Credit Suisse held a financial services forum on February 4, 2009 to discuss Sallie Mae's business fundamentals, financial outlook, and liquidity position. Key points included:
1) Sallie Mae has a strong franchise in student lending with competitive scale and assured FFELP profitability through 2010.
2) Liquidity is improving through various government funding programs and expanding deposit funding.
3) The outlook forecasts $5-6 billion in new private loan originations, $21-23 billion in FFELP loans, earnings per share of $1.45-$1.65, and continued management of credit quality and provision expenses.
InKnowVision October 2012 HNW Technical Webinar w/ Guest Presenter Bob ScarlataInKnowVision
As an investment banker for some 26 years who has sold dozens of middle market privately held companies to private equity groups throughout the U.S. and Canada, Bob Scarlata will describe for us how private equity groups make their money and how private business owners can benefit and profit from their professional management strategies.
InKnowVision October 2012 HNW Technical Webinar w/ Guest Presenter Bob ScarlataInKnowVision
As an investment banker for some 26 years who has sold dozens of middle market privately held companies to private equity groups throughout the U.S. and Canada, Bob Scarlata will describe for us how private equity groups make their money and how private business owners can benefit and profit from their professional management strategies.
Slides from the 9/28/2011 FPA webinar "Build Your Own Pension." With the decline of pensions, clients will look to their own accounts to provide predictable retirement income. We show how advisors can create pension-like income using institutional liability driven investing (LDI) strategies.
Qualitative and quantitative analysis of sustainable banks compared with global systematically important institutions.
The analysis may be not complete and only indicate a small scope of each banks qualities. All figures have been researched and retrieved from publicly available documents. The full report with details can be retrieved on request.
Fairfax County Executive Anthony Griffin presented his proposed budget to the Board of Supervisors on Feb. 22, 2011. More details at http://www.fairfaxcounty.gov/budget
FINEX Wealth Management Inc. exclusive "Combined Qualified Pension Plan" designed to include IRC §401h “PRIME”: a separate pooled trust fund of a pension plan used exclusively for retiree health benefits. This unique plan consists of five (5) contribution components: 401(k), Profit Sharing, Cash Balance Defined Benefit, Aggregated “PRIME” Benefit, and Tax Reserve. The key to this design is combining plan attributes in a non-discriminatory manner, cross-testing, and satisfying the concurrent offset rules which allow business owner’s to create a targeted employees only plan.
Slides from the 9/28/2011 FPA webinar "Build Your Own Pension." With the decline of pensions, clients will look to their own accounts to provide predictable retirement income. We show how advisors can create pension-like income using institutional liability driven investing (LDI) strategies.
Qualitative and quantitative analysis of sustainable banks compared with global systematically important institutions.
The analysis may be not complete and only indicate a small scope of each banks qualities. All figures have been researched and retrieved from publicly available documents. The full report with details can be retrieved on request.
Fairfax County Executive Anthony Griffin presented his proposed budget to the Board of Supervisors on Feb. 22, 2011. More details at http://www.fairfaxcounty.gov/budget
FINEX Wealth Management Inc. exclusive "Combined Qualified Pension Plan" designed to include IRC §401h “PRIME”: a separate pooled trust fund of a pension plan used exclusively for retiree health benefits. This unique plan consists of five (5) contribution components: 401(k), Profit Sharing, Cash Balance Defined Benefit, Aggregated “PRIME” Benefit, and Tax Reserve. The key to this design is combining plan attributes in a non-discriminatory manner, cross-testing, and satisfying the concurrent offset rules which allow business owner’s to create a targeted employees only plan.
Brian X. Tierney, American Electric Power executive vice president and chief financial officer presented to an audience of investors at the Credit Suisse Energy Summit in Vail, Colo., on Feb. 8, 2011.
A webcast of the presentation can be accessed through the Internet at http://www.aep.com/investors/webcasts/.
During the conference, AEP reaffirmed its 2011 ongoing earnings guidance of $3.00 to $3.20 per share.
Optimization Of Capital Structure Of Firm To Improve Profitability Complete DeckSlideTeam
This template will help the organization in optimizing debt ratio to maximize firm value and reducing cost of capital. The current scenario of firm depicts various sources of capital funding such as debt, equity capital, etc. The firms capital structure is analyzed on the basis of debt equity ratio, WACC, cost of equity and debt, present debt and equity pattern, etc. The debt equity ratio of the firm determines that firm is aggressively financed through debt which puts the firm in potential risk of financial distress or bankruptcy. The Chief Financial Officer will present this template to higher level management. The over levered firm will search different ways to shift to optimal debt ratio at minimum cost of capital by estimating optimal debt ratio on different rates with respect to cost of capital and firm value. The firm can alter its financial mix through ways such as equity recapitalization, divestiture and use of proceeds, new investment financing. The firm will raise capital funding through equity by initial public offerings process and leveraged buyout process. The alteration of financial mix will impact debt and equity pattern by reducing debt and increasing equity resulting lower debt equity ratio at minimum cost of capital. https://bit.ly/38bJcPg
Private Capital Access Index Study Results Q1 2012D&B B2B
The Pepperdine Private Capital Access Index (PCA) is a quarterly indicator produced by the Graziadio School of Business and Management at Pepperdine University, and with the support of Dun & Bradstreet Credibility Corp. The index is designed to measure the demand for, activity, and health of the private capital markets. The purpose of the PCA Index is to gauge the demand of small and medium-sized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Which Crypto to Buy Today for Short-Term in May-June 2024.pdf
SLM CSPresentationFebruary42009Final
1. Credit S i
C dit Suisse Financial Services Forum
Fi i lS i F
February 4, 2009
2. Forward-Looking Statements
This Presentation contains forward-looking statements and information based on management’s current expectations as of the date of this
presentation. Statements that are not historical facts, including statements about our beliefs or expectations and statements that assume or
are dependent upon future events, are forward-looking statements. Forward-looking statements are subject to risks, uncertainties,
assumptions and other factors that may cause actual results to be materially different from those reflected in such forward-looking statements.
