Federal Reserve Bank of New York Staff Reports Shadow Banking Zoltan Pozsar Tobias Adrian Adam Ashcraft Hayley Boesky Staff Report no. 458 July 2010 This paper presents preliminary findings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the authors and are not necessarily reflective of views at the Federal Reserve Bank of New York or the Federal Reserve System. Any errors
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Museum Paper I went to the Cantor Center for Visual Arts on Stanford Campus on 2/28/13. I saw a lot of sculptures and vases there. They are very beautiful and interested. The most interested one I think was Kleophon Painter‚ “Volute Krater”‚ ca. 430 BCE‚ Greece‚ red-figure terra cotta vase‚ size 26’ ¾” * 19’ *19’. Hazel D. Hansen Fund‚ 12‚ 1972 Cantor Arts Center at Stanford University. This vase is located in the Iris & B Gerald Cantor Center from the classical period between 479-323 BCE
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neither leakage nor arbitrage occurs between the two markets‚ but it is excessively theoretical. In the modern capitalistic world‚ goods are transferred to any places where they are possibly sold at. Although the trade could be blocked by the law‚ there must be some leakage between the two markets as long as people can shift to each place. This article is about drug markets of U.S and South Africa where distantly locate from each‚ therefore the amount of leakage and arbitrage could be trivial to
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European Exploration—Causes and Effects Causes Desire for wealth and power. (Gold and Glory) European explorers hoped to find riches in distant countries and to discover a sea route to Asia. Search for spices (nutmeg‚ ginger‚ cloves‚ cinnamon‚ pepper‚ etc.) and luxury goods (silk‚ gold‚ silver‚ jewels‚ ivory‚ porcelains‚ tea‚ etc.) from Africa and the East. Religious aims (God) Europeans hoped to spread Christianity to people throughout the
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and out of order the anthropologists would be able to determine which was cervical‚ lumbar‚ or thoracic‚ because the cervical vertebrae include interlocking vertebrae bodies with saddle shaped superior and inferior surfaces alongside the canal is triangular and of a similar size to the vertebral body‚ and the spinous process are shorter then in thoracic and not as massive as the lumbar vertebrae process. The thoracic vertebrae
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maintain the sugar plants in Barbados. The Triangular trade route which was a transatlantic slave trade‚ that functioned from the late 16th to early 19th centuries‚ carrying slaves‚ cash crops‚ and manufactured goods between West Africa‚ Caribbean or American colonies and the European colonial powers‚ with the northern colonies of British North America‚ especially New England‚ sometimes taking over the role of Europe. Equiano was apart of this triangular trade route; Equiano was transported from Africa
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CHAPTER 5 Determination of Forward and Futures Prices Practice Questions Problem 5.8. Is the futures price of a stock index greater than or less than the expected future value of the index? Explain your answer. The futures price of a stock index is always less than the expected future value of the index. This follows from Section 5.14 and the fact that the index has positive systematic risk. For an alternative argument‚ let µ be the expected return required by investors on the index so that E (
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change their long term positions at the lowest transaction cost possible. Secondly‚ proprietary algorithms were the ones used to take advantage of minor movements in the market. This type of trading facilitated computer power to quickly respond to arbitrage opportunities‚ mispricing and market signals before they are integrated into an asset market price. As insisted by
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The history of Barings Bank Plc began in 1762 and thus making it the oldest merchant bank of London. Over this period it had managed to earn a high reputation in the global finance market as it assisted in financing the purchase of Louisiana‚ Erie Canal and the Napoleon wars (Fay‚ 1996). It was also known as the Queens bank due to the fact that the Queen had an account with Barings. But this success was interrupted in the Mid 90’s when Barings caught the attention of the world due to bankruptcy which
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College of Engineering‚ University of the Philippines‚ Diliman‚ Quezon City 1101‚ Philippines msdimain@yahoo.com jadegonzales019@yahoo.com ronelpancho@yahoo.com tewhmat.liv@gmail.com Abstract The study aims to measure the refractive index of a triangular prism using a spectrometer‚ utilizing different gas discharge tubes as light source. With the use of the discrete spectrum of mercury vapor‚ hydrogen gas and neon gas‚ each of the visible color in their respective spectrum passing through the prism
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