Debt

unstable. 1. c-Stages: The end to dollarization is a process of substitution. Reasoning by three main functions of money, the currency in question is gradually replacing the national currency, initially as a unit of account, that is to say through debt contracts (dollarization of assets and liabilities), prices and wages (real dollarization). It depends on the measure of agents and companies that have the capacity to influence by capturing dollarization currency through exports, which promotes the

switch : si la balance clearing est déséquilibrée, la créance est transférée à un pays tiers contre un paiement en devises (switch financier) ou en marchandises (switch commercial) build-operate-transfer (en) swap dont les debt-for-nature swap (en)

What is the credit crisis? It’s a worldwide financial fiasco involving terms like: - Sub-prime mortgages - Collateralized debt obligation - Frozen credit markets - Credit default swaps Who is affected? EVERYONE How it has been happen? The credit crisis brings two groups of people together => Homeowners and Investors Homeowners represent their mortgages and Investors represent their money. These mortgages represent houses and the money represents large Institutions such Pension

you. You give the heart’s husband to me, a stranger for you and I think that your movement is so wonderful. I’m still alive thanks to you today. I am sorry for your husband, sincere condolences ! If I can do something to help you, I’m there. I’ve a debt towards you and you can ask me all what you want. This car accident has completely changed my life : before this accident I was happy-go-lucky, very proud and racist I confess, but this crash has opened my eyes. You have opened my eyes.I’m sure it

international payments (e.g., imports, external debt redemptions) while maintaining adequate reserve buffers going forward. An IMF loan provides a cushion that eases the adjustment policies and reforms that a country must make to correct its balance of payments problem and restore conditions for strong economic growth. The changing nature of IMF lending The volume of loans provided by the IMF has fluctuated significantly over time. The oil shock of the 1970s and the debt crisis of the 1980s were both followed

placement Autres Dettes Disponible * Impôts des sociétés (38,1%) *Dividendes Balance Sheet Active Passive Fixed Assets Shareholders’ Equity *Intangibles assets Capital *Tangible assets (PPE) Reserves *Investments    Financial debt: Interest bearing debts Inventory Supplieurs payables Receivables Other liabilities Cash Equivalence   Cash   Le bilan est la photographie de la situation patrimoniale de l’entreprise. (Patrimoine: différence entre ce que l’entreprise

fonds, ont crée, hors de leur bilan des sociétés spécifiques (Special Purpose Vehicules) qui élaborent la titrisation des produits plus ou moins complexes. En effet, elles ont pour objectif de constituer un produit structuré comme les Collaterised Debt Obligations (obligations adossées à des actifs) présentant un niveau de risque et de rémunération divergent. En conséquence, les investisseurs prudents peuvent acheter les tranches les moins risquées normalement prémunies contre la défaillance des

Then, the excessive use of financial means. For example costumers in financial titulars by creating a corporation. It is a method used by banks to enable them to refinance. This method is nevertheless down because nobody wants buy more property debt considered at risk. Finally, the borrower failure. In fact the borrower was believed creditworthy can not repay, the bank is increasing its costs. And with the declining of market property, creditor can not even recover its investment by selling

« véhicules de titrisation » ( special purpose vehicles), les banques transforme les subprimes en titres financiers. Une fois transformé en titres financiers, les subprimes ont été intégrés à des produits financiers opaques tels que CDO ( Collatored Debt Obligation ) qui peuvent comprendre jusqu'à 250 valeurs immobilières adossées à des actifs. La crise du marché immobilier américain a révélé une mauvaise évaluation du risque attaché aux subprimes déstabilisant le système bancaire . Hausse du taux

Désigne aussi parfois titrisation crédits autres que crédits hypothécaires (par exemple emprunt financés par cartes de crédits...) ● MBS (Mortgage Backed Securities) lorsque les créances titrisées sont des crédits hypothécaires. ● CDO (Collateralised Debt Obligations) = titrisation de titrisation: Actif Passif ABS CDO ● Pass-Through: Les revenus issus des actifs titrisés sont reversés aux différents détenteurs de parts de manière identique i.e. sans établir de distinction entre chacun d'eux et au