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assignmentutor-lab™ 为您的留学生涯保驾护航 在代写利率建模Interest Rate Modeling方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写利率建模Interest Rate Modeling代写方面经验极为丰富，各种代写利率建模Interest Rate Modeling相关的作业也就用不着说。

• Statistical Inference 统计推断
• Statistical Computing 统计计算
• (Generalized) Linear Models 广义线性模型
• Statistical Machine Learning 统计机器学习
• Longitudinal Data Analysis 纵向数据分析
• Foundations of Data Science 数据科学基础

## 金融代写|利率建模代写Interest Rate Modeling代考|LIBOR MARKET INSTRUMENTS

The LIBOR market began when USD were deposited into non-U.S. banks in Europe. After the Second World War, the amount of USD in Europe increased enormously, both as a result of trading with the United States and the Marshall Plan. During the Cold War period (1950-1989), the Eastern Bloc countries deposited most of their USD assets into British or other European banks, for fear of the possibility that the United States would freeze these assets if they were held in U.S. banks. The USD owned by non-U.S. entities and circulated in Europe formed the basis of the so-called Eurodollar market. Over the years, as a result of the United States’s successive commercial deficits, dollardenominated assets also came to be held in many countries around the world. Such a situation effectively turned the Eurodollar market into a global market.

Since the Eurodollar market does not fall under the banking regulations of the U.S. government, banks in the Eurodollar market can operate on narrower margins than can banks in the United States. Thus, the Eurodollar market has expanded largely as a means of avoiding the regulatory costs involved in dollar-denominated financial intermediation. Such financial intermediation has fostered various financial innovations, particularly derivatives. Many currently popular interest-rate derivative instruments originate in the Eurodollar market.

Gradually, derivatives on interest rates of other major currencies also became tradable in the LIBOR market, including those on the German Mark, the Japanese Yen, the Swiss Franc, and of course, the Pound Sterling. In 1999 , the Euro became the official currency of the European Union. Nowadays, about 27 European countries have adopted the Euro, making it another major currency parallel to the USD. To some extent, the LIBOR market acted like an offshore market for these currencies. But today, thanks to globalization, the LIBOR market has crossed the geographical boundaries of most industrialized nations, and LIBOR instruments of various currencies can be traded in any major financial center in the world. In the next section, we introduce LIBOR instruments. We begin with standardized instruments and finish with exotic ones.

## 金融代写|利率建模代写Interest Rate Modeling代考|Forward-Rate Agreements

A forward-rate agreement (FRA) is a contract between two parties to exchange interest-rate payments, calculated using fixed and floating interest rates, respectively, over a certain period on a notional amount. The floating rate is usually a LIBOR rate. FRAs are OTC derivatives and are cash-settled, meaning that only the net payment is made, which, in particular, is made at the maturity of the FRA, not at the end of interest accrual period. The payer of the fixed interest rate is also known as the borrower or the buyer, while the receiver of the fixed interest rate is the lender or the seller. The features of a typical FRA are listed below.

1. Notional amount: 1 million dollars $(\$ 1 \mathrm{~m})$2. Compounding convention: simple 3. Term of lending: one year from now for three months 4. Fixed rate: negotiated 5. Floating rate: three-month LIBOR. To express the net payment, we let the maturity of an FRA be$T$, the fixed rate be$f$, the interest accrual period be$\Delta T$, and the floating rate for the term$\Delta T$at the maturity$T$be$f_T$. Then the net payment to the seller is $$P(T, T+\Delta T) \times \text { Notional } \times \Delta T \times\left(f-f_T\right) .$$ Here$P(T, T+\Delta T)$is the discount factor from$T+\Delta T$to$T$. Apparently, Equation$6.1$is equivalent to the payment of Notional$\times \Delta T \times\left(f-f_T\right)$at time$T+\Delta T$. ## 利率建模代考 ## 金融代写|利率建模代写Interest Rate Modeling代考|LIBOR市场工具 伦敦银行间拆放款利率市场始于美元存入非美国银行。欧洲的银行。第二次世界大战后，由于与美国的贸易和马歇尔计划，欧洲的美元数量大幅增加。在冷战时期(1950-1989年)，东方集团国家将大部分美元资产存入英国或其他欧洲银行，因为担心如果这些资产存放在美国银行，美国可能会冻结这些资产。非美国人持有的美元。实体和在欧洲流通的货币构成了所谓欧洲美元市场的基础。多年来，由于美国持续的商业赤字，世界上许多国家也开始持有以美元计价的资产。这种情况实际上把欧洲美元市场变成了一个全球市场 由于欧洲美元市场不受美国政府的银行监管，欧洲美元市场上的银行可以比美国的银行更窄的利润率。因此，欧洲美元市场的扩大很大程度上是为了避免以美元计价的金融中介所涉及的监管成本。这种金融中介促进了各种金融创新，特别是衍生品。目前许多流行的利率衍生工具源自欧洲美元市场 渐渐地，其他主要货币的利率衍生品也可以在伦敦银行同业拆借利率市场上交易，包括德国马克、日元、瑞士法郎，当然还有英镑。1999年，欧元成为欧盟的官方货币。如今，大约有27个欧洲国家采用了欧元，使其成为与美元平行的另一种主要货币。在某种程度上，LIBOR市场就像这些货币的离岸市场。但今天，由于全球化，LIBOR市场已经跨越了大多数工业化国家的地理边界，各种货币的LIBOR工具可以在世界上任何一个主要金融中心进行交易。在下一节中，我们将介绍LIBOR工具。我们从标准化的仪器开始，以奇异的仪器结束 ## 金融代写|利率建模代写Interest Rate Modeling代考|远期利率协议 远期利率协议(FRA)是双方之间交换利率支付的合同，利率支付分别采用固定利率和浮动利率计算，在一定时期内按名义金额计算。浮动利率通常是伦敦银行同业拆借利率。FRA是场外衍生品，以现金结算，这意味着只有净支付，特别是在FRA到期时支付，而不是在应计利息期结束时支付。固定利率的支付人也被称为借款人或买方，而固定利率的接受者则被称为出借人或卖方。下面列出了一个典型的FRA的特征 名义金额:100万美元$(\$1 \mathrm{~m})$复利约定:简单贷款期限:一年后三个月固定利率:议付浮动利率:三个月LIBOR。为了表示净支付，我们让FRA的期限为 $T$，固定汇率为 $f$，计息期限为 $\Delta T$和浮动汇率 $\Delta T$ 到期时 $T$ 是 $f_T$。那么给卖方的净付款是
$$P(T, T+\Delta T) \times \text { Notional } \times \Delta T \times\left(f-f_T\right) .$$

Notional $\times \Delta T \times\left(f-f_T\right)$

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## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。

assignmentutor™您的专属作业导师
assignmentutor™您的专属作业导师