Search results for "financial institutions"
showing 9 items of 9 documents
Notations et écarts de rentabilité : le marché français avant l'euro
2003
The main task of this paper is to confront two classical measures of default risk of the issuer, the rating and the spread. The first is attributed by agencies specialized in this activity (Standard and Poor's or Moody's) while the second results directly from the market price of the bond. This article studies this link over a period of two years for about forty French denominated bonds. Two measures of the spread are used and the results obtained show the very partial consideration of this information by the investors on the French bond market.
Procedūras cīņai ar naudas atmazgāšanu attīstītajās valstīs
2019
Maģistra darba mērķis ir izprast finanšu iestāžu, konkrētāk, banku un starpnieku uzņēmumu atšķirības un attieksmi saistībā ar cīņu pret naudas atmazgāšanu. Precīzāk, šī pētījuma mērķis ir padziļināti izpētīt finanšu iestāžu procedūras un kāpēc daudzas iestādes šo problēmu neuztver tik nopietni. Lai izpētītu šos mērķus, tika veikta virkne analīžu, un izvirzīti galvenie uzdevumi: •Izprast problēmas vēsturisko pamatu •Izpētīt naudas atmazgāšanas un analītiskās sistēmas apkarošanas metodes •Salīdzināt finanšu iestāžu pārstāvju izvēlētās metodes cīņai pret naudas atmazgāšanu Pētījums parādīja, ka ne visas finanšu iestādes sniedz atskaites saistībā ar aizdomīgiem darījumiem. Kā arī šķietami attīs…
Quantifying Structural Subsidy Values for Systemically Important Financial Institutions
2013
Abstract Claimants to Systemically Important Financial Institutions (SIFIs) would receive transfers when governments are forced into bailouts. Ex ante, this bailout expectation lowers SIFIs’ daily funding costs. The funding cost advantage reflects both the structural level of the government support and the time-varying market valuation for such a support. Based on a large worldwide sample of banks, we estimate the value of the structural subsidy, by exploiting expectations of state support embedded in credit ratings and by applying the long-run average value of the rating bonus. The value of the structural subsidy was already sizable, 60 basis points (bp), as of the end-2007, before the cri…
Another "French paradox": explaining why interest rates to microenterprises dit not increase with the change in French usury legislation
2015
Conventional wisdom indicates that the growth of credit may not materialize if credit rates remain capped by usury laws, as had long been the case in France. France therefore abolished usury ceilings on loans to microenterprise in an effort to increase financing for microentrepreneurs. This should have led to an increase in interest rates and increase in microcredit. However, we do not find any increase in interest rates and this is therefore a paradox. The paper provides a brief literature review and the salient features of the legislative changes in France. It follows this up with a presentation of interest rate movements. The discussion of possible explanations of the paradox includes cl…
Reflections on civil culpability and accountability in the destabilization of financial institutions
2010
PurposeThe purpose of this paper is to try and trace a new itinerary in the matter of the destabilization of financial institutions, i.e. the identification of a catalogue of measures that private law can offer in order to make sure that all unlawful initiatives resulting in the loss of credibility of financial markets and prejudice to the public at large do not escape the imposition of all possible liabilities.Design/methodology/approachThe matter here applied consists of the recourse to a number of experiences deriving from European legal systems that have tackled the phenomenon of unlawful attacks on the integrity of the financial markets through individual or organized acts. This compar…
Le banche italiane nel “secolo breve”. Riflessioni dalla storia dell’ABI, 1919-1991
2012
This article examines the developments occurred in the Italian banking system during the second half of the 20th century from the point of view of the banker’s major professional association, the Associazione Bancaria Italiana (ABI). Starting from the postwar reconstruction we shall describe ABI’s attitude on the changing trade-off between stability and competition, its ability to cope with the new problems arising from the 1970s crisis, the views expressed and the actions undertaken concerning the reform of the banking system during the 1980 and early1990s. In doing so we shall profit from a huge amount of archival sources emerging from two previous books that the authors published on the …
www.Personal_Asset_Allocation.
2004
Today consumers demand delivery of financial services anytime and anywhere, and their needs and desires are evolving rapidly. The World Wide Web provides a rich channel for distributing customized services to a range of clients. An Internet-based system developed by Prometeia S.r.l. for Italian banks—both traditional and e-banks—supports consumers and financial advisors in planning personal finances. The system provides advice on allocating personal assets to fund consumers' needs, such as paying for a house, children's education, retirement, or other projects. State-of-the-art models of financial engineering—based on scenario optimization—develop plans that are consistent with clients' go…
The London Stock Exchange: Strategic Corporate Governance Restructuring After Demutualization
2014
International audience; This study uses the London Stock Exchange (LSE), forced to demutualize due to major changes in its business environment, notably due to increased competition and technological advances, as field experiment to study corporate governance restructuring to adapt to new market conditions. The LSE improved its financial situation after demutualization and is an example of successful corporate governance restructuring. The LSE significantly restructured the composition of its board of directors following demutualization. The number of exchange members on the LSE board decreased after demutualization while the number of independent directors increased, pointing to a more “mo…
Financial institutions’ risk profile and contribution to the sustainable development goals
2021
This study analyses the impact of Spanish financial institutions’ risk profile on their contribution to the 2030 Agenda. Financial institutions play a significant role in ensuring financial inclusion and sustainable economic growth and usually incorporate environmental and social considerations into their risk management systems. The results show that financial institutions with less capital risk, with lower management efficiency and with higher market risk usually make higher contributions to the Sustainable Development Goals (SDGs), according to their sustainability reports. The novel aspect of the present study is that it identifies the risk profile of financial institutions that incorpo…