Описание: Contingent Convertibles (CoCos) represent debt that is subject to being converted automatically into common equity under pre-specified terms of conversion if the chosen regulatory capital ratio falls to a level triggering conversion. CoCos are that subspecies of contingent capital that references regulatory (Basel III) concepts in its triggers. From 2014, trigger points are set by common equity (Common Equity Tier 1 CET1]) in percent of risk-weighted assets RWA] or of more complicated measures of total exposure to a variety of risks, particularly credit risk. This is the first comprehensive book on CoCos, an innovative instrument that has attracted growing attention since it was first issued in 2009.The book is mostly concerned with going-concern 'recovery-' rather than 'resolution-' CoCos, because avoiding failure and costly disruption of financial networks without government financing is the first order of business. CoCos hold a high promise of providing fully loss-absorbing equity capital when it is most needed and least available to financial institutions. Yet, having grown out of the 2007-2009 financial crisis, they are still an 'infant' reform instrument in many respects. Few of the instrument's design features (or even the rating, regulatory, and tax treatments) are entirely settled. This book seeks to move the discussion toward, and then past, the main decision points so that CoCos can prove their value for contingency planning and self-insurance all over the world. It is intended to increase the ability of issuers and investors to analyze and understand the different kinds of CoCos.
Описание: This must-have manual provides solutions to all exercises in Dickson, Hardy and Waters' Actuarial Mathematics for Life Contingent Risks, the groundbreaking text on the modern mathematics of life insurance that is the required reading for the SOA Exam MLC and also covers more or less the whole syllabus for the UK Subject CT5 exam. The more than 150 exercises are designed to teach skills in simulation and projection through computational practice, and the solutions are written to give insight as well as exam preparation. Companion spreadsheets are available for free download to show implementation of computational methods.
Автор: Chapman Название: Income Contingent Loans ISBN: 1137413182 ISBN-13(EAN): 9781137413185 Издательство: Springer Рейтинг: Цена: 14106 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This study explores the prospect of the application of the basic principles of ICL into many other potential areas of social and economic policy. Using case studies it evaluates previously implemented ICL schemes where interest rate subsidies are usually the norm, and questions the merits of this approach.
Описание: The Contingent Valuation Method in Health Care is offered as a contribution to improving instruments of political decision making in health care. At a fundamental level, it is about methodological aspects of the contingent valuation method. It gives a holistic view of applying the contingent valuation method for use in policy. It shows all stages of a contingent valuation study beginning with the design, the choice of elicitation techniques and estimation methods for willingness-to-pay, the use of the results in a cost-benefit analysis, and finally, the policy implications resulting from our findings. The intended audience of The Contingent Valuation Method in Health Care are health economists interested in methodological problems of contingent valuation studies, people involved in health care decision making, planning, and priority setting as well as people interested in Alzheimer's Disease.
Автор: Dickson, David C. M. Название: Actuarial Mathematics for Life Contingent Risks ISBN: 1107044073 ISBN-13(EAN): 9781107044074 Издательство: Cambridge Academ Рейтинг: Цена: 9088 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Actuarial Mathematics for Life Contingent Risks, 2nd edition, is the sole required text for the Society of Actuaries Exam MLC Fall 2015 and Spring 2016. It covers the entire syllabus for the SOA Exam MLC, including new sections for Spring 2016. It is ideal for university courses and for individuals preparing for professional actuarial examinations - especially the new, long-answer exam questions. Three leaders in actuarial science balance rigor with intuition and emphasize practical applications using computational techniques to provide a modern perspective on life contingencies and equip students for the products and risk structures of the future. The authors then develop a more contemporary outlook, introducing multiple state models, emerging cash flows and embedded options. The 210 exercises provide meaningful practice with both long-answer and multiple choice questions. Furthermore: • the book has been updated to include new material on discrete time Markov processes, on models involving joint lives, and on universal life insurance and participating traditional insurance • the Solutions Manual (ISBN 9781107620261), available for separate purchase, provides detailed solutions to the text's exercises.
Описание: This must-have manual provides detailed solutions to all of the 200+ exercises in Dickson, Hardy and Waters' Actuarial Mathematics for Life Contingent Risks, Second Edition. This groundbreaking text on the modern mathematics of life insurance is required reading for the Society of Actuaries' Exam MLC and also provides a solid preparation for the life contingencies material of the UK actuarial profession's exam CT5. Beyond the professional examinations, the textbook and solutions manual offer readers the opportunity to develop insight and understanding, and also offer practical advice for solving problems using straightforward, intuitive numerical methods. Companion spreadsheets illustrating these techniques are available for free download.
Автор: Dickson, David C.m. Hardy, Mary R. Waters, Howard Название: Actuarial mathematics for life contingent risks ISBN: 0521118255 ISBN-13(EAN): 9780521118255 Издательство: Cambridge Academ Рейтинг: Цена: 4947 р. Наличие на складе: Невозможна поставка.
Описание: How can actuaries best equip themselves for the products and risk structures of the future? Using the powerful framework of multiple state models, three leaders in actuarial science give a modern perspective on life contingencies, and develop and demonstrate a theory that can be adapted to changing products and technologies. The book begins traditionally, covering actuarial models and theory, and emphasizing practical applications using computational techniques. The authors then develop a more contemporary outlook, introducing multiple state models, emerging cash flows and embedded options. Using spreadsheet-style software, the book presents large-scale, realistic examples. Over 150 exercises and solutions teach skills in simulation and projection through computational practice. Balancing rigour with intuition, and emphasising applications, this text is ideal for university courses, but also for individuals preparing for professional actuarial exams and qualified actuaries wishing to freshen up their skills.
Автор: Stiglitz Joseph E Название: Income Contingent Loans ISBN: 1137413190 ISBN-13(EAN): 9781137413192 Издательство: Springer Рейтинг: Цена: 5224 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This study explores the prospect of the application of the basic principles of ICL into many other potential areas of social and economic policy. Using case studies it evaluates previously implemented ICL schemes where interest rate subsidies are usually the norm, and questions the merits of this approach.
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