An overview of Portfolio Insurances: CPPI and CPDO

Derivative instruments attempt to protect a portfolio against failure events. Constant proportion portfolio insurance (CPPI) and constant proportion debt obligations (CPDO) strategies are recent innovations and have only been adopted in the credit market for the last couple of years. Since their introduction, CPPI strategies have been popular because they provide protection while at the same time they offer high yields. CPDOs were only introduced into the market in 2006 and can be considered as a variation of the CPPI with as main difference the fact that CPDOs do not provide principal protection. Both CPPI and CPDO strategies take investment positions in a risk-free bond and a risky portfolio (often one or more credit default swaps). At each step, the portfolio is rebalanced and the level of risk taken will depend on the distance between the current value of the portfolio and the necessary amount needed to full all the future obligations. In a first step the functioning of both products is studied in depth concluding with drawing some conclusions on their risky-ness.JRC.G.9-Econometrics and statistical support to antifrau

INFECTION ENDOGENE DU TRACTUS GASTRO-INTESTINAL. IMPORTANCE DU PRELEVEMENT POUR UN DIAGNOSTIC BACTERIOLOGIQUE CORRECT

SCOPUS: NotDefined.jinfo:eu-repo/semantics/publishe

Portfolio Insurances, CPPI and CPDO, truth or illusion?

Constant proportion portfolio insurance (CPPI) and constant proportion debt obligations (CPDO) strategies have recently created derivative instruments, which try to protect a portfolio against failure events and have only been adopted in the credit market for the last couple of years. Since their introduction, CPPI strategies have been popular because they provide protection while at the same time they offer high yields. CPDOs were only introduced into the market in 2006 and can be considered as a variation of the CPPI with as main difference the fact that CPDOs do not provide principal protection. Both CPPI and CPDO strategies take investment positions in a risk-free bond and a risky portfolio (often one or more credit default swaps). At each step, the portfolio is rebalanced and the level of risk taken will depend on the distance between the current value of the portfolio and the necessary amount needed to fulfill all the future obligations. We first analyze in detail the dynamics of both investment strategies and afterwards test the safetyness of both products under a multivariate Lévy setting. More precise we first propose a quick way to calibrate a multivariate Variance Gamma (VG) process on correlated spreads, which can then be used to quantify the gap risk for CPPIs and CPDOs.JRC.DDG.01-Econometrics and applied statistic

SENSIBILITE A 12 ANTIBIOTIQUES DE SALMONELLA D'ORIGINE HUMAINE ISOLEES EN BELGIQUE. ETUDE COMPAREE DES TETRACYCLINE, DOXYCYCLINE ET MINOCYCLINE

SCOPUS: NotDefined.jinfo:eu-repo/semantics/publishe

Prévention de l'endocardite bactérienne: nouvelles recommandations

SCOPUS: ar.jinfo:eu-repo/semantics/publishe

In vitro bacteriostatic and bactericidal activities of 7 cephalosporin antibiotics on Haemophilus influenzae

SCOPUS: ar.jinfo:eu-repo/semantics/publishe

INFECTIONS A BACILLUS CEREUS. A PROPOS DE 3 CAS PERSONNELS

SCOPUS: ar.jinfo:eu-repo/semantics/publishe

Intramuscular piperacillin sodium in uncomplicated lower urinary tract infections: Evaluation of safety, clinical and bacteriological responses and blood levels

Twenty hospitalized adults with lower urinary tract infections received piperacillin sodium intramuscularly 2 grams every 12 hours for 6 to 8 days. Eradication of the causative pathogen was achieved in all patients and was maintained in 14 of them for at least 6 weeks. The mean peak serum level, determined one hour after the 2-gram intramuscular dose, was 40 ug/ml (11-94). Minor side effects were observed including a slight and reversible elevation of blood urea in 3 subjects who had received - concurrently or recently - moderate doses of furosemide.SCOPUS: NotDefined.jinfo:eu-repo/semantics/publishe

ISOLEMENT DE SOUCHES MICROBIENNES PEU CONNUES ET RECEMMENT DECRITES: NEISSERIA ELONGATA ET MORAXELLA URETHRALIS

SCOPUS: ar.jinfo:eu-repo/semantics/publishe

Pivampicillin in urinary tract infections. Clinical and microbiological evaluation (Dutch)

SCOPUS: ar.jinfo:eu-repo/semantics/publishe