The company built credibility by investing in the best-quality assets with existing blue-chip tenants.
It purchased unprecedented quantities of mortgage-backed securities and other low-quality assets that threatened the solvency of many financial institutions.
Yet when some supposedly good-quality assets proved to be worth little, people lost faith in the models and the ratings.
It might mean staying in the biggest cities but plumping for lower-quality assets, or moving into the best locations in secondary cities.
This means making sure high-quality government bonds, say, are not needlessly tied up as collateral for trades where lower-quality assets would be acceptable.
But the SEC and others had never considered what might happen if the bank was unable to borrow from trading partners, even using loans secured by high-quality assets.
The centers are "very high quality assets, " David Henry, Kimco's president and chief executive, said during a call Wednesday to discuss Kimco's fourth-quarter financial results with investors.
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That's partly because, faced with this uncertainty over their balance sheets, banks have been forced to rely more heavily on secured funding, pledging their highest quality assets as collateral.
According to our methodology this stock is cheap, and we do think there is as yet untapped value in all of the quality assets housed under the CKX umbrella.
Mervyn King's remarks that he wants to see RBS's poisonous and low quality assets hived off into a new so-called bad bank matter - but probably not in the way that seems most obvious.
It is that the credit will be provided to them against the security of pretty much any assets that the banks have, rather than the more narrowly defined and better quality assets that the Bank currently insists they provide.
It also says the biggest banks should go further than this and have a safety cushion of between 17% and 20% of assets, made up of highest-quality assets topped up with bonds that can be easily converted to equity.
Canada's banks avoided going down the route of those of many developed countries, keeping higher stocks of good quality assets partly thanks to a tighter grip on regulation - much of the credit for which is laid at his door.
Counterparties like Goldman Sachs, knowing it could use the bankruptcy laws to force AIG to sell high quality assets to pay off its gambling debts, played them like a Vegas card sharp never losing a minute of sleep worrying that the rube might go broke.
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But as a matter of simple arithmetic, if the banks don't lose and Greece gains, there must be an additional subsidy in there somewhere from eurozone governments, either in the "high-quality assets" provided as a back up or, possibly, the promise of preferential treatment for these new bonds in the event of a default.
At these scales mismatches between the quality of assets and liabilities equals billions of dollars of value when interest rates move.
Davis discovered that beneath Reed Elsevier's warring senior management stood high-quality publishing assets--what they needed was more urgency on the marketing side.
Which is that they define cash, central bank reserves and some marketable securities backed by sovereigns and central banks as the highest quality liquid assets.
In regards to leverage, Basel III introduced a minimum 3% leverage ratio and two required liquidity ratios: (1) the Liquidity Coverage Ratio, which requires a bank to hold high-quality liquid assets to cover its total net cash outflows over 30 days, and (2) the Net Stable Funding Ratio, which requires the available amount of stable funding to exceed the required amount of stable funding over a one-year period of extended stress.
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When trading is tough, the quality of those assets not supported by advertising becomes even more critical.
This month, however, dozens of auctions have failed as investors have questioned the quality of the assets on offer.
But some bankers even allege that bureaucrats and regulators seem willing to help banks fudge the declining quality of their assets.
They are still gun-shy about borrowers with poor credit quality and weak assets, but they are very intent on lending to strong borrowers with good properties as collateral.
The IMF also published an update to its Global Financial Stability Report said that risks to financial stability in the banking sector had increased in the second quarter of this year because of the continued slow global recovery and fears about the quality of bank assets in Europe.
Mr. Gross's portfolio has been heavily concentrated on high-quality U.S. assets this year, led by mortgage-backed securities and Treasury bonds.
Assets, credit quality, and profitability all declined (see chart).
However, so long as these banks retain assets of sufficient quality, they can continue to claim to be viable, or at least potentially viable - even if they are only alive because of credit they've received from the European Central Bank, for example, or from their national central banks.
But given the poor quality of most small banks' assets and management, who will be interested in them?
Another of its recommendations is that banks must have a buffer to absorb the impact of potential losses or future financial crises - of at least 10% of domestic retail assets in top-quality form, such as shares or retained earnings.
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