Archives 2021

Credit Metrics The Foolproof Key To Handle All Credit Transactions

By Sam Miller

Credit Metrics is a method of reigning in credit risk by modeling changes in credit ratings portfolio. This implies a propositional change in value of the holdings. Credit metrics tries to construct that is not readily observable, which is the volatility of value due to changing credit quality. This approach renders credit metrics more of an exercise in proposing models and which explain the changes in credit related instruments. More than often the models that best describe credit risk don’t rely on the assumption that returns distribution is imperative.

Credit metrics is basically a framework that helps to quantify credit risk on portfolio of everyday credit products. This includes loans, commitments to lend, and market -driven instruments which are vulnerable to counterparty defaults. The sound of knowledge of Credit metrics enables you get a transparent depiction of credit risk. Transparency and effective management share a direct proposition and usually goes hand in glove. The common crisis that has been plaguing the credit risk measurement is the absence of a common point reference. The multiple approaches to measure of credit risk render them practically incomparable.

Credit measure and Credit metrics are often misinterpreted to be the same. When we refer to a measure we are actually assigning a number to something. A metric on the other hand is how interpret that assigned number. A simple example would be that of calculating a person’s height. Let’s ay it measures to 5.1 inches, the inches is the measure of the person’s height and the, “height” is the metric.

[youtube]http://www.youtube.com/watch?v=ezvmM-mWOCE[/youtube]

Although credit metrics and risk metrics are similar in many ways they are not the same. The primary difference between the two is that risk metrics presents an loads of daily liquid pricing data which can be easily used to construct a model of conditional volatility. On the other hand credit metrics offers relatively less and sporadically priced data for constructing a model of unconditional volatility

The recovery of a claim remains unknown until an obligor defaults. Credit metrics on the other hand models recovery by using a beta distribution. A beta distribution is characterized by a mean and standard deviation. The recovery of the distribution is affected by changes in parameters as demonstrated by the beta distribution spreadsheet.

In credit metrics the changes in value is not only influenced by chancy default events but also by the upswings and downswings in credit quality. Credit risk also addresses the value-at-risk (VaR) which is basically the volatility of value and not just the expected losses. It makes sense to address the co-relation of credit quality fluctuation across obligors as it allows you directly calculate the potential over -concentration across the portfolio.

Modeling transitions for a single name is pretty simple. If one has an idea of the probability to each state, then he/she can approximately simulate a transition corresponding to each state by observing a random uniform variable. The transition can be made by basing on the outcome of the random uniform variable. The glitch is when there are multiple correlated names in the portfolio.

About the Author: If you are interested in

credit metrics

, check this web-site to learn more about loan metrics.

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isnare.com

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NHL: Penguins to remain in Pittsburgh

Tuesday, March 13, 2007

Pennsylvania governor Ed Rendell announced Tuesday morning that a deal had been struck between state and local officials and the Pittsburgh Penguins hockey franchise. The Penguins organization will formally announce the deal tonight, prior to the Penguins game against the Buffalo Sabres at the Mellon Arena. The deal will ensure that the Penguins will remain in the city with a 30 year lease on a new arena to be built in downtown Pittsburgh. The framework of the deal was constructed in an emergency meeting last Thursday in Philadelphia, when both government and franchise officials indicated that progress had been made, with the details laid out over the weekend. With the new deal, the Penguins organization would be expected to pay $3.8 million per year, as well as $7.5 million per year from both Don Barden, owner of Majestic Star Casino, and the state economic development fund. The Penguins organization has also been given the option of building a parking garage on property of the Pittsburgh Sports Authority between Centre and Fifth avenues, by contributing $500,000 per year.

The new arena is expected to cost approximately $290 million, and should be completed and ready to host hockey games by 2009. The Penguins will sign a temporary lease to keep the team at Mellon Arena until the new building is finished.

Retrieved from “https://en.wikinews.org/w/index.php?title=NHL:_Penguins_to_remain_in_Pittsburgh&oldid=4576314”

Police report drug haul seizure worth up to £30 million in Brownhills, England

Monday, December 2, 2013

Police in the West Midlands in England today said nearly 200 kilograms worth of drugs with value possibly as great as £30 million (about US$49 million or €36 million) has been seized from a unit in the town of Brownhills. In what an officer described as “one of the largest [seizures] in the force’s 39 year history”, West Midlands Police reported recovering six big cellophane-wrapped cardboard boxes containing cannabis, cocaine, and MDMA (“ecstasy”) in a police raid operation on the Maybrook Industrial Estate in the town on Wednesday.

