The federal farm loan system, new method of farm mortgage finance, under national supervision; a practical manual upon organizing and conducting national farm loan associations, also joint stock land banks... /

Mode of access: Internet.

Annual report ... on the conditions of the Wisconsin building and loan associations of Wisconsin ...

Report made by the Bank examiner, 1897-1902; by the Commissioner of Banking, 1903- .

Loan exhibition of paintings by El Greco and Goya for the benefit of the American Women War Relief Fund and the Belgian Relief Fund. On exhibition at the galleries of M. Knoedler & Company... on view until January 23rd inclusive, 1915.

Includes bibliographical references.

Loan guarantees : current concerns and alternatives for control /

"Jan. 1979".

Government sponsorship of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.

"July 11, 1996."

Commercialization of synthetic fuels : alternative loan guarantee and price support programs /

Mode of access: Internet.

Catalogue of a loan collection of portraits of English historical personages who died between 1625 and 1714, exhibited in the Examination Schools, Oxford, April and May, MDCCCV.

Mode of access: Internet.

English music (1604 to 1904) being the lectures given at the Music Loan Exhibition of the Worshipful Company of Musicians, held at Fishmongers' Hall, London Bridge, June-July, 1904.

The evolution of the pianoforte, by T.L. Southgate.- Our English songs, by W.H. Cummings.- The early English viols and their music, by H. Watson.- Madrigals, rounds, catches, glees, and part-songs, by E.M. Lee.- The recorder, flute, fife, and piccolo, by J. Finn.- Music in England in the year 1604, by Sir F. Bridge.- Our dances of bygone days, by A.S. Rose.- Masques and early operas, by A.H.D. Prendergast.- English opera after Purcell, by F.J. Sawyer.- Our cathedral composers and their works, by G.F. Huntley.- The single and double reed instruments, by D.J. Blaikley.- The water-organ of the ancients and the organ of to-day, by F.W. Galpin.- The regal and its successors: the harmonica, by T.L. Southgate.- The violin family and its music, by W.W. Cobbett.- The brass wind instruments, by J.E. Borland.- Some notes on early printed music, by A.H. Littleton.- Music of the country-side, by Sir E. Clarke.

Large print catalog, 1973 : books in large print available on loan from The Blind and Physically Handicapped Library.

Cover title: Large print books.

Catalogue of a loan exhibition of ancient Chinese paintings, sculptures & jade objects from the collection formed by Charles Lang Freer & given by him to the nation through the Smithsonian Institution. Exhibition November 15 to December 8, 1917.

Comp. by Frederich William Gookin.

Catalogue of a loan exhibition of Japanese colour prints.

Mode of access: Internet.

Loan loss provisions, earnings management and capital management under IFRS:the case of EU commercial banks

Prior research has shown that loan loss provisions are primarily used as a tool for earnings management and capital management by listed banks. Effective 2005 all listed companies in the European Union (EU) are required to comply with International Financial Reporting Standards (IFRS). Adherence to IFRS, it is claimed, should enhance transparency of reporting practices relative to local General Accepted Accounting Principles (GAAP). The overall objective of this paper is to examine the impact of the implementation of IFRS on the use of loan loss provisions (LLPs) to manage earnings and capital. We use a sample of 91 EU listed commercial banks covering a period of 10 years (before and after implementation of IFRS). Since early adopters may have different incentives and motivations relative to those who adopt mandatorily, we dichotomize our sample into early and late adopters. Overall, we find that earnings management (using loan loss provisions) for both early and late adopters while significant over the estimation window is significantly reduced after implementation of IFRS. We also find that, for risky banks, earnings management behavior is more pronounced when compared to the less risky banks, but is significantly reduced in the post IFRS period. Capital management behavior by bank managers is not significant in both pre and post IFRS regimes. Overall, we conclude that the implementation of IFRS in the EU appears to have improved earnings quality by mitigating the tendency of bank managers of listed commercial banks to engage in earnings management using loan loss provisions.

Loan loss provisions, bank valuations and discretion : a comparative study between conventional and Islamic banks

This study investigates the use of reported loan loss provisions (LLP) by investors in their valuations of banks within the Middle East and North Africa region between the years 2006 and 2011. We decompose LLP into discretionary and non-discretionary components to test for differential valuations in the two banking sectors. We use alternative criteria to define the components of LLP in banks: loan quality/size and earnings management/ manipulation incentives. We employ a price-level valuation model estimated using two-stage analyses. We find that LLP has positive value relevance to investors in both banking sectors. Investors in Islamic banks price the discretionary component relatively lower than their conventional counterparts. We attribute this result to differences in product and governance structures as well as to the religious perception of Islamic banking. In both banking sectors, investors construe an increase in the non-discretionary component as irrelevant valuation information. Our results are relevant to bank regulators in showing the signalling effect of LLP to bank value and stability.

Loan loss provisions, bank valuations and discretion:a comparative study between conventional and Islamic banks

This study investigates the use of reported loan loss provisions (LLP) by investors in their valuations of banks within the Middle East and North Africa region between the years 2006 and 2011. We decompose LLP into discretionary and non-discretionary components to test for differential valuations in the two banking sectors. We use alternative criteria to define the components of LLP in banks: loan quality/size and earnings management/manipulation incentives. We employ a price-level valuation model estimated using two-stage analyses. We find that LLP has positive value relevance to investors in both banking sectors. Investors in Islamic banks price the discretionary component relatively lower than their conventional counterparts. We attribute this result to differences in product and governance structures as well as to the religious perception of Islamic banking. In both banking sectors, investors construe an increase in the non-discretionary component as irrelevant valuation information. Our results are relevant to bank regulators in showing the signalling effect of LLP to bank value and stability. © 2013 Elsevier B.V.

Válság és hitelderivatívák. A szintetikus fedezett adósságkötelezettségek (CDO-k) árazása és kockázataik (Crisis and loan derivatives. The pricing and risks of synthetic collateralized debt obligations)

A dolgozat első részében röviden áttekintjük a 2007-ben kezdődött pénzügyi válság lefolyását és a válsághoz vezető okokat. A bemutatás során igyekszünk végig a mögöttes folyamatokra és azok mozgatórugóira koncentrálni, ezzel megragadva a válság egyfajta "elméletét". A bemutatásból láthatóvá válik a hitelderivatívák kiemelt szerepe a válság során. A dolgozat második részében az egyik legnépszerűbb hitelderivatív termék, a szintetikus fedezett adósságkötelezettségek (CDO-k) matematikai modellezését és annak problémáit mutatjuk be. Sokak szerint ezek a matematikai modellek okozták - vagy legalábbis felerősítették - a válságot. Az elemzés során megmutatjuk, hogy nemcsak a modellezési eszközök nem voltak megfelelők, hanem az árazás elve sem állta meg a helyét a kockázatsemleges árazási keretben. Ez az eredmény élesen rámutat a mögöttes elméletek válságára. / === / The first part of the paper examines briefly the financial crisis of 2007 and its causes, focusing on its driving processes and key motifs. This shows clearly the importance and centrality of credit derivatives in the crisis. The second part presents a mathematical modelling of one of the most popular credit derivative products: synthetic collateralized debt obligations, along with the drawbacks and problems of the modelling process. It is widely claimed that these products caused or at least precipitated the crises. The authors show not only that the modelling tools were inappropriate, but that the principle for pricing did not match adequately the risk-neutral valuation framework.