Introduction to Project Finance (Essential Capital Markets)
Introduction to Project Finance (Essential Capital Markets)
The term “project finance” is now being used in almost every language in every part of the world. It is the solution to infrastructure, public and private venture capital needs. It has been successfully used in the past to raise trillions of dollars of capital and promises to continue to be one of the major financing techniques for capital projects in both developed and developing countries.
Project Finance aims to provide:
*Overview of project finance
*Understanding of the key risks involved in project finance and techniques for mitigating risk
*Techniques for effective evaluation of project finance from both a financial and credit perspective
The author differentiates between recourse and non-recourse funding, tackles the issues of feasibility, identifies the parties normally involved with project finance plans, and details techniques for realistic cash flow preparation.
*Inspired by basic entry level training courses that have been developed by major international banks worldwide
*Will enable students, and those already in the finance profession, to gain an understanding of the basic information and principles of project finance
*Includes questions with answers, study topics, practical ‘real world’ examples and an extensive bibliography
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Categories: Loan Products Tags: Capital, Essential, Finance, Introduction, Markets, project
Broken Markets: A User’s Guide to the Post-Finance Economy
Broken Markets: A User’s Guide to the Post-Finance Economy
“I would sleep better if I knew that Bernanke, Geithner, Bachus, Sen. Tim Johnson, Obama and Romney all kept dog-eared copies of Kevin Mellyn’s Broken Markets on their nightstands. . . . Mellyn’s work is a fascinating, important, and eminently good read and should inform the debate on overhauling the U.S. and global financial regulatory systems and sustainable macro fiscal and monetary policy.”
–Eric Grover, in his review of Broken Markets in The American Banker
Broken Markets allows the intelligent non-specialist to understand and navigate the ongoing worldwide aftermath of the 2008 financial market meltdown. The key theme of the book is how the leading financial institutions and the political leadership of the U.S. and European Union have failed us and set the stage for continued market turmoil. It explains what this means for investors, borrowers, society in general, and the financial-services industry. Former banker Kevin Mellyn focuses on providing readers with clear and simple explanations of the forces at work and the potential consequences for their future prosperity.
As this book makes clear, what’s coming is a world in which high structural unemployment and flat or declining real income is likely—not to mention a diminished retirement financial safety net. The book therefore provides actionable information for protecting wealth and making prudent investment decisions in an economy that is nothing like the one that has sustained us for decades.
As a forward-looking narrative about rapidly changing events and volatile markets and politics, Broken Markets will provide no single prediction about the future but rather describe alternative scenarios and provide the reader with signposts to watch out for in deciding which reality is actually unfolding. Unlike most books written by journalists on global finance, the scenarios and signposts described will be largely based on the lessons of financial and political history rather than breaking news. This book:
- Tells you in plain language how today’s financial system threatens your livelihood and wealth
- Tells you why and how governments worldwide, with some notable exceptions, are taking actions likely to make things worse instead of better
- Explains how the leading financial institutions lost their way during the bubble years and how they can find the path back to prosperity and value to society
- Tells you what life will be like in a “post-finance” economy and how you can protect your wealth
What you’ll learn
After reading Broken Markets, you will:
- Understand how governments and financial leaders made poor decisions and the consequences in both the short and long term
- “Connect the dots” between seemingly unconnected market developments
- Understand how global finance really influences your livelihood
- Evaluate professional investment advice critically
- Make an independent, informed evaluation of competing economic and political policies
- Develop a long-term financial game plan for a “post-finance” world
- Impress your friends and family with your financial savvy
Who this book is for
Broken Markets is for people who have savings and investments, watch the business news, read the Wall Street Journal or Financial Times at least occasionally, and just want to make sense of the post-2008 crisis world while taking steps to protect their hard-won wealth. It is not intended for financial professionals, though it will strike a chord there. Mostly it is for the sensible, educated man and woman looking for straight talk and clarity. It is also a good choice for students and young people just starting their careers since it teaches them things their teachers (and often their employers) never told them. Above all, it is a good choice for anyone who likes to be informed, provoked into re-examining beliefs and assumptions, and entertained by sharp-edged writing.
