GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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07:48 Apr 23, 2008 |
Italian to English translations [PRO] Bus/Financial - Finance (general) | |||||||
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| Selected response from: Adele Oliveri Italy Local time: 12:36 | ||||||
Grading comment
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Summary of answers provided | ||||
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2 +4 | with the same maturity date |
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with the same maturity date Explanation: qui volo basso, perché non sono sicurissima della risposta. il senso dovrebbe essere questo: lo spread tra il tasso interbancario a tre mesi e i contratti future sul tasso overnight aventi la medesima scadenza (quindi anch'essi a tre mesi), solitamente molto basso, a inizio dicembre e aumentato repentinamente. qui trovi una descrizione dei contratti future di cui si parla: http://www.frbsf.org/publications/economics/letter/2004/el20... Federal funds futures rates. Federal funds futures contracts have been traded on the Chicago Board of Trade (CBOT) since 1988. These contracts have a payout at maturity based on the average effective federal funds rate during the month of expiration. Thus, the value of these securities reflects the expected month-average federal funds rate. The CBOT offers contracts with monthly expirations out to two years, but most of the trading activity is concentrated in contracts with shorter horizons. Currently, **federal funds futures contracts are extremely liquid at expirations out to three months** and remain fairly liquid up to about six months. Also, the open interest, that is, the total number of contracts outstanding, in federal funds futures contracts has risen markedly since their inception in 1988. Term federal funds rates. The federal funds rate—the policy instrument of the Federal Reserve—is the unsecured overnight borrowing rate among banks. Although overnight lending is by far the most active segment of the federal funds market, banks can also borrow and lend to one another for longer periods in this market. The rates on these longer-term loans, or term federal funds rates, should provide information about expected future levels of the overnight federal funds rate, given banks' ability to substitute between term federal funds and overnight federal funds. se non la risposta, spero che quanto meno il materiale ti torni utile :-) -------------------------------------------------- Note added at 1 day8 hrs (2008-04-24 16:36:33 GMT) Post-grading -------------------------------------------------- pleasure! |
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Grading comment
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