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Captain -- You Do See That Blinking Light, Don't You?
An apocryphal story about an unnamed navy captain goes like this. The ship in question is sailing at a not insignificant clip on a very overcast night close to shore in preparation for docking. A number of sailors who are above deck see a blinking light in the distance that clearly -- to them -- appears to be a lighthouse. The captain, however, gives no orders either to slow or turn the boat. Each of the sailors thinks that perhaps he should ask the captain if he does indeed see what is becoming with each passing minute ever more clearly the lighthouse. But each in turn says to himself: "He's the captain. He must see the light. He'll make sure that we don't run aground." And then there is the terrible sound of the bow of the ship…
Amy, D. (2007). Government is good. http://governmentisgood.com/articles.php?aid=15&print=1 .
Davidoff, S. (June 11, 2010). The Government's Elite and Regulatory Capture. The New York Times.
Frank, T. (June 24, 2010). Obama and 'Regulatory Capture'. The Wall Street Journal.
Levin, C. (2011). Wall Street and the Financial Collapse.
Banking Fees and Morality
The Legal, Moral, and Social Responsibility of the Government, the Banks, and the Consumers
Statement of Relevant Legal Principles and Rules of Law
Application of Law to Topic and Legal Analysis
Utilitarian Ethical Analysis
Kantian Ethical Analysis
Additional Ethical Analysis
Social Responsibility Section
Introduction to B. Definition of term "Social Responsibility"
Application of Social Responsibility
Banking fees in one form or another have existed in the United States hundreds of years, however the degree of regulation on the bank fees has varied over time. Regardless of whether banking fees are being regulated liberally or conservatively, legal, ethical, and social responsibility questions arise. This three value approach assists in analyzing which of the three parties -- the government, the banks, or the consumers -- owe which duty regarding the functionality of the banking fee system. Arguably, all three parties owe a…
The American Heritage Dictionary, 3rd Ed. (1993). Boston Massachusetts: Houghton Mifflin
Cavico, Frank J. And Mujtaba, B.G. (2010). Business ethics: The moral foundation of effective leadership, management, and entrepreneurship, 2nd Ed. Boston, Massachusetts:
Pearson Custom Publishing.
Published out of Ohio State University, the journal is dedicated to "reporting major findings in the study of monetary and fiscal policy, credit markets, money and banking, portfolio management, and related subjects" (Cato 1996). The breadth of this journal's coverage ensures its continued relevance, and not only the wide readership but the large number of submissions the journal receives -- which allows its editors to choose carefully from among them -- adds to the reliability of this journal (Cato 1996).
The level of academic scholarship evident in the articles that make up a standard issue of the Journal of Money, Credit, and Banking is also evidence of the source's authority and reliability. Historical trends as well as theoretical prognoses appear with equal regularity, as do explanations and examinations of policy and regulation changes. The scope of this journal does more than simply ensure its relevance; it also evidences the wide…
Cato Institute. "Review: Journal of Money, Credit, and Banking." 1996. Cato Institute Official Website. Accessed 24 September 2009. http://www.cato.org/pubs/journal/cj16n3/cj16n3-11.pdf
Feig, Nancy and Bruno-Britz, Maria. "Shaping the Future: Some Notable Industry Movers and Shakers with Opportunities to Make a Difference in the Banking Technology World." Bank Systems and Technology, 1 December 2007.
JMUL. "Business Source Complete (EBSCO)." James Madison University Library. Accessed 24 September 2009. http://www.lib.jmu.edu/resources/more.aspx?id=1629&s=1
Langfit, Frank. "Economist' Magazine Wins American Readers." National Public Radio: Morning Edition, 8 March 2006. Text version accessed 24 September 2009. http://www.npr.org/templates/story/story.php?storyId=5250996
The banking industry, over the last decade has undergone significant change. Industry regulation such as Dodd-Frank, Basel 3, and international capital requirements have now made the industry safer and more transparent. However, due primarily to the crisis of 2008, some banks are more stable than others. In many instance, due to unethical practices of the past, many banks are now suffering as they struggle to attract market share and consumer acceptance.
To begin, let's start by dispelling many myths associated with Bank of America. First, the bank did not single-handedly start the financial crisis as many pundits believe. They much like many of the other large banks did have a part in the crisis. However, they were not the sole owners of the problems that resulted from it. This is an important distinction as Bank of America's market valuation and profitability have been significantly effected by perception rather…
1) Hector, Gary (1988). Breaking the Bank: The Decline of BankAmerica. Boston: Little, Brown. ISBN 0-316-35392-2.
2) Johnston, Moira (1990). Roller Coaster: The Bank of America and the Future of American Banking. New York: Ticknor & Fields
3) Author Unknown. (2008). Subprime Crisis: A Timeline. (online). Available: http://money.cnn.com/2008/09/15/news/economy/subprime_timeline/index.htm (April 23, 2011)
4) Eads, Jim. Mobile Banking ROI Tips from Bank of America." Mobile Manifesto. Web. 05 May 2011. .
Banking Budget Analysis
Opportunity Bank Budget Analysis
Opportunity Bank is a convenient store for other professional banks. Essentially, it takes the stance that all people reserve the right to bank as they please and deserve an opportunity to do. This then provides them a greater sense of opportunity for each and every individual that walks in the doors. Opportunity Bank helps provide credit to those most in need, and thus believes that credit is a human right. This then provides the sensibility needed for Opportunity Bank to provide the benefits it does to its customers, including unbiased financing and the additionally benefits provided to the customer's family. Yet, opening a bank is a costly endeavor. In fact, research shows that it could amount around to $2 million within the first three years of the banks operations (Bancology 2013 1). Thus, planning carefully for costs is essential for the success of…
Bancology. "Average Branch Costs Now Exceed 2m." The Art of Bank Planning. Vol. 18. 2006. Web. http://www.bancography.com/downloads/Bancology0306.pdf
Bancology. "Smaller Branch Models Taking Hold as Traditional Branch Costs Remain Near $2M." Bancrography. Vol. 47. 2013. Web. http://www.bancography.com/downloads/Bancology0713.pdf
Capital Corp Merchant Banking. "Project Financing and Tailored Funding Solutions in One Firm." Funding. 2013. Web. http://www.capitalcorpmerchantbanking.com/home.html
C-Metrix Solutions. "Branch Marketing Solutions for Banks." Sigillum Corporation. 2009. Web. http://www.c-metrix.com/C-Metrix%20Branch%20Mktg%20Banking.pdf
This indicates that the Australian system has sufficient regulatory oversight to keep high-risk obligations to a minimum.
Despite being well-positioned from the outset, Australian banks remain saddled with some toxic assets (worthless MBSs and securities backed by insolvent financial institutions). Moreover, they found themselves at a competitive disadvantage. hen foreign banks received government backing, their credit rating improved to the level of government securities. This resulted in a disadvantage to Australian banks. Thus, they petitioned for government assistance in order to remain globally competitive (Grubel & Bathgate, 2008).
The financial crisis of the early 1990s instilled strong risk management principles in Australia's banks, which has led to their insulation. Nevertheless, faced with exposure to bad assets, the banks have been forced to cut costs in order to better weather the storm. It is estimated that the banking sector will shed around 10,000 jobs this year (Insead, 2008). Other cost-cutting measures…
Knowledge @ Wharton: Subprime Crisis website. Retrieved April 28, 2009 from http://knowledge.wharton.upenn.edu/special_sections/subprime/
Johnston, Eric. (2008). Australia hit as Crisis Grows. The Age. Retrieved April 28, 2009 fromhttp://business.theage.com.au/business/australia-hit-as-crisis-grows-20080916-4hy6.html
Leslie, Tim. (2009). Australia to emerge from crisis 'stronger than before'. ABC News. Retrieved April 28, 2009 from http://www.abc.net.au/news/stories/2009/03/29/2529118.htm
No author. (2008). Canada rated world's soundest banking system. Reuters. Retrieved April 28, 2009 from http://www.reuters.com/article/ousiv/idUSTRE4981X220081009
Would the challenges when an insurance firm acquires an investment bank be the same as the challenges encountered in melding organizations when a commercial bank acquires an investment bank? Why? Give sample of successful merging and acquisition of each case. Give any global economic event or any international banking event that relate to the case.
Commercial banks have an extraordinarily difficult time when trying to merge investment banks to their enterprise. In fact, some observers state that mergence is impossible since they share different cultures.
With the repeal of the Glass-Stiegel Act in 1999, security banks and investment companies were allowed to purchase banks. However, mergence of commercial banks with investment banks have stymied expected synergy.
his may be due to the fact that investment banks are relatively good at risk tolerance for the main reason that they are not financial intermediaries in that they take out and distribute…
They Just Do Not Mix
Macey JR (2002). INTEGRATION OF FINANCIAL SERVICES AIDA XI World Congress www.aida.org.uk/worldcongress02/theme2_generalreport.doc
Final rules will determine the effective date. In response to a request by ABA and other trade associations, on November 24, 2004, the banking agencies and the Federal Trade Commission wrote that institutions do not have to comply with those FACTA provisions which must be implemented by rulemaking until after adoption of final rules. Those provisions include those related to: risk-based pricing notices; affiliate marketing; medical information sharing; red flag guidelines and regulations; notice of opt out from prescreened solicitations; disposal of consumer report information; accuracy and integrity guidelines and regulations; ability of consumer to dispute information with furnisher); and reconciling addresses.
