Assets quality

Aside from the traditional and Jumbo Pfandbriefe, the mortgage banks also offer structured Pfandbriefe for those investors that seek a more individually tailored product to suit their portfolios. These products are structured to particularly suit the investors interest rate expectations and their desired risk/return profiles. Structured Pfandbriefe allow the mortgage banks to combine the asset quality of the Pfandbrief with the advantages offered by derivatives. 

Asset quality is a measure of the strengths of the specific structure created for the ABS/MBS. However, it is a function of the issuer and underwriting standards of the covered bond, as well as the features of each issues framework. 

This is notably different from Pfandbriefe where bondholders have an eventual direct recourse to non-eligible assets if cover assets are insufficient to cover their claims and become pari passu with other senior unsecured creditors. Along similar lines, in case of insolvency of an originating credit institution, asset replenishment and/ or substitution is no longer possible, which leaves the SCF fully exposed to asset quality deterioration and repayment, and ensuing cashflow mismatches. 

Auto loan pools were some of the earliest to be securitized in the ABS market and still remain a major segment of the U.S. market. Investors have been attracted to the high asset quality involved and fact that that the vehicle offers an easily sellable, tangible asset in the case of obligor default. In addition, since a car is seen as an essential purchase and a short loan exposure (three to flve years) provides a disincentive to finance, no real prepayment culture exists. Prepayment speed is extremely stable and losses are relatively low, particularly in the prime sector. 

All these rates are, of course, quite low and the problem with corrosion of cast iron water mains is its effect on water quality rather than deterioration of the asset. 

Finally, it is good to quote Shaw (1992, p. 227) the most important asset in a CFD analysis process is the analyst, who actually translates the engineering problem into a computational simulation, runs the CFD solver and analyzes the results. It is the skill of this person, or set of persons, that will determine whether all the hardware and software will be utilized in the best possible way and produce good quality results. CFD is certainly not a panacea that may solve all... 

For developing reusable assets, you would generally want to apply many of the techniques in this book. Reuse means investing in the quality of software the old argument that we don t have time to document can have only a negative effect in a reuse culture. The development of products or applications will also use many of the same techniques, but the process can be quite different (for example, see Section 10.11, Heterogenous Components). 

Carbon nanotubes comprise a very promising material for various applications and especially as an active component in composites and hybrids as will be documented in the other chapters of this book. Harnessing these nanoscopic assets in a macroscopic material would maximize CNTs potential and applicability. The choice of synthesis technique and purification method, which define size, type, properties, quality and purity of CNTs as well as their processability, is crucial for their implementation into composites and hybrids. 

In firms such as Infosys, intellectual capital lies distributed among employees who can determine the extent and quality of their intellectual contributions. As Infosys s chairman pointed out, the firm s intellectual assets walk out of the door every evening and it is the management s responsibility to ensure that they return the next morning. 

Nicholson, S., Patricia M. Danzon, and Geoffrey McCullough. 2002. Biotech-Pharmaceutical Alliances as a Signal of Asset and Firm Quality. National Bureau of Economic Research Working Paper 9007. 

The use of catalysts for exploiting renewable energy sources, producing clean fuels in refineries, and minimizing the by-product formation in industry also fall within the definition of environmental catalysis. In the future, the continuous effort to control transport emissions, improve indoor ah quality, and decontaminate polluted water and soil will further boost catalytic technology. All in all, catalysts will continue to be a valuable asset in the effort to protect human health, the natural environment, and the existence of life on Earth. 

Good heat radiating qualities are an asset to an incendiary agent, that is, the spread of luminosity for good distances greatly increases the probability of fire raising. 

A professional manager has the time, training, and temperament to manage your assets successfully—qualities you may not possess. A trained professional takes the emotionality out of investing, knows the appropriate investment vehicles to achieve your goals, and can manage risk within your portfolio by choosing the proper balance of investment choices. This service will cost from one to two percent of your account balance annually. 

Broadly speaking, security is the quality or state of a system that keeps anyone (person or technical component) from carrying out unauthorized actions that might cause unwanted incidents with potential risky consequences. The unauthorized actions can occur within, with or from the system, and the consequences can be related to assets internal or external to... 

There is an industry trend toward dedicating specific personnel to the function of internal audits and quality assessments. This approach allows the assessor or auditor to focus on the compliance of the company and its vendors and contractors as well as maintain an independent role allowing for impartial assessment of all areas, including the QA unit. Those companies whose assessors and auditors also perform QA responsibilities might seriously consider the regular use of an independent assessment group, such as corporate auditors or an independent consultant. A fresh pair of eyes, coupled with extensive exposure to multiple worldwide operations, makes using external auditors, preferably with some former FDA experience a tremendous asset to any company. 

Dr. Wolkoff deftly handled his position of power within the Schering-Plough Research Institute. His grasp of what was needed to achieve desired goals and his ability to distill the essentials from complex information and then to make concise and focused decisions that went to the heart of a problem were rare and admirable qualities. In keeping with my other visionaries, he recognized that people were the most important assets in any organization, and his efforts to acclaim what his people had achieved were widely appreciated. Also, he did not shrink from constructive criticism. I always knew where I stood. 

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