The impact this seizure will have on drug dealing in the region and the UK as a whole cannot be underestimated

The seized boxes, which had been loaded onto five freight pallets, contained 120 one-kilogram bags of cannabis, 50 one-kilogram bags of MDMA, and five one-kilogram bricks of cocaine. In a press release, West Midlands Police described what happened after officers found the drugs as they were being unloaded in the operation. “When officers opened the boxes they discovered a deep layer of protective foam chips beneath which the drugs were carefully layered”, the force said. “All the drugs were wrapped in thick plastic bags taped closed with the cannabis vacuum packed to prevent its distinctive pungent aroma from drawing unwanted attention.” Police moved the drugs via forklift truck to a flatbed lorry to remove them.

Detective Sergeant Carl Russell of West Midlands Police’s Force CID said the seizure was the largest he had ever made in the 24 years he has been in West Midlands Police and one of the biggest seizures the force has made since its formation in 1974. “The impact this seizure will have on drug dealing in the region and the UK as a whole cannot be underestimated”, he said. “The drugs had almost certainly been packed to order ready for shipping within Britain but possibly even further afield. Our operation will have a national effect and we are working closely with a range of law enforcement agencies to identify those involved in this crime at whatever level.”

Expert testing on the drugs is ongoing. Estimates described as “conservative” suggest the value of the drugs amounts to £10 million (about US$16.4 million or €12 million), although they could be worth as much as £30 million, subject to purity tests, police said.

Police arrested three men at the unit on suspicion of supplying a controlled drug. The men, a 50-year-old from Brownhills, a 51-year-old from the Norton area of Stoke-on-Trent in Staffordshire, and one aged 53 from Brownhills, have been released on bail as police investigations to “hunt those responsible” continue. West Midlands Police told Wikinews no person has yet been charged in connection with the seizure. Supplying a controlled drug is an imprisonable offence in England, although length of jail sentences vary according to the class and quantity of drugs and the significance of offenders’ roles in committing the crime.

Retrieved from “https://en.wikinews.org/w/index.php?title=Police_report_drug_haul_seizure_worth_up_to_£30_million_in_Brownhills,_England&oldid=2611781”

Reusable Menstrual Cups Can Save You Money

byAlma Abell

If you calculated the amount of money you spent annually on tampons and pads, you’d probably be shocked at the thousands you invest over just a few years. With the cost of products going up each year, you either need to rely on coupons to save money or find an alternative option to disposable pads and tampons. Reusable menstrual cups are a great option for women looking to save money but want something that provides the same level or better of protection and comfort.

Investing in Reusable Menstrual Cups

The Benefits of a Reusable Cup

Some disposable products cause women to have rashes or infections, which requires the purchase of creams or ointments to help the healing process. With reusable menstrual cups, you don’t have chafing, the risk of toxic shock syndrome, or dangerous chemicals rubbing against your skin for one week out of every month. You also save money because you don’t need to buy creams or ointments to fight rashes or infections.

The cups work just as well, if not better, than disposable products. You can swim, play sports, wear a bikini, ride a horse, or just lie around the house and not worry about the cup slipping or leaking. It doesn’t show through clothing, so you can comfortably wear your cutest jeans or a dress without worrying about any sort of bulk or outline showing. The silicone material makes it suitable for every woman, even those with latex allergies. Visit sckooncup.com to experience how a reusable cup can change your life. You’ll not only enjoy the product but appreciate the savings, too.

Nurse glues boyfriend’s eyes shut

Wednesday, July 13, 2005

A nurse from Sunderland in the United Kingdom superglued her (now former) boyfriend’s eyes shut when he would not stop paying attention to swimsuit clad women while the two were on holiday in Malta.

After an argument, the boyfriend, Disc Jockey Lee Scullion (31), went for an afternoon nap in their hotel room. When he woke up, he discovered that he could not open his eyes and that his watch was glued to his wrist. Glue was also smothered over his lips and nose as well as on his eyelids. In addition, his girlfriend Laura Dunn (26) is reported to have smashed Lee’s £650 ($1,128.47 US) digital camera, while he is said to have burned her passport.

Laura Dunn, who is currently working in a care home, said “he wouldn’t give me the attention I deserved” and that she “decided to teach him a lesson to remind him not to look at other women.” She also said she hoped her career would not be affected by the fight.

Retrieved from “https://en.wikinews.org/w/index.php?title=Nurse_glues_boyfriend%27s_eyes_shut&oldid=866484”

NBC employee wins $266M from California lottery

Thursday, May 6, 2010

An NBC employee won US$266 million from the California Lottery’s Mega Millions drawing.

The winner, wishing to remain anonymous, will receive $165 million in total, after federal taxes, reports spokesperson for the lottery Cathy Doyle Johnston.