The FACTA requires mortgage lenders to provide credit scores along with other information to mortgage loan applicants. The credit score and other information must be provided when a credit score is used for an application for a consumer loan that is secured by one to four…
DeLargy, K.P. (2004, June 15). Federal Reserve System, 12 CFR Part 222 (Regulation V; Docket No. R-1187), Fair Credit Reporting Act: Final rule. Federal Register, 69(114), 33,281.
Feddis, N.E. (2005), Fact is, FACTA is fractious: One act, many players, many regs, and sometimes no regs. FACTA isn't for the faint-hearted in compliance. ABA Banking Journal, 97(1), 57.
Interagency advance notice of proposed rulemaking: Procedures to enhance the accuracy and integrity of information furnished to consumer reporting agencies under section 312 of the Fair and Accurate Credit Transactions Act. (2006). Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); Federal Deposit Insurance Corporation (FDIC); Office of Thrift Supervision, Treasury (OTS); National Credit Union Administration (NCUA); and Federal Trade Commission (FTC). [Online]. Available: http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20060322a1.pdf .
Royal, L.E. (2004, June). Fair credit reporting act tweaked by Congress: Legislation gets a new name and a facelift. Black Enterprise, 34(11), 318.
From the rudimentary and often primitive approaches to dial-up banking in the 1980s and 1990s to the 24/7 rapid access of Internet banking accessible to customers from anywhere in the world in 2009, there continues to be a revolution of convenience solidly anchored in security taking hold (Wang, Wang, Lin, Tang, 2003). All of these benefits are also dominated by the fact that many banks now have guided selling systems online (Beasty, 2006) that make it possible for consumers and businesses to design their own unique financial services programs and made-to-order programs. Banking is entering a new era of personalization and exceptional security as more and more services once entirely completed in branches are now completed online. The concept of "cloud" computing or the development of Software-as-a-Service has made these services available on a 24/7 basis as many banks turn to this platform for hosting services (Orr, 2008). The risks…
Colin Beasty. (2006, September). RE: TOOLING. Customer Relationship Management, 10(9), 46.
Srinivasa Katuri & Monica Lam. (2007). Switching customers from branches to internet: A credit union's journey. Journal of Financial Services Marketing, 11(3), 229-248.
James L. McKenney, Richard O. Mason, & Duncan G. Copeland. (1997). Bank of America: The crest and trough of technological leadership. MIS Quarterly,
Banking and Finance Law
Are Customers Rights Really Protected?
For many of us, dealing with our banks is a daily occurance. With today's technology, most of us use money access machines and online banking as comfortably as we use our television sets our automobiles. But is our money truly protected? Most of us would say, without a doubt, that it was protected. In fact, most of us have not had major problems when it comes to dealing with our accounts. But, how does the undue influence that our financial institutions have over us shape how we invest our money? In 1996, a woman in London was awarded nearly 80,000 pounds after she and her boyfriend were given bad advice on a property deal by Lloyds Bank. ("Lloyds' Blunder Cost Woman Pounds 10,000 Pay") This is just one story in a string of stories of how banks use their influence to…
Banking Industry and Customer Researc
Given te competitive atmospere in banking and te need to interest and retain clients, banks rely strongly on client's satisfaction and customer loyalty. Tis is particularly so given today's slowing industry growt and tremendous pressure to maintain and old onto one's business. Traditional banks also today face competition from online banks tat can afford to offer customers attractive deposit products at low rates and tat provide attractive interest rates. Aside from tat, traditional banks face competition, too, from non-banks, suc as a Wal-Mart, tat open banks witin teir stores. For all tese reasons and more, te reputation and success of traditional banks directly inges on te extent to wic tey manage to retain teir client's services and please im to te extent tat e will refer oters to te bank. Te better ten tat te bank knows teir individual clients and factors tat tey seek…
Xerox: How do you talk to your customers?
Bank of America Corporation Analysis
The Bank of America-Financial and Competitive Analysis
Background of the Bank of America
The Bank of America Corporation (BAC) is a Public Company that provides multinational banking services and other specified financial services. The bank was conceptualized in 1998, with its headquarters in North Carolina; U.S.A. according to asset valuation, the company comes second in the States, and serves over 100 states. The corporation also has many relations and partners with other multinational and local companies in the U.S. The international company was ranked fifth in the United States, after total revenue assessment for big corporations in the U.S. It is also the third largest organization in the entire globe. With tough competition from Wells Fargo and Citigroup, Bank of America still Manages to hold 12% of the bank accounts in America. For BAC, the main services and products include consumer banking services,…
Bank of America, (2012). United States Commercial Banking. Company Profiles, 1, 36-51.
Goldsmith, M. & Carter, L. (2009). Best Practices in Talent Management: How the World's Leading Corporations Manage, Develop and Retain Top Talent. Hoboken, NJ: John Wiley and Sons.
International Business Times. (2012). Pre-Market Movers (Coca Cola, Bank of America, Dean Foods, General Electric, Citigroup, JP Morgan Chase and Facebook). Regional Business News, 2012.
Larson, P. & Ganesh, R. (2007). Bank of America (BAC). MorningStar StockInvestor, 7(1), 24-25.
Earning flatness does not suggest that banks are taking on undue risk. Certainly a category such as realized securities gains or losses should have made a dramatic change if there was increased risk (volatility) in the banking system. Provisioning expenses were reduced at all banks, which can either be seen as risky behavior or a reflection of higher quality credit portfolios. The reduction in expenses is cited in the report as one of the risks, as banks seek better efficiency but take on more risk to achieve it. Another potentially risky revenue stream comes from trading. Trading income increased but the report notes that the European economic issues have reduced the risk appetite of many banks, again refuting the idea that banks are taking on excess risk in search of higher profits. The one big example at J.P. Morgan of excess risk-taking (Henry & Viswanatha, 2012) does not appear to…
Henry, D. & Viswanatha, a. (2012). U.S. investigates whether JP Morgan traders hid losses. Reuters. Retrieved November 29, 2012 from http://www.reuters.com/article/2012/07/13/us-jpmorgan-earnings-idUSBRE86C0G420120713
OCC. (2012). Semiannual risk perspective. U.S. Department of the Treasury. Retrieved November 29, 2012 from http://www.occ.gov/publications/publications-by-type/other-publications-reports/semiannual-risk-perspective/semiannual-risk-perspective-spring-2012.pdf
Not only does the banking concept of education create and maintain an opposition between teacher and student; it also assumes a distinction between human consciousness and external reality. Freire suggests that the practice of "filling" students with knowledge implies that all experience and external phenomena "enter" humans in the same manner, though the idea that data and other intellectual products can "enter" a mind does not necessarily mean that other phenomena reside "in" a person in the same way.
Freire wraps up his argument by claiming that the banking method of teaching
"serves to obviate thinking" (para.14). He does not consider the possibility that thinking on the part of the student can happen naturally, even if not instigated by the teacher. Instead, he insists that "authentic thinking…does not take place in ivory tower isolation, but only in communication" (para.16). While it is true that his banking system of education…
Freire, Paolo. "The Banking Concept of Education." Pedagogy of the Oppressed. Trans. Myra Bergman Ramos. New York: Continuum, 1993. Print.
Such a strategy allows banks to reduce the cost associated with paper check conversion (Bruno, 2002). In addition this strategy reduces the number of fraudulent checks that are written (Bruno, 2002). The author also insist that this strategy may lull some customers into actually using debit cards or check cards at the point of sale, as opposed to using traditional checks (Bruno, 2002).
Indeed automation will be an important part of banking well into the future. An article found in Community Banker asserts that automation is key because it allows for the electronic transmission of checks. In addition, many banks are using automation for electronic signatures which will allow for loans and other financial services to be implemented over the internet. According to the author this automation also improves workflow and performance because it is more streamline and therefore less confusing.
The article contends that the aim of this automation…
Automation is the Answer at T. Bank," 2005. Community Banker
Bowman M.A. Exploring Domestic Mail RatesMekel's & Stamps Magazine
Bruno, M. 2002. Banks Bent on Plastic over Paper. U.S. BAnker
Chakravorti, S., & Mchugh, T. (2002). Why Do We Use So Many Checks?. Economic Perspectives, 26(3), 44+.
S. government is limping along. Across the Atlantic, the fallout from the crisis has been even worse. Greece is broke. Ireland is broke. And Spain looks like it's about to go broke. Ireland suffered because, because after having implementing the euro, its interest rates were positioned by a European central bank more familiar with French needs than Irish ones. Ireland's financial system including its tax cuts and public service bloat came to depend on a housing boom caused by those histrionically low rates, but in the end the boom collapsed (Berg, 2010).
