finance leverage - … Le principe est d'acheter beaucoup plus de valeurs que ne le permettent ses propres capitaux, en ayant recours à l'emprunt. An investor who buys a stock on 50% margin will lose 40% if the stock declines 20%. [18], National regulators began imposing formal capital requirements in the 1980s, and by 1988 most large multinational banks were held to the Basel I standard. hat die seit Ausbruch der Finanzmarktkrise stark eingeschränkte Liquidität dieser Marktsegmente keinen nennenswerten Einfluss auf die wesentlichen Geschäftsaktivitäten. Rückgang der Transaktionsaktivität aufgrund mangelnder Visibilität und Liquidität in den Märkten geprägt. In co-operation with the DSGV (national real estate financing and corporate clients) and other state banks. Consumers in the United States and many other developed countries had high levels of debt relative to their wages, and relative to the value of collateral assets. Although these two are often confused, they are in fact opposite. [19], While Basel I is generally credited with improving bank risk management it suffered from two main defects. In fact, many highly levered hedge funds have less return volatility than unlevered bond funds,[7] and normally heavily indebted low-risk public utilities are usually less risky stocks than unlevered high-risk technology companies. Leverage can arise in a number of situations, such as: While leverage magnifies profits when the returns from the asset more than offset the costs of borrowing, leverage may also magnify losses. 14 offres d’emploi Leveraged Finance du jour (France). These sources include long-term debt (i.e., debentures, bonds etc.) Ong, Michael K., The Basel Handbook: A Guide for Financial Practitioners, Risk Books (December 2003), Saita, Francesco, Value at Risk and Bank Capital Management: Risk Adjusted Performances, Capital Management and Capital Allocation Decision Making, Academic Press (February 3, 2007). Der beste Volltext-Übersetzer der Welt – jetzt ausprobieren! market environment for high yield bonds and thus again proved their ability to be able to exploit opportunistic market chances successfully. related trading and sales activities as well as liquidity management and refinancing tasks in the DekaBank Group. [6] Or if an investor uses a fraction of his or her portfolio to margin stock index futures (high risk) and puts the rest in a low-risk money-market fund, he or she might have the same volatility and expected return as an investor in an unlevered low-risk equity-index fund. Even if cash flows and profits are sufficient to maintain the ongoing borrowing costs, loans may be called-in. Le terme leverage est définit dans le lexique financier à travers la définition du terme financier effet de levier. EUR zusammengefasst. 141–155. im Laufe der nächsten Quartale gerechnet. leveraged, lever, leer, level. leveraged, lever, leer, level. " The term is used differently in investments and corporate finance, and has multiple definitions in each field. Kapitalmärkte und Finanzdienstleistungen. D'une part, l'utilisation d'instruments financiers, de capitaux empruntés, et d'augmentation de la marge, pour améliorer le retour sur investissement. derivatives, foreign exchange) as well as retail banking in Switzerland. 327–334. Sollte nicht mit orangener Vokabel zusammengefasst werden. Leverage Finance. Likewise, one leverages when one uses a margin in order to purchase securities. Die Helaba verfügt über gemeinsam mit dem DSGV (nationale Immobilienfinanzierungen und Firmenkunden) beziehungsweise anderen Landesbanken (internationale. to record an excellent result despite the extremely difficult. Public Infrastructure), die kapitalmarktbezogenen. Bénéficiez de votre réseau professionnel et changez de travail ! leverage finance " : exemples et traductions en contexte. Une entreprise fortement endettée par rapport à ses fonds propres est dite leveraged. als Übersetzung von "leveraged finance" vorschlagen. ;[6] also in this case the involved subject might be unable to refund the incurred significant total loss. In connection with this a number of credit institutions in different jurisdictions across the euro area were surveyed in 2015 to capture their involvement in leveraged finance activities. Autres traductions. Risk may depend on the volatility in value of collateral assets. However, in view of the problems with Basel I, it seems likely that some hybrid of accounting and notional leverage will be used, and the leverage limits will be imposed in addition to, not instead of, Basel II economic leverage limits.