...Ang Bonifacio Savings at Loan Association (BSLA) sa kanyang huling buwanang pakonsulta pulong para sa taon nagpasya upang sumakay sa bapor sa isang isang-taon na programa na deposito kampanya. Naka-dub bilang "pagganyak Employee Program (EMP)" BSLA, ang deposito kampanya na naglalayong upang taasan ang deposit mga antas na kung saan ay BSLA'a tradisyonal na pinagmulan ng mga pondo. Mr Danillo Lagman , VP para sa mga pagpapatakbo , ay pinili bilang pangkalahatang coordinator programa . Pagkatapos ng isang buwan ng paghahanda , Mr Lagman at ang kanyang mga tauhan ay handa na upang ilunsad ang EMP . Sa ilalim ng mga alituntunin , mga opisyal ng bangko at mga empleyado ay naibigay na award credits para sa bawat account naka- in puntos ay batay sa balanse ng pagbubukas at ang kanilang mga average na balanse pagkatapos. Ang mga kalahok ay nahahati sa mga koponan , na may isang branch / division na kumakatawan sa isa koponan . Upang subaybayan ang progreso ng EMP , hihingin kliyente surrendered panguna card na ibinigay sa kanila sa pamamagitan ng EMP ' kalahok. Passbooks / deposit certificate ay pagkatapos na minarkahan ng ang logo ng EMP . Bilang karagdagang insentibo , bukod sa mga indibidwal na mga bonus Naabot tukoy na mga antas ng credit , mga espesyal na mga bonus na ibinibigay sa mga koponan kung tina-target ng grupo ay natugunan . Credits award Personal na koponan Nagkamit ay summarized at ipinamamahagi sa dulo ng bawat buwan sa loob ng deposito panahon ng kampanya . Ang mas...
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...REPUBLIC OF THE PHILIPPINES NATIONAL CAPITAL JUDICIAL REGION REGIONAL TRIAL COURT Branch 260 - Paranaque City RENZ XAVIER V. LEGASPI Petitioner, -versus- Civil Case No. _____________ For: Declaration of Nullity of Marriage LISETTE BANCOSTA-LEGASPI Respondent. X - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - X PETITION COMES NOW, Petitioner, RENZ XAVIER V. LEGASPI, by counsel and unto this Honorable Court, respectfully states and alleges THAT – I. THE PARTIES (1) Petitioner RENZ XAVIER LEGASPI is of legal age, married to the respondent, and with residence and postal address at 056 Loma, Amadeo, Cavite 4119. For purposes of this Petition, he may be served with pleadings and other court processes at her counsel’s law office at Suite 104 Helfenstein Holding Corp. (HHC) Building, Victoria corner Basco Sts., Intramuros, Manila. (2) Respondent is likewise of legal age, Filipino citizen, married to the Petitioner and with residence and postal address at Blk 4 lot 17 Phase E Windward Hills Subdivision Dasmariñas, Cavite she may be served with summons, pleadings and other court processes. II. THE FACTS and CAUSE OF ACTION (3) The respondent and petitioner met...
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...Case Analysis Case Analysis Case: BONIFACIO SAVINGS AND LOANS ASSOCIATION The Bonifacio Savings and Loan Association (BSLA) in its consultative meeting for the year decided to embark on a one year deposit campaign program. Dubbed as BSLA’s “Employee Motivation Program (EMP)”, the deposit campaign is aimed to increase deposit levels which was BSLA’s traditional source of funds. Mr. Danilo Lagman, VP for operations, was chosen as overall program coordinator. After a month of preparation, Mr. Lagman and his staff is ready to launch the EMP. Under the guidelines, bank officers and employees were given account credits for every account turn in. Points were based on the operating balance and their average balances thereafter. The participants were divided into teams, with one branch/division representing one team. To monitor progress of the EMP, solicited clients surrendered introductory cards given to them by the EMP participants. Passbook/deposits certificates were then marked with the EMP logo. As an added incentive, aside from individual bonuses specific credit levels reached, special bonuses were given to teams if group targets were met. Personal and team award credits earned were summarized and distributed at the end of each month within the deposit campaign period. The more award credits earned, the more expensive the merchandise that can be redeemed. The list of prizes included calculators, watches, living room, and microwave ovens, and others. Mr. Panganiban head...
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...1 CASE NO. 1 BONIFACIO SAVINGS AND LOANS ASSOCIATION (BSLA) MGT 131 GROUP __ MEMBERS SIGNATURE ESTINO, RAIZA GUTIERREZ, ISABELLE B. Xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx Xxxxxxxxxxxxxxxxxxxxxxx _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ 2 I. Point of View Mr. Danilo Lagman’s stand point is taken into consideration in analyzing the case of Bonifacio Savings and Loans Association. Mr. Lagman is the Vice President for operations. It was a well-known fact that Mr. Lagman would take the place of Mr. Panganiban, head of Accounting Division, who introduced a one-year deposit campaign program dubbed as Bonifacio Savings and Loan Association’s “Employee Motivation Program (EMP)”. Mr. Lagman was chosen as the overall coordinator of the said program. Thus, he is the one expected to manage and control the EMP. As the manager of the program, he is responsible to continually monitor the progress of the campaign thus includes seeking for improvement and satisfactory performances. II. Statement of the Problem The BSLA decided to embark on one year- deposit campaign program, the EMP which aims to increase deposit levels which was BSLA’s traditional source...
