Mortgage loan

spécifique, le SPV (Special Purpose Vehicule). Le SPV finance alors l’acquisition de ces créances par l’émission de titres, dénommés de la manière la plus générale ABS (Asset Backed Securities). Mais, la pratique anglo-saxonne consiste à parler de MBS (Mortgage Backed Securities) lorsque les créances titrisées sont des crédits hypothécaires, et à n’utiliser le terme ABS que pour les autres opérations, comme par exemple la titrisation de prêts à la consommation ou de prêts automobile. 34 Chapitre

contained in publications such as The Corporate Finance Handbook. For this edition, the SBS has provided details of the initiatives it is taking forward in the area of SME finance. Alongside its well-established national programmes, such as the Small Firms Loan Guarantee Scheme and the Smart scheme, the SBS has created a UK High Technology Fund and Regional Venture Capital Funds – the latter should start making investments in growth businesses in the regions later in the year. The SBS is also taking forward

biens et non sur la capacité de remboursement, nombre de ménages sont ainsi devenus propriétaires sans en avoir les moyens. Graphique 1 – Emissions annuelles de prêts hypothécaires aux ménages américains en milliards de dollars (Source : Inside Mortgage Finance) 4000 3500 3000 2500 2000 1500 1000 500 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 La croissance des prêts immobiliers et la concurrence entre banques ont dopé le mécanisme de désintermédiation

project if it is still underfunded? Because there’s no point throwing good money after.......... Formation Continue et Développement – École normale supérieure de Cachan page 8/28 Anglais des affaires et des finances 3. Can’t we pay off the loan with the money that’s coming in from our subsidiaries in the Gulf? Well, most of that money is ........... up, I’m afraid. 4. So, why aren’t we investing in a new plant? Because I’m afraid money is a bit ............ at the moment. 5. How much

prétextant que les risques seront bien gérés et que cette chute n’aura pas beaucoup d’impact sur les revenus. xii- Le début de la fin En août 2007, Lehman Brothers ferme sa filiale BNC Mortgage en charge de l’octroi des prêts subprimes. Ensuite, Lehman Brothers ferme aussi ses filiales Aurora Loan Services en charge de l’octroi des crédits de type Alt-A [9][?] dans trois Etats. Cependant, Lehman a continué à être un acteur important du marché des prêts hypothécaires et enregistre plus de

WORDWORK (p. 16) wordfile-p.16-1a Corrigé 1/a, 2/c, 3/c, 4/a, 5/b, 6/c, 7/a, 8/c. wordfile-p.16-1b 1/d, 2/f, 3/e, 4/j, 5/i, 6/a, 7/h, 8/g, 9/c, 10/b. wordfile-p.16-2 A. 1/c, 2/d, 3/e, 4/b, 5/a. B. 1. cash dispenser, withdraw, 2. currency, 3. borrow, loan, 4. tip, coins, 5. refund. C. 1/e, 2/a, 3/d, 4/b, 5/f, 6/c. (p. 16) Corrigé teamfile-p16-1 1. Keith Waterman. Sociologist. Make Money by Giving it Away. 2. Bill Gates; giving a lot of money to charity (or co-founding Microsoft is probably what he is

the project if it is still underfunded? Because there’s no point throwing good money after.......... Formation Continue et Développement – École normale supérieure de Cachan page 8/28 Anglais des affaires et des finances 3. Can’t we pay off the loan with the money that’s coming in from our subsidiaries in the Gulf? Well, most of that money is ........... up, I’m afraid. 4. So, why aren’t we investing in a new plant? Because I’m afraid money is a bit ............ at the moment. 5. How much of that

inférieure à un écart-type, la couleur verte est attribuée ; le jaune correspond à une différence comprise entre un et quatre écarts-types ; l’orange entre quatre et sept ; et le rouge au-delà de sept écart-types. * CMBS = commercial mortgage-backed security RMBS = residential mortgage-backed security Source et calculs : FMI (GSFR) 34 BANQUE DE FRANCE • DOCUMENTS ET DÉBATS • N° 3 • JANVIER 2010 CHAPITRE 2 • LE PASSAGE DE LA CRISE FINANCIÈRE À LA CRISE ÉCONOMIQUE Selon les dernières prévisions

wriggle out of paying royalties; labels think they own an artist because they've paid big money advances. (Which, in a sense, they do. Even if a band repays everything it owes, the label retains the rights to its records. It's like paying off your mortgage to discover that the bank still owns your house.) When Guy Hands first arrived at EMI, he clearly felt that the artists were working for the record company, rather than the other way around. A recent EMI strategy was to make previously unheard tracks

provided that the source is acknowledged. As at 14 July 2010. ISSN 1725-6593 (online) CONTENTS ABBREVIATIONS FOREWORD 1 INTRODUCTION 2 MAIN FINDINGS 3 THE EURO IN GLOBAL MARKETS 3.1 The euro in international debt markets 3.2 The euro in international loan and deposit markets 3.3 The euro in foreign exchange and derivatives markets 3.4 The euro in international trade in goods and services 4 THE USE OF THE EURO IN COUNTRIES OUTSIDE THE EURO AREA 4.1 Official use: the euro as anchor and reserve currency