Inflation is currently around ten percent and appears to be going much higher over the next few years. Everyone knows that inflation harms stock and bond returns. And for customers, inflation affects them because of the higher prices of goods and services without proportionate salary increases. Inflation also reduces the buying capability of savings. The Federal eserve is…
Berg, Chris. (2010). Taxpayers are the true victims of the global financial crisis. Retrieved January 9, 2011, from Business Times Web site:
Cecchetti, Stephen G. And O'Sullivan, Roisin 2002). The European Central Bank and the
Federal Reserve. Retrieved January 9, 2011, from Web site:
In the 1899 case of Austen v United States Bank 174, the Supreme Court defined a bank in the following words:
"A bank is an institution, usually incorporated with power to issue its promissory notes intended to circulate as money (known as bank notes); or to receive the money of others on general deposit, to form a joint fund that shall be used by the institution, for its own benefit, for one or more of the purposes of making temporary loans and discounts; of dealing in notes, foreign and domestic bills of exchange, coin, bullion, credits, and the remission of money; or with both these powers, and with the privileges, in addition to these basic powers, of receiving special deposits and making collections for the holders of negotiable paper, if the institution sees fit to engage in such business." (Austen v United States Bank 174, 1899)
In layman's terms,…
(2008). Retrieved from www.cnn.com: http://edition.cnn.com/2008/Business/09/15/lehman.merrill.stocks.turmoil/index.html
(2008). Retrieved from CNN Money: http://money.cnn.com/news/specials/storysupplement/bankbailout/
AG Commezbank. (2007). Retrieved from https://www.corporate-clients.commerzbank.com/en/metanavigation/files/2007_11_online-security.pdf
(1899). Austen v United States Bank 174. Supreme Court .
Banks can provide credit to help a consumer smooth out his or her cash flows. These functions allow consumers to make large purchases they otherwise would not be able to make. The benefit to this is that it improves the standard of living for most consumers to be able to protect their savings and make these purchases.
For business, banks are a valuable resource. hile most businesses have some form of current account that they can use to safeguard small amounts of capital, access to credit is a far more important consideration for business. For most businesses, expansion cannot be incremental, but in leaps and bounds. Such expansions are based on expectations of future cash flows, not present cash flows. This means that the business would not be able to expand without financing from the bank.
Banks also provide significant liquidity to the stock markets, in turn allowing for industry…
No author. (no date). History of Banking. Historyworld.net. Retrieved April 30, 2009 from http://www.historyworld.net/wrldhis/PlainTextHistories.asp?historyid=ac19
No author. (2009). Purpose of Banks. SparkNotes. Retrieved April 30, 2009 from http://www.sparknotes.com/economics/macro/banking/section1.html
No author. (2001). What is the Economic Function of a Bank? Federal Reserve Bank of San Francisco. Retrieved April 30, 2009 from http://www.frbsf.org/education/activities/drecon/2001/0107.html
Marquis, Milton. (2001). What is Different about Banks -- Still? Federal Reserve Bank of San Francisco. Retrieved April 30, 2009 from http://www.frbsf.org/publications/economics/letter/2001/el2001-09.html
anking Concept of Education by Paulo Freire defines and discusses an element of education which Friere believes many teachers employ within their instruction. He develops an argument that this particular method of teaching is responsible for ignorance within students and ultimately oppression of said students.
Friere explains that the "banking concept" is when students are treated as if they are nothing more than storage banks. They are provided with information which they then store in their memories so that they might regurgitate the information at a later date. Students are taught to accept everything the teacher says as true, they are not taught to question or to think creatively about the subject at hand. The student who is brought up in this environment becomes a passive member of society.
Friere takes the "banking concept" further in stating that those in power would prefer not to have creative and educated people…
Sparks, John. "Outline of Paulo Freire's Essay." The Banking Concept of Education. http://people.clemson.edu/~mbrando/freire/outline.html
Financial Crimes, Fraud, and Investigation
The banking sector is a critical part of a country’s economy. This is more so the case given that it is actively involved in the holding as well as management of diverse financial assets and the coordination of financial activities for the various other economic sectors. Although at the core of banking is holding of financial assets, other key activities include, but they are not limited to, commercial and personal banking services, insurance, etc. In that regard, therefore, banks happen to be one of the most sensitive sectors in an economy. Bank managers have a responsibility to ensure that all the regulatory standards are observed. Further, they also have a responsibility to ensure that the interests of various stakeholders in the banking sector are secured. The key stakeholders, from the perspective of a bank institution are inclusive of the government and the various regulatory agencies,…
The American banking system was in crisis from late 2007 through to early 2009. The subprime mortgage crisis had left many banks with large amounts of so-called "toxic assets" on their books, mainly in the form of subprime mortgages and mortgage-backed securities that were now under water. The mortgage-backed securities were one of the biggest problems, because they were presented as being of investment grade, which did not align with their risk characteristics. For a time shortly after Washington Mutual failed, there was concern that the banking system was at risk of failure. Invoking the doctrine of "too big to fail," the Bush Administration responded with the Toxic Assets elief Program, or TAP, wherein the federal government bought back some of the worst assets from the banks in order to stabilize their banking systems.
Since that point, the U.S. economy has recovered, albeit slowly. The stock market recovery…
Corbat, M. (2014). Letter to shareholders. Citigroup. Retrieved November 16, 2015 from https://www.citigroup.com/citi/investor/quarterly/2015/annual-report/
FOMC (2015). Monetary policy release. Federal Open Market Committee. Retrieved November 16, 2015 from http://www.federalreserve.gov/newsevents/press/monetary/20150917a.htm
Isfeld, G. (2012). IMF: Canada banks avoid global banking crisis thanks to regulation. Financial Post. Retrieved November 16, 2015 from http://business.financialpost.com/news/fp-street/canadas-banks-shake-off-global-sector-crisis
Jones, K. & Critchfield, T. (2006). Consolidation in the U.S. banking industry: Is the long, strange trip about to end? FDIC. Retrieved November 16, 2015 from https://www.fdic.gov/bank/analytical/banking/2006jan/article2/article2.pdf
customer service as adopted in the U.S. And China. It has 5 sources.
In layman's terminology customer service could be defined as the way an organization keeps its customers happy. However, in reality, this is different and more complex as one go into the depth of the definition of customer service. For some customer service is about keeping the customer informed while for others it is about assisting the customer when they want and the way they want it; and yet there are others who consider customer service is the all encompassing service that organizations provide to clients as they demand it. These perceived concepts of customer service although not wrong but does not actually define it in its true essence per se. The reason is intrinsically linked with why customer service is needed and what importance does it hold in our daily lives.
Customer service according to the researcher…
Earley, P.C. And Erez, M. . The Transplanted Executive: Why You Need to Understand How Workers in Other Countries See the World Differently. New York: Oxford Univ. Press.
Schneider and Bowen . "Winning the Service Game" from Building a Winning Service Organization.
Gabriel, S.J. . Is Banking Reform in China Still on Track? Essay No. 11, November Issue at http://www.mtholyoke.edu/courses/sgabriel/economics/china-essays/11.html
Clifford, ML and Balfour, F. . Business Week International Editions: Asian Business: Chinese Banks: OPEN SEASON., Business Week, pp 22.
Module 4 discusses the changes to the US banking industry that occurred during the 1990s and into the early 2000s. These were the first major changes in decades. The prior major change was the introduction of the Glass-Steagall Act in the 1930s, and the changes discussed in the module essentially undid much of that act.
One of the key elements in Glass-Steagall was the separation of investment banking and commercial banking activities (Heakal, 2015). One of the reasons for this separation was that investment banking was inherently more speculative, and there was a recognition following the 1929 stock market crash that even if investment banking suffered significant volatility, the nation's economy relies on having a stable commercial banking environment. Olson (2002) noted that the 1999 Gramm-Leach-Billey Act basically dismantled Glass Steagall.
One of the other key things that Glass Steagall prevented was investment bank speculation in commercial activities, such as…
CFtech.com (1998). Understanding how Glass-Steagall Act impacts investment banking and the role of commercial banks. CFTech.com. Retrieved October 28, 2017 from http://www.cftech.com/index.php/the-brainbank-archive/special-reports/404-understanding-how-glass-steagall-act-impacts-investment-banking-and-the-role-of-commercial-banks
Heakall, R. (2015) What was the Glass-Steagall Act? Investopedia. Retrieved October 28, 2017 from http://www.investopedia.com/articles/03/071603.asp
Olson, (2002) Remarks by Governor Olson. Federal Reserve Bank of St. Louis. Retrieved October 28, 2017 from
Blockchain technology is an innovative addition to the financial market. What began as a brainchild by the people or person known as ‘Satoshi Nakamoto’, blockchain technology has evolved and become something far greater than most would have imagined. Blockchain technology allows for digital data to be distributed (not copied), allowing for it to become the foundation for a new kind of internet. Businesses have used the technology to implement the use of digital currency like Bitcoin and promote growth of blockchain companies. Some of these successful blockchain companies are: Aeternity, Bitfury, DFINITY, ContentKid, and Blockphase. These companies represent the future of blockchain technology and how far it will go.
