on 2023/07/21 by alex1, []

In principle, public levies are to be distributed among the payers in such a way that they correspond to the benefits that the individual payer (citizen, company) receives from the state. – In reality, however, the state has to spend more on individuals than they can reimburse it (e.g. social welfare, legal services, schools). Moreover, […]

on 2023/07/21 by alex1, []

In the financial market, an institution that assumes responsibility for issuing a bond (underwriting) and for lead management on behalf of a customer and, under certain circumstances, also for market management. In the case of securitizations in particular, this is a service provider that – takes over asset-backed securities handed over to it by a […]

on 2023/07/21 by alex1, []

Specially created securities used for refinancing purposes that are backed by a pool of similar assets (e.g. mortgage loans granted, leasing receivables, credit card receivables or also by a life insurance portfolio; collectively usually referred to as receivables portfolio, assets). – The debt service of the issued securities is borne by the pool’s income. If […]

on 2023/07/21 by alex1, []

The correlation of the change in the enterprise value of two companies. In the context of risk measurement, a corresponding ratio is related to companies whose credit risk largely depends on the same risk factor due to their activity in the same industry. – See industry concentration. – Cf. Deutsche Bundesbank Monthly Report June 2006, […]

on 2023/07/21 by alex1, []

A takeover in which a large part of the purchase price – in some cases even all of it – is raised by selling assets of the acquired company. – See Asset Deal, Ausschlachten, Burn-Out Turnaround, Finanzgeier, Go-go-Fonds, HedgeFonds, Heuschrecken, Kapital-Abzapfung, Leveraged Buy-out, Private-Equity-Funds, Risikokapital, Trade Sale, Vulture Fund, Window on Technology. – Cf. ECB […]

on 2023/07/21 by alex1, []

Unless otherwise defined, in a swap transaction – and here again particularly in an interest rate swap – this refers to the transfer of a contractual position to a new counterparty. The previous counterparty in the swap transaction must be prepared to accept the new contractual partner (party to the agreement). – See Close-out, Reversal. […]

on 2023/07/21 by alex1, []

In the language of regulators, interwoven with instantaneous actions, subsequent and often very multi-layered consequences of actions that cause or increase exposure to the financial market. Good incentive systems are characterized by ensuring an appropriate balance between profit and liability, as is usually the case with longer-term business relationships. – In the course of the […]

on 2023/07/21 by alex1, []

In general, the purchase price of an asset plus the usual incidental acquisition costs. Incidental acquisition costs are payments made in addition to the purchase price in the narrower sense, such as, for example, broker’s commission, land transfer tax, court and notary fees, surveying costs, land registration fees, development fees for connection to roads, sewers […]

on 2023/07/21 by alex1, []

Unless otherwise explained, this refers to the payment of money or the granting of financial benefits, such as tax exemption, to individuals, such as top managers of the financial industry, or to companies, in order for them to settle in a certain place, such as the city of Geneva. – See poaching money, douceur, manager […]

on 2023/07/21 by alex1, []

Working group within the Banking Supervision Committee with the aim of bringing about an exchange of data between the countries‘ central credit registers (initially in the euro area) and harmonizing the corresponding measurement procedures. – See Central Credit Register. – Cf. Annual Report of the Deutsche Bundesbank 2003, p. 180. Attention: The financial encyclopedia is […]