How did LTCM secure long-term funding?
What will be an ideal response?
LTCM developed extensive financial backing from banks and other financial institutions.
It arranged large credit lines ($900 million), a three-year, unsecured loan ($230 million), and financed most of its security purchases in the six-month to one-year (reverse) repo market. LTCM also wrote a covenant into its investment contract that limited investors' ability to withdraw capital from the fund. At first, this covenant stipulated that equity remain invested for at least three years, but in 1996 the restriction was eased, allowing investors to cash out one third of their capital at the end of each year after the first one.
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In 1995, the General Agreement on Tariffs and Trade was replaced by the ______________.
a. Agency for International Development b. Organization for Economic Cooperation and Development c. United Nations Center for Trade and Development d. World Trade Organization
Which of the following is an automated, auction-based method for matching demand and supply for online display ads?
A. retargeting B. behavioral targeting C. programmatic advertising D. keyword advertising
Managerial accounting focuses on internal decision making
Indicate whether the statement is true or false
LIFO inventory layers
a. occur when ending inventory is less than beginning inventory. b. are liquidated when ending inventory exceeds beginning inventory. c. are created in years in which inventory purchases exceed sales. d. must be disclosed in the annual report. e. none of the above