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Terra Securities Scandal
The Terra Securities scandal was a scandal that became public in November 2007. It involved highly speculative investments by eight municipalities of Norway in various hedge funds in the United States bond market.Mark Landler"U.S. Credit Crisis Adds to Gloom in Arctic Norway"''New York Times'', December 2, 2007 (Retrieved on December 2, 2007) The funds were sold by Terra Securities to the municipalities, while the products were delivered by Citigroup. The municipalities involved were Narvik, Rana, Hattfjelldal and Hemnes in Nordland, Vik and Bremanger in Sogn og Fjordane, Haugesund in Rogaland, and Kvinesdal in Vest-Agder, all large producers of hydroelectricity. The investments were very complicated. They were geared, and they involved high risk through a small upside but a very large downside. Terra Securities, now bankrupt, was a subsidiary of Terra Markets, which is owned 66.73% by Terra-Gruppen, an alliance and co-branding company owned by 78 local savings banks in Norwa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kvinesdal
Kvinesdal is a municipality in Agder county, Norway. It is located in the traditional district of Lister. The administrative centre of the municipality is the village of Liknes. Other villages in Kvinesdal include Feda, Fjotland, and Storekvina. Kvinesdal is an elongated mountain-to-coast municipality, reaching saltwater at the head of the Fedafjorden, which provides access to the North Sea in the south. Further north, the landscape is cut by narrow valleys with scattered small villages. There are also abandoned mines at Knaben, a popular ski resort. Because Kvinesdal resembles the geography of the nation as a whole, it is often referred to as "Little Norway". The municipality is the 121st largest by area out of the 356 municipalities in Norway. Kvinesdal is the 161st most populous municipality in Norway with a population of 5,883. The municipality's population density is and its population has increased by 0.8% over the previous 10-year period. Kvinesdal belongs to a cent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norwegian Ministry Of Local Government And Regional Development
The Royal Norwegian Ministry of Local Government and Regional Development ( no, Kommunal- og regionaldepartementet) is a Norwegian ministry established in 1948. It is responsible for the housing and building, regional and rural policy, municipal and county administration and finances, and the conduct of elections. It is headed by the Minister of Local Government and Regional Development. Organization The ministry has 190 employees and is divided into five departments: * The Department of Local Government * The Department of Regional Development * The Housing and Building Department Political staff * Minister Magnhild Meltveit Kleppa ( Centre Party) * State Secretary Janne Sjelmo Nordås (Centre Party) * State Secretary Dag-Henrik Sandbakken (Centre Party) * Political Adviser Lars Erik Bartnes (Centre Party) Subsidiaries * Norwegian State Housing Bank, or ''Husbanken'', issues loans for housing. * National Office of Building Technology and Administration, or ''Statens bygningst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market
A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind. Size of the market The total market capitalization of all publicly traded securities worldwide rose from US$2.5 trillion in 1980 to US$93.7 trillion at the end of 2020. , there are 60 stock exchanges in the world. Of these, there are 16 exchanges with a market capitalization of $1 trillion or more, and they account for 87% of global market capitalization. Apart from the Australian Securities Exchange, these 16 exchanges are all in North America, Europe, or Asia. By country, the largest stock markets as of January 2022 are in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loophole (law)
A loophole is an ambiguity or inadequacy in a system, such as a law or security, which can be used to circumvent or otherwise avoid the purpose, implied or explicitly stated, of the system. Originally, the word meant an arrowslit, a narrow vertical window in a wall through which an archer (or, later, gunman) could shoot. Loopholes were commonly used in U.S. forts built during the 1800s. Located in the sally port, a loophole was considered a last ditch defense, where guards could close off the inner and outer doors trapping enemy soldiers and using small arms fire through the slits. Loopholes are distinct from lacunae, although the two terms are often used interchangeably. In a loophole, a law addressing a certain issue exists, but can be legally circumvented due to a technical defect in the law, such as a situation where the details are under-specified. A lacuna, on the other hand, is a situation in which no law exists in the first place to address that particular issue. Use a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Largest Banks
The following are lists of the largest banks in the world, as measured by total assets. By total assets The list is based on the April 2022 S&P Global Market Intelligence report of the 100 largest banks in the world. The ranking was based upon assets as reported and was not adjusted for different accounting treatments. Accounting treatment affects the assets reported: for example, the United States uses US GAAP (as opposed to IFRS), which only reports the net derivative position in most cases, leading to US banks having fewer derivative assets than comparable non-US banks. If JPMorgan Chase reported under the IFRS, it would be ranked 4th on the list , rather than 5th. Banks by country or territory By market capitalization The list is based on Relbanks.com's ranking as at 1 July 2019, where the data are derived from annual reports and financial statements of the companies. See also * List of systemically important banks * List of largest banks in the United States * Li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sparebank
