determinants of the interest rate margins of austrian banks

Determinants of the interest rate pass-through of banks − evidence from German loan products pptx

Interest Rate Options - A discussion of how investors can help control interest rate exposure and make the most of the interest rate market pdf

... based upon their views on the direction of interest rates.What are interest rate options? Interest Rate Options are options on the spotyield of U.S. Treasury securities. Available tomeet the investor’s ... estimate of the yield of the underlying instruments atexpiration of the options; or, in other words, the market’s best estimate of the exercise-settlement value at expiration, that is, off the forward ... for the option position tobecome profitable.In the following examples, we present a variety of possible option strategies for different interest rate forecasts. These are only a few of the strategies...

WORKING PAPER NO. 40 FINANCIAL STRUCTURE AND THE INTEREST RATE CHANNEL OF ECB MONETARY POLICY pptx

Danh mục: Ngân hàng - Tín dụng

... of the present value is, again, the long-term interest rate. The lower the level of long-term interest rates, the higher the impact of a change in the long-term rate on the underlying value of ... 200021 The price of stocks is also highly sensitive to interest rates. The share price is usually defined as the present value of the future stream of dividends. The discount rate used in the computation ... than the same sector in the other countries.3.2 Recent evidence on the reference maturity and the effective interest rate This section briefly outlines the determinants of the effective interest...

Tài liệu IMPACT OF BANK COMPETITION ON THE INTEREST RATE PASS-THROUGH IN THE EURO AREA pptx

Danh mục: Ngân hàng - Tín dụng

... all the bank and market interest rate series used. The IPS test on the null hypothesis of a unit root cannot be rejected at the 5% significance level for either the bank rates or the market rates, ... bank interest rates are lower and that the pass-through of market rates is stronger, the heavier competition is. We find evidence of the latter in our error correction model of bank interest rates. ... prices, such as wage rates, deposit rates (as price of funding) and the price of other expenses (proxied as the ratio of other expenses to fixed assets). The third group consists of (K-K1-K2)...

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Bank of England Interest Rate Announcements and the Foreign Exchange Market ∗ doc

Danh mục: Ngân hàng - Tín dụng

... behavior of market participants in the various segments of the foreign exchangemarket. In this paper, we have isolated the impact of knee-jerktrading on the volatility of returns around the time of ... and Taylor (2004) in their high-frequency study of the exchange rate eﬀects of ECB interest rate announcements, suggest-ing that they are robust.18An interesting extension of our results would ... Surprise Measures The table contains interest rate decisions of the MPC for the period June 1997–October 2007. “Bloomberg Expectation” refers to the interest rate change predicted by the median expectation...

THE USE OF DERIVATIVES TO MANAGE INTEREST RATE RISK IN COMMERCIAL BANKS docx

Danh mục: Ngân hàng - Tín dụng

... of the mortgages. The proceeds of the sales of the notes can be used to pay of the CDs and reduce the duration gap. Alternatively the thrift can buy a swap and take the fixed payment side of ... changes in interest rates requires the ability to forecast interest rates better than the rest of the market (Schaffer, 1991). The challenge for banks is thus not only to forecast interest rate risk, ... floating rate, positive cash flows are generated by the particular in-terest rate derivative when the interest rates rise. If the hedge is perfect, then the losses in the cash market will be offset...

Methods of Policy Accommodation at the Interest-Rate Lower Bound ppt

Danh mục: Ngân hàng - Tín dụng

... 90-day rate n + 1 quarters in the future), with the relative weightson the two proxies determined to maximize the fraction of the variance of the changes in the futures rate that is explained by the ... under the control of the central bank, regardless of the level of overnight interest rates — should stimulate increased aggregate nominalexpenditure, regardless of whether overnight interest rates ... after the supply of bank reserves is already great enough to drive short-term interest rates down to the level of the rate of interest paid on reserves (or to zero, ifthere is no interest on reserves),...

Forecast uncertainty and the Bank of England interest rate decisions ppt

Danh mục: Ngân hàng - Tín dụng

... bymeans of a reasonable significance level. Despite variations of the responses across the con-ditional distribution of both the MPC interest rate decisions and the memb er interest rate average, these ... mightaffect the interest rate decisions, they should be incorporated into the estimation model. Thisstudy therefore focuses on the impact of forecast uncertainty on the strength of the relationshipbetween ... relationshipbetween the MPC’s own forecasts and the interest rate decisions of the MPC on the officialBank Rate. The data used are the historical forecasts for British CPI inflation and for the annual growth rates...

