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corporate governance lesson taught by the financial crisis a research note

Tài liệu The Financial Crisis: A Timeline of Events and Policy Actions ppt

Tài liệu The Financial Crisis: A Timeline of Events and Policy Actions ppt

Tài chính doanh nghiệp

... certain AAA-rated asset-backedsecurities backed by newly and recently originated auto loans, credit card loans, student loans andsmall business loans that are guaranteed by the Small Business Administration. ... Bank of Canada, Bank ofEngland, Bank of Japan, Danmarks Nationalbank, ECB, Norges Bank, Reserve Bank of Australia,Sveriges Riksbank, and Swiss National Bank Swap lines outstanding now total $620 ... (TALF), explaining in detail the rationale and operation of the TALF. April 2, 2009 | FASB Press Release The Financial Accounting Standards Board approves new guidance to ease the accounting...
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Tài liệu Reading About the Financial Crisis: A 21-Book Review∗ docx

Tài liệu Reading About the Financial Crisis: A 21-Book Review∗ docx

Tài chính doanh nghiệp

... of the crisis taking place while he and the Treasury Department managed to weather the collapseof Bear Stearns, Lehman Brothers, Fannie Mae and Freddie Mac, and the financial near-apocalypse ... overlooked by academic readers, the journalistic accounts of the financial crisis are complementary in many ways t o their academic counterparts. If we return to the analogyof the financial crisis as a ... more than eight times the value of their annual compensation, and the amountof their personal wealth at risk prior to the financial crisis makes it improbable that a rationalCEO knew in advance...
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The Corporate Governance Lessons from the Financial Crisis docx

The Corporate Governance Lessons from the Financial Crisis docx

Tài chính doanh nghiệp

... The Corporate Governance Lessons from the Financial Crisis Grant Kirkpatrick * This report analyses the impact of failures and weaknesses in corporate governance on the financial crisis, ... they feel uncertain about the extent of the sophisticated financial instruments on the balance sheet and what the values are.” THE CORPORATE GOVERNANCE LESSONS FROM THE FINANCIAL CRISIS FINANCIAL ... employee. In support, he notes that the alleged fraud at Société Générale was undertaken by a staff member THE CORPORATE GOVERNANCE LESSONS FROM THE FINANCIAL CRISIS 26 FINANCIAL MARKET TRENDS ISSN...
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Tài liệu The German Banking System: Lessons from the Financial Crisis pptx

Tài liệu The German Banking System: Lessons from the Financial Crisis pptx

Ngân hàng - Tín dụng

... Three other Landesbanken exist, but they are majority-owned by other Landesbanken (such as Bremer Landesbank and Landesbank Saar) or are divisions of other Landesbanken (in the case of Landesbank ... from banks’ balance sheets and ensure that banks are adequately capitalized. The authorities should play an active role, by closely monitoring capital adequacy, notably including the application ... loan quality and higher insolvency risk than other banks. By contrast, Garcia Marco and Robles Fernandez (2008) find that Spanish commercial banks are less stable than Spanish savings banks and...
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Tài liệu Global imbalances and the financial crisis: Link or no link? docx

Tài liệu Global imbalances and the financial crisis: Link or no link? docx

Ngân hàng - Tín dụng

... Angola, Azerbaijan, Bahrain, Democratic Republic of Congo, Ecuador, Equatorial Guinea, Gabon, Iran, Kazakhstan, Kuwait, Libya, Nigeria, Norway, Oman, Qatar, Russia, Saudi Arabia, Sudan, Syrian Arabic ... Ecuador, Equatorial Guinea, Gabon, Iran, Kazakhstan, Kuwait, Libya, Nigeria, Norway, Oman, Qatar, Russia, Saudi Arabia, Sudan, Syrian Arabic Republic, Trinidad and Tobago, United Arab Emirates, ... market and natural rates. Arguably, a gap may manifest itself in ways other than inflation. In fact, the last decade has seen a major credit (and asset price) boom even as inflation has remained...
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Tài liệu POLICY BRIEFS ON THE FINANCIAL CRISIS: AN UPDAATE ON THE IMPACT OF THE FINANCIAL CRISIS ON AFRICAN ECONOMIES ppt

Tài liệu POLICY BRIEFS ON THE FINANCIAL CRISIS: AN UPDAATE ON THE IMPACT OF THE FINANCIAL CRISIS ON AFRICAN ECONOMIES ppt

Tài chính doanh nghiệp

... Liberia,Malawi, Nigeria, Rwanda, Sao Tome & Principe,Sierra Leone, ZambiaBenin, Burkina Faso, Cape Verde, Chad, Djibouti,Ethiopia, Ghana, Guniea Bissau, Mauritania,Mauritius, Sychelles, Tanzania, ... An Update on the Impact of the Financial Crisis on African EconomiesMeeting of the Committee of Finance Ministersand Central Bank GovernorsDar Es-Salaam, TanzaniaMarch 11, 2009AFRICAN DEVELOPMENT ... Tanzania, ZimbabweTunisia, Morocco, Uganda, Cameroon, Swaziland,Equatorial GuineaAlgeria, Botswana, Gabon, Lybia, Namibia 65. Questions for consideration1. Should fiscal targets used in the...
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DANMARKS NATIONALBANK WORKING PAPERS: Liquidity of Danish Government and Covered Bonds – Before, During and After the Financial Crisis – Preliminary Findings doc

DANMARKS NATIONALBANK WORKING PAPERS: Liquidity of Danish Government and Covered Bonds – Before, During and After the Financial Crisis – Preliminary Findings doc

