This left loopholes for banks to raise excessive leverage through funding with "non-core liabilities" -- instruments banks would not draw on during normal times, such as retail deposits by households -- leading to a round of crisis-like events in 2008.
where, for example, the block (CPin mathbb {R}^{n^{C}times n^{P}}) represents the core banks' liabilities towards the periphery banks.
We assume that a core-periphery relative liabilities matrix Π can be represented by a random block matrix Pi=left(begin{array}{ll} CC & CP PC & PP end{array}right)inmathbb{R}^{ntimes n}, (7).
Now, Atari is seeking to sell its American operations through what is known as a 363 sale, allowing a buyer to gain control of the company's core assets free of any liabilities.
It's also the core reason for the unfunded liability in public pension plans in California, where public employers were given contribution "holidays" in the 1990s, when a bloated stock market made the public pension funds look permanently flush.
Insolvency and limited liability lay at the core of commercial enterprise.
Liability portfolios of Korean core industries (semiconductors and other electronic components and the building of ships and boats, motor vehicles, and engines) are more dependent on foreign funds than other manufacturing industries.
The general idea is to find someone who complements the candidate's qualities but is also utterly safe, a non-liability that enrages no core constituencies.
Reducing its balance sheet by $11 billion should encourage prospective investors to focus less on G.M.'s financial liabilities and more on its core asset.
In this section, we simulate the relative liabilities matrix Π as a core-periphery random network and observe how this affects the impact of bankruptcy costs, cross-holdings, and fire sales on the number of defaults.
The recent panic stemmed from a run on those liabilities.Mr Gorton first laid out the core of his theory in a 2008 academic paper which was later incorporated into a book, "Slapped by the Invisible Hand".