Background: What is Block-Chain Technology?
A recent innovation within the financial world, the mastermind behind blockchain technology is ‘Satoshi Nakamoto’. He is the pseudonym for a person or a group of responsible for developing, authoring, making, and deploying bitcoin, bitcoin…
They could not foresee the housing market falling as it did, and the number of foreclosures it would create, and so, they aggressively continued to pursue the market when they should have been cutting back. The top executives left the company, but they were not fired, in fact, Killinger retired, comfortably it would seem. The customers of the bank, especially those with mortgages, are the ones who really will suffer in the long-term. The bank will rebound, but those with foreclosed homes never got the chance for a bailout, and so, they lost everything, while the executives and leaders of the bank are not charged with any wrongdoing. Luckily, the American taxpayers did not suffer, either, because JP Morgan Chase financed the takeover and the continuing operations of the bank.
In conclusion, WaMu's failure came about due to a number of reasons. They invested far too heavily in the sub-prime…
Adler, Joe, and Hopkins, Cheyenne. "FDIC's 'Big One': Long Prelude Gave Way to a Sudden End." American Banker, 29 Sept. 2008, Vol. 173, Issue 188.
Cocheo, Steve. "Kerry Killinger Builds His Dream Bank." ABA Banking Journal 93.8 (2001): 22.
Editors. "Washington Mutual, Inc." New York Times. 27 Sept. 2008. Business, 1.
Ivy, Bob and Shen, Linda. "Washington Mutual Hobbled by Increasing Defaults on Option ARMs." Bloomberg.com. 15 Sept. 2008. 11 Dec. 2008. http://www.bloomberg.com/apps/news?pid=20601087&sid=aNSwdt57nTBI&refer=home
The definition of usury has evolved over time. The basic premise is that a lender charges a rate of interest that is too high. Today, the standard for usury is defined in law, but initially the practice had no formal definition. Usury was traditionally banned in Christian society, has been criticized in Indian texts, and remains banned in Islamic society. Islamic banking, for example, requires that the lender either earn money from fees, or more commonly the lender exchanges the financing for an equity share, so profit-sharing, as a means of earning money without charging interest (IIBI, 2015)
During the time of King Henry VIII, usury was defined as charging interest. The idea of paying interest was new at the time, as a means of compensating the lender for the risk associated with lending. Interest, however, was not a common concept at least in England before this time. As…
IIBI (2015). Islamic banking. Institute of Islamic Banking and Insurance. Retrieved December 2, 2015 from http://www.islamic-banking.com/prohibition_of_interest.aspx
Investopedia (2015). Definition of usury. Investopedia. Retrieved December 2, 2015 from http://www.investopedia.com/terms/u/usury.asp
Perry, M. & Schweitzer, F. (2002) Antisemitism: Myth and hate from antiquity to the present. Palgrave MacMillan: New York.
Cyber Attacks on Financial Institutions
The finance industry has continued to receive more targeted and sophisticated cyber attacks from criminals. These criminals often email phishing campaigns to customers which have remained the most successful methods of targeting financial institutions. New innovations in banking, like online and mobile banking, have continued to create new vulnerabilities for cyber thieves. To minimize the efficiency of these attacks, banks have devised improved communication and educational tools for customers, and procedures for quick interventions in the event of an actual attack. However, beyond simply creating harmful software intended to hack online bank details, criminals have found ways to subvert the software and servers owned by prestigious financial institutions to make their phishing campaigns more effective; this technique is known as infrastructure hijacking (Pettersson, 2012).
In 1998, one of the foremost examples of infrastructure hijacking ever discovered is known as The Morris worm. This…
Cordle, I. P. (2014, August 7). TotalBank responds to computer security breach, Miami Herald. Retrieved from http://www.miamiherald.com/news/business/article1978822.html Comment by dkamari: are all of these cited in your paper? If not, do not list them.
Mossburg, E. (2015). A Deeper Look at the Financial Impact of Cyber Attacks. Financial Executive, 31(3), 77-80. Retrieved from http://eds.a.ebscohost.com.ezproxy.umuc.edu/
Crossman, P. (2015, March 5). Is Apple Pay a Fraud Magnet? Only If Banks Drop the Ball. Retrieved from American Banker: http://www.americanbanker.com/news/bank-technology/is-apple-pay-a-fraud-magnet-only-if-banks-drop-the-ball-107312
Dean, B. (2015, March 4). Why companies have little incentive to invest in cybersecurity. Retrieved February 18, 2016, from http://theconversation.com/why-companies-have-little-incentive-to-invest-in-cybersecurity-37570
The service fee banking model is the most appealing to me, and frankly, I believe it is a model that is long overdue, an opinion that I will explain further later in this communication. A quick review of egulation CC, Availability of Funds and Collection of Checks, leads me to believe that financial institutions have more leeway in customer transactions than is appropriate. Moreover, I believe that egulation CC, while perhaps appropriately structured, is poorly implemented. That is to say that egulation CC is designed to protect financial institutions from unnecessary risk generated by individual banking customers. On a customer to customer basis, the risks management provisions of egulation CC seem excessive; it is only when one considers the absolute numbers of transactions that could conceivably fall into the egulation CC categories that an appreciation develops for the potential risk that egulation CC has the capacity to protect…
Bharath, S., Dahiya, S., Saunders, A., & Srinivasan, A. (2007). So what do I get? The bank's view of lending relationships. Journal of Financial Economics, 85, 368-419. Retreived from http://www18.georgetown.edu/data/people/sd/publication-7506.pdf
White, M.C. (2013, February 8). Online banking: more site outages and cyberattacks coming? Time. Retreived from http://business.time.com/2013/02/08/online-banking-more-site-outages-and-cyberattacks-coming/
Zein, A., Suryanarayanan, S., Dillon, D., & Weston, D. (2013, September 9). Shifting retail bank pricing models: Managing the transition to unbundled services. Deloitte University Press. Deloitte Center for Financial Services. Retreived from http://dupress.com/articles/shifting-retail-bank-pricing-models-managing-the-transition-to-unbundled-services/
Opportunities to Improve elationship Banking at Al ajhi Bank
In an increasingly globalized and competitive marketplace, many banking professionals today are faced with the need to develop informed and timely responses to changes in consumer demand, as well as fluctuations in the global economy that can have a positive or negative effect on investments. In affluent nations, this need has become especially pronounced as billion-dollar deals are routinely involved, and bankers working relationship banking operations stand to assist banks in attracting and retaining wealthy private and highly fluid commercial enterprises as long-term clientele. The enormous amounts of money that are involved make it important to formulate such responses in ways that add value to the banking operation including providing a competitive advantage. In some banks, relationship banking at this level is termed "privilege banking" or "prime account management," but the common feature of these business units is targeting high net…
About Us. (2012). Al Rajhi Bank. Retrieved from http://www.alrajhibank.com.my/corporate_
Constantinides, G.M., Harris, M. & Stulz, R.M. (2003). Handbook of the economics of finance.
UK anking Services
Use Michael Porter' diamond model to determine the specific sources of national competitiveness that have boosted/hindered the success of UK banking product/service's?
Related and supporting industries
Firm strategy, structure, and rivalry
Suppose you were the international marketing manager of a UK bank, what would you recommend to your government on how it could boost the elements of competitiveness?
Expanse in the market
Study of the mechanisms of production
Influencing merger options within the diverse market
Appreciating change in the organization
Discuss which international trade theory best explains the pattern of international trade development in UK banking and why
anking is a lucrative activity that must be understood to have varying avenues of performance in the world. The UK anking services organization has an expanse of services that have been beneficial to many businesses and monetary exemplifications in…
Buckle, M., & Thompson, J. (2004). The UK financial system: theory and practice.
Manchester [u.a.], Manchester Univ. Press.
Great Britain. (2011). The Government response to the Independent Commission on Banking.
London, Stationery Office.
shadow banking system, its role in the subprime mortgage crisis, and failures of regulation within the shadow banking system. The term "shadow banking system" was coined by PIMCO's Paul McCulley in 2007 (Spanos, 2012) and refers to a banking system that includes financial intermediaries that are involved in creating credit across the global financial system, whose functions are not subject to regulatory oversight (Investopedia, 2012). The question has been debated as to whether shadow banking meets the definition of true banking. Given that the two systems perform similar functions, including credit intermediation and maturity transformation, the two should be considered parallel systems (Noeth and Sengupta, 2011).
The term shadow banking is used to describe any provision of credit taking place outside of the traditional deposit-funded lending system. This definition includes institutions that range from pawnbrokers and consumer finance companies to securities dealers as well as firms that issue corporate bonds.…
Armstrong, R., 2010. Q+A -- Regulating the shadow banking system. Fox Business. [online] Available at: [Accessed 20 April 2012].
Beckworth, D., 2010. "Deposit insurance" for the shadow banking system. [online] Available at: [Accessed 20 April 2012].