David Reese, a KNBC assistant manager, was informed by the winner around 2:30 local time Wednesday. Reese told the employees working the night shift to keep the name a secret until the winner wishes to step forward.

Reese said the winner worked for NBC as a freelancer for four years, and her husband was laid off two weeks ago.

L & L Hawaiian BBQ in Pico Rivera, California, sold the winning ticket with the numbers 9, 21, 31, 36, 43, and the “Mega Number” 8. Danny He, the owner of the BBQ, will receive $1 million from the lottery for selling the winning ticket.

According to lottery officials, there was a 1 in 175,711,536 chance in winning with all six numbers with 38 other states and the District of Colombia playing as well.

Retrieved from “https://en.wikinews.org/w/index.php?title=NBC_employee_wins_$266M_from_California_lottery&oldid=4629317”

3 Easy Steps To Get Into Weight Loss Mode And Burn More Fat

By Tony Leong

Do you know there are three easy steps that you can implement today that can get you into weight loss mode? If you are looking for some technique to get your fat burning furnace roaring, you are in luck because I am going to share with you 3 steps that you can take so your body can burn more body fat.

There are tips and tricks that we can implement so that we can get more from our workout. This means burn more fat and save more time. All of us are looking for methods to lose weight quickly and get the most of our time. So, by implementing these 3 tips, you can definitely burn more body fat and see the results quite quickly. Without wasting more time, lets dive into it.

Step 1

Do your cardio after your intense weight training. This is by far one of the best method I have seen working for my clients. For those who do not know me, I have been doing personal training for more than 7000 hours since the 2004 and I find that my clients that follow my instructions and do their cardio after their weight training lose the most fat!

[youtube]http://www.youtube.com/watch?v=AJWBzkIDSGg[/youtube]

The reason behind this is because we are glucose depleted after an intense weight training session. Hence when you hit the cardio, your body will start using body fat straight away. If you do cardio before you weight training, you will waste time spending 10 to 15 minutes burning the sugar in your body and then only the body fat. Then when you do weight training, you will not have the power and strength to complete an intense weight training session.

During weight training, you only use sugar. So, it is more effective to do weight training first, burn of the sugar and then hit the cardio machine for maximum fat loss. If you are not use to do your cardio after weight training, you will feel that your body is heavy and find it really tough. Do it slowly. Do your cardio workout at the intensity of 70 % of your max heart rate the after 5 to 7 minutes; you feel that you can go on forever!

Step 2

Now this is a bit of a controversial issue. Some pros do not like this method and some do. I personally experienced great results from it. It is called low card dieting. Yeah, you have heard of it like a thousand times. I am not a dietitian, but for my modeling days, I use to go low carb for 5 days and then eat normal on Saturday and Sunday.

This is not Atkins diet. I do not eat lots of fats. I eat lots of vegetables; eat lots of fish, egg whites and chicken. I also drink lots of soup because I found out that soup could really satisfy my appetite. The bulk of the meals come from vegetables because it is healthy and keeps your stomach full. You will feel a bit tired during your weight training but that is normal. You are not there to do the World’s Strongest Man event.

The key to maintain on this diet is that you have to eat 5 to 6 meals a day. Always plan ahead. I cannot emphasize enough. You need to plan what time you eat and what you will eat. This will help you cope up with all the hunger pangs. If you fail to plan you plan to fail.

Step 3

This tips is actually very easy. It won’t need you to put in more time into you workout or change your lifestyle. If you have been doing cardio religiously 3 to 5 times a week, why not supercharge your fat loss by using a heart rate monitor. By using a heart rate monitor, you can laser target you fat burning zone. With the heart rate monitor you would also know whether you are really tired or pure lazy. I workout too, I know. Sometimes I feel like I just don’t have the stamina but when I checked my heart rate, it is just fine and sometimes below the required zone. So, I know I am just cheating myself if I stop. I discuss in more detail about getting the right heart rate in my Fast Fat Loss E-Mag. I high recommend you to subscribe to it to learn more and it is free.

There you have it. Three tips for you to get into weight loss mode that you can implement today. The biggest killer I think is procrastinating. Get started today and look great faster. Keep on learning and join info sites like Fast Fat Loss E-Mag to avoid making weight loss mistakes.

About the Author: Tony Leong is an experienced ACE personal trainer that had helped many people achieve their fitness goals. For a limited time only, you can download his weight loss system called

Tony Leong’s Weight Loss System

for absolutely free.

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isnare.com

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Wikinews Shorts: May 7, 2007

A compilation of brief news reports for Monday, May 7, 2007.

A 30 meter section of a gas pipeline in Luka (near Kiev) in Ukraine has been destroyed by an explosion. Although supplies to Europe via this pipeline have stopped, Ukrainian Energy Minister Georgi E. Boyko said that supplies to Europe would not be affected.

