Auction Rate Securities Market
Title | Auction Rate Securities Market PDF eBook |
Author | United States. Congress. House. Committee on Financial Services |
Publisher | |
Total Pages | 228 |
Release | 2008 |
Genre | Business & Economics |
ISBN |
Auction Rate Securities Market
Title | Auction Rate Securities Market PDF eBook |
Author | United States House of Representatives |
Publisher | |
Total Pages | 228 |
Release | 2019-10-22 |
Genre | |
ISBN | 9781701629271 |
Auction rate securities market: a review of problems and potential resolutions
Auction Rate Securities Market :.
Title | Auction Rate Securities Market :. PDF eBook |
Author | United States. Congress. House. Committee on Financial Services |
Publisher | |
Total Pages | |
Release | 2008 |
Genre | |
ISBN |
Auction Rate Securities Settlements With Citigroup And UBS To Provide $30 Billion In Liquidity
Title | Auction Rate Securities Settlements With Citigroup And UBS To Provide $30 Billion In Liquidity PDF eBook |
Author | Backgroundnow.com Staff |
Publisher | www.BackgroundNow.com |
Total Pages | 40 |
Release | 2008-12-13 |
Genre | |
ISBN | 1440493537 |
The SEC finalized settlements December-11 with Citigroup Global Markets, Inc. and UBS Securities LLC and UBS Financial Services, Inc. that will provide nearly $30 billion to customers who invested in auction rate securities before the market for those securities froze in February.
Auction-rate Securities
Title | Auction-rate Securities PDF eBook |
Author | D. Andrew Austin |
Publisher | |
Total Pages | 29 |
Release | 2008 |
Genre | Auctions |
ISBN |
The Fragility of Discretionary Liquidity Provision- Lessons from the Collapse of the Auction Rate Securities Market
Title | The Fragility of Discretionary Liquidity Provision- Lessons from the Collapse of the Auction Rate Securities Market PDF eBook |
Author | Divisions of Research and Statistics and Monetary Affairs Federal Reserve Board |
Publisher | CreateSpace |
Total Pages | 54 |
Release | 2014-06-28 |
Genre | Business & Economics |
ISBN | 9781500338336 |
We study the fragility of discretionary liquidity provision by major financial intermediaries during systemic events. The laboratory of our study is the recent collapse of the auction rate securities (ARS) market. Using a comprehensive data set constructed from auction reports and intraday transactions data on municipal ARS, we present quantitative evidence that auction dealers acted at their own discretion as “market makers” before the market collapsed. We show that this discretionary liquidity provision greatly affected both net investor demand and auction clearing rates. Importantly, such discretionary liquidity provision is fragile. As auction dealers suffered losses from other financial markets and faced increasing inventory pressure, they stopped making markets. Moreover, the drop in support occurred suddenly, apparently triggered by the unexpected withdrawal of one major broker-dealer.
Auction Rate Securities Market
Title | Auction Rate Securities Market PDF eBook |
Author | United States Congress House of Represen |
Publisher | |
Total Pages | 230 |
Release | 2015-02-14 |
Genre | |
ISBN | 9781297011733 |
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