TAILIEUCHUNG - Banks’ exposure to interest rate risk, their earnings from term transformation, and the dynamics of the term structure

Without access to basic financial services, Africans are at risk of remaining at the margins of economic opportunity with little hope of realizing their tremendous creative potential. In the past, most poor Africans relied on home- grown, often unreliable and exploitative traditional services in the form of deposit collectors and moneylenders. Now microfinance is a big part of the picture. Increasingly, more structured, flexible VSLAs are beginning to proliferate, and microfinance institutions that offer more diverse and sophisticated financial services to the poor are reaching more and more people. Financial services, and all that they portend for increased economic security, prosperity. | DEUTSCHE BUNDESBANK EUROSYSTEM Banks exposure to interest rate risk their earnings from term transformation and the dynamics of the term structure Christoph Memmel Discussion Paper Series 2 Banking and Financial Studies No 07 2010 Discussion Papers represent the authors personal opinions and do not necessarily reflect the views of the Deutsche Bundesbank or its staff. Editorial Board Klaus Dullmann Frank Heid Heinz Herrmann Karl-Heinz Todter Deutsche Bundesbank Wilhelm-Epstein-Strabe 14 60431 Frankfurt am Main Postfach 10 06 02 60006 Frankfurt am Main Tel 49 69 9566-0 Telex within Germany 41227 telex from abroad 414431 Please address all orders in writing to Deutsche Bundesbank Press and Public Relations Division at the above address or via fax 49 69 9566-3077 Internet http Reproduction permitted only if source is stated. ISBN 978-3-86558-644-5 Printversion ISBN 978-3-86558-645-2 Internetversion Abstract We use a unique dataset of German banks exposure to interest rate risk to derive the following statements about their exposure to this risk and their earnings from term transformation. The systematic factor for the exposure to interest rate risk moves in sync with the shape of the term structure. At bank level however the time variation of the exposure is largely determined by idiosyncratic effects. Over time changes in earnings from term transformation have a large impact on interest income. Across banks however the earnings from term transformation do not seem to be a decisive factor for the interest margin. Keywords Interest rate risk term transformation interest income JEL classification G11 .

• Ngân hàng - Tín dụng
• Multifunctional
• Forest Management
• Ecoefficient Timber
• Owner Cooperative
• Economic Feasibility
• Agroforestry System
• Bacillus sp
• Enzyme synthesis
• Multifunctional endoxylanase
• Xylanolytic ratio
• Hydrolyzation zone
• Multifunctional enzymes
• Summary of materials science doctoral thesis
• Fabrication of multifunctional nanosystem on cancer cells
• Effectiveness evaluation of multifunctional nanosystem on cancer cells
• Polymer drug Fe3O4 folate
• Targeted folate factor
• Tạp chí khoa học
• Khoa học tự nhiên
• Multifunctional nanoparticles
• Enhanced photoluminescence
• Co precipitation method
• Breeding of winter wheat
• Wheat Triticum aestivum L
• Technological systems
• Environment friendly technologies
• Multifunctional agricultural production
• Isolation and characterization
• Multifunctional yeast
• Yeast as plant probiotics
• Better crop nutrition in pulses
• Crop nutrition in pulses
• Non Rhizobial
• Root non Rhizobial endophytic bacteria
• Endophytic bacteria
• Chickpea plant tissues
• Multifunctional traits
• BMC Plant Biology
• Regulatory networks
• Geminivirus AC2
• Multifunctional protein
• AC2 appears
• Cabbage leaf curl virus
• Advanced materials
• Advanced devices
• Multifunctional scaffold
• Controlled drug release
• Antibacterial activity
• Soft tissue engineering
• Advanced materials and devices
• Orange red emitting praseodymium
• Yttrium molybdate nanophosphors
• Multifunctional applications
• Anti counterfeiting
• AC conductivity
• Multifunctional hydrogel based supercapacitors
• Mechanical properties
• Energy storage
• Supplying power
• Report medicine
• traditional medicine
• scientific reports
• medical research
• hemoglobin
• medical knowledge
• Liquidity and Flight
• integrity of Eclectic
• ridiculous frailties
• scholarly attainments
• Novel Polymorphisms
• Coronary Artery Disease
• Multifunctional Role
• Cardiovascular Disease
• Coronary Angiography
• Physical and Technical Aspects
• Incorporating Carbon
• Objectives for Plantation
• Irreversibility and Uncertainty
• Clinical Pattern
• Diagnostics and Therapy
• Severe Cutaneous