An increasingly common method for lending institutions to demonstrate their commitment to and compliance with the Community Reinvestment Act of 1977 (CRA) and fair lending laws has been to enter into agreements with community groups and other entities to help ensure the flow of credit throughout their service area. Table 1 shows that the volume of loan pledges associated with these agreements, ...

Addressing the challenge of packet transmission in a wireless soft real-time system, we present ve splitting protocols that take packet deadlines into account. With them, connectionless service with real-time QoS guarantees at the MAC layer can be ooered. Three protocols are blocked access and two are free access algorithms. Mathematical models are developed and results compared with simulation...

Addressing the problem of packet transmission in a wireless soft real-time system, we present ve splitting protocols that take packet deadlines into account. We show, as in the case of non real-time splitting algorithms, that blocked access versions ooer higher success rates than free access ones. Of the two best performing blocked access protocols, performance under moderate to heavy loads fur...

This paper uses a structural model to understand, predict, and evaluate the impact of an exogenous microcredit intervention program, the Thai Million Baht Village Fund program. We model household decisions in the face of borrowing constraints, income uncertainty, and high-yield indivisible investment opportunities. After estimation of parameters using pre-program data, we evaluate the model’s a...

Access to credit markets is generally considered a hallmark of developed economies. In the United States, most households appear to have substantial ability to borrow; indeed, households in the United States have an average of over $23,000 in nonmortgage debt alone. Nevertheless, economists often point to limited borrowing opportunities for lower-income households to explain anomalous findings ...

A central question in emerging-market macroeconomics is what factors lead countries to accumulate excessive levels of external debt. It is often argued by economic observers and policymakers that emerging markets tend to overborrow when the lending decisions of foreign financial institutions are guided by rough indicators of the emerging country’s macroeconomic performance, and not by careful a...

The financial crisis of 2008 was triggered by a liquidity shortfall in the banking systems of major global economic players, which resulted in the collapse of large financial institutions and businesses, loss of jobs and lack of confidence in global economy. A number of developing countries (e.g., Nigeria) had long been experiencing liquidity shortfall in the banking system due to a highly disi...

This review of the pricing of credit swaps, a form of derivative security that can be viewed as default insurance on loans or bonds, begins with a description of the credit swap contract, turns to pricing by reference to spreads over the risk-free rate of par floating-rate bonds of the same quality, and then considers model-based pricing. The role of asset swap spreads as a reference for pricin...

K E Y W O R D S : agency, emergence, identity, ideology, indexicality, interaction, intersubjectivity, positioning, sociocultural linguistics, stance, style

The aim of this work is the implementation of pricing engine for Nth to default credit swaps. The pricing model we consider is the ”Li model” [Li, 2000]; our implementation is based on the techniques described in [Joshi and Kainth, 2004]. The model described in [Li, 2000] uses Gaussian Copulae to model asset correlation. It is well-known that Gaussian Copulas do not model satisfactorily tail de...