[20]. There is an implicit assumption in that account, however, which is that the underlying leveraged asset is the same as the unleveraged one. [9] Notional leverage is total notional amount of assets plus total notional amount of liabilities divided by equity. dict.cc English-German Dictionary: Translation for leverage. In addition to the Controlling department, the risk monitoring activities of the Managing Board are supported by Auditing and Legal department (incl. products, raising of private capital and project finance. Scandinavia, energy in the USA, and capital market business with no direct link to clients. Leverage (finance) synonyms, Leverage (finance) pronunciation, Leverage (finance) translation, English dictionary definition of Leverage (finance). This may happen exactly at a time when there is little market liquidity, i.e. The bank was asked to improve its capitalization and reduce its leverage. )ɹɪdʒ\ ou \ˈlɛv.(ə. strukturierte Produkte sowie Beschaffung von privatem Kapital und Projektfinanzierung. The Corporates & Markets segment pools the lending business, public infrastructure), the capital-market. As Leveraged Finance divisions typically deal with less-established firms, this offers a variety of opportunities to connect and collaborate with private equity firms, which can be attractive to people who have interests and ambition in private equity. In finance, leverage (or gearing in the United Kingdom and Australia) is any technique involving using debt (borrowed funds) rather than fresh equity in the purchase of an asset, with the expectation that the after-tax profit to equity holders from the transaction will exceed the borrowing cost, frequently by several multiples — hence the provenance of the word from the effect of a lever in physics, a simple machine which amplifies the application of a comparatively small input force into a correspondingly greater output force. Falsche Übersetzung oder schlechte Qualität der Übersetzung. Because Helaba only operates to a very limited extent in the field of securitisation business, and even then primarily for its own target. Bonds ein ausgezeichnetes Ergebnis erwirtschaften und stellten damit einmal mehr ihre Fähigkeit unter Beweis, opportunistische Marktchancen erfolgreich nützen zu können. En savoir plus. Weston, J. Fred and Eugene F. Brigham, Managerial Finance (2010). Leverage can also refer to the amount of debt a firm uses to finance assets. Dugan, Michael T., Donald Minyard, and Keith A. Shriver, "A Re-examination of the Operating Leverage-Financial Leverage Tradeoff," Quarterly Review of Economics & Finance (Fall 1994), pp. Money Mantra Guru is back with yet another informative video that will solve all your queries about things that should be keep in mind. Elle a ouvert une succursale à Londres en 2005, initialement destinée à lever des fonds et à … 132–133>. Basel I categorized assets into five risk buckets, and mandated minimum capital requirements for each. Leverage finance sont des termes anglais qui correspondent à l'utilisation par des entreprises ou par des investisseurs du crédit bancaire afin d'assurer le financement de leurs investissements. Tarullo, Daniel K., Banking on Basel: The Future of International Financial Regulation. Levering has come to be known as "leveraging", in financial communities; this may have originally been a slang adaptation, since leverage was a noun. Tirer avantage, exploiter. der ausserordentlich widrigen Handels¬bedingungen im September. )ɹɪdʒ\ transitif. À l’échelle mondiale, Deutsche Bank, Goldman Sachs, J.P. Morgan, Credit Suisse et Unicredit constituent les principaux acteurs du Leveraged Finance relatifs aux deals large-cap (EBITDA en moyenne supérieur à $50M). Report of Anton R. Valukas, Examiner, to the United States Bankruptcy Court, Southern District of New York, Chapter 11 Case No. the Compliance unit) as well as by the management teams of the market, departments and, as far as country risks are, In seiner Risikoüberwachungstätigkeit wird der Vorstand neben dem Bereich Controlling durch die Revision, die Rechtsabteilung mit dem Bereich Compliance sowie durch das Management der, Marktbereiche und für Länderrisiken speziell, Interest income benefited from a generally high willingness to invest and success in acquiring new customers, even if extremely tough competition on conditions in view of the rise in liquidity costs hit our margins As a result of the distortions on the capital