFORE AND AFTER SFAS 133 Market equilibrium is defined as a set of housing prices and a rule assigning families to districts on the basis of their income that is consistent with individual family preferences, taking all other families’ decisions as fixed:

114p mualan_mualan 25-02-2013 61 7   Download

The observed market rate of interest is the sum of the utility discount factor (reflecting impatience) and the utility growth factor (reflecting diminishing marginal utility of consumption).

29p muaxuan102 21-02-2013 56 6   Download

We have been assuming that if your income stream is Y1,Y2, your consumption stream must be the same. And if you invest, your consumption stream must be C1,C2. However, by lending or borrowing at the market rate of interest, you can choose any point on the net present value line through A (if you don’t invest), or through B (if you do invest).

25p muaxuan102 21-02-2013 70 11   Download

The budget deficit equivalent to total government spending tax minus total government spending revenue.If income tax independently, but depend on the net income, • Why does society need money? • Why do governments wish to influence money supply? • How do financial markets interact with the ‘real’ economy? • What is the relationship between money and interest rates?

11p nhatro75 09-07-2012 66 10   Download

Certainty Equivalent Approach Steps: 1) Adjust all after-tax cash flows by certainty equivalent factors to get certain cash flows. 2) Discount the certain cash flows by the risk-free rate of interest. How do we determine the appropriate risk-adjusted discount rate (k*) to use? Many firms set up risk classes to categorize different types of projects.

24p huynhcongdanh 12-06-2012 89 28   Download

Bonds pay fixed coupon (interest) payments at fixed intervals (usually every 6 months) and pay the par value at maturity. Debentures - unsecured bonds. Subordinated debentures - unsecured “junior” debt. Mortgage bonds - secured bonds. Zeros - bonds that pay only par value at maturity; no coupons. Junk bonds - speculative or below-investment grade bonds; rated BB and below. High-yield bonds. Eurobonds - bonds denominated in one currency and sold in another country. (Borrowing overseas). example - suppose Disney decides to sell $1,000 bonds in France. These are U.S.

54p huynhcongdanh 12-06-2012 113 28   Download

The Importance of Market Efficiency Understanding the If and How the EMH Principal can Affect Shareholder Wealth • Understanding how securities are valued is important because these valuation principles provide guidelines to managers how they should manage businesses on behalf of the shareholders. • It is the legal requirement and managerial responsibility for managers to act in the owners’ best interest.

21p dauxanhnguyenhuong 28-09-2011 87 8   Download

Tài liệu mônThị trường tài chính và các định chế tài chính- Chapters " Interest Rate Derivative Markets" dành cho các bạn sinh viên, học viên đang theo học ngành kinh tế, chuyên ngành tài chính: tài chính doanh nghiệp, taì chính ngân hàng, tài chính tiền tệ,...

39p jenny2202 28-01-2010 170 108   Download

Loanable Funds Theory Loanable funds theory suggests that the market interest rate is determined by the factors that affect the supply of and demand for loanable funds. Can be used to explain movements in the general level of interest rates of a particular country. Can be used to explain why interest rates among debt securities of a given country vary.

31p jenny2202 27-01-2010 382 215   Download

In December of 1981, the Chicago Mercantile Exchange (CME) introduced a futures contract based on 3-month Eurodollar interest rates. In the nearly twenty years since its inception, this contract has become one of the most versatile trading and hedging vehicles offered on the listed marke t s .The contract re p resents a $1,000,000, 3-month London Interbank Offered Rate (LIBOR) deposit. CME Eurodollar futures a re cash-settled, t h e re fo re, t h e re is no delive ry of a cash instrument upon expiration because cash Eurodollar time deposits are not transferable....

4p duypha 16-07-2009 146 22   Download

Knowledgeable consumers who make informed choices are essential to an effective and efficient marketplace. In classical economics, informed consumers provide the checks and balances that keep unscrupulous sellers out of the market.

14p songngoc 12-03-2009 191 30   Download