tailieunhanh - Measuring the Impact of Microfi nance: Taking Stock of What We Know

The term portfolio is composed of GSE MBS, private label MBS and commercial MBS, state housing authority debentures, and longer-term Treasuries. These investments are also highly- rated, although the drivers for the high ratings can be different than those for the money market portfolio. In particular, the amount of collateral rather than quality of collateral for private label MBS and CMBS drives the ratings. This portfolio is liquid and comparatively higher-yielding. The portfolio is used primarily to generate earnings, but can also be used for other purposes, normally within a broad balance sheet management. | Grameen Foundation USA Measuring the Impact of Microfinance Taking Stock of What We Know by Nathanael Goldberg December 2005 Grameen Foundation USA Publication Series Measuring the Impact of Microfinance Taking Stock of What We Know by Nathan ael Goldberg December 2005 Grameen Foundation USA Publication .

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