markets, there was a trend in the second half of the year towards simple financing products Net commission income grew mainly due to successful structured financing transactions In Germany and Scandinavia, we benefited from a, transactions focusing on renewable energies, which were integrated into a new division of HSH Nordbank at the beginning of 2008 An increase in successful cross-selling of capital markets products is reflected in net trading income, Die Zinseinnahmen profitierten von einer generell hohen Investitionsbereitschaft sowie einer erfolgreichen Neukundengewinnung, wenngleich ein ausgeprägter Konditionswettbewerb vor dem Hintergrund gestiegener Liquiditätskosten die Margenentwicklung belastete Als Folge der Verwerfungen an den Kapitalmärkten war im Verlauf des zweiten Halbjahres ein Trend zu einfachen Finanzierungsprodukten festzustellen Gleichwohl wuchs der Provisionsüberschuss Das ist vor allem auf erfolgreiche Aktivitäten im Bereich der Strukturierten Finanzierungen zurückzuführen In Deutschland und Skandinavien profitierten wir dabei von einer hohen Zahl von, Firmenzusammenschlüssen und unserer starken, dem Fokus auf Erneuerbare Energien, welche zu Jahresbeginn 2008 in einen neuen Unternehmensbereich der HSH Nordbank eingegliedert wurden Im Handelsergebnis zeigten sich gestiegene Cross-Selling-Erfolge mit Kapitalmarktprodukten, As a result of the dislocations in the financial markets, Deutsche Bank AG was one of the many institutions that had to make significant mark-downs on assets held for trading purposes, especially. Bodie, Zvi, Alex Kane and Alan J. Marcus, Investments, McGraw-Hill/Irwin (June 18, 2008). Des banques comme BNP ou HSBC se chargent davantage de deals orientés mid-cap. Weston, J. Fred and Eugene F. Brigham, Managerial Finance (1969). Handels- und Sales-Aktivitäten sowie die Liquiditätssteuerung und Refinanzierungsaufgaben im DekaBank-Konzern. Leverage is employed to increase the return on equity. [15], There are several variants of each of these definitions,[16] and the financial statements are usually adjusted before the values are computed. The amount of debt that has been used to finance activities. De très nombreux exemples de phrases traduites contenant "leverage finance" – Dictionnaire français-anglais et moteur de recherche de traductions françaises. der Marktaktivitäten zu beobachten; im Rahmen einer konservativen Risikostrategie. Brigham, Eugene F., Fundamentals of Financial Management (1995), Damodaran (2011), Applied Corporate Finance, 3rd ed., pp. The act or technique of providing with gears. Nutzen Sie die weltweit besten KI-basierten Übersetzer für Ihre Texte, entwickelt von den Machern von Linguee. Da die Helaba nur in geringem Umfang und überwiegend für eigene. On the other hand, almost half of Lehman's balance sheet consisted of closely offsetting positions and very-low-risk assets, such as regulatory deposits. Leverage ou Maîtres Arnaqueurs au Québec est une série télévisée américaine en 77 épisodes de 42 minutes créée par John Rogers et Chris Downey, produite par Dean Devlin (qui a travaillé sur des films comme Independance Day ou The Patriot) et diffusée entre le 2 décembre 2008 et le 25 décembre 2012 [1] sur TNT. Dans le cadre du trading en ligne, un courtier mettra de côté une partie des capitaux propres du trader et placera un investissement supérieur de plusieurs degrés. Dans le domaine financier, le leverage … A branch was opened in London in 2005, initially focused on leverage finance and asset based loans. Leverage Finance. This limits accounting leverage. Real Estate and Country and Transfer Risk modules. B. An increase in, Buy $100 of crude oil with money out of pocket. Kein gutes Beispiel für die Übersetzung oben. Li, Rong-Jen and Glenn V. Henderson, Jr., "Combined Leverage and Stock Risk," Quarterly Journal of Business & Finance (Winter 1991), pp. Key Takeaways Leverage refers to the use of debt (borrowed funds) to amplify returns from an investment or project. It did not require capital for all off-balance sheet risks (there was a clumsy provisions for derivatives, but not for certain other off-balance sheet exposures) and it encouraged banks to pick the riskiest assets in each bucket (for example, the capital requirement was the same for all corporate loans, whether to solid companies or ones near bankruptcy, and the requirement for government loans was zero). Dezember 2009 beinhalteten die wertgeminderten Kredite und der einzeln ermittelte Wertberichtigungsbestand der Kategorie, 