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on 20-Dec-2014 (Sat)

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Annotation 149651150

#asset-swap #finance #gale-using-and-tradning-asset-swaps
In par/par asset swap, the bond is sold for par. The swap dealer (often the same person as the bond seller) ‘lends’ the buyer by P-100, where P is the full market price of the bond.
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Annotation 149651363

#asset-swap #finance #gale-using-and-tradning-asset-swaps
The result of using MVA asset swap as opposed to par/par is that the counterparty exposure is switched from the seller taking the exposure to the buyer taking the exposure - the buyer will get 100 for bond redemption and, given that the swap was on full dirty price of a bond, he will get P-100 from the swap dealer (so the buyer waits for money back, taking the exposure).
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Flashcard 149653225

Tags
#asset-swap #finance #gale-using-and-tradning-asset-swaps
Question
In MVA asset swap, the buyer’s receipts on the floating leg of the swap, which is based on a notional amount equal to the dirty price of the bond, are adjusted by a fixed spread such th at the future value of the swap equals the [...] by the dealer to the investor.
Answer
excess paid over par, P-100

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y>In MVA asset swap, the buyer’s receipts on the floating leg of the swap, which is based on a notional amount equal to the dirty price of the bond, are adjusted by a fixed spread such th at the future value of the swap equals the excess paid over par, P-100<body><html>

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Flashcard 149654366

Tags
#finance #steiner-mastering-financial-calculations-3ed
Question
The deal is generally a ["repo" or "reverse repo"?] if it is initiated by the party borrowing the security and lending the money.
Answer
"reverse repo"

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The deal is generally a "reverse repo" if it is initiated by the party borrowing the security and lending the money.

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Flashcard 149654377

Tags
#finance #steiner-mastering-financial-calculations-3ed
Question
A [...] is a cash borrowing or deposit which starts on one forward date and ends on another forward date. The term, amount and interest rate are all fixed in advance.
Answer
forward-forward

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A forward-forward is a cash borrowing or deposit which starts on one forward date and ends on another forward date. The term, amount and interest rate are all fixed in advance.

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Flashcard 149654402

Tags
#finance #steiner-mastering-financial-calculations-3ed
Question
The deal is generally a ["repo" or "reverse repo"?] if it is initiated by the party borrowing money and lending the security
Answer
repo

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The deal is generally a "repo" if it is initiated by the party borrowing money and lending the security

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Flashcard 149654415

Tags
#asset-swap #finance #gale-using-and-tradning-asset-swaps
Question
Quoted MVA spread involves a swap of notional equal to [...].
Answer
bond dirty price

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Quoted MVA spread involves a swap of notional equal to bond dirty price.

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Flashcard 149654428

Tags
#asset-swap #finance #gale-using-and-tradning-asset-swaps
Question
In MVA asset swap, the investor [who pays whom and how much?] the dealer at the maturity of the swap
Answer
receives P-100 from

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In MVA asset swap, the investor receives P-100 from the dealer at the maturity of the swap

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