These factors include, among others, the occurrence of any event, change or other circumstances that could give rise to our ability to cost-
effectively refinance asset backed financing facilities due February 2009 (collectively the “2008 Asset Backed Financing Facilities”) including
asset-backed 2009, (collectively, 2008 Asset-Backed Facilities ),
any potential foreclosure on the student loans under those facilities following their termination; increased financing costs; limited liquidity; any
adverse outcomes in any significant litigation to which we are a party; our derivative counterparties terminating their positions with the
Company if permitted by their contracts and the Company substantially incurring additional costs to replace any terminated positions; changes
in the terms of student loans and the educational credit marketplace (including changes resulting from new laws and regulations and from the
implementation of applicable laws and regulations) which, among other things, may change the volume, average term and yields on student
p pp g ) , g g, y g , g y
loans under the Federal Family Education Loan Program (“FFELP”), may result in loans being originated or refinanced under non-FFELP
programs, or may affect the terms upon which banks and others agree to sell FFELP loans to the Company. The Company could also be
affected by: various liquidity programs being implemented by the federal government, changes in the demand for educational financing or in
financing preferences of lenders, educational institutions, students and their families; incorrect estimates or assumptions by management in
connection with the preparation of our consolidated financial statements; changes in the composition of our Managed FFELP and Private
Education Loan portfolios; changes in the general interest rate environment, including the rate relationships among relevant money market
instruments, and in the securitization markets for education loans, which may increase the costs or limit the availability of financings necessary
to initiate, purchase or carry education loans; changes in projections of losses from loan defaults; changes in general economic conditions;
changes in prepayment rates and credit spreads; and changes in the demand for debt management services and new laws or changes in
existing laws that govern debt management services. All forward-looking statements contained in the Presentation are qualified by these
cautionary statements and are made only as of the date of this Presentation The Company does not undertake any obligation to update or
Presentation.
revise these forward-looking statements to conform the statement to actual results or changes in the Company’s expectations.
2
3. Sallie Mae Proposition
• Strong business fundamentals
• Competitive, scale franchise
• FFELP profitability assured through 2010
• Liquidity improving and adequate to meet debt service
• ED facility provides unlimited funding for new FFELP originations through AY 09/10
• Expanding deposit funding – provides funding for new Private Credit Originations
• Asset class performs well despite weakening consumer credit
3
4. FFELP Originations
$24
$20
$16
($ in billions)
$12
$8
$4
$0
Sallie Mae Lender Partners
FFELP originations increased 25% in the 4th quarter
•
4
5. FFELP Funding
• $7.4 billion funded through the ED Purchase and Participation Program at
CP + 50 basis points
• Participation and Purchase Programs extended for the AY 09/10
• ED Conduit Program (Straight A Funding) is expected to begin in February
• The F d
Th Federal Reserve expects to commence lending under TALF i
lR tt l di d in
February
5
6. Private Education Loan Originations
• Originated $6.3 billion in 2008
• Average FICO score in Q4 ‘08 increased from prior year by 26 points to
738
• 74% of new loan originations had co-borrowers, up from 57% in prior
year
• Product pricing reflects current funding environment
• Raised $1.6 billion in Q408 in term bank deposits with a weighted average
maturity of 2.2 years
6
7. Recession Has Smaller Impact On College Grads
9.0
8.0
7.0
6.0
5.0
4.0
40
3.0
2.0
1.0
0.0
Total Unemployment Rate
Unemployment Rate with a Bachelor's Degree or Higher
Source: U.S. Department of Labor, Bureau of Labor Statistics
7
8. SLM Private Credit Default Emergence Profile – Payments Made
Loss Emergence Timing
Sallie Mae Signature Loans
3.0%
2.5%
rcent of Original Loan Balance
2.0%
1.5%
1 5%
L
1.0%
0.5%
Per
0.0%
0-12 13-24 25-36 37-48 49-60 61-72 73-84 85-96 97-108 109-120 121-132 133-144 145-156
Payments Made
Defaults (% of Original Loan Balance)
8
9. Portfolio Quality Increasing
Non-Cosigned
Non Cosigned Repayment Waves
Non-Traditional Repayment Waves
($ in millions)
($ in millions) $4,000
$1,000
$800 $3,000
$600
$2,000
$400
$1,000
$200
$0 $0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2004 2005 2006 2007 2008 2009 2010 2011 2012
Non cosigned
Non-cosigned $
Non-Traditional
Non Traditional $
Amounts shown above show dollar amount of loans that will enter repayment
• Non-Traditional net charge-off rate is 6 greater th Traditional
N T diti l th ff t i 6x t than T diti l
• 74% of new loan originations had co-borrowers, up from 57% in prior year,
g ,p p y ,
objective is 90% cosigned loans
• Non cosigned loans charge off at more than twice the rate of cosigned loans
9
10. Default Trends – Mix of Traditional vs. Non-Traditional
Net Charge-offs $
Charge offs Net Charge-off R t as a % of A R
N t Ch ff Rate f Avg Repay B l
Balance
800 25%
700
20%
600
500
Millions
s
15%
400
10%
300
200
5%
100
0%
-
2006 2007 2008 2009F
2006 2007 2008 2009F
Trad Non-Trad
Trad Non-Trad
• Net charge-offs driven by Non-Traditional loans
• Non-Traditional loans represents 14% of the Private Education Loan portfolio
• Higher Quality loans entering repayment in 2009 and 2010
10
11. Changes to Forbearance Policy
• Small segment (18%) of loans that are in forbearance account for
majority (58%) of defaults
• Of the remaining 82% of borrowers who received forbearance only 6%
have defaulted
• Reducing forbearance to certain borrowers will accelerate $225 million of
charge offs into 2009
• Forbearance is an effective and beneficial tool for both borrower and
lender
ld
11
12. Liquidity Position Update
• ED Purchase and Participation Program used for all new FFELP
originations
• Bank Deposits used for all new Private Education Loan originations
• ED Conduit (Straight A Funding) used for Term Financing for Short Term
Prime FFELP Loans
• TALF used for Term Financing for Short Term Prime FFELP Loans,
Consolidation & Private Education Loans
• $30 Billion of existing loans that meet criteria for ED Conduit and/or TALF
12
13. Funding Sources
$180 Billion Managed Student Loan Portfolio
Term
Fixed Spread
Funded*,
Liabilities
70%
with Average
Life of 4.3
years, 12%
ABCP
Conduit, 18%
• Employ conservative long-term funding model
* Term Funded includes 4% or $7.6 Billion of advances outstanding under the ED Purchase and Participation Program
13
14. Unsecured Debt Maturities
As f December 31 2008
A of D b 31,
(par value, $ in billions)
15.0
11.7
10.0
7.1 7.1
5.0
3.0
2.9
2.3
2.2
1.1
0.5
0.0
00
• On 01/22/09 S&P affirmed our senior unsecured debt rating of BBB-
14
Note: Does not include SLM Bank or Subsidiary funding
15. 2009 Outlook
Originations
• $5 - $6 billion in Private Education Loans
• $21 - $23 billion in FFELP Loans
Credit Quality
• Private Education Loan Provision of approximately $1 billion
• Total Provision of approximately $1.2 billion
• Private Education Loan Charge-offs of $1.3 billion with $225 million related to
changes in forbearance policy
Earnings
• Earnings per share between $1 45 and $1 65
$1.45 $1.65
• Assumes $250 million in revenue from government put in 3rd quarter
• Assumes CP/LIBOR spread to average 10 basis points
15
16. Summary
• Strong business fundamentals
• Competitive scale franchise
Competitive,
• FFELP profitability assured through 2010
• Emerging programs strengthen liquidity and improve profitability
16
17. GAAP to “Core Earnings” EPS Reconciliation
($ in thousands, except per share amounts) Years Ended
December 31, 2008 December 31, 2007
Dollars Diluted EPS Dollars Diluted EPS
$ (212,626) $ (0.69) $ (896,394) $ (2.26)
GAAP net income (loss)
Adjustment from GAAP to quot;Core Earningsquot;
442,190 (246,817)
Net impact of securitization accounting
560,381 1,340,792
Net impact of derivative accounting
102,056 168,501
Net impact of Floor Income
91,384 112,397
Net impact of acquired intangibles
Total quot;Core Earningsquot; Adjustments before income taxes
and minority interest in net earnings of
1,196,011 1,374,873
subsidiaries
(457,435) 81,845
Net tax effect
738,576 1,456,718
Total quot;Core Earningsquot; Adjustments
525,950 0.89 560,324 1.23
quot;Core Earningsquot; net income
quot;Core Earningquot; net income adjusted for non-recurring items
- 27,463
27 463
Merger related
Merger-related financing fees
- 35,456
Merger-related professional fees and other costs
52,778 14,178
Restructuring Expenses
4,136 -
Other reorganization-related asset impairments
- 27,726
Impact to FFELP provision for loan losses due to legislative changes
(74,138) -
Deceleration of premium amortization expense on loans
51,777
51 777 -
Acceleration of premium amortization expense on loans
34,553 0.07 104,823 0.24
Total after tax non-recurring items
17