International Finance: Putting Theory Into Practice
16.1. “EURO” DEPOSITS AND LOANS 605 not just a collection of local markets with, on the fringe, an international corner for the ...
606 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS 1 , 000 , 000 ×(3. 5 − 0 .375)%/2 =nzd 15 .625. There will be two more of the ...
16.1. “EURO” DEPOSITS AND LOANS 607 provides some of the funding as well. The main objective of syndication is to spread the ris ...
608 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS Figure 16.1:An international syndicated loan: Vakifbank $500m Turkish bank lo ...
16.1. “EURO” DEPOSITS AND LOANS 609 Table 16.2:A revolving loan with a cap and a floor rates (%) equivalent PN story mood LIBOR ...
610 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS be 4 percentp.a.or 2 percent effective. Interpret the 3.5% floor as an option ...
16.1. “EURO” DEPOSITS AND LOANS 611 cycles, with spreads widening when something bad happens, then competition gradually narrowi ...
612 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS rate. If the normal all-in market rate on a fixed-rate loan with the same lif ...
16.2. INTERNATIONAL BOND & COMMERCIAL-PAPER MARKETS 613 may have the right to borrow up togbp50m at interest of six-monthLIB ...
614 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS Table 16.3:Relationships between international banking products and se- curit ...
16.2. INTERNATIONAL BOND & COMMERCIAL-PAPER MARKETS 615 approved by the local Central Bank. (Approval by one Central Bank su ...
616 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS the balance sheet. 16.2.2 Institutional Aspects of the International Bond Mar ...
16.2. INTERNATIONAL BOND & COMMERCIAL-PAPER MARKETS 617 the principal in another currency. DoItYourself problem 16.4 Suppose ...
618 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS The various players get their commission through the discount they get when t ...
16.2. INTERNATIONAL BOND & COMMERCIAL-PAPER MARKETS 619 Figure 16.2:EBRD Ruble bond Issue Nine banks underwrite new EBRD rou ...
620 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS Figure 16.3:ARUF: Kertih Terminals Kertih Terminals Signs RM500 Million Finan ...
16.3. HOW TO WEIGH YOUR BORROWING ALTERNATIVES 621 notes issued by banks are calledcertificates of deposit(CDs). Although anCPis ...
622 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS 12, the choice of the denomination of one’s assets or liabilities may interac ...
16.3. HOW TO WEIGH YOUR BORROWING ALTERNATIVES 623 Evaluation under Idealized Circumstances We could look at the sum of discount ...
624 CHAPTER 16. INTERNATIONAL FIXED-INCOME MARKETS the counterpart, the lender), the uncertainties are usually greater, so very ...
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