e development of futures markets in financial instruments has provided fi-T. nancial intermediaries, among others, with a vehicle for hedging against unanticipated changes in interest rates.' Protection against these fluctuations can benefit lending institutions which have exposed themselves to inte
β¦ LIBER β¦
Financial Intermediaries and Interest Rate Risk: II
β Scribed by Sotiris K. Staikouras
- Book ID
- 111060984
- Publisher
- John Wiley and Sons
- Year
- 2006
- Tongue
- English
- Weight
- 212 KB
- Volume
- 15
- Category
- Article
- ISSN
- 0963-8008
No coin nor oath required. For personal study only.
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ost empirical work and empirically oriented illustrations dealing with M the hedging effectiveness of futures contracts utilize either one of two approaches, namely: Risk minimization or payoff maximization. In the first approach, hedging is perceived as a combination of a futures position with an e