Traduction de «inversion de l'écart de rendement actions-obligations » (Français → Anglais) :

a repurchase transaction (when a party sells a security, i.e. a financial asset such as a share or a government bond, and agrees to repurchase it in the future repaying the original sum of money plus a return for the use of that money).

[14] Countries' long-term interest spreads vis-à-vis the euro-area long-term benchmark bonds (n.b. the German benchmark bond is used as a proxy for the euro area) are computed using the monthly series "EMU convergence criterion bond yields" published by Eurostat.

If primary corporate bonds (i.e. all-in yield upon issuance) or secondary corporate bonds (i.e. the option adjusted spread over the appropriate curve, which is usually the relevant currency swap curve) are used, those for the obligor should be used in the first instance; if not available, primary or secondary corporate bonds for comparable borrowers and comparable transactions should be used.

(80)The Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty on the Functioning of the European Unionin order to: specifythe definitions of "critical functions" and "core business lines", specify the circumstances when an institution is failing or likely to fail specify the circumstances when the asset separation tool should be applied specify the liabilities excluded from the scope of application of the bail-in tool, specify the circumstances when exclusion from the bail-in tool is necessary to ensure the continuation of critical operations and core business lines, specify the criteria for the determination of the minimum amount of eligible liabilities required from institutions for the purpos ...[+++]es of the bail in tool, specify the circumstances when, in application of the bail-in tool, existing shares should be cancelled and liabilities should be converted into shares, specify the circumstances when third country resolution proceedings should not be recognised, further specify the conditions under which it should be considered that the target level of the financing arrangements has significantly deviated from the initial level, adopt criteria aimed at adjusting the contributions to the financing arrangements to the risk profile of institutions, define obligations aimed at ensuring the effective payment of the contributions to the financing arrangements and specify the conditions for the mutual borrowing between national financing arrangements.

Yield spreads vis-à-vis German long-term government bonds widened between end-2012 and autumn 2013, as Swedish bond yields increased owing to a partial reversal of safe-haven flows from the euro area. The spread against the German benchmark bond stood at some 60 basis points in April 2014.

Studies [12] suggest that one expected source of benefit - narrower equity and corporate bond spreads - would allow: