1) The document discusses the sub-prime mortgage crisis that began in 2007 in the US. Sub-prime loans were given to borrowers with poor credit histories at higher interest rates due to the perceived lower risk of default during a housing boom.
2) As the housing market declined, sub-prime borrowers defaulted on their loans in large numbers, reducing the value of mortgage-backed securities and derivatives that had spread the risks throughout the global financial system.
3) The crisis led to huge write-downs by global banks and brokerages, the collapse of major financial firms like Bear Stearns and Lehman Brothers, and government intervention to prop up Fannie Mae and Freddie Mac. The crisis spread globally
This is the presentation given at the June 16, 2015 event that the Center for Responsible Lending hosted to present the release of the final chapter of its State of Lending report.
In this final chapter of The State of Lending in America and its Impact on U.S. Households series,
we demonstrate the cumulative high costs of lending abuses, discuss lessons learned from efforts
to address predatory lending, and suggest steps for further action.
Please find attached our annual review with our compliments. This is a sample of the high quality content our subscribers receive each week. Take your free trial at bloombergbriefs.com
This is the presentation given at the June 16, 2015 event that the Center for Responsible Lending hosted to present the release of the final chapter of its State of Lending report.
In this final chapter of The State of Lending in America and its Impact on U.S. Households series,
we demonstrate the cumulative high costs of lending abuses, discuss lessons learned from efforts
to address predatory lending, and suggest steps for further action.
Please find attached our annual review with our compliments. This is a sample of the high quality content our subscribers receive each week. Take your free trial at bloombergbriefs.com
Are Collateralized Loan Obligations the ticking time bomb that could trigger ...Kaan Sapanatan, CFA, CAIA
After my recent trip to New York, where I met with investment advisors from various Investment Banks and Large Alternative Investment Shops, 3 letters really resonated in my ears on my flight back home.
And those 3 letters were C… L… O…
As I got back home I started digging more into it.
One thing that really stood out for me was that; the Investment Banks never mentioned a word on Collateralized Loan Obligations, whereas without an exception every Alternative Investment shop talked about CLOs with great passion, and would elaborate “How much value they see in them and how great the returns are”
Coincidently recently there have been some concerns raised on “Leverage Loans and CLOs” by some powerful voices such as; former Federal Reserve Chair Janet Yellen, IMF, Moody’s and so on.
In fact, I had read some of the comments as part of my daily news screening, but at the time it didn’t catch my attention enough to further look into it.
The more research I did, the more clear it became that “Ten years after the global financial crisis, investors are once again showing increasingly risky behavior as they search for sources of high yield in response to a decade of low-interest rates”.
Please find my research in the presentation. I would be very happy to discuss and share some thought regarding the topic.
Kaan Sapanatan
Bankruptcy has been in existence since ancient times. In the United States, the rules and procedures for filing bankruptcy are governed by federal law...
National Real estate investor
August 31, 2009
Is FDIC Running Out of $?
By Ben Johnson, a special to NREI from OKC REview
Now that the Federal Deposit Insurance Corp. (FDIC) has released its latest report on the nation's banking system, a popular topic of discussion is exactly how much money the FDIC has left to rescue more failed banks.
FDIC Chairman Sheila Bair said on Friday that the FDIC has plenty of funds to cover future rescues. But the tide is definitely not in the FDIC's favor, as some forecasters expect hundreds of U.S. banks to fail in the months ahead as they claw their way out of the recession.
I have made this presentation to give insight of what really hapenned in 2008 when housing bubble bursted in 2008.
It was the greed of wall streets people and investors.
The Center for Responsible Lending (CRL) assesses the impact of the financial crisis on American families, showing the magnitude of the damage to their financial security--that is, their household balance sheet. In addition, this study looks at a broad range of current lending practices and their impacts.
I made this when I was in third year of my college.
This was my attempt to describe the subprime mortgage crisis that lead to the financial meltdown in 2008.
Are Collateralized Loan Obligations the ticking time bomb that could trigger ...Kaan Sapanatan, CFA, CAIA
After my recent trip to New York, where I met with investment advisors from various Investment Banks and Large Alternative Investment Shops, 3 letters really resonated in my ears on my flight back home.
And those 3 letters were C… L… O…
As I got back home I started digging more into it.
One thing that really stood out for me was that; the Investment Banks never mentioned a word on Collateralized Loan Obligations, whereas without an exception every Alternative Investment shop talked about CLOs with great passion, and would elaborate “How much value they see in them and how great the returns are”
Coincidently recently there have been some concerns raised on “Leverage Loans and CLOs” by some powerful voices such as; former Federal Reserve Chair Janet Yellen, IMF, Moody’s and so on.
In fact, I had read some of the comments as part of my daily news screening, but at the time it didn’t catch my attention enough to further look into it.
The more research I did, the more clear it became that “Ten years after the global financial crisis, investors are once again showing increasingly risky behavior as they search for sources of high yield in response to a decade of low-interest rates”.
Please find my research in the presentation. I would be very happy to discuss and share some thought regarding the topic.
Kaan Sapanatan
Bankruptcy has been in existence since ancient times. In the United States, the rules and procedures for filing bankruptcy are governed by federal law...
National Real estate investor
August 31, 2009
Is FDIC Running Out of $?
By Ben Johnson, a special to NREI from OKC REview
Now that the Federal Deposit Insurance Corp. (FDIC) has released its latest report on the nation's banking system, a popular topic of discussion is exactly how much money the FDIC has left to rescue more failed banks.
FDIC Chairman Sheila Bair said on Friday that the FDIC has plenty of funds to cover future rescues. But the tide is definitely not in the FDIC's favor, as some forecasters expect hundreds of U.S. banks to fail in the months ahead as they claw their way out of the recession.
I have made this presentation to give insight of what really hapenned in 2008 when housing bubble bursted in 2008.
It was the greed of wall streets people and investors.
The Center for Responsible Lending (CRL) assesses the impact of the financial crisis on American families, showing the magnitude of the damage to their financial security--that is, their household balance sheet. In addition, this study looks at a broad range of current lending practices and their impacts.
I made this when I was in third year of my college.
This was my attempt to describe the subprime mortgage crisis that lead to the financial meltdown in 2008.
Global Financial Markets & The Recent Credit Crisis: Impressions from a Perso...Markus Krebsz
This presentation in two parts was given at a Royal Holloway University London (RHUL) event on 22 March 2012. Part 1 covers CRAs and Part 2 covered career tips for students interested in the financial markets.
Supplementary report to the 2015 Digital News Report. Including information on six new countries: Austria, the Czech Republic, Poland, Portugal, the Netherlands and Turkey.
Blog Coverage Bella Caio Oct 10, 2008 Financial Tsunami What Brought It OnJagannadham Thunuguntla
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India's fourth largest share brokerage firm, the Delhi-based SMC Group, told IANS.
Bharat Site Oct 3, 2008 - Inside the financial tsunami: what brought it on?Jagannadham Thunuguntla
The financial tsunami now inundating global economies and markets was brought on by imprudent easing of US lending norms and extreme over-leveraging by giant US investment banks, analysts say.
