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E-Finance: An Introduction" by Franklin Allen, James McAndrews and Philip Strahan (2002)
In sum, e-finance involves providing some type of financial services online or through other modern digital means. The journal article by Allen et al. provides a review of various types of research issues (e.g., the use of electronic payment systems, the operation of financial firms, and the operation of financial markets) related to e-finance that warrant further studies in the future. The authors describe the fundamental transformations that have taken place in the financial services industry and emphasize that a growing number of providers are operating online without a physical brick-and-mortar presence. In addition, a description concerning the respective impact of the Internet and other electronic banking systems on different sectors competing in the financial services industry (e.g., online banking, insurance companies, and electronic brokerage services).
The authors also make the point that electronic banking is not a…
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…
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…
The existence of money makes exchange easier, compared with barter systems, because money provides a stable store of value. If exchange is conducted with physical goods only – as in a barter system – then there are many points of friction that will inhibit exchange. First, goods have different physical characteristics that can put limitations on exchange. Some goods are perishable, others too large to transport, still others difficult to transport. Two goods may have equivalent value, but these physical limitations create barriers to exchange. How does one exchange a house for a year's supply of fish, for example? They might have roughly the same value, but you can't take all the fish at once, you can't trust that the fish will be delivered later, and moreover if the person wishes to take back the house because the deal fell through, but the other person ate all the fish,…
The second and third runs, therefore, were largely based on making adjustments to the first run strategy. In each instance, the adjustments made increased the total profit over the four years and it is believed that continuing along that same path of making slight adjustments would consistently increase the profits earned. It is for this reason that the strategy changed little -- there was no insight that was believed to lead to a better strategy and in lieu of such major insight there was no reason to pursue a radically different strategy.
The most useful concepts in this exercise were contribution margin (CVP analysis) and elasticity of demand. Understanding the cost structure of each product allowed for more intelligent pricing decisions. For example, the price cut in the X7 was significant at 25% from the base price in the base case run to 31.5% of that price in the later…
Richards, D. (2010). How to do a breakeven analysis. About.com. Retrieved June 5, 2010 from http://entrepreneurs.about.com/od/businessplan/a/breakeven.htm
QuickMBA.com. (2007). Price elasticity of demand. QuickMBA.com. Retrieved June 5, 2010 from http://www.quickmba.com/econ/micro/elas/ped.shtml
QuickMBA/Porter, M. (2007). Porter's generic strategies. QuickMBA.com. Retrieved June 5, 2010 from http://www.quickmba.com/strategy/generic.shtml
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].
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.
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
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 .
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.
Foreign Monetary System
A monetary system is any structure initiated by the government and mandated to issue currency, acknowledged as the medium of exchange by its citizens and governments of other nations. The central bank manages the monetary system of a country; this same bank has the responsibility of printing money and controlling the economy. Since the colonial period, coins from the European colonies had circulated in all the colonies. The Spanish coins gained dominance due to the scarcity of coins, during this time; the main form of trade was barter trade. The trade-involved items such as rice, tobacco, or animal skins, which took the form of money paper and notes, had varying rates of discount in different colonies rendering them of very low value (onald & Wright, 2006).
The high population in the U.S. called for increased trade and commerce. This forced the United States government to look for…
Ronald, M. & Wright, R.E. (2006). Development of the U.S. Monetary Union. Journal of Financial History Review, 13(1), 19-41.
Anonymous, (2011). Challenges and risks of the International Monetary System. Journal of Economic Review, 22(5), 768.
Eichengreen, B.J. (2008). Globalizing capital: A history of the international monetary system.
Princeton: Princeton University Press.
Credit isk Management
Banks are an important part of the economy of any nation. Traditionally, the banks operate as financial intermediaries serving to satisfy the demand of people in need of various forms of financing. Through this, banks enable people to purchase home and businesses to expand. These financial institutions therefore facilitate investment and spending that are responsible for fueling the growth of the economy. In spite of their vital role in the economy, they are nevertheless prone to failure and just like other types of businesses, they also go bankrupt. Unfortunately, the failure of banks can have many and significant implications than any other type of business. As witnessed during the great depression, and in recent times following the global economic crisis and recession, the stability or lack of it in the banking system could trigger economic epidemics that would impact millions of people. With respect to this, it…
Bank for International Settlements (BIS). (2001). Consultative Document -- Overview of The New Basel Capital Accord. Basel Committee on Banking Supervision.
Basel Committee on Banking Supervision (1988) "International Convergence of Capital Measurement and Capital Standards" (www.bis.org/publ/bcbs04A.pdf).
Benston, G.J. (1998) "Regulating Financial Markets: A Critique and Some Proposals." Hobart Paper no. 135. London: Institute of Economic Affairs.
Blundell-Wignall, A., Atkinson, P. And Roulet, C. (2013). Bank Business Models and the Basel System: Complexity and Interconnectedness. OECD Journal: Financial Market Trends, Issue 2.
They have a moral obligation to the South African people in this area for many reasons. First, they have an obligation to make certain that they can participate in the global economy to give their citizens the same chances for advancement as other nations. Secondly, they have a moral obligation to do everything possible to keep their citizens safe.
When one discusses the topic of security in Information and Communication Technology (ICT), much of the discussion focuses on the technology itself. Currently, the South African banking industry is attempting to establish standards that represent best practices in information security (Tshinu, Botha, and Herselman, 2008). These measures currently focus on the technological aspects of information security. However, the development of industry-wide best practices must take all sources of vulnerability into consideration, including the moral and ethical responsibility to keep information safe.