WORKING PAPER NO. 218 THE ZERO-INTEREST-RATE BOUND AND THE ROLE OF THE EXCHANGE RATE FOR MONETARY POLICY IN JAPAN potx

Danh mục: Ngân hàng - Tín dụng

... downward bias in the variability of the real rate depending on the level of the nominal equilibrium rate of interest. The downward bias in the variability of the real rate accounts for the reduced ... above, the distortion of output and inﬂation distributions is driven by adistortion of the real interest rate. The left-hand panels of Figure 5 report the upward biasin the mean real rate and the ... premium.Thus, as soon as the exchange rate peg has become credible the nominal interest rate willjump to the level of the foreign rate and the period of zero interest rates will end.Here we allow for...

Determinants of interest rate exposure of Spanish banking industry potx

Danh mục: Ngân hàng - Tín dụng

Derivative Exposure and the Interest Rate and Exchange Rate Risks of U.S. Banks ppt

Danh mục: Ngân hàng - Tín dụng

Metaphor, based on the association of similarity, is one of the two basic types of semantic transference that have been an interest for many linguistic researchers

Danh mục: Thạc sĩ - Cao học

... meanings, which can influence the establishment and maintenance of the interpersonal relationship between the speaker and the listener and affect the fulfillment of the goal of the verbal interaction.6 ... of the processes, i.e. the ideational grammatical metaphor is a more metaphorical way of expressing the meaning at the level of experience. The interpersonal grammatical metaphor, on the other ... (1997: 7-8)5. 3 The nominal group The metafunctional organization of the grammar that we illustrated above for the clause applies to the other ranks as well. For example, the nominal group...

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An Analysis of OTC Interest Rate Derivatives Transactions: Implications for Public Reporting docx

Danh mục: Ngân hàng - Tín dụng

... reflect the higher interest rate sensitivity of longer-dated swap transactions. One measure of the interest rate sensitivity of a swap is the “dollar value of a basis point” or DV01. The DV01 ... 8 The fixed and floating rates are usually set at the inception of the trade such that the net present value of the swap is zero. Page11 of 21to the level of the global parent.22 ... alternative means of acquiring long-term interest rate exposure. At the short end of the curve, trading is much more active on-exchange, with the exception of the euro OIS market. The absence of a liquid...

THE ECONOMICS OF THE EXCHANGE RATE

Danh mục: Kinh tế - Quản lý

... tế vĩ môĐề tài: THE ECONOMICS OF THE EXCHANGE RATE MARK P. TAYLORSinh viên thực hiện: MAI THU THỦYLớp: Đêm 6_ Khóa 20 TP. HỒ CHÍ MINH 09/2011 The Economics of Exchange Rate – Mark P. Taylor ... đến đỉnh cao nhất hoặc đáy Trang 4 The Economics of Exchange Rate – Mark P. Taylor trên chỉ ra mối liên hệ giữa tỷ giá cân bằng (equibilibrium exchange rate ) với một số biến vĩ mô quan trọng ... tệ nào đó. Hai là những sai lầm trong kỳ vọng hợp lý của người tham gia Trang 1 The Economics of Exchange Rate – Mark P. Taylor thị trường khi họ kỳ vọng quá mức vào một cơ hội kinh doanh....

Monetary Policy under Zero Interest Rate: Viewpoints of Central Bank Economists doc

Danh mục: Ngân hàng - Tín dụng

... necessarily represent the official stance of the BOJ. II. Conduct of Zero Interest Rate PolicyIn the following, we review the characteristics of the zero interest rate policy pursuedby the BOJ from ... in the case of an experiment to discover whether long-term interest rates are controllable, significant factors on the effectiveness of the operationinclude not only the question of whether the ... a decline in the risk-taking capacity of banks resulting from the erosion of their capital due to nonperforming assets; (2) the lack of profitable projects; and (3) the inability of many firms...

Báo cáo khoa học: The effect of pH on the initial rate kinetics of the dimeric biliverdin-IXa reductase from the cyanobacterium Synechocystis PCC6803 pptx

Danh mục: Báo cáo khoa học

The Exchange Rate Exposure of U.S. and Japanese Banking Institutions potx

Danh mục: Ngân hàng - Tín dụng

Working PaPer SerieS no 1273 / DeCeMBer 2010: intereSt rate effeCtS of DeMograPhiC ChangeS in a neW-keyneSian life-CyCle fraMeWork pptx

Danh mục: Ngân hàng - Tín dụng

Evidence on Interest Rate Channel of Monetary Policy Transmission in India ppt

Danh mục: Ngân hàng - Tín dụng

A study of the english translational versions of tring cong son's songs in terms of semantic and syntactic features

Danh mục: Khoa học xã hội

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