⑴How to explain「Affirmative Covenants」and 「Negative Covenants」under Syndicated Loans? If the borrower fails in compliance with those rules and regulations, the creditor bank would have some penalty provisions. Please discuss the details.【15 分】

⑴已知張三持有「A 汽車公司」股票 1,000 萬元，該股票報酬率的年波動率（以報酬率的標準差衡量）為 16%，假設一年共有 250 個交易日，每個交易日的股票報酬率雖彼此獨立，但具有相同的波動幅度，試問 A 汽車公司股票的「日波動幅度」應為多少元？同理，假設張三又持有「B 光電公司」股票 500 萬元，該股票報酬率的年波動率為 8%時，試問 B 光電公司股票的「日波動幅度」應為多少元？【10 分】

題組內容

⑴How to explain「Affirmative Covenants」and 「Negative Covenants」under Syndicated Loans? If the borrower fails in compliance with those rules and regulations, the creditor bank would have some penalty provisions. Please discuss the details.【15 分】

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