ACCRUAL SWAPS AND RANGE NOTES PATRICK S. HAGAN BLOOMBERG LP 499 PARK AVENUE NEW YORK‚ NY 10022 PHAGAN1@BLOOMBERG.NET 212-893-4231 Abstract. Here we present the standard methodology for pricing accrual swaps‚ range notes‚ and callable accrual swaps and range notes. Key words. range notes‚ time swaps‚ accrual notes 1. Introduction. 1.1. Notation. In our notation today is always t = 0‚ and (1.1a) D(T ) = today’s discount factor for maturity T. For any date t in the future‚ let Z(t; T ) be the
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All About Lent Q: What is Lent? A:Historically‚ Lent is the forty day period before Easter‚ excluding Sundays‚ it began on Ash Wednesday and ended on Holy Saturday (the day before Easter Sunday). In recent years‚ this has been modified so that it now ends with evening Mass on Holy Thursday‚ to prepare the way for Triduum. Q: Why are Sundays excluded from the reckoning of the forty days? A: Because Sunday is the day on which Christ arose‚ making it an inappropriate day to fast and mourn our sins
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The Spiritual Practice of Lent The course Spiritual Exercises in Religious Traditions discussed the disciplines of a variety of religions based upon various traditions. These disciplines are practiced in forms of prayer‚ meditation‚ and asceticism to achieve a sense of self control. Religions that were analyzed in this course included Hinduism‚ Buddhism‚ Islam‚ Judaism and Christianity. The motive of this course was to teach students how these religions maintain their discipline through spiritual
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The article discusses four problem solving styles based on thinking‚ feeling‚ sensation‚ and intuition. The four styles are Sensation-Feeling‚ Intuition-Feeling‚ Sensation-Thinking‚ and Intuition-Thinking. Usually only one of the characteristics are dominant in an individual and the others are generally “back ups”. However‚ it should be understood that not everyone can be classified into one of the four pure types. Experience #1 I use a sensation-thinking problem solving style. This style
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Credit Default Swaps Credit default swaps are the transfer of third party credit risk from one party to the other party. The purchaser of the swap must make the payments until it reaches the maturity date of the assigned contract. A better understanding of CDS is “One party in the swap is a lender and faces credit risk from a third party‚ and the counterparty in the credit default swap agrees to insure this risk in exchange of regular periodic payments (essentially an insurance
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Christianity stands as the most widespread religion with over 2 billion followers. Christians believe that there has only been one God and he is the one who created everything on the earth today. The main festivals that Catholics celebrate are Lent‚ Easter and Christmas. In Christianity these festivals are very momentous and are always celebrated. The reason behind why Christians celebrate these festivals is because it reminds Christians the way Jesus lived his life up to when he passed away
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such rituals and ceremonies are a key factor towards an individual’s salvation. Ramadan and Lent are two sacred rituals that are performed by two different religions. Within the Islamic religion‚ both Sunni and Shi’a Muslims fast during the month of Ramadan. Within the Christian religion‚ it is very common within Catholic traditions for members of the church to participate during the forty-day season of Lent. Although these religions have separate annual calendars and religious regulations‚ both people
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Credit default swap (CDS) Credit default swaps‚ also known as default swaps‚ credit swaps and CDS‚ are the basic building block of thecredit derivatives market. Almost all credit derivatives take the form of a credit default swap‚ adn most of these swaps are based on a standard legal contract know as a confirm. An over-the-counter contract to transfer the credit risk of a reference entity‚ in which the protection buyer pays a premium and the protection seller makes a payment in the event of a default (credit
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What is intuition? Our dictionaries define intuition as the ability of acquiring knowledge without a clear inference or the use of knowledge‚ without the use of any reasoning process. Intuition provides us with beliefs that we cannot necessarily justify. After analysing this definition we must ask ourselves if this definition is totally reliable‚ isn’t intuition directly connected with our personal experience? To what extent is intuition to be taken as seriously in the different areas of knowledge
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Based on several studies it has been found that during nurse’s careers‚ that they have used their intuition as their guidance to make important decisions on their patients care. Intuition is a basic piece of nursing science that becomes possibly the most important factor when healthcare providers get to oblivious learning without restraint or speculation. One can also assume that intuition is also based on their overall experiences and knowledge acquired during their nursing practices. The purpose
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