Table of Contents
Introduction
Chapter 1: The Rise and Fall of the Finance-Driven Economy
Chapter 2: Banking, Regulation, and Financial Crises
Chapter 3: Economic Consequences of Regulation
Chapter 4: Life after Finance
Chapter 5: Global Whirlwinds
Chapter 6: The Consumer in the World After Finance
Chapter 7: The Reconstruction of Finance
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Categories: Loan Products Tags: Broken, Economy, Guide, Markets, PostFinance, User's
Counterparty Credit Risk: The new challenge for global financial markets (The Wiley Finance Series)
Counterparty Credit Risk: The new challenge for global financial markets (The Wiley Finance Series)
The first decade of the 21st Century has been disastrous for financial institutions, derivatives and risk management. Counterparty credit risk has become the key element of financial risk management, highlighted by the bankruptcy of the investment bank Lehman Brothers and failure of other high profile institutions such as Bear Sterns, AIG, Fannie Mae and Freddie Mac. The sudden realisation of extensive counterparty risks has severely compromised the health of global financial markets. Counterparty risk is now a key problem for all financial institutions.
This book explains the emergence of counterparty risk during the recent credit crisis. The quantification of firm-wide credit exposure for trading desks and businesses is discussed alongside risk mitigation methods such as netting and collateral management (margining). Banks and other financial institutions have been recently developing their capabilities for pricing counterparty risk and these elements are considered in detail via a characterisation of credit value adjustment (CVA). The implications of an institution valuing their own default via debt value adjustment (DVA) are also considered at length. Hedging aspects, together with the associated instruments such as credit defaults swaps (CDSs) and contingent CDS (CCDS) are described in full.
A key feature of the credit crisis has been the realisation of wrong-way risks illustrated by the failure of monoline insurance companies. Wrong-way counterparty risks are addressed in detail in relation to interest rate, foreign exchange, commodity and, in particular, credit derivative products. Portfolio counterparty risk is covered, together with the regulatory aspects as defined by the Basel II capital requirements. The management of counterparty risk within an institution is also discussed in detail. Finally, the design and benefits of central clearing, a recent development to attempt to control the rapid growth of counterparty risk, is considered.
This book is unique in being practically focused but also covering the more technical aspects. It is an invaluable complete reference guide for any market practitioner with any responsibility or interest within the area of counterparty credit risk.
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Credit Markets For The Poor Reviews
Credit Markets For The Poor
Access to credit is an important means of providing people with the opportunity to make a better life for themselves. Loans are essential for most people who want to purchase a home, start a business, pay for college, or weather a spell of unemployment. Yet many people in poor and minority communities—regardless of their creditworthiness—find credit hard to come by, making the climb out of poverty extremely difficult. How dire are the lending markets in these communities and what can be done to improve access to credit for disadvantaged groups? In “Credit Markets for the Poor,” editors Patrick Bolton and Howard Rosenthal and an expert team of economists, political scientists, and legal and business scholars tackle these questions with shrewd analysis and a wealth of empirical data.
“Credit Markets for the Poor” opens by examining what credit options are available to poor households. Economist John Caskey profiles how weak credit options force many working families into a disastrous cycle of short-term, high interest loans in order to sustain themselves between paychecks. Löic Sadoulet explores the reasons that community lending organizations, which have been so successful in developing countries, have failed in more advanced economies. He argues the obstacles that have inhibited community lending groups in industrialized countries—such as a lack of institutional credibility and the high cost of establishing lending networks—can be overcome if banks facilitate the community lending process and establish a system of repayment insurance. “Credit Markets for the Poor” also examines how legal institutions affect the ability of the poor to borrow. Daniela Fabbri and Mario Padula argue that well-meaning provisions making it more difficult for lenders to collect on defaulted loans are actually doing a disservice to the poor in credit markets. They find that in areas with lax legal enforcement of debt agreements, credit markets for the poor are underdeveloped because lenders are unwilling to take risks on issuing credit or will do so only at exorbitant interest rates. Timothy Bates looks at programs that facilitate small-business development and finds that they have done little to reduce poverty. He argues that subsidized business creation programs may lure inexperienced households into entrepreneurship in areas where little profitable investment is possible, hence setting them up for failure.
With clarity and insightful analysis, “Credit Markets for the Poor” demonstrates how weak credit markets are impeding the social and economic mobility of the needy. By detailing the many disadvantages that impoverished people face when seeking to borrow, this important new volume highlights a significant national problem and offers solutions for the future.
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Categories: Loan Products Tags: Credit, Markets, poor, Reviews
International Loan Documentation (Finance and Capital Markets)
International Loan Documentation (Finance and Capital Markets)
A detailed study of the terms of international loan documentation with comprehensive explanations of the purpose of the provisions and of areas which may require negotiation and with an emphasis on the wording of the Loan Market Association documents. The book provides a highly practical and comprehensive resource for bankers and lawyers, at all levels of experience, involved in international lending.
List Price: $ 278.00
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Categories: Loan Products Tags: Capital, Documentation, Finance, International, loan, Markets