Therefore, the development of best practices cannot ignore the human…
Anderson, R. & Moore, T. 2006. "The Economics of Information Security." Science [Online] 314 (5799), pp.610-613, October 27, 2006. Available at:
http://www.cl.cam.ac.uk/~rja14/Papers/toulouse-summary.pdf (Accessed June 20, 2010).
Anderson, R. & Moore, T. 2007. "The Economics of Information Security: A Survey and Open Questions." Fourth Bi-annual Conference on the Economics of the Software and Internet Industries. January 19-20, 2007: Toulouse, France. [Online] Available at:
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
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
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
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.
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
This is the interest rate that banks lend their balances on at the Federal Reserve to other banks. It exercises this control by influencing the demand for and supply of these balances through the following means:
Open market operations -- the purchase or sale of securities, primarily U.S. Treasury securities, in the open market to influence the level of balances that depository institutions hold at the Federal Reserve anks (The oard's Publications Committee, 2005).
Reserve requirements -- requirements regarding the percentage of certain deposits that depository institutions must hold in reserve in the form of cash or in an account at a Federal Reserve ank.
Contractual clearing balances -- an amount that a depository institu-tion agrees to hold at its Federal Reserve ank in addition to any required reserve balance.
Discount window lending -- extensions of credit to depository in-stitutions made through the primary, secondary, or seasonal lending programs (The…
Federal Reserve Bank of San Francisco. (n.d.). The federal reserve system is the central bank of the United States. Retrieved May 18, 2009, from Federal Reserve Bank of San Francisco: http://www.frbsf.org/publications/federalreserve/fedinbrief/central.html
Obringer, L.A. (2002, May 02). How the fed works . Retrieved May 18, 2009, from HowStuffWorks.com: http://money.howstuffworks.com/fed2.htm
The Board's Publications Committee. (2005). The federal reserve system purposes & functions. Washington, D.C.: Board of Governors of the Federal Reserve System.
The structure of the federal reserve system . (2003, July 8). Retrieved May 18, 2009, from federalreserve.gov: http://www.federalreserve.gov /pubs/frseries/frseri.htm' target='_blank' REL='NOFOLLOW'>
International Monetary System
In world trade, varied national currencies are swapped for each other by means of rules and procedures set by a system called the international monetary system. To delineate a general standard of value for the world's currencies, such a system is believed to be necessary.
The global monetary structure has always adhered to the organizational framework of the international discipline. In each stage of the financial capitalism there exists a corresponding monetary approach. The monetary structure during the postwar periods catered to the dominance of the United States. This was applied as a tool during the period to enforce the U.S. dominance over all its allies and the developing countries, irrespective of the socialist countries isolated themselves being unconnected from the influence of the financial and monetary disciplines of the global capitalism.
Gold standard was the first contemporary international monetary system. The gold standard contributed for the…
Amin, Samir. Replacing the International Monetary System? - Current Failures of Global Economic Policy. Monthly Review. Volume: 8; No: 1; October, 1993. pp: 93-98
Holloway, Thomas. M. The International Monetary System: Essays in World Economics. - Book Reviews. Monthly Labor Review. Volume: 12; No: 1; January, 1998. pp: 158-164
International Monetary System. The Columbia Encyclopedia. Sixth Edition. 2001. Retrieved from http://www.bartleby.com/65/in/intlmone.html Accessed on 12 November, 2004.
Little, Jane Sneddon; Oliveri, Giovanni. P. Rethinking the International Monetary System: An Overview. New England Economic Review. Volume: 16; No: 1; November, 1999. pp: 24-29
Technology has now become a euphemism for the information age. As individuals, information rarely escapes our grasp as now anybody can have access to its vast array of knowledge. More importantly, in the midst of our global society, technology has a profound role on our nation's ability to participate in a more competitive environment. As the age old adage states, "Knowledge is power," and in many instances this statement is correct. Information allows individuals to make better informed decisions regarding projects that can have grave implications on society if the solution is incorrect. Further, information allows more convenience in regards to access and search of particular concepts. Technology allows humans to live longer while allowing them to live more productive lives (Gregg, 2006). The benefits that technology derives are as difficult to enumerate as they are to fully comprehend. However, it is my contention that the information age…
1) Bill Apro & Graeme Hammond (2005). Hackers: The Hunt for Australia's Most Infamous Computer Cracker. Five Mile Press. ISBN 1-74124-722-5.
2) Stuart McClure, Joel Scambray & George Kurtz (1999). Hacking Exposed. Mcgraw-Hill. ISBN 0-07-212127-0.
3) Michael Gregg (2006). Certfied Ethical Hacker. Pearson. ISBN 978-0-7897-3531-7.
4) Clifford Stoll (1990). The Cuckoo's Egg. The Bodley Head Ltd. ISBN 0-370-31433-6.
