The market for securitized commercial mortgages is still fairly new, dating back only to the mid-1990s. As the market developed, and both rating agencies and investors became more comfortable with the product and the associated risks, the level of credit support behind given tranches steadily declined. At the same time on-the-run spreads also declined. This paper develops a series of models of ...

Trade credit financing has become a powerful tool to improve sales & profit in an industry. In general, a supplier/retailer frequently offers trade credit to its credit risk downstream member in order to stimulate their respective sales. This trade credit may either be full or partial depending upon the past profile of the downstream member. Partial trade credit may be offered by the supplier/r...

This paper develops a structured dynamic factor model for the spreads between London Interbank O¤ered Rate (LIBOR) and overnight index swap (OIS) rates for a panel of banks. Our model involves latent factors which re‡ect liquidity and credit risk. Our empirical results show that surges in the short term LIBOR-OIS spreads during the 2007-2009 …nancial crisis were largely driven by liquidity risk...

Financial Education is the new feature in General Curriculum of Mathematics 2018 and focused throughout curriculum, from elementary to high school. This article would like clarify concepts related financial education provide pedagogical measures integrate into teaching schools. An experiment exponential functions improved literacy for grade 12th students using credit cards shows realizable effe...

risk without thinking about technology risk. Workflow-based applications, system-driven notifications and databases with web front ends are proliferating, and they make operational processes indistinguishable from the systems on which they run. A failure in the process of creating a loss event can almost inevitably be tracked down to a technology control that was not designed well or that faile...

Banking is inevitably associated with risks. No matter what efforts the bank makes to minimize risks, they will always exist – only question extent. Lending operations are among most profitable types of banking, but a high level risk. The instability economic situation in country, imperfection legal framework this area necessitate detailed study problems minimizing credit It should be noted tha...

The respective study covers three aspects; factors determining credit rating, credit rating impact on performance of entities and the relation between stock returns and credit rating. The study focuses on the firms listed in Taiwan Stock Exchange (TSE) of Taiwan. The empirical analysis uses the data of 50 firms rated by Taiwan Ratings Corporation (TRC) for the period 2010-2015. Two estimation t...

This paper discusses the possible uses of survivor swaps as instruments for managing, hedging and trading mortality-dependent risks. Survivor swaps are attractive instruments for insurance companies that need to manage their mortality risks, but also offer banks, securities firms, hedge funds and other interested parties an easy avenue into the acquisition of mortality risk exposure. The paper ...