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1 risk-adjusted return on capital
risk-adjusted return on capital (RAROC) BANK, FIN, ECON risikoadjustierte Eigenkapitalrendite f, risikobereinigte Eigenkapitalrendite f (risk-based capital allocation; durch risikobasierende Kapitalallokation zur Mikro- und Makrosteuerung von Banken geeignete Renditekennzahl; RAROC = (Erträge - Standardrisikokosten - Verwaltungskosten): zugeordnetes ökonomisches Kapital)Englisch-Deutsch Fachwörterbuch der Wirtschaft > risk-adjusted return on capital
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2 during the preshipment period
preshipment period: during the preshipment period FIN, IMP/EXP, INS während der Fabrikation f; in der Produktionsphase f (risk allocation, Risikozuordnung)Englisch-Deutsch Fachwörterbuch der Wirtschaft > during the preshipment period
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3 originate-to-distribute business model
originate-to-distribute business model BANK, ECON Originate-to-distribute-Geschäftsmodell n (a business model that combines classic bank lending business with modern forms of risk transfer: whilst the debt is generated = originated as normal – whereas traditionally it was held on the originating bank’s balance sheet – it is instead bundled and broken up into tranches by the originating bank for sale to investors; each tranche has a different credit rating with the higher risk tranches carrying the lowest ratings and highest yield, the first-loss position = FLP in true-sale or synthetic securitizations should be -but is not always- held by the originator so that the risk of default = Kreditausfallrisiko no longer remains on the books of the originating bank – resulting in a possible slipping of its lending standards! – but is spread = distributed among untraceable investors who are willing to take high risk on the global capital markets for high returns; the positive capital allocation effect of the model is combined with the negative consequence of intransparency about the resulting risk distribution; Verbindung des klassischen Bankkreditgeschäfts mit modernen Formen des Risikotransfers: Kredite werden von der Originator-Bank kreiert, ausgereicht = originated, gebündelt, tranchiert und verbrieft im OTC-Markt intransparent weiterplatziert, teilweise einschließlich der risikoreichsten Tranche, der Equitytranche = Erstverlusttranche = first loss piece = FLP = first loss position = equity piece; mit diesem Geschäftsmodell entledigten sich die US-Originator-Banken ab ca. 2000 des Interesses an der Prüfung und Überwachung der Qualität der zugrunde liegenden Kredite, von denen keine Spur in ihrer Bilanz zurückblieb – im Gegensatz zu ihrer GuV; saurer Landwein wurde im Durchlauf durch die Verbriefungsmaschine zum Qualitätswein ausgebaut, der sodann, mit der Hilfe von Mathematikern der bereits an der Strukturierung beteiligten Ratingagenturen zum Grand Cru geadelt, mit AAA-Etikett weltweit vermarktet wurde; synonym: originate-and-distribute business model; cp. financial alchemy = Finanzalchemie)Englisch-Deutsch Fachwörterbuch der Wirtschaft > originate-to-distribute business model
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4 RAROC
RAROC (Abk. für risk-adjusted return on capital) BANK, FIN, ECON risikoadjustierte Eigenkapitalrendite f, risikobereinigte Eigenkapitalrendite f (risk-based capital allocation; Renditekennzahl auf Basis risikoadjustierter Kapitalallokation; RAROC ergibt sich als -Erträge minus Standardrisikokosten minus Verwaltungskosten- dividiert durch das zugeordnete ökonomische Kapital)
См. также в других словарях:
risk allocation — the process of apportioning responsibility for various risks, or operational or financial issues, to the different parties involved in a PPP. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 … Law dictionary
risk matrix — a table identifying the risks involved in a project, indicating the provisional risk allocation for each risk and any mitigation of that risk, such as insurance. Practical Law Dictionary. Glossary of UK, US and international legal terms.… … Law dictionary
Risk adjusted return on capital — (RAROC) is a risk based profitability measurement framework for analysing risk adjusted financial performance and providing a consistent view of profitability across businesses. The concept was developed by Bankers Trust in the late 1970s. Note,… … Wikipedia
Risk Management Information Systems — (RMIS) are typically computerized systems that assist in consolidating property values, claims, policy, and exposure information and provide the tracking and management reporting capabilities to enable you to monitor and control your overall cost … Wikipedia
Risk premium approach — The most common approach for tactical asset allocation to determine the relative valuation of asset classes based on expected returns. The New York Times Financial Glossary … Financial and business terms
risk premium approach — A common approach for tactical asset allocation to determine the relative valuation of asset classes based on expected returns. Bloomberg Financial Dictionary … Financial and business terms
Capital allocation decision — Allocation of invested funds between risk free assets versus the risky portfolio. The New York Times Financial Glossary … Financial and business terms
capital allocation decision — Allocation of invested funds between risk free assets and the risky portfolio. Bloomberg Financial Dictionary … Financial and business terms
Asset allocation — is a term used to refer to how an investor distributes his or her investments among various classes of investment vehicles (e.g., stocks and bonds). A large part of financial planning is finding an asset allocation that is appropriate for a given … Wikipedia
Global tactical asset allocation — Global Tactical Asset Allocation, or GTAA, is an investment strategy that attempts to exploit short term market inefficiencies by establishing positions in an assortment of markets with a goal to profit from relative movements across those… … Wikipedia
Asset Allocation — An investment strategy that aims to balance risk and reward by apportioning a portfolio s assets according to an individual s goals, risk tolerance and investment horizon. The three main asset classes equities, fixed income, and cash and… … Investment dictionary