Drum, K., 2012. The shadow banking system speaks: It's not time for austerity yet. MotherJones. [online] Available at: [Accessed 20 April 2012].
Hsu, J. And Moroz, M., 2009. Shadow banks and the financial crisis of 2007-2008. Research Affiliates LLC. [online] Available at: [Accessed 20 April 2012].
Diversification of anking Returns Through
Greater Share of Non-Interest
Income and Off-alance Sheet Activities
The banking system was considered to be stable before the great financial crisis of 2007. The banking system faced the worst turmoil during that period due to the evolution of the nature of banking activities. anks started to employ diversify their sources of income. efore 2007, the one and only function of banks was to take deposits and lend money. Diversification of banking returns included many off-balance sheet activities and non-interest incomes into the features of the banks. The extra features are collectively known as shadow banking because of the lack of transparency in it. These activities increased the borrowing and lending and eventually, everyone was in a financial turmoil.
"The advent of shadow banking has fundamentally altered the nature of banking. Where once banks weremainly in the traditional business of taking deposits and making loans,…
Calmes, Christian, & Theoret, Raymond. "Bank Systemic Risk and the Business Cycle: Canadian and U.S. Evidence." Paper presented at Annual Conference of SocieteCanadienne de Science Economique, Canada, April 27, 2011.
Calmes, Christian and Raymond Theoret. "Financial Services."Lifting the Veil: Regulation and Shadow Banking (2011): 1-6.
Calmes, Christian, & Theoret, Raymond. "The Rise of Shadow Banking and the Hidden Benefits of Diversification." Paper presented at C.D. Howe Institute Conference, Canada, April 2011.
John. H, Boyd and Gertler Mark. "Are Banks Dead? Or Are The Reports Greatly Exaggerated." NBER Working Paper Series (1995): 2-7.
Shadow Banking on the International Level
A definition of international shadow banking
International shadow banking is a term that originated from pre-recessionary period in 2007 and was popularised in pose recession period. The term invited the attention of financial experts and researchers towards the emergence of non-banking entities playing banking role. Hence, the Financial Stability Board (FSB) formally identified their existence and role by defining the term shadow banking system (Pozsar et al., 2012).
It regarded non-banking entities as intermediaries in the financial system but external to the banking system. It is not only because they perform banking activities, but also because they perform certain other activities which are not part of the banking system. The definition was considered as valid and readily accepted (Pozsar et al., 2012).
No objection was raised upon the point that there are certain entities which are not banks but playing an active role in…
Pozsar, Z. et al. (2012). Shadow Banking. Federal Reserve Bank of New York, Staff Reports. Taken from: http://www.newyorkfed.org/research/staff_reports/sr458.pdf
FSB. (2012a). Strengthening Oversight and Regulation of Shadow Banking: A Policy Framework for Addressing Shadow Banking Risks in Securities Lending and Repos. Taken from: http://www.financialstabilityboard.org/publications/r_121118b.pdf
FSB. (2012b). FSB Publishes Initial Integrated Set of Recommendations to Strengthen Oversight and Regulation of Shadow Banking. Taken from: http://www.financialstabilityboard.org/press/pr_121118.pdf
FSB. (2012c). FSB Publishes Initial Integrated Set of Recommendations to Strengthen Oversight and Regulation of Shadow Banking. Taken from: http://www.financialstabilityboard.org/publications/r_121118c.pdf
Online banking, the ability to conduct banking transactions on the Web, is revolutionizing the way that consumers bank. ehind this transformation is information technology. With its use, banks have been able to scale and secure transactions, provide the same and often more functionality than brick-and-mortar banks and evolve from mass marketing to one-to-one marketing.
The popularity of online banking is soaring with more than fifty million adults banking online in the United States as of November, 2004, an increase of forty-seven percent during the past two years (Sullivan, 2005). It is the fastest-growing Internet activity. Home broadband connections are credited with driving consumer adoption. Those with broadband access are about twice as likely to have tried online banking as users with dial-up connections because broadband encourages users to do more activities online. Demographic characteristics of those more likely to have broadband access include consumers between the ages of…
Fields, J.(2001, September). CRM and financial Services: like money in the bank. CRM Magazine. Retrieved February 14, 2005 from Web site: http://www.destinationcrm.com/articles/default.asp?ArticleID=1043
Hoffman, K.E.(2003, March/April). Beyond the firewalls. BAI Banking Strategies. Retrieved February 14, 2005 from Web site: http://www.bai.org/bankingstrategies/2003-mar-apr/beyond/print.asp
Katz, I. (2005, February 5). Online banking victim files suit; $90,000 lifted from account traced to Latvia. Sun-Sentinel. Retrieved February 14, 2005 from Web site: http://www.sun-sentinel.com/news/local/southflorida/sfl-zlopez05feb05,0,7861225.story?coll=sfla-home-headlines
Miranda, A.L. (2002, June 21). Information technology in financial services. Retrieved February 14, 2005 from Web site: http://strategis.ic.gc.ca/epic/internet/inimr-ri.nsf/fr/gr111851f.html
CS in Saudi Arabian Banking
Social esponsibility: Attitudes, Actualities, and Possible Areas of Advancement in Saudi Arabian Banking
The global financial system has become increasingly smaller and more complex, with individual countries and their financial and banking infrastructures more intertwined and mutually dependent on each other. Because of this, understanding the role that banking systems and entities play in the social and political spheres is essential for policy makers and for individuals working in the banking sector. Of special importance are the social responsibilities that are borne by banks and the banking industry, which can vary greatly from country to country, based on a multitude of factors. The research described and proposed herein will yield a greater understanding of how these responsibilities are viewed by bankers in Saudi Arabia.
Scholarship on Saudi Arabia's banking industry has focused almost entirely on the financial implications for the country and the globe of…
Babbie, E. (2009). The practice of social research Mason, OH: Cengage.
Breakwell, G. (2006). Research methods in psychology Thousand Oaks, CA: Sage.
Butters, A. (2009) "Saudi's small steps" Time 174(15), pp. 44-77
Campbell, J. (2007). "Why would corporations behave in socially responsible ways? An institutional theory of corporate social responsibility" Academy of Management Review 32(3), pp 946 -- 967
Another issue worth mentioning is that prior to the acquisition of 2007, the BB&T employees were already being offered training programs in convenience banking. The programs were basically revolving around the techniques which would be implemented by the organization. In this order of ideas, the most focus was placed on the De Le ue coin counting machine and the Datacard 150i instant issue debit card machine. Employees were taught how to operate, maintain, balance and audit the according operations. Emphasis was also placed on the elationship Bankers in reference to the new account bounding process including free gifts and the efer-a-Friend process. The improvement plan sees the continued training programs which teach staff members how to most efficiently operate the new systems and how to explain their benefits and functionality to the customers. Also, BB&T should remain channelled on the emergent changes affecting the market and the industry and should…
2009, BB&T Corporation, Hoovers, http://www.hoovers.com/bb&t/--ID__14758 -- /free-co-factsheet.xhtmllast accessed on February 9, 2009
2009, Website of the BB&T Corporation, http://www.bbt.com/last accessed on February 9, 2009
2007, InSite Communicating Within, BB&T Insite
Coastal Federal Bank Unveils the Carolina's Most Convenient Bank, PR Newswire
USAA Online Banking Analysis:
Assessment of Positive & negative Impacts & ecommendations
The USAA online banking system has been specifically designed to provide the financial institution's customers with reliable, secure and virtual access to their accounts and supporting banking transactions globally. Through the use of any Internet browser, USAA banking customers can quickly sign in, access and view account information, transfer funds, and set up and use automated payments for their personal and business-related bills. There are also a series of preferences which can be configured by customers to further tailor their online bank accounts to their specific needs. This is particularly useful for creating automated bill payment alerts and transactions to make sure bills are paid on or before the due date, new loan or savings accounts are securely created and managed, and enabling cash transfers to USAA and other financial institutions' accounts. One of the most…
Chong, A.Y., Keng-Boon Ooi, Lin, B., & Tan, B. (2010). Online banking adoption: An empirical analysis. The International Journal of Bank Marketing, 28(4), 267-287.
Claessens, J., Dem, V., De Cock, D., Preneel, B., & Vandewalle, J. (2002). On the security of Today's online electronic banking systems. Computers & Security, 21(3), 253-265.
Lim, N., Yeow, P.H.P., & Yuen, Y.Y. (2010). An online banking security framework and a cross-cultural comparison. Journal of Global Information Technology Management, 13(3), 39-62.
Mavri, M., & Ioannou, G. (2006). Consumers' perspectives on online banking services. International Journal of Consumer Studies, 30(6), 552.
190). The Act also helped to create a "too-big-to-fail" mindset (Walter, 2004) that would have profound implications during the economic downturn of 2008 and beyond.
Why did you include this piece of legislation in your list? The Act is described by Sammin (2004) as being "the biggest revision in financial services law since the Great Depression" (p. 653).
iegle-Neal Interstate Banking and Branching Efficiency Act of 1994
What were the problems/conditions giving rise to the legislation? apid consolidations among the nation's banks were creating the potential for diverting needed banking resources from communities (ose, 1997).
