Thư viện tài liệu, ebook tổng hợp lớn nhất Việt Nam

The mortgage contract should specify: Whether the mortgage is federally insured The amount of the loan Whether the interest rate is fixed or adjustable The interest rate to be charged The maturity Other special provisions

44 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 912 | Lượt tải: 0

Duration (cont’d) Estimation errors from using modified duration If investors rely only on modified duration to estimate percentage price changes in bonds, they will tend to overestimate price declines and underestimate price increases To accurately estimate the percentage change in price, bond convexity must also be considered

38 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 858 | Lượt tải: 0

Treasury bond quotations Published in financial newspapers The Wall Street Journal Barron’s Investor’s Business Daily Bond quotations are organized according to their maturity, with the shortest maturity listed first Bid and ask prices are quoted per hundreds of dollars of par value Online quotations at

38 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 1103 | Lượt tải: 0

Federal funds (cont’d) Two depository institutions communicate directly through a communications network or through a federal funds broker The lending institution instructs its Fed district bank to debit its reserve account and to credit the borrowing institution’s reserve account by the amount of the loan Commercial banks are the most active pa...

44 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 932 | Lượt tải: 0

How the Fed uses indicators The Fed uses indicators to anticipate how economic conditions will change and then determines what monetary policy would be appropriate Weak economic conditions suggest an expansionary monetary policy High productivity and employment suggest a restrictive monetary policy

36 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 857 | Lượt tải: 0

Comparison of monetary policy tools The most frequent monetary policy tool is open market operations Open market operations can be used without signaling the Fed’s intentions and can be easily reversed Adjustments in the discount rate only work if depository institutions respond to the adjustment Adjustments in the reserve requirement ratio can...

35 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 865 | Lượt tải: 0

Liquidity premium theory According to the liquidity premium theory, the yield curve changes as the liquidity premium changes over time due to investor preferences Investors who prefer short-term securities will hold long-term securities only if compensated with a premium Short-term securities are typically more liquid than long-term securities ...

40 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 978 | Lượt tải: 0

Money supply (cont’d) September 11 Firms cut back on expansion plans Households cut back on borrowing plans The demand of loanable funds declined The weak economy in 2001–2002 Reduced demand for loanable funds The Fed increased the money supply growth Interest rates reached very low levels

31 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 862 | Lượt tải: 0

Bonds and mortgages Bonds are long-term debt obligations issued by corporations and government agencies Mortgages are long-term debt obligations created to finance the purchase of real estate Bonds and mortgages specify the amount and timing of interest and principal payments

35 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 873 | Lượt tải: 0

Một số hợp đồng vay quốc tế có bao gồm điều khoản được phép trả nợ bằng ngoại tệ, cho phép người vay tránh được các rủi ro về tỷ giá. Thông thường, ngân hàng quy đổi các khoản quỹ có sẵn thành bất cứ loại tiền tệ nào mà các tổ chức có nhu cầu vay Tạo một tài sản có dưới một đồng tiền nước ngoài và tạo một tài sản nợ dưới một đồng tiền khác Gi...

48 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 1000 | Lượt tải: 0