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By Benz W.

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Ce cours de topologie a été dispensé en licence à l'Université de Rennes 1 de 1999 à 2002. Toutes les constructions permettant de parler de limite et de continuité sont d'abord dégagées, puis l'utilité de los angeles compacité pour ramener des problèmes de complexité infinie à l'étude d'un nombre fini de cas est explicitée.

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Securities firms, we focus on the alternative method in this section and apply it to the model portfolio in the following section. sec SEC The capital requirement under the basic method is Creg,1 ! 44 SEC  The Âcapital requirement under the alternative method is Creg,2 ! Ã Rsec max 50 , $250,000  Assets on the trading book are subject to haircuts—an industry term for valuating securities below market prices. They reflect the liquidity of the instrument and the credit quality of the counterparty as follows: the lower the liquidity and/or the lower the credit quality, the larger the haircut.

Broker-dealers generally rely heavily on subordinated debt to meet their capital requirements. Under the original Basel Capital Accord, banks are permitted to issue subordinated debt as supplementary (Tier 2) capital up to a limit of 50% of core (Tier 1) capital. Qualifying subordinated debt must have an original maturity of more than five years and is subject to a cumulative 20% discount for each of its last five years of maturity (BCBS 1988, p. 20). With the Amendment to the Capital Accord for Market Risk, the BCBS expanded the role for subordinated debt by recognizing an additional kind of capital (Tier 3) for the purpose of meeting the capital requirement for market risk.

When the securities business is integrated with banking, then systemic concerns about banking may extend to the securities business, as well. Third, securities firms have consolidated to form larger and larger entities. Partly, this is because the formation of financial conglomerates has often involved mergers and acquisitions, but the pace of consolidation has been even faster among firms in the same segment of the financial services industry. Although it is possible that larger financial firms will be less likely to fail, the occurrence of failure is more likely to be associated with systemic risk, since the spillover effects on the rest of the financial system are bound to be greater.

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A Beckman Quarles Type Theorem for Plane Lorentz Transformations by Benz W.


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