What were the major provisions of the Act? The iegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (hereinafter "the Act") contained the following major provisions:
A. Bank holding companies that are adequately capitalized and managed can acquire a bank anywhere in the United States one year after this law is enacted.…
Alexander, K., Dhumale, R. & Eatwell, J. (2006). Global governance of financial systems: The international regulation of systemic risk. New York: Oxford University Press.
Coustan, H., Leinicke, L.M., Rexroad, W.M. & Ostrosky, J.A. (2004). Sarbanes-Oxley: What it means to the marketplace; from support to apprehension, accounting professionals express their thoughts. Journal of Accountancy, 197(2), 43-44.
Feinberg, R.M. & Reynolds, K.M. (2010). An examination of entry and competitive performance in rural banking markets. Southern Economic Journal, 76(3), 624-625.
Gup, B.E. (2003). The future of banking. Westport, CT: Quorum Books.
Among the more obvious reasons is the simple elimination of overhead and initial construction costs for new bank branches. Though such costs are shared by all banking customers, it requires a sizeable initial investment on the part of the bank, and customers might not be plentiful enough to make the sharing of these costs feasible for either potential customers or the banks. With mobile banking, not only are the overhead costs of a physical branch eliminated, but many transactions can actually be conducted without any contact between the customer and bank personnel. This further eliminates costs associated with branch banking while allowing more affordable access to more complex services.
This reduction of overhead costs is observable in other forms of branchless banking, as well, as can clearly be seen in the massive reduction in costs when point-of-sale third party agents were introduced to the microfinance arena (CGAP a 2009). Additional…
CGAP a (2009). "Mobile banking: Overview." Accessed 13 November 2009. http://www.cgap.org/p/site/c/template.rc/1.11.14910/
CGAP b (2009). "Technology: Project profiles." Accessed 13 November 2009. http://www.cgap.org/p/site/c/template.rc/1.11.45745/
WorldBank. (2008). "Mobile banking to transform microfinance." Accessed 13 November 2009. http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:21765683~pagePK:64257043~piPK:437376~theSitePK:4607,00.html
The asylum automatically granted under the Swiss constitution was denied for those seeking it for religious reasons. y 1942, only 9,150 foreign Jews were legally resident in Switzerland, an increase of just 980 since 1931. It was the Swiss government that requested the German government to help it identify Jews by stamping all Jewish passports with a prominent letter "J," following the Nuremberg acts in 1935. "y 1942, acting at the behest of Switzerland's establishment and the majority of its people, its authoritarian police apparatus was dedicated to keeping the country 'pure' and to saving it from being 'overrun with Jews'." Until 1942, the working Jewish community in Switzerland was forced by the government to support Jewish refugees.
The other side of the German interest in Switzerland's banks was related to the business of Germany and the looting of conquered countries. y 1941, Germany had exhausted all of its foreign…
Bazyler, Michael J. Holocaust Justice: The Battle for Restitution in America's Courts. New York: New York University Press, 2003.
Borowiec, Andrew. "World's leaders gather in Geneva." The Washington Times. http://washingtontimes.com/world/20-5793r.htm .
Bower, Tom. Nazi Gold. New York: Harper Collins, 1997.
Clarke, William. "Nazi Gold: The Role of the Central Banks - Where Does the Blame Lie?" Central Banking, Volume VIII Number 1. Summer 1997. April 22, 2005. http://www.bigeye.com/nazigold.htm .
Ethics, Values, Social esponsibility
Bailout of Banking Industry in United States
Ethical Compliance by Banking Industry
It is quite common in American history that government comes for the rescue of companies and organization in the time of financial crisis. General motors' acquisition was one such example where saving GM meant saving the nation. When Government takes measure for the welfare of any segment of the economy, it then becomes responsibility of the organizations that they comply with social responsibility and ethical standards so that it should respond to its social character and use the benefits provided by the government in the honest fashion. The recent bailout of banking sector by U.S. government, and the misappropriation and misuse of these funds, have raised a big question mark on the compliance to ethical standards by the bank.
United States government has a long history of bailing out its financial institutions. Some of…
Amadeo, K. (2012). What Exactly Was the Bank Bailout Bill? retrieved from http://useconomy.about.com/od/criticalssues/a/govt_bailout.htm
Applebaum, B. (2009). Financial Rescue I.G. Says Banks Funneled TARP Aid to Various Expenses, The Washington Post, Retrieved from http://www.washingtonpost.com/wp-dyn/content/article/2009/07/19/AR2009071901770.html?nav=hcmodule
Congressional Budget Office. (2010), Report on the Troubled Asset Relief Program -- November 2010, Retrieved from http://www.cbo.gov/publication/21942
Davis, M. (2009). Top 6 U.S. Government Financial Bailouts, Retrieved from http://www.investopedia.com/articles/economics/08/government-financial-bailout.asp#axzz1ujUlc2ZS
Marketing in Banking
The topic being researched for this doctoral work is marketing in the banking industry. Before delving into the research too much for this topic, the researcher will first enumerate the goals that are to be attained. These goals, as also suggested by the parameters of the assignment, include meeting proper validity and reliability standards, avoiding bias, not posing hypotheses or ideas that are self-fulfilling prophecies or that have desired answers on the part of the researcher. There is also the consideration of using critical reasoning and strong logic skills so as to avoid making conclusions that are not supported by the evidence and/or that are completely contradicted by that same evidence (Leedy & Ormrod, 2010).
eliability & Validity
eliability and validity are two hallmarks of any good research and they must both be satisfied for the research outcomes to have any staying power or good ongoing reputation…
Leedy, P.D., & Ormrod, J.E. (2010): Pages 1-8, 28-35
Morris, F. (2009, October 2). Enforcing the Law - Eight Years Later. New York Times.
Retrieved August 18, 2013, from economix.blogs.nytimes.com/2009/10/02/
Sztejn v. Henry Schroder Banking Corp Case:
The Sztejn v. Henry Schroder Banking Corporation case, which was decided by Judge Shientag is considered as a landmark case that contributed to the development of English case law with regards to the fraud exception. The applicant of the letter of credit in the case sought a court injunction against the issuing bank in order to stop it from paying on documents that were presented by the seller. This applicant for the case argued that the shipped goods were not the items he had contracted for whose beneficiary was a merchant in India. Generally, the ruling of the case was a necessary element in preserving the efficiency of the Letter of Credit law as a vital instrument for financing trade.
Fraud in the Transaction:
The main basis of the Sztejn v. Henry Schroder Banking Corp case was allegations that shipped goods were not…
Gao, X. & Gao, X. (2002). The fraud rule in the law of letters of credit: a comparative study.
The Hague, Netherlands: Kluwer Law International.
"Sztejn v. J. Henry Schroder Banking Corporation et al." (n.d.). United Settlement. Retrieved August 23, 2012, from http://www.uniset.ca/other/cs6/31NYS2d631.html
Contributions of Mohamed Talaat Pasha Harb to Egypt’s National Development and Banking System
Born on 25th November, 1867 in Cairo’s El- Gammalia, Mohamed Talaat Pasha Harb is considered one among the greatest personalities who contributed to Egypt’s overall national growth and development. He studied art, science, economics, literature, and French. After acquiring a law degree, he commenced his career in the role of translator in the Royal Circuits’ Lawsuits Section, responsible for state- owned farmland. Though favoring free enterprise, he was quick to climb the rungs of the career ladder, landing the position of lawsuits section manager (53-75)3.
His subsequent posts as manager were at various organizations including Kom Ombo Company (a firm that actively reclaimed and sold land) and the Egyptian Real- Estate Company (where he ensured citizens of Egypt held most of the shares). He penned numerous books, including “The Economic Remedy of Egypt and Creating the…
Marketing in the anking Industry
Prescott Valley, Arizona
Abridged Literature Review
While there are many industries in the world that are growing at a rapid pace, one of them is exceedingly doing well. This is because it relies upon the monies and funds of its customers and greatly influences the other industries as well. This is the banking industry. Although a common part of every consumer's life, the banking industry has been growing and developing globally. To understand such growth, the attention instantly goes to the strategic and marketing techniques that have been applied by the people of this industry. Therefore, to gain a thorough and concise outlook of the marketing wonders that have continue to enable the banking industry to succeed at all fronts, the research topic that has been proposed for this research paper is 'marketing in the banking industry'. This topic will not only…
Berger, A.N. (2003). The Economic Effects of Technological Progress: Evidence from the Banking Industry. Journal of Money, Credit, and Banking, Volume 35.
Chaneta, D.I. (2010). Marketing: Packaging and Branding. Journal of Comprehensive Research, Volume 8, 19-30.
Flaunet, M. (2012). Banking Industry Challenges. Retrieved from Deloitte: http://www.deloitte.com/view/en_LU/lu/industries/banking-securities/banking-industry-challenges/#.UlTYD9KBlac
Jr., G.P., & Hoskins, L. (2006). The Case for Market-Based Regulation. Cato Journal, Vol. 26, No. 3, 469-487.