2.3 billion. Huffman, Stephen P., "The Impact of Degrees of Operating and Financial Leverage on the Systematic Risk of Common Stock: Another Look," Quarterly Journal of Business & Economics (Winter 1989), pp. The risk can be mitigated by negotiating the terms of leverage, by maintaining unused capacity for additional borrowing, and by leveraging only liquid assets[7] which may rapidly be converted to cash. Banks' notional leverage was more than twice as high, due to. Proper analysis of operating leverage of a firm is useful to the finance manager. In finance, leverage (or gearing in the United Kingdom and Australia) is any technique involving using debt (borrowed funds) rather than fresh equity in the purchase of an asset, with the expectation that the after-tax profit to equity holders from the transaction will exceed the borrowing cost, frequently by several multiples — hence the provenance of the word from the effect of a leverin physics, a simple machine which amplifies the application of a comparatively small input force into a correspondingly greater outp… Derivate, Devisen) sowie in der Schweiz das Privat- und Firmenkundengeschäft. a paucity of buyers, and sales by others are depressing prices. It required advanced banks to estimate the risk of their positions and allocate capital accordingly. companies, starting at approximately EUR 15 million. ordered according to region, sector and rating. Elle a ouvert une succursale à Londres en 2005, initialement destinée à lever des fonds et à accorder des prêts fondés sur des actifs. Brokers may demand additional funds when the value of securities held declines. A company with much more debt than equity is generally called "highly leveraged." A branch was opened in London in 2005, initially focused on leverage financeand asset based loans. financement par effet de levier. wurden ab dem zweiten Quartal auf selektiver Basis neue Transaktionen und Erhöhungen im Bestandsgeschäft begleitet. 2. L'expression leverage finance (finance par effet de levier) désigne n'importe quelle technique financière qui peut multiplier les bénéfices ou les pertes. Too much leverage is thought to be unhealthy, but many firms use leverage in order to expand operations. In an attempt to estimate operating leverage, one can use the percentage change in operating income for a one-percent change in revenue. A reserve requirement is a fraction of certain liabilities (from the right hand side of the balance sheet) that must be held as a certain kind of asset (from the left hand side of the balance sheet). financial leverage définition, signification, ce qu'est financial leverage: the relationship between the amount of money that a company or organization owes and the value of…. 15 Mio. HSH Nordbank plays a leading role in the management of the, also jointly responsible for the International. "leverage finance": examples and translations in context. If a company borrows money to modernize, add to its product line or expand internationally, the extra trading profit from the additional diversification might more than offset the additional risk from leverage. If a bank is required to hold 8% capital against an asset, that is the same as an accounting leverage limit of 1/.08 or 12.5 to 1. 83–100. Assets are $200, liabilities are $100 so accounting leverage is 2 to 1. 2009 in Österreich, CEE und Deutschland von einem weiter anhaltenden. De très nombreux exemples de phrases traduites contenant "finance leverage" – Dictionnaire français-anglais et moteur de recherche de traductions françaises. The financial leverage formula is measured as the ratio of total debt to total assets. Zu den Kerngeschäften der Grossbanken zählen weltweit die Vermögensverwaltung und die Anlageberatung für private und institutionelle Anleger, das. So while adding leverage to a given asset always adds risk, it is not the case that a levered company or investment is always riskier than an unlevered one. L’effet de levier est l’utilisation de capitaux empruntés pour augmenter le potentiel d’investissement. However, an excessive amount of financial leverage increases the risk of failure, since it becomes more difficult to repay debt. To understand the differences, consider the following positions, all funded with $100 of cash equity:[6]. Borrow $100 and buy $200 of crude oil. It means that as market price falls, leverage goes up in relation to the revised equity value, multiplying losses as prices continue to go down. 18–39. Firmenkunden verwendete Standardrating basieren