Credit Risk in G20 Nations: A Comparative Analysis in International Finance Using Option-Adjusted-Spreads

Corporate bond yields are the manifestation of the cost of financing for private firms, and if properly evaluated, they provide researchers with valuable risk information. Within this context, this work is the first study producing corporate yield spreads for all S&P-rated bonds of G20 nations to explain their comparative riskiness. The option-adjusted spread analysis is an advanced method that enables us to compare the bonds with embedded options and different cash flow characteristics. For securities with embedded options, the volatility in the interest rates plays a role in ascertaining whether the option is going to be invoked or not. Therefore, researchers need a spread that, when added to all the forward rates on the tree, will make the theoretical value equal to the market price. The spread that satisfies this condition is called the option-adjusted spread, since it considers the option embedded into the issue. Ultimately, this work investigates the credit risk differentials of S&P rated outstanding bonds issued by the G20 nations to provide international finance professionals with option-adjusted corporate yield spreads showing the credit risk attributable to debt instruments. Detailed results computed using OAS methodology are presented in tables and used to answer the six vital credit-risk-related questions introduced in the introduction.

IMPLEMENTATION OF CONSUMER PROTECTION ON EXECUTION OF UNREGISTERED FIDUCIARY WARRANTYAT PT.FEDERAL INTERNATIONAL FINANCE (FIF) OF BENGKULU BRANCH

The execution of collateral in the financing institution as contained in the UUJF is clearly made by the creditor against the debtor whose is breach of contract, in which the execution of the creditor has a permanent legal forceand legitimate. However, for unregistered warranty in accordance with UUJFwould cause conflict. One of the conflicts that arises is the unprotected consumer rights. The purpose of this research is to understand and analyze the implementation of consumer protection on execution of fiduciary Warranty which is not registered at PT.Federal International Finance (FIF) of Bengkulu Branch. The method used was empirical juridical approach, by using qualitative analysis. Result of the research mentioned that implementation of consumer protection at execution of unregistered fiduciary Warranty at PT. Federal International Finance (FIF) of Bengkulu Branch was not in accordance with the provisions of applicable legislation where the execution of PT. Federal International Finance (FIF) of Bengkulu Branch was not accompanied by a fiduciary certificate and was not through previous mediation efforts so that the execution of non-registered fiduciary warrantyviolated the rights of the debtor as a consumer.

LOANS SETTLEMENT AT FEDERAL INTERNATIONAL FINANCE Ltd. (FIF) BANDAR LAMPUNG CITY

There are many ways to purchase a vehicle, including a credit system. However, various problems arise in its application regarding the settlement of bad loans caused by default debtors. This study aims to analyse the efforts made by Federal International Finance Ltd. (FIF) Bandar Lampung City in resolving motor vehicle bad loans due to default debtors. This study uses empirical normative legal research methods and qualitative descriptive methods. The data is obtained from direct observations and interviews, then linked to legal regulations concerning the default problem. The results indicate that Federal International Finance Ltd. has an ideal solution to resolve bad Loans through litigation and non-litigation. Efforts to settle bad loans through non-litigation could be made by giving a subpoena to the debtor. Furthermore, the creditor could take litigation by filing a civil lawsuit against the debtor for default according to Article 1243 of the Civil Code.

Using Options and Futures as Tools of Capital Increase in Digital Economy

The article provides basic notions of derivative market, shows what these finance tools are, how they work and how capital can be increased with their help. By citing examples from historical development and simple conventional examples the mechanism of derivatives’ functioning was explained and their links with underlying assets were studied, for instance it was shown how the value of exchange tool can enter the negative zone. Exchange and OTC markets were analyzed, their value was investigated on the basis of historical statistics of international finance institutions and mechanisms of their interaction with regulators on the territory of the Russian Federation and abroad were researched. Strategies of using these finance tools for speculation, hedging and arbitration were demonstrated, their advantages and disadvantages were identified. As a result the authors put forward strategy of entering overestimated market with the help of options.

Recap of the 28th Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management & the 14th NCTU International Finance Conference

The 28th Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management was held at National Chiao Tung University, Taiwan on January 7 and 8, 2021. The first conference was held at Rutgers University in 1993. Since then, the conference has been held in Hong Kong (1994, 1998), Taipei (1995, 1999. 2003, 2006, 2011, 2016, 2019), Bangkok (2000, 2004, 2009), Rutgers (1996, 2001, 2005, 2012, 2018), Singapore (1997, 2002, 2017), Vietnam (2007, 2015), Australia (2008, 2013), China (2010), and Japan (2014). The program co-directors of the conference were Cheng-Few Lee, Rutgers University, USA, and Woan-lih Liang, National Chiao Tung University, Taiwan.

Promoting Access to Health Technologies in the Post-pandemic Era: Gavi, Global Fund, Unitaid, and Access to COVID-19 Tools Accelerator (ACT-A) Programs

Purpose: Global collaboration to accelerate development and equitable access to COVID-19 tests, treatments, and vaccines was launched with the name of the Access to COVID-19 Tools Accelerator (ACT-A), and this initiative owes its expertise to the lessons learned of the global health organizations. To date, the comprehensive mechanisms and potential effects of the initiative remain largely unknown. Methods: This study reviewed the programs of Gavi, the Global Fund, Unitaid, and ACT-A, which mitigating barriers to greater use of health technology with an analytic framework. Results and conclusion: The study findings are as follows. First, programs to alleviate the absence of necessary technology include the International Finance Facility for Immunization and Covax Facility. Second, Pooled Procurement Mechanism and Accelerated Order Mechanism are examples of mitigating the inability to access technology. Third, programs to overcome reluctance to adopt accessible technology include health system strengthening efforts such as the capacity-building health workforces. Further actions of Korea are needed to collaborate with the initiatives to enhance health outcomes.