The chance of collecting would be made significantly higher, and since the collection rates for electronic transactions are considerably higher, about 50% higher, to be precise than transactions on paper, it would only be more practical to take measures that would reduce this burden. The NACHA states that AC transactions would require the biller to store a copy for a period of two years, and destroy the original document, and the reason for this is that it would be easier for them to carry out electronic transactions in the future. The ACH method offers immense benefits to billers too, and some of these are: check processing costs would be greatly reduced if there were no checks to present, the availability of funds would also be greatly improved, and these funds would be higher than ever before. eturn items would be handled much faster and also with much more ease, and…
ACH Electronic Paying Processing. Retrieved at http://www.ach-payments.com/ . Accessed on 12 March, 2005
ACH Electronic Payments. Retrieved at http://www.acceleratedpayment.com/achep.htm . Accessed on 12 March, 2005
Fair Competition in the Automated Clearing House Clearing System: A Private Sector ACH Operator Perspective Electronic Payments Network. December 18, 2002. Retrieved at http://www.epaynetwork.com/infofiles/EPN_Fair_Competition_in_ACH_12_2002.pdf . Accessed on 12 March, 2005
Haitema, Marcie; Taylor, Colleen. New Dawn for U.S. Payments. Retrieved at http://www.jpmorgan.com/cm/BlobServer?blobtable=Document&blobcol=urlblob&blobkey=name&blobheader=application/pdf&blobwhere=jpmorgan/cash/pdf/thetreasurer.pdf
Financial system serves as the economic backbone of the country. Financial markets provide capital to businesses, and home owners and a safe haven for income. The financial system includes a variety of financial institutions (different types of banks, for example) as well as the central bank, the stock market and other peripheral types of businesses like mutual funds. For individuals, the system provides a safe place for deposits, and access to capital for things like mortgages, college education or cars. For businesses, banks are a critical source of investment capital that is used for expansion. Thus, the financial system allows for our economy to grow, and for consumers to be able to afford to live better. For the economy, it is critical to have a robust financial system. hen the financial system is weakened, as happened in 2008, the results for the economy can be devastating (Levine, 2010). This is…
Reuters. (2013). Bernanke says stress tests make banks more stable. CNBC. Retrieved May 5, 2013 from http://www.cnbc.com/id/100625500
Levine, R. (2010). An autopsy of the U.S. financial system. National Bureau of Economic Research. NBER Working Paper No. 15956.
" (Structure of the Federal eserve System)
The 12 Federal eserve Banks extend banking service to the depository institutions and also to the federal government. To the financial institutions it takes the responsibility of maintaining reserve and clearing out accounts and entails various payment services incorporating checks, electronically transferring funds and circulating and receiving coins and currency notes. As the banker of the Federal Government they function as fiscal agents. They maintain the Treasury Department's transaction account; they pay treasury checks; enable to process electronic payments and issue transfer and redeem U.S. government securities. (eserve Bank Services)
The functions of Federal eserve start with the formulation of the Monetary Policy in accordance with the needs of the national economy. The Federal eserve System provides three basic tools for conducting the monetary policy such as open market operations, discount rate and reserve requirements. The Open Market Operations is used as the…
Federal Reserve Bank of Minneapolis: Historical Overview. Retrieved at http://minneapolisfed.org/info/mpls/history/overview.cfm . Accessed 11 November, 2005
Ferguson, Robert. W. The Evolution of Central Banking in the United States. Retrieved at http://www.federalreserve.gov /boarddocs/speeches/2005/20050427/default.htm' target='_blank' REL='NOFOLLOW'>
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).
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:
The Federal eserve System is controlled by the Board of Governors of the Federal eserve System who formulate the initial margin requirements under egulations T, U, and X. Margin loan increases and decrease in aggregate value and relative to market capitalization, affect margin requirements instrumentally affecting the prices of common…
Assess the Effectiveness of the Federal Statistical System in Providing Relevant, Reliable, and Timely Information that Meets Federal Program Needs, available at http://www.gao.gov/sp/html/strobj326.html , accessed on: October 28, 2003
Board of Governors of the Federal Reserve System, available at http://www.federalreserve.gov , accessed on: October 28, 2003
Federal Reserve Bank of Minneapolis -- the Region -- the Future of Rural America (June 1995), available at http://minneapolisfed.org/pubs/region/95-06/reg956b.cfm , accessed on: October 28, 2003
Margin requirements, margin loans, and margin rates: practice and principles, available at http://netec.mcc.ac.uk/WoPEc/data/Articles/fipfedbney:2000:i:sep:p:19-44.html, accessed on: October 28, 2003
Their basis of criticism is that it had very expansionary monetary policy in the early days that gave room for misallocation of various capital resources. This lead to various undesirable economic scenarios such as the support of a massive stock price bubble. It has been argued that even though the Federal reserve did not cause the Great depression, it mitigated it through the unnecessary contraction of the money supply which was not necessary at that time since the markets by that time needed to be liquidated (Friedman, 1985).He argued that the Fed should be overhaulead and then replaced by a specialized computer system whose role would be to set rates that are derived from the standards econometrics. However, the Australian School economists have argued that the Fed's manipulation of the supply of money in order to put a halt on "gold flight" away from England lead to serious financial malinvestment…
Friedman (1985), "The Case for Overhauling the Federal Reserve," Challenge magazine article
Taylor, John B. (2007). "Housing and Monetary Policy," NBER Working Paper Series 13682.
Temin, P (1976).Did Monetary Forces Cause the Great Depression? New York: W.W. Norton,
19th century, the federalist/anti-federalist schism dominated political discourse in the United States. The so-called "first party system" became less relevant as increasing numbers of citizens became politically active, leading to a greater plurality of voices and opinions. Even then, political parties had not yet become fully formed. Most elections had candidates running independently. However, the anti-federalists had become the Democratic-Republicans and they emerged as a dominant presence in the controversial 1824 presidential election. When he was defeated in that election by John Quincy Adams, Andrew Jackson and his supporters started the Democratic Party as an opposition group. In response, John Quincy Adams and his Secretary of State Henry Clay rebranded the Democratic-Republican Party the National Republicans.
