Word: portfolios
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...swaps to lock in the rates. But instead, interest continued to decline, wreaking havoc on the swaps, which Forbes branded “The Summers Swap.”As of October, the University would have had to pay $571 million to terminate its interest rate swap portfolio. The figure represents a stark decrease from the $330 million Harvard would have had to pay at the end of June 30, a figure given in the annual financial report.Even though Molinaro said Princeton has never used interest rate swaps with regard to its debt portfolio because they decided...
...Levine, chief of staff for then-Harvard President Lawrence H. Summers, Mack detailed her concerns regarding what she deemed HMC’s “frightening” usage of derivatives and statistical modeling techniques, as well as the Company’s lack of a timely and portfolio-wide risk management system, high employee turnover rate, and low level of productivity in the workplace, specifically among managers...
...investigated thoroughly in order to ensure the integrity of HMC processes.” He further points to HMC’s average annual investment return of 13.8 percent over the 10 years up through 2008 as evidence of the Company’s “strong portfolio management, personnel and risk management systems...
...would also raise capital and risk-management standards, ensuring that firms safeguard a larger proportion of their assets to protect against unexpected losses and more tightly manage their links to other financial bodies. By forcing big hedge funds to register with the Securities and Exchange Commission, thereby releasing their portfolio information, the government could determine which funds pose a threat to the economy and better regulate those funds. Geithner’s plan proposes this change as well as a more comprehensive oversight of derivatives (such as the regulation of credit-default swaps) that would be traded through a clearinghouse...
Like people everywhere, I've been hit by fear. Fear that I'll lose my job. Fear that I won't be able to make my rent. Fear that my mother, who retires in June, will outlive her battered portfolio and need me to step in to help...