Asset

PREMIERE PARTIE Introduction aux Métiers de la Banque de Marché Mars 2012 Philippe GIORDAN - LICENCE PARIS DAUPHINE PARTIE INTRODUCTIVE Philippe GIORDAN Private Asset Management +352 4797 2791 philippe.giordan@kbl-bank.com Sommaire Introduction : la recomposition du système bancaire international Sect 1 – Les trois lignes-métier de l’activité bancaire Sect 2 – La salle des Marchés Sect 3 – Exemples Sect 4 – Recrutement et perspectives de carrière Sect 5 – Les offres de stage

up to a point. On the other hand, inequality of inherited or socially ascribed income is likely to be anti-growth. Furthermore, there are other types of inequality that are definitely anti growth. For example, high inequality in the distribution of assets (e.g. land) can be detrimental to growth. V. Policy Options Government Objective: Reduce poverty and excessive inequality while accelerating economic growth rates. A. Areas of Intervention The government can intervene in the following respects:

More generally, it gives a panorama of different ALM solutions applicable to pension funds. A good ALM solution requires a precise analysis of actuarial and financial risks threatening pension funds and a constant cooperation between teams working on assets and those pricing liabilities. The recent statutory and accounting constraints (Solvability II and IFRS) force actuarial research to improve existing matching methods (like cash flow matching and duration matching) and develop other ones like the

their fees and was part of the scenario. Everyone was engaged in the transactions with Enron. How could someone say they acted in good faith? They produced cash without showing their debts on the balance, cooking the books and purchasing their own assets, assets that did not even exist. How the best financial markets analysts could have missed this? There was just no incentive for someone to step up and speak out, or too much incentive to say nothing. They just didn’t ask themselves why. Ask why? Did

conformes Crée Originateur R td ch a a o up ol ité uid Liq Rehaussement Cash SPV/SPC émetteur Cash Sukuk Tranching 52 Transfert de droits relatifs au pool (usus, fructus, abusus) Investisseurs en sukuk Toujours « asset-based », parfois « asset-backed ». Conclusions 1. Pour le marché des sukuk, nous anticipons davantage de: Complexité et diversité Volumes et d’écarts dans la qualité de crédit Titrisation, structuration et subordination Liquidité, ou l’émergence d’une finance

membre de l’OCDE | 0% | Banque membre de l’OCDE | 20% | Crédits garantis par une hypothèque | 50% | Autres banques, entreprises et particuliers | 100% | On appelle cette pondération le Risk Weight (RW) et les actifs pondérés les Risk Weight Asset (RWA). On a donc Regulatory Capital = 8% RWA

fonds actions: - les indices Islamiques - gestion du risque de marché: performance des fonds et contrôle de volatilité - protection de portefeuilles - protection de capital des fonds equity p p q y • Etude de cas pratiques Public Risk managers, Asset & Fund managers, Consultants, Analystes Répartition Pratique 30 % Théorie 70 % Commandez votre session inter/intra au tél. 01 44 94 92 50 Prochaines sessions inter-entreprise : 22 et 23 octobre – 19 & 20 novembre – 10 & 11 décembre 9,

l'entreprise en matière de sécurité, • Organisation de la sécurité (Security Organisation) : Définition des rôles et des responsabilités. Mise sous contrôle des partenaires et de l'activité externalisée, • Classification des biens et contrôle (Asset Classification and Control) : Etat des lieux des biens de l'entreprise et définition de leur criticité et du risque associé, • Sécurité du personnel (Personnel Security) : Embauche, formation et sensibilisation à la sécurité, • Sécurité physique

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and advances than on a single, major technological breakthrough. It often involves ideas that are not even “new”—ideas that have been around, but never vigorously pursued. It always involves investments in skill and knowledge, as well as in physical assets and brand reputations. Michael Porter, 1990, « The Competitive Advantage of Nations », HBR, March-April, p. 75.