Sparebank is a Norwegian savings bank without external owners. The Norwegian sparebanks are a separate type of juridical entity that differ from commercial banks. There are a total of 123 savings banks in Norway. History The first savings bank was created in 1822, and in the following 75 years savings banks were set up in most municipalities of Norway. The banks had both a savings upbringing function for the commoners (so they did not have to burden society when they got sick and old) and served an important part in local communities development and self-financing. Historically the savings banks concentrated on private customers, combined with small businesses and the primary sector. Loans were financed through deposits. Today the differences between savings banks and commercial banks are smaller, partially because savings banks now can issue stock-like '' grunnfondsbevis'' where the owners are both given dividend and representation in the governing bodies of the banks. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-branding
Co-branding is a marketing strategy that involves strategic alliance of multiple brand names jointly used on a single product or service. Co-branding is an arrangement that associates a single product or service with more than one brand name, or otherwise associates a product with someone other than the principal producer. The typical co-branding agreement involves two or more companies acting in cooperation to associate any of various logos, color schemes, or brand identifiers to a specific product that is contractually designated for this purpose. The object for this is to combine the strength of two brands, in order to increase the premium consumers are willing to pay, make the product or service more resistant to copying by private label manufacturers, or to combine the different perceived properties associated with these brands with a single product. An early instance of co-branding occurred in 1956 when Renault had Jacques Arpels of jewelers Van Cleef and Arpels turn the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Alliance
A business alliance is an agreement between businesses, usually motivated by cost reduction and improved service for the customer. Alliances are often bounded by a single agreement with equitable risk and opportunity share for all parties involved and are typically managed by an integrated project team. An example of this is code sharing in airline alliances. Types There are five basic categories or types of alliances: *Sales: A sales alliance occurs when two companies agree to go to market together to sell complementary products and services. *Solution-specific: A solution-specific alliance occurs when two companies agree to jointly develop and sell a specific marketplace solution. *Geographic-specific: A geographic-specific alliance is developed when two companies agree to jointly market or co-brand their products and services in a specific geographic region. *Investment: An investment alliance occurs when two companies agree to join their funds for mutual investment. *Join ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terra-Gruppen
Eika Gruppen, formerly Terra-Gruppen, branded as Terra is a strategic alliance among 77 local Norwegian savings banks that co-ordinates work within the areas defined as falling within the alliance. The group supplies products and services to banks and other actors within the financial sector. The services of Eika include product development, procurement of services and products relating to information technology and payment processing, project management, training and expertise development. The financial companies provides a wide range of financial products, including securities, insurance and real estate agencies, financing and debit cards and credit cards. The alliance has its headquarters in Oslo, Norway, and the ownerbanks has a total assets of NOK 250 billion. Subsidiaries * Aktiv Eiendomsmegling (real estate agencies incl franchise) * Aktiv Eiendomsoppgjør (real estate services) * Eika BoligKreditt (mortgage finance) * Eika Kredittbank (credit and debit cards, consumer f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terra Markets
Terra Markets AS (formerly known as Orion Securities AS) is a Norwegian investment banking firm in the Norne Securities group. Terra Markets employs 75 professionals in brokerage, equity research, market making and corporate finance. The equity research team consists of 15 analysts who cover approximately 150 listed companies in Norway. The team has a particularly strong coverage of small and midcap companies on the Oslo Stock Exchange and has a strong track record in the Norwegian market. Among its achievements can be mentioned that Terra Markets has won the expert competition Børsspeilet in Økonomisk Rapport seven eight in a row. Terra Markets is a member of the stock exchanges in Oslo Oslo ( , , or ; sma, Oslove) is the capital and most populous city of Norway. It constitutes both a county and a municipality. The municipality of Oslo had a population of in 2022, while the city's greater urban area had a population .... History * In 2009, Terra Group acq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Risk
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent. A science has evolved around managing market and financial risk under the general title of modern portfolio theory initiated by Dr. Harry Markowitz in 1952 with his article, "Portfolio Selection". In modern portfolio theory, the variance (or standard deviation) of a portfolio is used as the definition of risk. Types According to Bender and Panz (2021), financial risks can be sorted into five different categories. In their study, they apply an algorithm-based framework and identify 193 single financial risk types, which are sorted into the five categories market risk, liquidity risk, credit risk, business risk and investment risk. Market risk The four standard market risk factors are equity ri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