Ngân hàng - Tín dụng

... Working Papers are not translated, but are available in the original language used by the contributor. Danmarks Nationalbank's Working Papers are published in PDF format at www.nationalbanken.dk. ... was an agreement between the Danish Insurance Association and the Ministry of Economic and Business Affairs targeting the pension area. The aim was to ensure that the widening of the spread ... of the market value of all large trades in a given month divided by the average of the outstanding nominal amounts at the beginning and the end of the month. 4.3. Bid-ask spread (Roll) As the...
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THE FINANCIAL CRISIS INQUIRY REPORT - Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States docx

THE FINANCIAL CRISIS INQUIRY REPORT - Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States docx

Ngân hàng - Tín dụng

... paper, millions of Americans traded away decades of eq-uity tucked away in their homes.Under the radar, the lending and the nancial services industry had mutated. In the past, lenders had avoided ... cheap sangria,” said Michael Mayo, a managing director and nancial services analyst at Calyon Securities (USA) Inc. A lot of cheap ingredients repackaged to sell at a premium,” he told the ... LernerJane E. LewinSusan MandelJulie A. MarcacciAlexander MaasryCourtney MayoCarl McCardenBruce G. McWilliamsMenjie L. MedinaJoel MillerSteven L. MintzClara MorainGirija NatarajanGretchen...
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The Financial Crisis and Information Gaps: Progress Report Action Plans and Timetables pptx

The Financial Crisis and Information Gaps: Progress Report Action Plans and Timetables pptx

Tài chính doanh nghiệp

... disseminates annual financial accounts and balance sheet data for many of its member countries. (See the attached table layout). Eurostat disseminates annual financial accounts and balance sheet data ... The Financial Crisis and Information Gaps” prepared by the Financial Stability Board (FSB) Secretariat and International Monetary Fund (IMF) staff. They requested the FSB Secretariat and the ... financial and non -financial assets is generally lacking. With respect to sectoral financial balance sheet and financial account, all G-20 advanced economies (bar one) disseminate these data...
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The Financial Crisis and Information Gaps: Implementation Progress Report potx

The Financial Crisis and Information Gaps: Implementation Progress Report potx

Tài chính doanh nghiệp

... finance, securities, and external data, as described in paragraph 14, based on the 2008 SNA; agree on modalities for the organized data flow and data quality management among the international ... exchange rates (REER) are not disseminated for all G-20 economies, while the data are generally available at the IMF. However, contrary to other data in the PGI, REER are calculated by the IMF rather ... private sector, national, and international authorities.  Ensuring appropriate access to data as macroprudential analysis needs more granular data than has been required for macroeconomic analysis....
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THE INTERNATIONAL MONETARY SYSTEM AFTER THE FINANCIAL CRISIS pot

THE INTERNATIONAL MONETARY SYSTEM AFTER THE FINANCIAL CRISIS pot

Tài chính doanh nghiệp

... INTERNATIONAL MONETARY SYSTEM AND GLOBAL MACROECONOMIC AND FINANCIAL STABILITYAll in all, it appears that, at least until the onset of the fi nancial crisis, the main actors in the IMS paid no ... ON THE ROLE PLAYED BY THE INTERNATIONAL MONETARY SYSTEM IN THE GLOBAL FINANCIAL CRISIS 1.2.1 OVERVIEWThere is widespread agreement that the fi nancial crisis was both triggered and propagated ... Authorityof SingaporePeople’sBank of ChinaBank of JapanEurosystemBank of KoreaNational Bankof DenmarkCentral Bank of IcelandNational Bank of PolandMagyar Nemzeti BankSwiss National BankNorges...
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Changing Nature Of Financial Intermediation And The Financial Crisis Of 2007-09 pptx

Changing Nature Of Financial Intermediation And The Financial Crisis Of 2007-09 pptx

Quản lý dự án

... deeper into the role of such market-based financial intermediaries in the modern financial system. The answers are revealing. In a market-based financial system, banking and capital market developments ... put marketable assets at the heart of the financial system and (b) the increased sophistication of financial institutions that held and traded the assets. To be sure, any substantial fall in house ... changed, so has the mode of financial intermediation. A characteristic feature of financial intermediation that operates through the capital market is the long chain of financial intermediaries involved...
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WORKING PAPER SERIES NO 1394 / NOVEMBER 2011: BANK RISK DURING THE FINANCIAL CRISIS DO BUSINESS MODELS MATTER? pot

WORKING PAPER SERIES NO 1394 / NOVEMBER 2011: BANK RISK DURING THE FINANCIAL CRISIS DO BUSINESS MODELS MATTER? pot

Ngân hàng - Tín dụng

... from the average values calculated on the basis of quarterly data for the pre -crisis or the crisis period. Variables accounting for bank risk are calculated from the average values for each bank ... are calculated from the country averages of quarterly data for the pre -crisis period already mentioned. The Alpha_edf and Beta_edf variables accounting for managerial performance are calculated ... mentioned. The Alpha_edf and Beta_edf variables accounting for managerial performance are calculated from the averages for individual banks for the pre -crisis and crisis periods. *, ** and *** indicate...
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Weathering the financial crisis: good policy or good luck? docx

Weathering the financial crisis: good policy or good luck? docx

Tài chính doanh nghiệp

... excellent research assistance. We thank Luc Laeven and Fabian Valencia for sharing their database of crises, and Philip Lane and Gian Maria Milesi-Ferretti for sharing their database on countries’ ... Ontario and was a Senior Economist at the BIS at the time of writing. Yetman is a Senor Economist at the BIS. We thank participants and especially the discussants, Larry Hatheway and Richard ... qualified as regulatory capital under Basel II and the variation across countries, we focus on the broadest measure of capitalisation, namely the ratio of total capital-to-risk weighted assets....
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