16 resultados para Term Securities Lending Facility (TSLF)
em Doria (National Library of Finland DSpace Services) - National Library of Finland, Finland
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Although securities lending is an important function of the financial markets, it has not received that much academic attention. This study examines the evolution of European securities lending and risk management with an emphasis on the development of collateral management, the function responsible for reducing credit risk. The effects of the recent financial instabilities are also considered. The evolution of the Finnish securities lending market is examined in more detail through a case-study. This study can be classified as a constructive qualitative case study. The initial practical knowledge comes from the author's own experience and additional insight and theoretical background is acquired through a literature review. The case study is based on research, semi-structured interviews and a brief analysis of numerical data. The main observation of this study was that securities lending is now recognized as more of an investment management discipline than an operational support function. The recent financial instabilities have resulted in an increased focus on risk and transparency. In securities lending this is directly reflected in collateral management guidelines and procedures. Collateral management has become increasingly technologically developed and automated. Collateral optimization initiatives have been started to make the process more efficient, liquid, and cost effective. Although securities lending is generally an OTC-market with no standard market place, centralized exchange-like models have been introduced. Finnish securities lending has now shifted towards the more common global OTC model. Although the Finnish securities lending industry has developed, and the main laws governing it (tax legislation) have changed, there is still need for development. There are still not many Finnish participants involved and due to legal issues most securities loans are collateralized with cash and not securities (e.g. government bonds).
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Selostus: Lannoituksen pitkäaikaiset kenttäkokeet: kolmen matemaattisen mallin vertailu
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Selostus: Vanhojen ja uusien kauralajikkeiden reagointi kuivuuteen kasvihuone- ja peltokokeissa
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Selostus: Maan fosforitilan muutos pitkäaikaisessa kenttäkokeessa hietamaalla
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Selostus: Eräiden ympäristövirikkeiden saatavuuden estämisen välittömät vaikutukset tarhaminkin käyttäytymiseen
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Tiivistelmä: Kunnostusojituksen pitkän ajan vaikutus valumaveden ominaisuuksiin
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Selostus: Pitkäaikaisen fosforilannoituksen vaikutus Suomen peltojen fosforitilaan. 1. Maan luontainen ja aikaisemmin kertynyt fosfori 24 koepaikalla