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
India ENews Oct 3, 2008 - Inside the financial tsunami: what brought it on?Jagannadham Thunuguntla
The financial tsunami now inundating global economies and markets was brought on by imprudent easing of US lending norms and extreme over-leveraging by giant US investment banks, analysts say.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
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Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
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1. SUB PRIME CRISISByBeetena AbrahamPGDM (Fin.)IIMMPune What is a sub-prime loan? In the US, borrowers are rated either as 'prime' - indicating that they have a good credit rating based on their track record - or as 'sub-prime', meaning their track record in repaying loans has been below par. Loans given to sub-prime borrowers, something banks would normally be reluctant to do, are categorised as sub-prime loans. Typically, it is the poor and the young who form the bulk of sub-prime borrowers. Why loans were given? In roughly five years leading up to 2007, many banks started giving loans to sub-prime borrowers, typically through subsidiaries. They did so because they believed that the real estate boom, which had more than doubled home prices in the US since 1997, would allow even people with dodgy credit backgrounds to repay on the loans they were taking to buy or build homes. Government also encouraged lenders to lend to sub-prime borrowers, arguing that this would help even the poor and young to buy houses.With stock markets booming and the system flush with liquidity, many big fund investors like hedge funds and mutual funds saw sub-prime loan portfolios as attractive investment opportunities. Hence, they bought such portfolios from the original lenders. This in turn meant the lenders had fresh funds to lend. The subprime loan market thus became a fast growing segment. What was the interest rate on sub-prime loans? Since the risk of default on such loans was higher, the interest rate charged on sub-prime loans was typically about two percentage points higher than the interest on prime loans. This, of course, only added to the risk of sub-prime borrowers defaulting. The repayment capacity of sub-prime borrowers was in any case doubtful. The higher interest rate additionally meant substantially higher EMIs than for prime borrowers, further raising the risk of default.Further, lenders devised new instruments to reach out to more sub-prime borrowers. Being flush with funds they were willing to compromise on prudential norms. In one of the instruments they devised , they asked the borrowers to pay only the interest portion to begin with. The repayment of the principal portion was to start after two years How did this turn into a crisis? The housing boom in the US started petering out in 2007. One major reason was that the boom had led to a massive increase in the supply of housing. Thus house prices started falling. This increased the default rate among subprime borrowers, many of whom were no longer able or willing to pay through their nose to buy a house that was declining in value.Since in home loans in the US, the collateral is typically the home being bought, this increased the supply of houses for sale while lowering the demand, thereby lowering prices even further and setting off a vicious cycle. That this coincided with a slowdown in the US economy only made matters worse. Estimates are that US housing prices have dropped by almost 50% from their peak in 2006 in some cases. The declining value of the collateral means that lenders are left with less than the value of their loans and hence have to book losses How did this become a systemic crisis? One major reason is that the original lenders had further sold their portfolios to other players in the market. There were also complex derivatives developed based on the loan portfolios, which were also sold to other players, some of whom then sold it on further and so on.As a result, nobody is absolutely sure what the size of the losses will be when the dust ultimately settles down. Nobody is also very sure exactly who will take how much of a hit. It is also important to realise that the crisis has not affected only reckless lenders. For instance, Freddie Mac and Fannie Mae, which owned or guaranteed more than half of the roughly $12 trillion outstanding in home mortgages in the US, were widely perceived as being more prudent than most in their lending practices. However, the housing bust meant that they too had to suffer losses — $14 billion combined in the last four quarters - because of declining prices for their collateral and increased default rates.The forced retreat of these two mortgage giants from the market, of course, only adds to every other player's woes. What has been the impact of the crisis? Global banks and brokerages have had to write off an estimated $512 billion in sub-prime losses so far, with the largest hits taken by Citigroup ($55.1 bn) and Merrill Lynch ($52.2 bn). A little more than half of these losses, or $260 bn, have been suffered by US-based firms, $227 billion by European firms and a relatively modest $24 bn by Asian ones. Despite efforts by the US Federal Reserve to offer some financial assistance to the beleaguered financial sector, it has led to the collapse of Bear Sterns, one of the world's largest investment banks and securities trading firm. Bear Sterns was bought out by JP Morgan Chase with some help from the Fed.The crisis has also seen Lehman Brothers - the fourth largest investment bank in the US - file for bankruptcy. Merrill Lynch has been bought out by Bank of America. Freddie Mac and Fannie Mae have effectively been nationalised to prevent them from going under.Reports suggest that insurance major AIG (American Insurance Group) is also under severe pressure and has asked for a $40 bn bridge loan to tide over the crisis. If AIG also collapses, that would really test the entire financial sector How is the rest of the world affected? Apart from the fact that banks based in other parts of the world also suffered losses from the subprime market, there are two major ways in which the effect is felt across the globe. First, the US is the biggest borrower in the world since most countries hold their foreign exchange reserves in dollars and invest them in US securities.Thus, any crisis in the US has a direct bearing on other countries, particularly those with large reserves like Japan, China and - to a lesser extent - India. Also, since global equity markets are closely interlinked through institutional investors, any crisis affecting these investors sees a contagion effect throughout the world<br />