Video Tape and Disc ental
Health and Personal Care Stores
Table 2: Comparisons of Most isky Small Business (BizStats.com, cited by Telberg, 2003)
An Engine of Economic Growth
More and more, Craig, Jackson and Thomson (2007) argue, policymakers perceive the small business sector "as a potential engine of economic growth. Policies to promote small businesses include tax relief, direct subsidies, and indirect subsidies through government lending programs." These authors stress that encouraging lending to small business purports the Small Business Administration's (SBA's) primary policy objective of the loan-guarantee program. In their study, Craig, Jackson and Thomson (2007) implement empirical research to focus on SBA-guaranteed lending, utilizing a panel data set of SBA-guaranteed loans, they assess whether SBA-guaranteed lending discernibly impacts local economic performance. Ultimately, these authors cautiously conclude that "There is a positive (although small) and significant relationship between the level of SBA-guaranteed lending in…
Authority, purpose and scope. (2002). EXTENSIONS of CREDIT by FEDERAL RESERVE BANKS (REGULATION a). Retrieved November 10, 2007, at http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=57016e116171461106934124459aa8aa&rgn=div5&view=text&node=1-2:220.127.116.11.1&idno=12#12:18.104.22.168.22.214.171.124 http://www.questia.com/PM.qst?a=o&d=108945401
Bannock, G. (2005). The Economics and Management of Small Business: An International Perspective. New York: Routledge. Retrieved November 12, 2007, from Questia database: http://www.questia.com/PM.qst?a=o&d=108945415
Bielski, L. (2006). On the Hunt for the Meaningful Segment: With a Deluge of Customer Information to Choose from, Bankers Struggle to See Their Customers in More Refined, Specific Ways. ABA Banking Journal, 98(9), 45+. Retrieved November 12, 2007, from Questia database: http://www.questia.com/PM.qst?a=o&d=5017258794
Brew, J. (2007). Taxes: The Forgotten Piece of Bank Profits Investigating Two Overlooked Strategies Could Put You on Your Way to Cutting Taxes by Half. Got Your Attention?. ABA Banking Journal, 99(5), 22+. Retrieved November 12, 2007, from Questia database: http://www.questia.com/PM.qst?a=o&d=5020964964
Spatial tracking systems that make banks' floor plans and product positioning more effective;
5. Intelligent interactive displays that reflect the interests of the watcher;
6. Use of wireless tablet personal computers (PCs) for client interviewing; and,
7. Videoconference virtual experts for collaborative selling (56).
The same features that characterize high performance banks in their brick-and-mortar operations appear to relate to the use of technology as well, with the best performing banks having identified the optimum mix of services for the markets they serve. For instance, Grasing reports that, "Banks are taking a variety of approaches in implementing technology to make improvements in retail delivery. The methods differ, depending on the bank management's mindset toward the purpose of the software and its valued place in the new business or service delivery processes" (3). The main point in this area is that high performance banks apply technology in ways that help minimize…
Bielski, Lauren. (2007). "Today's Elements Tomorrow's Branch: The Branch Was Supposed to Phase out. It Hasn't and May Never. What Will the Branch of the Future Feature? Self
Service and Collaboration." ABA Banking Journal 99(6): 55-57.
DePrince, Albert E., William F. Ford and Thomas H. Strickland. (1999). "The New High
Performers Stretch Their Lead." ABA Banking Journal 91(11): 36.
Commonwealth Bank of Australia
etail Banking Service
Premium Business Services
Marketing Strategies at CBA
National Australia Bank
Australian and New Zealand Banking Group
Western Pacific Bank
Sustainable Competitive Advantage
One Stop Solution
Commonwealth Bank of Australia
Commonwealth Bank of Australia:
Headquartered in Sydney, Australia, Commonwealth Bank of Australia or CBA is one of the four large banks of Australia. The bank was established in 1911 as a government bank, since then, it has seen tremendous growth. Today, Commonwealth Bank of Australia is a multinational bank with operations across United States of America (USA), United Kingdom (UK), Fiji, New Zeeland and Asia. The bank got privatized in 1996, with issuances of shares worth 1.2 Billion USD in 1991, 1.7 Billion USD in 1993, and 5 Billion USD in 1996. As of January, 2008, Commonwealth Bank of Australia was the second largest Australian listed company…
Anz.com. 2014. Personal - Online Banking | ANZ. [online] Available at: http://www.anz.com/personal / [Accessed: 29 Mar 2014].
Commbank.com.au. 2014. Personal - Commonwealth Bank. [online] Available at: https://www.commbank.com.au / [Accessed: 29 Mar 2014].
Commbank.com.au. 2014. Tools - Commonwealth Bank. [online] Available at:
In either case, privacy issues were known to be much more complicated than mere issues of personal secrecy. In fact, as Richard Posner suggested more than 20 years ago, there is a fundamental economics of personal privacy -- an economics that is in large part responsible for, and untiringly organic to, our Constitution.
It is feasible, therefore, that there are rudimentary, biological, economic bases at the very roots of humankind's insatiable desire and need for privacy and security. (Posner, 1983)
As Mcride's research further indicates, "In 2002, the Potomac Institute for Policy Studies initiated Project Guardian: Maintaining Civil Liberties in the Information Age. The effort is aimed at shepherding discussion from all qualified voices on issues central to the tradeoff between privacy and security, particularly as this balance is threatened, or is perceived to be compromised, by advances in technology. Guardian is enriching the discussion by establishing a rigorous, multiway…
1) David Brin. "Coming Full Circle -- 21st Century Defense Will Stress Citizenship." Proceedings from Out of the Box and into the Future. Arlington, Va.: Potomac Institute for Policy Studies, 2001.
2) Michael Fitzgerald. "Alien lands big Gillette deal, but privacy is not on razor's edge." Small Times. 24 January 2003. www.smalltimes.com/document_display.cfm?document_id=5363.
3) Amitai Etzioni. The Limits of Privacy. New York: Basics Books, 1999.
4) Richard a. Posner. The Economics of Justice. Cambridge, Mass.: Harvard University Press, 1983.
Bankwest is an Australian banking institution that provides banking services to all Australians equally. This bank is a relatively old institution. It has been in operation for over a hundred years building a reputation of community involvement and support that exudes compassion and benevolence. They do this by supporting many charitable projects and organizations in addition to a number of banking services such as Some of those being retail, business, institutional, investing funds management, "superannuation, insurance and investment and share broking" (Bankwest About 2011).
Bankwest was founded in 1895. At that time it was the Agriculture Bank of Western Australia. The government in Australia designed the bank to build up the farm production industry (Bankwest History 2011).
Several years later in 1945, the bank started trading on the stock exchange on experienced growth on the western area of Australia. Eventually becoming an industry leader in the market (Bankwest History 2011).…
BankWest.com: CaseStudy. 2010. Industry Specialization Media Awards. < http://www.bankwest.com.au/Media_Centre/Bankwest_Awards/Best_of_the_Best_2010/index.aspx [12 March 2011].
Tribe, A. 2011. Business. < http://www.bankwest.com.au/Business / > [13 March 2011].
BankWest.com:Community. 2011. About Community Sponsorships. < http://www.bankwest.com.au/About_Us/Community_Sponsorships/index.aspx > [12 March 2011].
BankWest.com: Home Loans. 2011. Personal Home Loans. < http://www.bankwest.com.au/Personal/Home_Loans / > [ 12 March 2011].
exchange of currency have proliferated the Internet marketing world. Customers have faster and easier access to methods of exchange, deposits and payments, than ever before and the changes have come rapidly as more and more Internet commerce demands more and more ease of exchange. A global economy requires global economic infrastructure solutions to exchange of funds and to a large degree the Internet market has answered the call for change and availability of services. Yet, the substantial growth of Internet sales has also, arguably caused the growth of subsystems and infrastructural shifts that might not have been implemented with full knowledge of the implications of such actions. With security at risk and issues of currency exchange rates, not to mention global monetary regulations consumers must be aware of the type of services they are using and the way it might affect the efficacy of their transaction.
Internet Marketing not only…
Plander, B. "Credit Card Processing" http://www.west-wind.com/webconnection/MerchantProviders.asp
Phase 5 "RBC Case Study" http://www.phase-5.com/p5-case_studies/bank_tracking.php
Hoovers Online "Fact Sheet PayPal" http://www.hoovers.com/paypal/--ID__61321 -- /free-co-fin-factsheet.xhtml
economic crisis in Europe and the increasing costs for European countries to borrow money and bail out other Euro countries in financial distress. The EU nations that use the Euro have experienced a crisis among certain countries with high debt requiring bailouts for Greece and Ireland and the likelihood that Portugal and Spain may also need a bailout. Postponing the restructuring of high interest debts has led to further crisis rather than resolving any of the problems faced by insolvent countries. Huge transfer payments from the more powerful Euro countries, like Germany, to the failed economies of Greece and Ireland have made investors nervous and led to less investment at a crucial time. The author suggests that the debts of troubled countries need to be restructured now in order to create a sustainable payment to increase confidence and secure future payments.
