The East Asian ®nancial crisis had a major impact on the regional operations of banks, and in particular investment banks. As the ®nancial crisis deepened during 1997 and 1998, numerous European and North American banks began to restructure their organizational capabilities in capital markets, foreign exchange, securities, and project ®nance, as they became exposed to bad debts and reductions i...

OF THE U.S., various years; and manufacturing data are calculated frorm THE ECON. REP. OF THE PRESIDENT 391 (1991). 8. See ROBERT E. LrrAN, THE REVOLUTION IN U.S. FINANCE 11 (1991). The Yale Journal on Regulation readily traded on the open market). A much broader range of banks, however, have felt the sting of the second form of securitization: Wall Street's transformation of formerly illiquid ...

The research provides a systematic method for assessing the financial performance of the banks. The analysis is based on a set of benchmarks related to the financial performance of the banks. In this regard, this research has explored a model for evaluating accepted banks in Tehran Stock Exchange using the data envelopment analysis method. The purpose of this research is to apply the research m...

redit arrangements between a borrower and a lender are a prevalent part of the economy. A fundamental concern for any lender is the risk that the borrower fails to fully repay the loan as expected, a type of risk called credit risk. Thus, lenders want credit arrangements that are designed to compensate them for— and help them effectively manage—credit risk. In certain situations, central banks ...

In the conditions of martial law, Ukrainian banks have reduced their credit activity, which is largely due not to deterioration resource base, but increase in risks. State-owned were most vulnerable shock caused by war. There too large a share bank income total interest from securities transactions, for some it so that more line with investment business model. Very investments government carry ...

We measure the repo funding extended by money market funds (MMF) and securities lenders to the shadow banking system, including quantities, haircuts, and repo rates by type of underlying collateral. We find that repo played only a small role in funding private sector assets prior to the crisis, as most repos are backed by Treasury and Agency collateral. Repo with private sector collateral contr...

Collateralized loan obligation (CLO) volume has increased significantly over the past two years (see chart, page 2). Third-quarter 1997 issuance hit a record-breaking $25.5 billion, more than doubling the 1996 volume of $11.5 billion. Furthermore, by year end, it is estimated that the total volume for collateralized bond obligations (CBOs) and CLOs will reach $35 billion– $40 billion. With larg...

ABX.HE indexed credit default swaps on baskets of mortgage-backed securities are now the main benchmark used by financial institutions to mark their subprime mortgage portfolios to market. However, we find that current prices for the ABX.HE indices are inconsistent with any reasonable assumption for mortgage default rates, and that ABX.HE price changes are only very weakly correlated with obser...