Jackson's Democratic party grew in popularity during his presidency. An opposition party, the Whig party, emerged in response in the 1830s. For the next several decades, the Democrats and the Whigs were the primary…
Bretton Woods International Monetary System was invented and put in use from the end of World War II until the mid 1970s. In theory the system was designed to make banking more global and more streamlined. In fact, according to historians, "the Bretton Woods system was history's first example of a fully negotiated monetary order intended to govern currency relations among sovereign states. In principle, the regime was designed to combine binding legal obligations with multilateral decision-making conducted through an international organization, the IMF, endowed with limited supranational authority" (ucsb.edu, 2013).One of the elements of this system which manifested in practice was the fact that so much of th4e development and nuances of this system were directly reliant on the needs and policies of the most influential member of this international banking system; this member was the United States. One of the fundamental assumptions that the design of this system…
Columbia.edu. (2013). Labor Productivity and Comparative Advantage. Retrieved from Columbia.edu: http://www.columbia.edu/itc/sipa/u8213-03/packet/krugman2-300.pdf
Duhigg, C., & Bradsherr, K. (2012, January 12). How the U.S. Lost Out on iPhone Work. Retrieved from Nytimes.com: http://www.nytimes.com/2012/01/22/business/apple-america-and-a-squeezed-middle-class.html?pagewanted=all
Investopedia.com. (2013). Definition of 'Quantitative Easing 2 -- QE2'. Retrieved from Investopedia.com: http://www.investopedia.com/terms/q/quantitative-easing-2-qe2.asp
Leeds, S. (2010, November 8). The Arguments Against QE2. Retrieved from Leedsonfinance.com: http://leedsonfinance.com/2010/11/08/the-arguments-against-qe2/
Complexities of the U.S. Financial System
The United States financial system has several complexities, and it is impacted by various environmental factors such as the economy and federal regulations. Some of the major components in the U.S. financial system include financial markets and the U.S. Federal eserve. As one of the major elements of the U.S. financial system, financial markets have considerable impacts on the economy, businesses, and individuals. Financial markets can basically be described as platforms where companies in an economy access capital to expand or hedge their risks. Generally, these markets help to efficiently guide the flow of investments and savings in the economy is a manner that promotes the collection of capital and the production of goods and/or services.
The U.S. financial markets have considerable effects on the economy because they provide platforms through which companies generate cash for growth, lessen risks, and investors make money (Amadeo,…
Amadeo, K. (n.d.). An Introduction to the Financial Markets. Retrieved January 30, 2014, from http://useconomy.about.com/od/themarkets/a/capital_markets.htm
Seabury, C. (2011, September 6). How Interest Rates Affect the U.S. Markets. Retrieved January 30, 2014, from http://www.investopedia.com/articles/stocks/09/how-interest-rates-affect-markets.asp
"Supervision and Regulation." (n.d.). The Federal Reserve System: Purposes and Functions.
Retrieved from The Federal Reserve website: http://www.federalreserve.gov /pf/pdf/pf_5.pdf' target='_blank' REL='NOFOLLOW'>
Collateralized loans will have demonstrably greater security than uncollateralized loans.
While these measures seem sound and will hopefully ensure that no institution will be penalized for making the types of loans that are necessary for the international economy to remain functional, much still needs to be done in exercising oversight over the practices that lead to the failure of Lehman Brothers in the first place. A lack of transparency in financial dealings remains a concern, and there are still a variety of financial instruments that are poorly regulated -- moreover, the precipitous drop in interest rates orchestrated by the Fed to stimulate the economy could give rise to yet another crisis of over-borrowing and widespread consumer debt. Greater regulation and oversight is necessary as well as greater insurance of debt.
Press release. (2008, December 18). The Federal eserve. etrieved November 18, 2009
Press release. (2008, December 18). The Federal Reserve. Retrieved November 18, 2009
http://www.federalreserve.gov /newsevents/press/other/20081219a.htm' target='_blank' REL='NOFOLLOW'>
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
Press again the ? arrow used for turning on the device.
You decide on a new PIN and enter it.
Retype it in order to confirm the new PIN.
At the finish press ? The initial arrow again.
After these easy steps you have personalized your Digipass and you are ready to use it in your online transactions.
In order to generate your personal access code, you will follow these steps:
1. Turn on the Digipass.
2. Choose "I" from the two options.
3. Enter the PIN code and press ?
4. A code will be automatically generated for you to access the Home Bank account.
Once you entered your account, you can access:
the General Information section where you have information about the situation of your account, the number as well as the sum of money available and the credit limit the Transfers section where you have the…
This aspect of the study were inclusive of works of "economic historians on the development of financial systems" most particularly the "banking systems" worldwide and exactly what the resulting impact will be. (Rousseau & Sylla, 2001) hile the two identified "strands of literature" one dealing with domestic and the other international developments, are no always related to one another" but are however, both elements of the story called financial globalization." Definition of a "Good Financial System" states that there are five key components which are: (1) Sound public finances and public debt management; (2) Stable monetary arrangements; (3) a variety of banks, some with domestic and others with international orientations, and perhaps some with both orientations; (4) a central bank to stabilize domestic finances and manage international financial relations; and: (5) ell-forming security markets."
Impacts of Globalization on National Economies
Impacts on the economies of the world have been stated…
Rousseau, Peter L. And Sylla, Richard (2001) "Financial Systems, Economic Growth and Globalization"
Financial Systems, Economic Growth and Globalization" 2001 Oct 15 Online available at http://www.nber.org/~confer/2001/globes01/sylla.pdfr.org/~confer/2001/globes01/sylla.pdf
Bruno, Giovanni S.F. et al. (2003) Measuring the effect of globalization on labor demand elasticity: An empirical application to OECD Countries ISBN 1616-4814. FLOWENLA Discussion Paper 2 available Online at http://www.eastwestmi gration.org retrieved from the Internet 26 May 2006
Gartzke, Erik (2003) War, Peace, and the Invisible Hand: Positive Political Externalities of Economic Globalization International Studies Quarterly Volume 47 Issue 4-Page 561 - December 2003 doi:10.1046/j.0020-8833.2003.00279.x Quan Li21Columbia University, 2 the Pennsylvania State University
The development of the prototyping methodology
The Benefits of using Prototyping today
The evolution of apid Prototyping
The creation and development of three banking websites using prototypes
Prototyping for banking related GUI
sing mobile phones for banking
Banking systems using ATMs and ADCs
Prototyping in the Banking Field
What is Prototyping?