Creditors will also have to shoulder some of the…
Bamberger, K.. (2010). Technologies of Compliance: Risk and Regulation in a Digital Age. Texas Law Review, 88(4), 669-739. Retrieved January 21, 2011, from ABI/INFORM Global. (Document ID: 1995143041). http://www.egloballibrary.com/egl/html/institutes/1086/homepage/library.jsp
Corder, J. (2009). The Federal Reserve System and the Credit Crisis. Public Administration Review, 69(4), 623-631. doi:10.1111/j.1540-6210.2009.02011.x http://ehis.ebscohost.com.csuproxy.egloballibrary.com/ehost/detail?hid=6&sid=feb1c9d6-ff89-462b-9741-b5b3cfdd54aa%40sessionmgr12&vid=8&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=buh&AN=42960193
Europe finance: Time for Plan B. (2011, January). EIU ViewsWire. Retrieved January 19, 2011, from ABI/INFORM Global. (Document ID: 2241366821).
English Right of Set-Off and Combination in the Circumstance of Insolvency
The right of combination and set-off, as developed under English law offer a number of safeguards to banks and creditors in general. These rights were expanded under the principles that they were necessary to effect substantial justice and that they would stimulate economic growth and trade. In the following paper, I suggest that the judicial application of these rights has tended to unfairly favor banks at the expense of the individual customer, which may initially stimulate growth by encouraging banks to provide loans, but in the long-term may serve to deteriorate trade, particularly at the international level. Customers in other countries, particularly civil law countries, experience much more risk when they do business with an English bank, and hence may be better off refraining from bringing their enterprises there, or at any rate must be extremely careful in drawing…
Aldrich, George. The jurisprudence of the Iran-United States Claims Tribunal. New York: Oxford University Press (1996)
Collier, John & Lowe, Vaughn. The Settlement of Disputes in International Law: Institutions and Procedures. New York: Oxford University Press (1999)
Pritchard, Robert. ed. Economic Development, Foreign Investment and the Law: Issues of Private Sector Involvement, Foreign Investment and the Rule of Law in a New Era. Boston: Kluwer Law International, International Bar Association. (1996)
Jan Paulsson, Nigel Rawding, Lucy Reed, Eric Schwartz, The Freshfields Guide to Arbitration & ADR (2nd revised ed.), Boston: Kluwer Law International (1999)
Pacific Coast Banking School
The Premier National Graduate School of Banking™
Credit Risk Management Extension Assignment Grade Sheet
Group a: Due February 23, 2012
FOR GRADER USE ONLY:
Graded by Christine Corso for John Barrickman
CREDIT RISK Management
2011 Session Instructor:
Group A: Due February 23, 2012
Add a brief biographical paragraph about your background
Certificate of Originality
"I certify that this paper represents and contains my own work. I have placed all quotations from other sources in a form to indicate that they did not originate with me and I have cited the work from which the material was taken. I have included footnotes for all information and ideas that I have taken from other sources. I have not shared and will not share my completed work with any other PCBS student nor have I read the completed work of any other…
Altman, E. (2008). MANAGING CREDIT RISK: THE CHALLENGE FOR THE NEW MILLENNIUM. Retrieved from Stern School of Business: http://pages.stern.nyu.edu/~ealtman/2-%20CopManagingCreditRisk.pdf
Bedell. (2009, September). TCM Guide: Holistic Risk Management. Retrieved from Global Finance: http://www.gfmag.com/archives/104-september-2009/2372-tcm-guide-holistic-risk-management.html#axzz1sMx8vpCj
Coen, W. (1999, July). Principles for the Management of Credit Risk - consultative document. Retrieved from Bank for International Settlements: http://www.bis.org/publ/bcbs54.htm
LaCapra, L. (2012, April 17). UPDATE 5-Goldman dials back risk, profit falls. Retrieved from Reuters: http://www.reuters.com/article/2012/04/17/goldman-idUSL2E8FH5XC20120417
12-8) if Tulip is paid $60,000 for her equity, that is a no bonus scenario. The entry would be:
Tulip, capital $60,000
If Tulip is paid $80,000 that is a bonus to the retiring partner. The remaining partners would pay out Tulip based on their new income sharing ratios, which would be 5:3, reflecting the degree of increased share each has of the partnership with the withdrawal of Tulip. The payout is $20,000.
Tulip, capital $60,000
Holland, capital $12,500
Flowers, capital $7,500
If Tulip is paid $30,000 this reflects a bonus to the remaining partners. Since Tulip's value was $60,000 the remaining $30,000 would be allocated to Holland and Flowers based on the new ratios.
Tulip, capital $60,000
Holland, capital $18,750
Flowers, capital $11,250
12-12) Return on equity is the net income for each partner divided by the average equity. Average equity is calculated…
e. no standardization) b) Diamonds: good medium of exchange
Peaches: perishable, differences in quality (i.e. no standardization) d) Grade a Honey: differences in quality (i.e. no standardization), difficult to transport e) Ice in a warm climate: perishable, difficult to store a. Over the long run, what is the primary determinant of the price level? Supply and demand, with price acting as an equilibrator b. Over the long run, what is the primary determinant of inflation?
The supply of money as compared to changes in productivity.
c. How is inflation related to the nominal interest rate?
Expectations of future inflation are one of the key factors in determining the nominal interest rate, the other being the 'core' interest rate, or the inflation-free level at which one is willing to lend money (which differs according to the issuer and associated risk premium).
4. Describe each of the following financial institutions. If it…
This means those companies that are in industries that are exposed to tremendous amounts of volatility should be engaging in these activities. Some of the different areas they will become involved in are: currencies, stocks, futures, options and commodities. The reason why, is because these kinds of companies are often exposed to large swings that could happen at any point in time (due to adverse changes in the economy or the markets). This will have a negative effect on earnings and it will become difficult from them to make accurate projections. When a company begins using hedging, this will provide more consistent earnings stability to their business model. This is point that they can provide more stable returns to shareholders.
However, not all firms should be hedging. In some cases, this activity could be considered to be speculation. As, the hedge may not provide any kind significant benefit to the…
Thomas, M, 2005, Hedging Instruments and Risks. McGraw Hill, New York.
Asset- Liability Management (banking)
The business system that enables a company to collect, maintain and manage a complete list of all the components possessed by the company is known as asset management. The main objective of the asset management is to enable the company to manage the financial facets of the ownership, estimation of the costs of ownership, record of items on hand, spare parts, replacements, depreciations, maintenance and insurance. (Asset management: www.infobeagle.com) The concept of asset-liability management has different meaning in different fields. Normally the banks and insurance companies employ accrual accounting for practically all their assets and liabilities. They are required to take on the liabilities and to invest on the assets and by so doing the reorganize the assets and liabilities from the hidden potential risks involved. (Asset Liability Management: Contingency Analysis) The objective of the Asset Liability Management Resources is to entail analysis, instruction and guidance…
These can include the stimulus package, though, because the Obama Administration is still offering stimulus dollars to banks and other companies that need help and cannot take care of their customers in the way that they used to and preferred to.
Figure 1: How Severe is the Subprime Mess?
Obviously, the subprime mess is a serious concern for everyone. The stimulus package was designed to help the banks and the people who borrowed from them with the fact that they could not pay for the debts that they had created for themselves. That was true for the people who had mortgages, and also true for the banks that loaned money to these people. The stimulus package was designed to help them both out so that they could take care of their debts and move forward again. However, the economic stimulus package has not fixed everything that was hoped. There are…
Anderson, Mark (2009-06-30). "Down in flames: Why Money Store was a bust." Sacramento Business Journal. American City Business Journals, Inc.
"Bank vows $20 billion for green projects." msnbc. 2008-02-06. http://www.msnbc.msn.com/id/17500301/ .
"Credit Cards' Latest Pitch: Green Benefits." Wall Street Journal. 2007-11-30. http://online.wsj.com/article/SB120225763311445823.html .
Freer, Jim (2007-03-09). "BofA donates $1M to Camillus House." South Florida Business
House of Morgan: An American Banking Dynasty and the ise of Modern Finance, by Edwin P. Hoyt, Jr. Specifically, it will discuss the three most significant things and/or people in this book. The significance could be judged at the time of the events/persons in question or perhaps better, be seen through hindsight, i.e. its/their effect on modern finance. While there are many significant and important people and events depicted in "The House of Morgan," three stand out as the most influential and significant as the book progresses. These three things are Miles Morgan and his immigration to America, Junius Spencer Morgan and his rise in financial banking, leaving his legacy to his son, J. Pierpont Morgan, and finally, the railroad in America, which neatly cemented the family's success and rise to domination of American and worldwide finance and investment.
THE HOUSE OF MOGAN
The House of Morgan" tells the story…
Author not Available. "Milestones in J.P. Morgan History." AP Online, 13 Sept. 2000.
Hoyt, Edwin P. Jr. The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance. New York: Dodd, Mead and Company, 1966.