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1 - 9 van 9 voor asset liability management
memo168.pdf
... (indexed bonds). in the pension sphere, one may think of portfolio-allocation policies (asset-liability matching). traditional projection analysis does not assess the spread of possible outcomes ... 6 ortec is an independent international consultancy firm that, among other activities, conducts asset liability management (alm) studies to address potential risk factors for pension funds. 19 analysis. as ...
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Microsoft Word - Tussenrapportage.doc
... komen hebben wij de assistentie ingeroepen van ortec financiele consultants. dit bureau heeft in een asset liability management (alm) context een aantal modelmatige berekeningen uitgevoerd aangaande mogelijke zekerheidsmaatstaven, de daarbij behorende solvabiliteit (uitgedrukt ...
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doc211.pdf
... scale specialist business model bundeled services, scope deposit funding wholesale funding, securitisation, balance sheet management customer client relationship market based activities, scale specialist business model bundeled services, scope ... fact that banks combine illiquid debt on the asset side of their balance sheet with demand deposits on the liability side of their balance sheet. 2.1.2 ...
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dp175 systemic risk across sectors pdf
... underlying assumption is that stock market data reflects all publicly available information about (i) individual asset and liability side risks and (ii) dependencies between different banks' risks. this means that stocks are ... the value-at-risk (var) of a firm which is the convenient approach in risk management.8 6we added returns for the period 1989-1992 to obtain estimates for the first ...
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governance stakeholder relationships german and dutch experience pdf
... asset specificity is considerable. the degree of asset specificity is defined as the fraction of the value of the asset which is lost if the asset ... management and reduces the scope for managerial opportunism. management share ownership closer aligns management and share- holder incentives. employee co-determination rights enable employees to monitor management ... shareholders have limited liability, ...
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Microsoft Word - Memorandum AFC.doc
... foreign currency-denominated loans were used to finance domestic long-term investments (liability dollarisation). this created serious maturity and currency mismatches, which made domestic ... asset management companies are centralised government agencies that purchase (often at a discount) non-performing loans from commercial banks, and subsequently sell these assets to the private sector. an asset ...
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Microsoft Word - cpbdoc210.doc
... with which central banks or creditors monitor banks' management. as a consequence, creditors may downgrade their assessments of other ... the public benefits of intervention. commitment problems, limited liability, career concerns and herding incentives may distort a regulator' ... asset has a lower return than the risky asset, suppliers of liquidity have to be compensated for holding the liquid asset ...
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omslag policy brief 2011 7 uk indd
... by exploring how private pension funds can implement optimal risk management on behalf of their participants and contribute to stable ... funds may address these borrowing constraints due to the limited liability of human capital-- but only up to some limit, ... , de economist 146, 63-83. towers watson, 2010, global pension asset study 2010. publisher cpb netherlands bureau for economic policy analysis ...
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dp212.indd
... limitations in detail. first, since asset pricing applies to all kinds of financial assets, the test does not require particular assumptions about debt management, or the composition of debt in ... central government debt. in the netherlands, the central government steps in and assumes full liability when local governments are in financial distress. therefore local government de- fault risk is ...
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