The Web defines prototyping as the term that is used to describe the process by which physical mock ups or models are made up out of the proposed designs. In the days before the wide usage of the computer aided technology, prototyping was done using traditional models. Today however, prototyping is done using three dimensional computer models. This method is definitely more efficient as well as quicker than the traditional methods. The computer-aided prototyping is also referred to as 'apid Prototyping'. (Fundamentals of Graphics Communication, 3/e) Sometimes, certain partial aspects of the program are created using…
"A Current Report of the Activities from the Banking Industry Technology Secretariat" BITS Bulletin. Retrieved From
http://www.bitsinfo.org/Feb99.pdf Accessed on 6 December, 2004
Brinck, Tom; Darren, Gergle. "The Design of Banking Websites: Diamond Bullet Design" Retrieved From http://www.diamondbullet.com/iterative.pdf Accessed on 6 December, 2004
"Chapter 14 - Programming and Languages" (2001-2002) Computing Essentials. Irwin McGraw Hill. Retrieved from http://www.mhhe.com/it/oleary/ce01-02/student/olc/glo_ch14.mhtml Accessed on 6 December, 2004
Management Issues Facing Australian Banks in Asia Today
Today, the Australian banking industry enjoys a high level of confidence among domestic and international investors alike, and the nation has managed to weather the fallout from the Asian financial crisis and Great ecession far better than many of its neighbors, and continues to grow economically. This economic development is due in large part to Australia's increasing commercial trade and cultural exchanges with its largest trading partner, China (Chinese economy, 2016). Not surprisingly, the Australian banking industry has taken advantage of these opportunities to establish an ever-increasing number of branches in China, which have largely experienced positive returns on their investment. Nevertheless, given the fundamental cultural differences and worldviews that exist between consumers in Australia and China, it is the argument of this paper that there are also a number of significant management issues facing Australian banks in Asia in general and…
Allen, D. E. & Powell, R. (2011, March 1). Customers and markets: Both are essential to credit-risk measurement in Australian banks. Australasian Accounting Business & Finance Journal, 5(1), 57-61.
Anbari, F. T. & Khilkhanova, E. V. (2009). Managing cross-cultural differences in projects. Orlando, FL: PMI Global Congress North America.
Australia's banking industry. (2011). Australian Trade Commission. Retrieved from http://www.austrade.gov.au/articledocuments/2792 / australias-banking-industry.pdf.aspx.
Australian banks in Asia. (n.d.).
A favorite target for conspiracists today as well as in the past, a group of European intellectuals created the Order of the Illuminati in May 1776, in Bavaria, Germany, under the leadership of Adam Weishaupt (Atkins, 2002). In this regard, Stewart (2002) reports that, "The 'great' conspiracy organized in the last half of the eighteenth century through the efforts of a number of secret societies that were striving for a 'new order' of civilization to be governed by a small group of 'all-powerful rulers.' The most important of these societies, and the one to which all subsequent conspiracies could be traced, is the Illuminati founded in Bavaria on May 1, 1776 by Adam Weishaupt" (p. 424). According to Atkins, it was Weishaupt's fundamental and overriding goal to form a secret organization of elite members of Europe's leading citizens who could then strive to achieve the Enlightenment version of revolutionary social…
American Psychological Association. (2002). Publication manual of the American Psychological
Association (5th ed.). Washington, DC: Author.
Anderson, J. (1981, 1723). The charges of a Free-Mason extracted from the ancient records of lodges beyond the sea, and of those in England, Scotland, and Ireland, for the use of the lodges in London: To be read at the making of new brethren, or when the master shall order it. Reprinted in The Radical Enlightenment: Pantheists, Freemasons, and Republicans, by M.C. Jacob, 279-285. London and Boston: Allen & Unwin in Harland-
Jacobs at p. 237.
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.
International Monetary System and Exchange ate Policies
A report/essay: chapter 17, multinational companies. select topic research write: Multinational vs. domestic financial management exchange rates international trade international monetary system exchange rate policies trading foreign exchange european monetary union interest
rate parity/purchasing power parity international capital structures.
The international monetary system and exchange rate policies
International Monetary systems
These are a set of rules and that regulate how international trade and payments are handled. It facilitates the exchange of capital, goods and services among countries. However, this system does not have a physical presence but, it consists of interlacing rules and procedures and is influenced by the market of foreign exchange. An example of an international monetary system is the International monetary fund. These interlacing rules and procedures are referred to as exchange rate Policies.
Exchange rate policies
These are rules that officials of public finance from different nations have developed…
Eichengreen. (2011). Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System
Goyal, M., Raman, Wang, and Ahmed; . ( 2011). Financial Deepening and International Monetary Stability.
Michael C. Ehrhardt, & Eugene F. Brigham. (2011). Corporate Finance (4th ed.): Cengage.
OECD. (2011). The Effects of Oil Price Hikes on Economic Activity and Inflation.
Furuholt, (2006) argues that lack of management engagement to the acceptance of information systems has been a barrier to the implementation of information systems. The issues are even common with organizations in the developing countries where management does not give enough priority to the information systems implementation. Importantly, implementation of information systems requires management support since management will need to approve fund that would be used for IS implementation. Generally, younger people are more interested in the it tools than older people. In a situation where number of older working team outnumbers younger working team within an organization, the IS implementation may be cumbersome.
