- https://el.m.wikipedia.

org/wiki/

,
, ,
,
/ ( ).
,

.
( ), .

,
.
, ( )
.
.
,
( )
.
[1] ,
.

,
()
( ),
. ,

, , . ,

(
,
,
).

1 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

: (, , )
: (
).

():
.

(Yield ): ,

.

(yield to maturity):
.

(yield to call):

.

(Face Value):

2 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

(Price): (100),

.
, (100),
(premium). ,
(100), (discount).
, :

1. (Issue Price):
, .

2. : .

3. : .

4. (Redemption Price):
, .
.

(Issue Date): .

(Maturity Date): .

/ :

( , ,
, ) 100 (%),
. , ,
.

(coupon rate)

(fixed rate bond),

,
(adjustable, variable rate bond),

.
,
.

3 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

, .

EURIBOR: ..
EURIBOR + 2%.
2% EURIBOR.

(margin).

(coupon frequency)

. :
,
... .

(maturity)

(Accrued Interest):
( )

(Fair Value):
( ).
(Yield to Maturity):

100 (%).
(Quoted Margin): (
).
.
, LIBOR + 2%,

4 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

2% ,
.

, (Basis Points),
100 1%.

(Discount Margin):
, (discount margin)
(margin) ,
, (quoted margin)
.
.
:
.
Senior Debt Instruments:
Subordinated Debt Instruments:
Tier 2 Capital: .
Lower Tier 2 Capital: .
Upper Tier 2 Capital: .
Tier 1 Capital: .
Lower Tier 1 Capital:
Upper Tier 1 Capital:
:

.

(....)
( )
, ,
. , ....

, ,
,
.
,

. ,

5 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

, (Issues)
. o ....

: o Standards and Poors Fitch :

: AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-,

+, , -, +, , -, CCC+, CCC, CCC-, CC, C, RD, D.
: F1+,F1, F1-, F2, F3,B, C, D.

o Moodys Investors Service :

: Aaa, Aa1, Aa2, Aa3, A1, A2, A3, Baa1, Baa2, Baa3,
Ba1, Ba2, Ba3, B1, B2, B3, Caa1, Caa2, Caa3, Ca, C.
: P-1, P-2, P-3, NP.

1.

. Bond_duration

2.
.

,
, , ,
.
, .

. (laddered portfolio,

, 1 10 ). 1
10 .
,

6 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

:
.
:
.

:
.

,
.

7 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

,, .

(treasury bond)
(corporate bond)
(municipal bond)
(supranational bond)
()
.
,
(zero coupon bonds).
,
( )
' .
,
.
( S & P, Moodys, Fitch ).

(investment bonds), (
S &P) / (junk bond)
( - C S & P).
.
1 (yield)

(:
discount securities)

(: treasury bill)

,
. 13, 26 52 .

(Zero coupon bond)

8 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

1 3 .

.
(
) . zero coupons

.

.

(: coupon bonds)
1. (: fixed coupon)

.
. ,
.
H .

1. (: floating rate note)

( )
, .
(spread)

. H ,
, ,
. 7
,

.
6 Euribor.

.

1. ( )

. ,

9 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

.
.
.


.
.

1.

.

, ,
.

(domestic bond)

(international bond)

, , .
,
. ,

.

,

.
.

10 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

, " ."

.
, , ,
, ,
.
- . :

Yankee , ,

, ,

, ,

( ) http://www.piraeusbank.gr
/treasury/Default.aspx?id=300&nt=18 ) ]

, ,

-
Eurogroup . -
-
.

-
,

- . -
,

11 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

. , , , ..
( )
.

,
, .
. ,
,


,
. , ,
,
,
. . ,
,
,
,

. . , ,
,
. ,
, , ,
, ,
,
... . ,
,
,
.. , , .
,
, . ,

.
,
.

12 of 13 05-Jan-17 3:57 PM
 - https://el.m.wikipedia.org/wiki/

( )[1]

David Begg / - ,
2006

-
/ Rosili

http://www.aueb.gr

. /
/ 2008

http://www.eurobank.gr

http://www.tanea.gr

http://www.epohi.gr

http://www.euretirio.com

http://www.dw-world.de/dw/article/0,,6324273,00.html
1. - . http://www.tsig.gr/lang-
el/banks/trapezikoi-oroi?start=5 .

6 Spinalgr1990

13 of 13 05-Jan-17 3:57 PM