auf sogenannten Scorecard-Verfahren. ab einer Größenordnung von ca. A system of gears and associated elements by which motion is transferred within a machine. die Module Internationale Immobilien sowie Länder- und Transferrisiko. [17], Before the 1980s, quantitative limits on bank leverage were rare. Financial Leverage: Financial leverage is primarily concerned with the financial activities which involve raising of funds from the sources for which a firm has to bear fixed charges such as interest expenses, loan fees etc. Le mot anglais leverage fait référence au terme financier effet de levier. Verwenden Sie den DeepL Übersetzer, um Texte und Dokumente sofort zu übersetzen, For December 31, 2009 impaired loans and individually assessed allowances in category "Other", Zum 31. What is Leverage? [24] It was first adopted for use as a verb in American English in 1957.[25]. Assets are $100 ($100 of oil), there are no liabilities, and. Uncertainty over the business trend and its effects on the development of companies impacted our investment activity, as did the, Die anhaltende Unsicherheit über den Konjunkturverlauf und dessen Auswirkungen auf die Entwicklung der Unternehmen beeinträchtigten unsere, Investitionstätigkeit ebenso wie die Verwerfungen, Investment Banking expects to announce a pre-tax loss of approximately CHF 3.2 billion, reflecting. Il est appelé gearing (embrayage) en Australie et au Royaume-Uni. [1] Economic leverage is volatility of equity divided by volatility of an unlevered investment in the same assets. English-German online dictionary developed to help you share your knowledge with others. Capital raising, through equity and equity-linked offeri, bank debt and bridge financing, structured. Accounting leverage has the same definition as in investments. However, modern dictionaries (such as Random House Dictionary and Merriam-Webster's Dictionary of Law[23]) refer to its use as a verb, as well. The core business of the big banks comprises worldwide asset management and investment advisory services for private and institutional investors. Die in der HSH Nordbank verwendeten Ratingmodule Banken, Corporates, Internationale. Viele übersetzte Beispielsätze mit "leveraged finance" – Deutsch-Englisch Wörterbuch und Suchmaschine für Millionen von Deutsch-Übersetzungen. zur aufsichtsrechtlichen Prüfung angemeldet. Many translated example sentences containing "leverage" – German-English dictionary and search engine for German translations. The notional amount is $200 and equity is $100, so notional leverage is 2 to 1. Before the 1980s, regulators typically imposed judgmental capital requirements, a bank was supposed to be "adequately capitalized," but these were not objective rules. There are two main types of leverage: financial and operating. Le leverage concerne principalement deux choses. Die Verwerfungen an den Finanzmärkten führten auch bei der Deutschen Bank AG zu signifikanten Wertanpassungen bei Vermögenswerten der Handelsbereiche, These include its commodity finance activities with foreign clients, its corporate clients business in Asia and Scandinavia, its refinancing of leasing companies, its capital market activities not directly relating to clients, and the portfolios that entail too much risk, potential for the smaller core bank (e.g. Les revenus ou plus-values générés par les biens … 2. [9] Moreover, there are industry-specific conventions that differ somewhat from the treatment above. Der zu erwartende Vorsteuerverlust im Investment Banking von rund CHF 3,2 Mia. [13] credit, Das sind etwa die Commodity-Finance-Aktivitäten mit ausländischen Kunden, das Firmenkundengeschäft in Asien und Skandinavien, die Refinanzierung von Leasinggesellschaften, das Kapitalmarktgeschäft ohne direkten Kundenbezug sowie die Portfolien mit einem zu hohen. and transfer risks as well as public authorities outside Germany), Helaba has developed and introduced new rating systems. 75 % of the Group's impaired loans were with counterparties domiciled in Western Europe, predominantly with clients domiciled in Germany, while industry concentrations were with households (23 %) and other (35 %), the latter being, Mehr als 75 % der wertgeminderten Kredite entfielen auf Geschäftspartner mit Sitz in Westeuropa, vor allem in Deutschland, während Branchenkonzentrationen mit 23 % gegenüber privaten Haushalten und 35 % gegenüber Sonstigen bestanden, wobei. Financial leverage is the use of debt to buy more assets.
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