Übersetzung für "Bankanleihen" in Englisch

Could now be the time for bank bondholders to see defaults, where they are needed?

Like bank lending, share ownership also became internationalised.

But there remain little new securitization and bank debt offerings without government backup.

This book contains liquid bank bonds.

In The Netherlands TriodosBank has invested its liquidities in Dutch government bonds, municipalities and banks.

Not only the small farmers in France, Spain and Greece, but even the bigger farmers in the Netherlands, who are currently highly dependent on the money they have borrowed from the banks.

That report’s main conclusion is that restructuring planning is not yet reflected in the market’s pricing of bank bonds.

The bulk of the aid was authorised in 2008, when € 3457 billion (27.7% of EU GDP) were approved, mainly under the form of guarantees on banks' bonds and short-term liabilities.

However, because of the limited explanatory power of the regression analysis on the sample of structured bank bonds (see footnote 55), and given that mutual funds are not an appropriate comparable for index-linked postal savings certificates, the Commission shares the expert’s view that the comparison has to rely on the results of the descriptive statistics.

Even if Treasury bonds were to be taken to be the closest comparable to postal savings certificates, on the same footing as bank-issued bonds, the expert concluded that their inclusion would not affect the empirical assessment of the market remuneration for the distribution of postal savings certificates.

Second, the descriptive part of decision N 401/97 indicates that the yard will finance a part of the restructuring plan by means of bank loans amounting to GRD 4,67 billion borrowed on market terms without State guarantees.

In addition, if it turned out that this loan benefited from a State guarantee, it seems to infringe decision N 401/97, which indicated that, in order to finance the investment programme, bank loans would be raised at normal market conditions without State guarantees.

The commissions sought by banks for distributing bank bonds for the account of third parties averaged between 1 % and 1,5 % of the amount placed.

In particular, bank bonds were not homogeneous in all the relevant respects, and might not be homogeneous with the particular class of postal savings certificates to which they were to be compared.

To make the remuneration for the distribution of postal savings certificates comparable to the remuneration for similar financial products, the expert converted the dual remuneration schedule of the certificates into an equivalent estimated overall upfront fee which would be directly comparable with the actual upfront fee computed for bank bonds and mutual funds.

Italy uses the general term ‘corporate bonds’, but the reference sample employed in the benchmark study is made up mainly of bonds issued by banks (see p. 7 in the Italian authorities’ letter of 22 June 2007).

Regression analysis would be meaningless here, because the mutual funds were by contractual design homogenous with respect to the variables employed in the regression analysis for bank bonds.

This comparison is not appropriate, because Treasury products are distributed essentially to institutional investors, while bank bonds and postal savings certificates are distributed according to the typical process of the retail segment of the market.

In conclusion, the Commission takes the view that the comparators relevant for purposes of the present Decision are those identified by the expert study, i.e. bank bonds in the first place, and then mutual funds with similar characteristics.

In this regard, since for bank bonds the only fees paid are distribution fees, the Commission considers it right to compute equivalent upfront fees for mutual funds.

However, he was able to find distribution fees for 162 bank bonds issued before 2006.

In this regard, the expert pointed out that in the case of index-linked certificates the results of the simulation appeared difficult to reconcile with fundamental economic mechanisms: it was not apparent why index-linked certificates should command fees so much lower than the average obtained in the equity-linked bank bonds subsample. This point, coupled with the evidence about the low explanatory power of the regressions for the fees of indexed certificates, suggested in the expert’s opinion that more weight should be given in this case to the result of the simple comparison of average values, which gave a more decisive indication of market conformity.

Managing these steps requires an organisational effort that is not needed, or is at least easier, in the case of dematerialised postal savings certificates and bank bonds.

Thus the larger remuneration on the annual stock of paper certificates seems to be justified by the specific tasks that PI performs in respect of these paper certificates, so that a comparison between the overall estimated upfront fees for paper ordinary postal savings certificates and bank-issued bonds would be biased against PI, and a determination of the question whether the remuneration for postal savings certificates is market-conform ought to be based mainly on the evidence concerning dematerialised certificates.