“There are no changes in volumes of gas being transported,” Yuri Korolchuk said. “Volumes due to pass through the damaged section are being redirected through the Soyuz pipeline.”

Normal flows are reported in the Czech Republic, Hungary, Poland and Romania.

Sources

  • “Blast damages pipeline in Ukraine” — Russia Today, May 8, 2007
  • Natalya Zinets, Reuters. “Blast hits Ukraine gas pipeline” — The Scotsman, May 7, 2007

Copper prices are rising. Between record copper imports from China, and a mining strike in Peru, the prices have climbed to over $8100 (United States dollars) a tonne, for a gain of $575 dollars over the last week. However the upward trend is not new, it has been climbing for quite some time. In April 2003, the price of copper was under $2000 a tonne.

The metal market has been tending up due to growth in the Chinese industrial production. This trickles down to the local level, where the buying price at scrap yards is ever climbing, making scrap metal collection a more profitable endeavour for individual people using pick up trucks or other such vehicles to collect and cash in the scrap metal at metal buying yards. It can be collected via agreements with businesses, from the garbage, or, sometimes, by theft.

Copper prices fell today on the NYMEX commodity exchange from US$3.7545 per pound to US$3.7125 based on the July futures contract.

Sources

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
  • “Copper up but crude oil down” — Financial Express, May 6, 2007
  • Millie Munshi. “Metals Bubble Poised to Burst on Increasing Supplies” — Bloomberg L.P., May 7, 2007
  • “Commodity Futures” — Bloomberg L.P., accessed May 7, 2007

One man was killed and another injured by an exploding backpack in the parking lot of the Luxor Hotel in Las Vegas, Nevada. The explosion happened at 4 a.m. PDT when the victim tried to remove a the object left on top of his car.

Agents from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) are on the scene. Aerial images did not show any apparent damage.

“We believe the victim was the intended target of this,” Bill Cassell said, spokesperson for the Las Vegas Metropolitan Police Department. “This is being treated as a homicide in which the weapon used to cause death is a non-traditional weapon.”

Both of the victims worked at the Luxor.

Sources

  • Associated Press. “1 dead, 1 hurt in Las Vegas parking lot blast” — MSNBC, May 7, 2007
  • “Explosion kills man in Vegas outside Luxor hotel” — Reuters, May 7, 2007

Retrieved from “https://en.wikinews.org/w/index.php?title=Wikinews_Shorts:_May_7,_2007&oldid=4459590”

California Supreme Court defers ruling on same-sex marriage ban

Thursday, March 5, 2009

After hours of hearing arguments in the case questioning the legality of the ban on same-sex marriages in California, in the United States, the state’s Supreme Court deferred ruling on the ban, known as Proposition 8. The court could issue a ruling in the next 90 days.

Opponents of the ban were fighting to have the law overturned— saying it was unconstitutional for the state to have banned same-sex marriages. Californians voted in November 2008 to ban same-sex marriages, leaving the nearly 20,000 married same-sex couples wondering if their marriages, which were legal at the time they were married, would be voided.

“Prop 8 opponents would have the court choose between the inalienable right to marry and the right of the people to change the constitution as they see fit, and what I’m picking up from the oral argument in this case is this court should willy-nilly disregard the will of the people,” Justice Joyce Kennard said while addressing Shannon Minter, the lawyer representing the opponents of the ban.

One of the petitioners in the case against Proposition 8, Robin Tyler, told Reuters that she thinks “they [the court] are going to uphold our marriages and they are going to uphold Proposition 8, and it’s a loss.”

In June 2008, the state supreme court ruled that the ban was unconstitutional. Between that time, and November 2008, 18,000 same-sex couples were legally married in California. Currently in the United States, same-sex marriages are only legal in Connecticut and Massachusetts.

Retrieved from “https://en.wikinews.org/w/index.php?title=California_Supreme_Court_defers_ruling_on_same-sex_marriage_ban&oldid=4488355”

“Dr Dino” gets 10 years in prison after failure to pay taxes

Friday, January 19, 2007

In November 2006 Pensacola, Florida evangelist Kent Hovind and his wife, Jo, were found guilty on 58 federal counts of “willful failure” to payroll taxes, structuring bank withdrawals, and obstructing federal agents. On January 19, 2007 Hovind was given ten years in federal prison, ordered to pay $640,000 in owed funds to the Internal Revenue Service, pay prosecution’s court costs of $7,078, and serve three years parole once released. Originally in November, Hovind was ordered to forfeit $430,400 and faced a maximum of 288 years in prison.

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