More importantly, lack of knowledge of information systems may serve as barrier to its implementation. In the developed countries, private and public organizations have already aware the importance of information systems to the organizations. Many organizations in developed countries already realize that it tool is a…
Abukhzam, M. & Lee, a. (2010). Factors affecting Bank Staff attitude towards E-banking adoption in Libya. The Electronic Journal on Information Systems in Developing Countries: 42(2): 1-15.
Ali, S.N.A. (2010). E-government services: an exploration of the main factors that contribute to successful implementation in Libya. PhD thesis, University of Portsmouth.
Bartol, K.M. (1982). Managing Information Systems Personnel: A Review of the Literature and Managerial Implications. MIS Quarterly.
Boh, W.F. & Yelling, D. (2007). Using Organizational Architecture Standards in Managing Information Technology. Journal of Management Information Systems. 23 (3): 163 -- 207.
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…
The overall credit conditions have for example been severely affected by housing market and other economic trends. This has been exacerbated by energy and commodity price increases, which have affected household buying power negatively.
Concomitantly, the inflation rate has remained high at nearly 3.5% for the first five months of 2008. Chairman ernanke also noted that the trend in rising prices was likely to further increase inflation. Furthermore, oil production has risen only slightly, despite sharp price increases. This indicates tighter government control over oil reserves.
The declining value of the dollar in foreign markets also seems to be a matter of concern for congress that both result from and in turn affect the volatility of oil prices. There does not seem to be a particular emphasis on any single aspect of inflation or the recession. Instead, the general consensus appears to be that all the elements within the economic…
Bernanke, Ben S. Testimony: Semiannual Monetary Policy Report to the Congress. Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate. July 15, 2008. http://www.federalreserve.gov /newsevents/testimony/bernanke20080715a.htm' target='_blank' REL='NOFOLLOW'>
tax system of one country with that of another is an exercise fraught with dificulties and ultimately doomed to failure . tax system will never be much more than a reflection of strongly national cultures and forces. discuss this statement in the light of your knowledge of comparative tax system in developing and/or developed countries i
The following pages focus on analyzing the factors of influence on different countries' taxation systems. The paper begins with an introductory section that allows readers understand the point-of-view used in this paper. The following section refers to describing the taxes pand taxation systems used by most countries and their objectives, in order to understand the similarities and differences between these taxation systems. The paper continues with the analysis of several factors that influence countries' tax system design, like cultural factors, technological developments, and natural resources. In order to exemplify this, the taxation…
1. Pasekova, M. et al. (2011). Comparative Analysis of Tax Systems: Some Evidence from CEE Countries. World Academy of Science, Engineering, and Technology. Retrieved February 27, 2012.
2. Greenhouse, S. (2011). Tiny Tax on Financial Trades Gains Advocates. The New York Times. Retrieved February 28, 2012 from http://www.nytimes.com/2011/12/07/business/global/micro-tax-on-financial-trades-gains-advocates.html?_r=1&pagewanted=all .
3. Ross, M. (2004). Does Taxation lead to Representation? Cambridge University Press. Retrieved February 28, 2012.
4. Seto, T. (2008). Four Core Principles of Tax Design System: Introduced and Applied to the Taxation of Multinationals. Loyola Law School. Retrieved February 28, 2012.
financial system trials tribulations starting early 2008. Indicate major reasons contributed financial market's collapse. Please leave a space reason. -College Level paperOrder ID
Five major factors that contributed to the financial market's collapse
eason 1: Historically low interest rates
The first major contributor to the collapse of the worlds' financial markets was the housing bubble. The Federal eserve dropped interest rates to historically levels after the September 11 terrorist attacks and the dot.com bubble burst. This was to generate more spending and borrowing and propel the nation out of recession. Low interest rates encouraged people to buy on credit. Many people took out mortgages, thinking that this was a good time to buy a house, and many others took out mortgages hoping to 'flip' a house, or sell it for more than they paid for it, as they were convinced that it was impossible for housing prices to go down…
Shah, A. "Global financial crisis." Global Issues. 2010. [May 24, 2011]
"The reasons behind the global economic crisis." Fair Loan Rate. 2008.
According to Chancellor Helmut chmidt the interest rates of the developed countries in the post1990 era were higher than they had ever been "at any time since Jesus Christ" (http://hdr.undp.org/external/HDR_papers/oc3b.htm). In 1983, in Latin America, whose devaluations were enormous, it was recorded that in one year "the effect on the individual private sector, which in [some] cases had been encouraged by the policies of the authorities to borrow, has been devastating...the amount needed in local currency to service external debt has increased three or four times" (Kuczynski,1983, p. 22). The situation in these countries is such: with the decrease of their currency value, more goods must be sold to pay back their debt plus interest, and since their export prices have been steadily declining in the post war years, their accumulated interest swells to a rate that is higher than the nominal dues stipulated in the original contract (http://hdr.undp.org/external/HDR_papers/oc3b.htm). In…
Developing countries in the international economic system. Accessed on 1/13/2011 from: http://hdr.undp.org/external/HDR_papers/oc3b.htm
InfoPlease, International finance. The International Monetary System. Accessed on 1/13/2011 from: http://www.infoplease.com /cig/economics/international-monetary-system.html
Kahn, a.A. (19-Jan-2009). International monetary system, globalization, and developing countries. The News, Accessed on 1/13/2011 from: www.opfblog.com/3909/international-monetary-system
Kuczynski, P.P. (1983). Latin American Debt: Act Two, Foreign Affairs, 22-29
Given the high degree to which AIDS impedes global economic integration, in particular of sub-Saharan Africa, it would be reasonable to think that such a transnational issue would bring nations and institutions together to a much higher degree than we see.
