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Electronic funds transfers --- Letters of credit --- Negotiable instruments --- Payment --- Law and legislation

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The recent round of debt relief has restored debt sustainability in many low-income countries (LICs). This, along with a continued search for yield and desire for portfolio diversification by investors, has increased the range of viable financing options, including international bonds, for many emerging market (EM) economies and LICs. This paper presents some of the advantages and disadvantages of international debut bonds, within a debt sustainability framework. It outlines key preconditions and discusses strategic considerations that countries need to take into account when contemplating bond issuance in international markets for the first time. In this context, the paper also discusses some typical pitfalls in accessing international capital markets, including excessive issue size relative to the intended use of bond proceeds, issuance of bullet bonds, and inadequate preparation for accessing the markets.

Bonds --- Risk management --- Debts, Public --- Bond issues --- Debentures --- Insurance --- Management --- Negotiable instruments --- Securities --- Stocks --- Finance: General --- Investments: Bonds --- Public Finance --- General Financial Markets: General (includes Measurement and Data) --- Debt --- Debt Management --- Sovereign Debt --- Investment & securities --- Public finance & taxation --- Finance --- International bonds --- Government debt management --- International capital markets --- Sovereign bonds --- Capital market --- Egypt, Arab Republic of

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"In The New Masters of Capital, Timothy J. Sinclair examines a key aspect of the global economy - the rating agencies. In the global economy, trust is formalized in the daily operations of such firms as Moody's and Standard & Poor's, which continuously monitor the financial health of bond-issuers ranging from private corporations to local and national governments. Their judgments affect unimaginably large sums, approximately $30 trillion in outstanding debt issues, according to a recent Moody's estimate. The difference between an AA and a BB rating may cost millions of dollars in interest payments or determine if a corporation or government can even issue bonds" "Without bond rating agencies, there would be no standard means to compare risks in the global economy, and international investment would be problematic. Most observers assume that the agencies are neutral and scientific, and that they interpret their role in narrowly economic terms. But these agencies, by their nature, wield extraordinary power and exert massive influence over public policy. Sinclair offers a highly accessible account of these institutions, their origins, and the rating processes they use to judge creditworthiness. Illustrated with a wide range of cases, this book offers a fresh assessment of the role of an often-overlooked institution in the dynamics of modern global capitalism."--Jacket.

Bonds --- Rating agencies (Finance) --- Credit ratings --- Finance --- Business & Economics --- Credit, Debt & Loans --- Agencies, Rating (Finance) --- Rating services (Finance) --- Financial services industry --- Bond issues --- Debentures --- Negotiable instruments --- Securities --- Debts, Public --- Stocks --- Ratings and rankings --- Ratings --- Rating agencies (Finance) - United States --- Bonds - Ratings - United States --- Credit ratings - United States --- Notation financière

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Les instruments de paiement et de crédit sont des moyens d'exécution d'une obligation de somme d'argent et des moyens de financement d'opérations déterminées. Ils se situent, donc, au frontispice du droit des obligations, du droit commercial, du droit bancaire stricto sensu et du droit financier lato sensu. Egalement, l'informatique a révolutionné la pratique de ces instruments en adaptant les instruments anciens aux ordinateurs et en créant de nouveaux instruments purement informatises. L'auteur fait la lumière sur la richesse de ces instruments malheureusement délaissés par la doctrine libanaise dans ce seul ouvrage d'ensemble en langue française. Portant sur les instruments de paiement (chèques, virement, paiement par carte, paiements électroniques) et les instruments de crédit (lettre de change, billet à ordre, titres négociables apparentés au billet à ordre), l'ouvrage fait l'état du droit et de la pratique en confrontant constamment les règles du droit libanais à celles du droit français. Cet ouvrage s'adresse non seulement aux étudiants qui y trouveront leur provende mais également aux praticiens car il constitue un précieux instrument de travail.

Financial law --- Commercial law --- AA / International- internationaal --- 347.730 --- 347.747 --- 333.771.3 --- 333.731 --- 333.154 --- 333.109 --- 347.73 <569.3> --- Financiële instellingen: algemeen. --- Cheque (recht). --- cheque. --- Persoonlijk en reëel krediet. Bankkaarten. --- Elektronische geldtransfers. Clearing. Home banking. --- Veiligheid. Bankovervallen. Bankrisico's. --- Financieel recht. Commerciele organisatie. Handelsinstellingen--Libanon --- Negotiable instruments --- Law and legislation --- Lebanon --- Credit cards --- Bills of exchange --- Checks --- Drafts --- Promissory notes --- Credit --- Bank credit cards --- Financiële instellingen: algemeen --- Cheque (recht) --- cheque --- Persoonlijk en reëel krediet. Bankkaarten --- Elektronische geldtransfers. Clearing. Home banking --- Veiligheid. Bankovervallen. Bankrisico's

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RWT Award 2008! For his excellent monograph, Detlef Repplinger won the RWT Reutlinger Wirtschaftstreuhand GMBH award in June 2008. A major theme of this book is the development of a consistent unified model framework for the evaluation of bond options. In general options on zero bonds (e.g. caps) and options on coupon bearing bonds (e.g. swaptions) are linked by no-arbitrage relations through the correlation structure of interest rates. Therefore, unspanned stochastic volatility (USV) as well as Random Field (RF) models are used to model the dynamics of entire yield curves. The USV models postulate a correlation between the bond price dynamics and the subordinated stochastic volatility process, whereas Random Field models allow for a deterministic correlation structure between bond prices of different terms. Then the pricing of bond options is done either by running a Fractional Fourier Transform or by applying the Integrated Edgeworth Expansion approach. The latter is a new extension of a generalized series expansion of the (log) characteristic function, especially adapted for the computation of exercise probabilities.

Bonds --- Options (Finance) --- Prices --- Econometric models. --- Mathematical models. --- Bond issues --- Debentures --- Negotiable instruments --- Securities --- Debts, Public --- Stocks --- Investment analysis. --- Fourier transformations. --- Edgeworth expansions. --- -332.6453 --- Edgeworth series --- Expansions, Edgeworth --- Distribution (Probability theory) --- Sampling (Statistics) --- Transformations, Fourier --- Transforms, Fourier --- Fourier analysis --- Transformations (Mathematics) --- Analysis of investments --- Analysis of securities --- Security analysis --- Call options --- Calls (Finance) --- Listed options --- Options exchange --- Options market --- Options trading --- Put and call transactions --- Put options --- Puts (Finance) --- Derivative securities --- Investments --- Mathematical models --- -Electronic information resources --- E-books --- Finance. --- Macroeconomics. --- Finance, general. --- Macroeconomics/Monetary Economics//Financial Economics. --- Quantitative Finance. --- Economics --- Funding --- Funds --- Currency question --- Investment analysis --- Fourier transformations --- Edgeworth expansions --- Economics, Mathematical . --- Mathematical economics --- Econometrics --- Mathematics --- Methodology --- Social sciences --- Financial Economics. --- Macroeconomics and Monetary Economics. --- Mathematics in Business, Economics and Finance. --- Mathematics. --- -Mathematical models