Folks,
Herewith I have given below the link for Batch XVIII - Day 5 - Presentation made in Fast Track Webinar Series for IBBI Valuation Exam (SFA) on "FIXED INCOME SECURITIES"
FIXED INCOME SECURITIES (7 Marks) + Case Study (6 Marks) Minimum
- Types of fixed income securities: categories of fixed income securities i.e. debt and preferred stocks along with different rights attached to both categories
- Types of debt instruments: sovereign securities; state and local government bonds; semi-government/agency bonds; corporate debt securities; corporate bonds; money market securities in relation to investments (CP, CD, T-Bills); tax free securities; asset backed securities
- Terms used in fixed income securities: fixed income securities; bond indenture; issuer and holder; covenants; maturity; par value, coupon rate, clean price, dirty price; repurchase agreement; yield to maturity, yield to put, yield to call; forward rate and spot rate
- Bond duration: Macaulay duration, Modified duration, Effective duration, Key duration
- Credit rating of bonds: risk assessment and factors considered in assigning credit rating
- Embedded options for issuer and holder; call/put for repayment; cap and floor on coupon; conversion options; pre-payment options
- Derivative products: types of derivative products; calculation of swap rates; valuation of swaps; accruals on swaps
- Related Fixed Income Money Market and Derivatives Association of India circulars for Non-SLR bonds, Traded bonds, Non-traded bonds-rated, Non-traded bonds-not rated, Floating rate bonds, Staggered redemption bonds, Perpetual bonds, Deep discount bonds, Bonds with call/put options, Tax free bonds, Security receipts/Pass through certificates
- This chapter in IBBI Valuation exam carries 6 to 8 marks | FIMMDA – FAQ on Fixed Income Securities | Master Circular No. DBR No BP.BC.6 /21.04.141/2015-16, dated 1st July, 2015, FIMMDA jointly with PDAI publishes – 29/3/2019 & 31/3/2020 | Bond, Duration, Types of Bond, Bond Holder, Bond Issuer | YTM, YTC, YTP | Credit Rating, Interest Rate Derivatives
Link for GKR Material on Valuation of Bonds (PDF)
Link for Master Direction on Classification, Valuation and Operation of Investment Portfolio of Commercial Banks - RBI (PDF)
Link for FAQ on Fixed Income Securities - FIMMDA (HTML)
Valuation of investments as on 31st March 2023 - FIMMDA (PDF)
https://www.fimmda.org/Uploads/general/FIMMDA_VOI_Circular_for_2023_Updated_as_on_31-03-2023.pdf
Discussion Paper on ECL framework for Provisioning by Banks - RBI (PDF)
Kindly post your comments, suggestions, queries & review of the webinar session below this post
Happy Reading | Please contact Venkatesh (75502 25226) for being part of FT18 - Valuation - WhatsApp group.
Dr GKR
2nd FEB 2024 | Friday
YouTube Link
We commend the efforts taken in helping to understand the complex topic of bond valuation in such a lucid and easy to understand language. The binomial valuation and BSM didn't seem so easy earlier. Eagerly waiting for the the full-day seminar on bond valuation.
ReplyDeletePresentation on fixed income securities by GKR Sir was excellent and understandable from Vandana Bansal FCMA
ReplyDeleteThank you for your excellent efforts for helping the professional fraternity Sir.
ReplyDelete