Overall, the various aspects of the international system have enabled the expansion of global economic integration. Regimes, institutions, and regional interests bring nations together to meet common objectives. As rational actors, nations sometimes impede global integration, be it over a domestic issue or a transnational one. No aspect of the current international system, however, specifically impedes global economic integration. Only when a nation takes itself out of the international system, as has occurred in North Korea, Cuba, Zimbabwe and a handful of other countries, does economic integration become fully impeded. Therefore we can reasonably conclude that the international system, on balance and with a modicum of cooperation on the…
Goldstein, Judith; Rivers, Douglas & Tomz, Michael. (2003). How does the Trade Regime Affect International Trade? Stanford University. Retrieved December 21, 2008 at http://www.allacademic.com//meta/p_mla_apa_research_citation/0/6/4/3/7/pages64379/p64379-1.php
Wayne, E. Anthony. (2004). NAFTA: Ten Years After. U.S. Department of State. Retrieved December 21, 2008 at http://www.state.gov/e/eeb/rls/rm/31645.htm
No author. (2003). Trade Reforms and Food Security: Conceptualizing the Linkages United Nations. Retrieved December 21, 2008 at http://www.fao.org/docrep/005/y4671e/y4671e00.htm#Contents
Capdevila, Gustavo. (2008). The Death of Doha. Asia Times. Retrieved December 21, 2008 at http://www.atimes.com/atimes/Global_Economy/JG31Dj02.html
characteristics MFS anti-star system? What type person MFS system attract? Explain. 2) Does MFS system a strong weak performance -- pay relationship? What type behavior MFS system motivate? 3) What potential problems major challenges created MFS performance evaluation system? What suggestions managing problems challenges? 4.
MFS Case study
The anti-star system attracted risk-adverse, conservative, relatively non-competitive employees. The stress of the organization was on rewarding overall team performance, rather than on individual excellence. The performance review process drew extensive input from co-workers and linked the forging of effective relationships with colleagues with bonuses and compensation. Workers saw little correlation between pay and hours logged at work and overall output. People made stock 'picks' similar to other employees and the stress was upon not making mistakes and not under-performing, rather than exceeding performance expectations (Hall & Lim 2004: 3).
Q2. Initially, the MFS performance-to-pay relationship was virtually nonexistent and compensation policy…
Hall, Brian J. & Jonathan P. Lim. (2004). Massachusetts Financial Systems. Harvard Business
School Case Study. Cambridge: Harvard Press.
Sociotechnical Systems Work Approaches
The objective of this study is to examine and assess sociotechnical approaches from two perspectives and specifically the historical perspective in regards to evolution of management styles that support and enable a sociotechnical approach and stages of innovation explaining how Rogers' diffusion of innovation informs the implementation of, or lack thereof, sociotechnical system
It is reported that socio-technical systems is a work that sprung from the Tavistock Institute of Human Relations in England and involved the exploration of methods for productivity improvement while raising morale in organization via use of 'action research'. (abson Education, nd, p.1) The primary assumption of socio-technical systems is that organizations 'consist of the relation between a nonhuman system and human system." (abson Education, nd, p.1) The socio-technical view holds that both of the systems must be given consideration "when jointly optimizing the two." (abson Education, nd, p.1) It was additionally explored…
Checkland, P (1981). Systems thinking, systems practice. Chichester: John Wiley & Sons
Nathanael, D. (2002) Socio-technical Systems Analysis: Which approach should be followed? In Cognition, Culture & Design, S. Bagniara, S. Pozzi, A. Rizzo & P. Wright (Eds.), Sienna: Instututo di Sienze et Tecnologie dela Cognizione, 2002, pp. 137-142. Retrieved from: http://ergou.simor.ntua.gr/Docs/Nathanael&Marmaras&Papantoniou&Zarboutis_ECCE11.pdf
Schatz, S. And King, FB (nd) Implementation of Innovation: Evolving Models for Soci-Technical Diffusion of Innovation and Changing Practice. University of Hartford Retrieved from: http://uhaweb.hartford.edu/schatz/paper/implementinnovation.pdf
Simon, H.A. (1976). Administrative behavior. NY: The Free press, 3rd edition.
functions of the International Monetary system, a few significant institutions which deal with foreign currency as well as conclude on which system of exchange rates is more useful in the corporate world.
History of the International Monetary System:
In the start of the economical world, people were commonly in the habit of using the barter system to purchase goods that were in need. With time though, the system of trading gold and silver coins started to evolve. Around the 19th century, officially, countries started issuing themselves a basic currency. This marked as the beginning of the modern day monetary system of trade.
In the Pre-World War era, money unions evolved which enabled people of different countries to easily exchange currencies. In this period of time, there was a low level of financial crisis and economies were growing steadily. However, with the World War going on, global trade and the flow…
Eichengreen, B. (2008). Globalizing capital: A history of the international monetary system. Princeton University Press.
Stein, J.L. (1997). Fundamental determinants of exchange rates. University of Oxford.
The World Bank (2005). Getting to know the world bank: A guide for young people. The World Bank
Thornton, R.C. (2001). The nixon-kissinger years: Reshaping America's foreign policy. Paragon House.
American Tax System vs. Other Countries
The federal government first imposed an individual income tax in 1862 as an emergency means of financing the Civil ar. It also established the Bureau of Internal Revenue, predecessor of the Internal Revenue Service. Tax rates were 3% on income from $600 to $10,000 and 5% on income above $10,000. Later in the war the maximum rate increased to 10% of income." (Encarta)
My how times have changed. This paper will compare the tax systems of four different countries to the American tax system. The four countries that have been chosen are South Africa, Mexico, Hong Kong, and New Zealand..
First lets attempt to briefly (if that were possible) explain the American tax system.
The American Tax System
America has a progressive tax system meaning the greatest tax burden is on people who have the most income. The American tax system can be described…
Corporate Service Center. "Federal Tax Rates." http://www.corporateservicecenter.com/Corp/federal_tax_rates.htm. April16, 2002
Film New Zealand. "New Zealand's tax Environment." Jan. 2002 http://www.filmnz.com/filmnz/Content/Production/Development/Taxation/Taxation.html
Flags of the World. http://www.crwflags.com/fotw/flags/mx.html . April17, 2001
Henry, Aaron. "The South African Tax System: A Nation is Microcosm." Dec. 6,1999:
ules and Institutions of the Bretton Woods System
The increasing popularity of the importance of monetary unions has gained much focus in the recent past. Most states consider forming monetary unions a solution to most of their financial problems. However, they fail to realize the challenges associated with its establishment and sustainability. Therefore, this research paper analyzes two different monetary unions, their policies, failures and successes and lessons learnt from their experiences for future success of the monetary unions.
The key design features of the System
The system was designed with the fundamental aim of establishing an international financial system to overcome the real and perceived financial problems. Among the problems included the competitive devaluation, subordination of the monetary policy in relation to the external bane and the need for the establishment of a system that facilitated exchange rates for different foreign transactions (Eichengreen, 2004). The design of the system…
Ardy, B., 2000. Economic and monetary union: A review article. JCMS: Journal of Common
Market Studies, 38 (7), p.667.
Avgouleas, E. 2010. The governance of global financial markets and international financial regulation: Legal framework and policy directions. Cambridge: Cambridge Univ. Press.
Bernstein, E.M., and Kirshner, O. 1996. The Bretton Woods GATT system: Retrospect and prospect after fifty years. Armonk, NY [u.a.: Sharpe.
Role of Information Systems in Marketing
The objective of this study is to examine the role of information systems in marketing in terms of the information that is necessary for decision making. Additionally this work will examine the role of IS for this function within the organization and the benefits of IS for the functional users at the operational level, the use of data at all levels of the organization and how IS has affected processes for this functional perspective.
Decision Making and the Marketing Information System
The work of Ismail (2011) entitled "The Role of Marketing Information System on Decision Making: An Applied Study on Royal Jordanian Air Lines (RJA)" reports a study that has the objective of emphasizing the importance of the utilization of the marketing information system (MKIS) on decision-making through making clear the requirement for decision-making that is both "quick and effective…due to time saving and…
Bahloul, MY (nd) The Role of Marketing Information System Technology in the Decision Making Process Case Study: The Banking Sector in Gaza Strip. Islamic University of Gaza. Retrieved from: http://library.iugaza.edu.ps/thesis/98936.pdf
Chapter 9: Marketing Information Systems (nd) FAO Corporate Document Repository. Retrieved from: http://www.fao.org/docrep/w3241e/w3241e0a.htm
Hansen, W, (2000). Internet Marketing, Cincinnati, Ohio: South-Western Publishing.
Harmon, RB (2003) Marketing Information Systems. Retrieved from: http://www.iped-uk.com/marketing_information_system.pdf
Mediocre material will, likely, thus be introduced into the market, and fledgling authors discouraged. This may in a matter of fact not only prove detrimental for general culture but also for the store itself, since discouraged with the level of prevalent reading matter, potential customers may frequent other locations for their desires.
Conclusively, as an example of Mr. Flaherty's impact on the book-selling business, relaxation of tax demands on private investment may profit the business depending on its projects and ambitions. The more ambitious its projects, likely the more it may profit. I am unsure, however, how much 3 's Used Books can make itself independent from dealing with the U.S. Or with other countries; a bookstore, by nature, has to have international dealings in order to succeed. As regards the economic policies, particular to Ontario, passed in 2009, the bookstore, can with provisos, mostly benefit form their implementation.
Bloomberg. "Comfortable Business will replace Stimulus." Business Week, Oct. 23, 2010.
Howlett, K. & Curry, B. "Canadian Finance Ministers to Target Debts and Deficits in New Year." Tuesday's Globe and Mail, Dec. 21, 2010.
Ontario Chamber of Commerce. "Economic renewal and Business Competitiveness." http://occ.on.ca/2009/05/economic-renewal-and-business-competitiveness-emerge-as-ontario-business-priorities / Web. 2009
5. What are the top 3 in monetary costs for capital improvement projects recommended for the ensuing fiscal year?
The top 3 costs for Special Warrant Articles for the upcoming budget are: The GMS site de-watering study (including design and cost) at $86,000, GMS/LMS safety locks and video surveillance at $56,431 and finally LMS Emergency Access Road at $44,000.
6. Excluding food service sales what are the top 3 revenue budget lines for the year 05/06?
The top three revenue line for the school year were: Federal Program Grant at $239,042, State School Building Aid at $238,392.16 and revenue from Other Local Sources at $165,049.
7. What is the total dollar amount for appropriations recommended by the School Board?
The total amount recommended by the School Board for the upcoming year is $19,514,314. This includes the $259,854 appropriated to Special Warrant Articles as well as the $19,254,460 appropriated for all…
The current accounting system at Pappadeaux is fundamentally flawed, and the result is distorted performance figures for managers. Appendix A contains the basic income statement that Harry is using to evaluate Gregory, with variance noted. However, Gregory should not be evaluated on matters that do not relate to his performance. A significant portion of the poor performance against the budget relates to elements of the budget that were out of Gregory's control. For example, all food is purchased at head office; overhead is allocated by head office; utility rates cannot be controlled, only usage; Harry granted supervisors a raise; rent is established by corporate head office; taxes are out of Gregory's control.
With respect to food costs, a variance budget would show that the food expense should be 1/3 of sales, based on the budget. This implies that the food budget should have been $266,666 but was $240,000. This…