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...how might businesses and consumers change their economic behavior? Businesses would cut investment spending because the cost of financing this spending is now higher, and consumers would be less likely to purchase a house or a car because the cost of financing their purchase is higher. 3- How can a change in interest rates affect the profitability of financial institutions? A change in interest rates affects the cost of acquiring funds for financial institution as well as changes the income on assets such as loans, both of which affect profits. In addition, changes in interest rates affect the price of assets such as stock and bonds that the financial institution owns that can lead to profits or losses. 4- Is everybody worse off when interest rates rise? No. People who borrow to purchase a house or a car are worse off because it costs them more to finance their purchase; however, savers benefit because they can earn higher interest rates on their savings. 5- What effect might a fall in stock prices have on business investment? The lower price for a firm’s shares means that it can raise a smaller amount of funds, and so investment in plant and equipment will fall. 6- What effect might a rise in stock prices have on consumers’ decisions to spend? Higher stock prices mean that consumers’ wealth is higher and so they will be more likely to increase their spending. 7- How does a decline in the value of pound sterling affect British consumers? It makes foreign...
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...CHAPTER 4 Establishing New Banks, Branches, ATMs, Telephone Services, and Web Sites Goal of This Chapter: The purpose of this chapter is to learn how new banks are chartered by state and federal authorities in the United States, to determine what makes a good site for a new branch office, to recognize how the role of branch offices is changing, and to explore the advantages and disadvantages of automated banking facilities. Key Topics in This Chapter • Chartering New Financial-Service Institutions • The Performance of New Banks • Establishing Full-Service Branches and In-Store Branching • Establishing Limited-Service Facilities • ATMs and Telephone Centers • The Internet and Online Banking Chapter Outline I. Introduction A. The Importance of Convenience and Timely Access to Customers B. Service Options Available Today 1. Chartering New (De Novo) Financial Institutions 2. Establishing New Full-Service Branch Offices 3. Setting Up Limited-Service Facilities II. Chartering a New ( De Novo ) Financial-Service Institution III. The Bank Chartering Process in the United States A. The Chartering Authorities in the U.S. B. Benefits of Applying for a Federal (National) Charter C. Benefits of Applying for a State Charter IV. Questions Regulators Usually Ask the Organizers of a New (De Novo) Bank ...
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...History 1900 | Act No. 52 was passed by the First Philippine Commission placing all banks under the Bureau of Treasury. The Insular Treasurer was authorized to supervise and examine banks and banking activities. | | | February 1929 | The Bureau of Banking under the Department of Finance took over the task of banking supervision. | | | 1939 | A bill establishing a central bank was drafted by Secretary of Finance Manuel Roxas and approved by the Philippine Legislature. However, the bill was returned by the US government, without action, to the Commonwealth Government. | | | 1946 | A joint Philippine-American Finance Commission was created to study the Philippine currency and banking system. The Commission recommended the reform of the monetary system, the formation of a central bank and the regulation of money and credit.The charter of the Central Bank of Guatemala was chosen as the model of the proposed central bank charter. | | | August 1947 | A Central Bank Council was formed to review the Commission’s report and prepare the necessary legislation for implementation. | | | February 1948 | President Manuel Roxas submitted to Congress a bill “Establishing the Central Bank of the Philippines, defining its powers in the administration of the monetary and banking system, amending pertinent provisions of the Administrative Code with respect to the currency and the Bureau of Banking, and for other purposes. | | | 15 June 1948 | The...
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...Lecture Notes on MONEY, BANKING, AND FINANCIAL MARKETS Peter N. Ireland Department of Economics Boston College irelandp@bc.edu http://www2.bc.edu/~irelandp/ec261.html Chapter 2: An Overview of the Financial System 1. Function of Financial Markets and Financial Intermediaries 2. Structure of Financial Markets Debt and Equity Markets Primary and Secondary Markets Exchanges and Over-the-Counter Markets Money and Capital Markets 3. Financial Instruments Money Market Instruments Capital Market Instruments 4. Role of Financial Intermediaries Transaction Costs and Economies of Scale Risk Sharing and Diversification Adverse Selection and Moral Hazard 5. Types of Financial Intermediaries Depository Institutions (Banks) Contractual Savings Institutions Investment Intermediaries This chapter provides an overview of the financial system in the US economy by describing the various types of financial markets, financial instruments, and financial institutions or intermediaries that exist. 1 The chapter begins with a general statement that clarifies what function financial markets and financial intermediaries have in the economy as a whole. It then deals more specifically with: The structure of financial markets and the ways in which different types of financial markets can be distinguished. Here, it discusses debt versus equity markets, primary versus secondary markets, exchanges versus over-the-counter markets, and money versus capital markets. The various types of financial instruments, including...
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...how might businesses and consumers change their economic behavior? Businesses would cut investment spending because the cost of financing this spending is now higher, and consumers would be less likely to purchase a house or a car because the cost of financing their purchase is higher. 3- How can a change in interest rates affect the profitability of financial institutions? A change in interest rates affects the cost of acquiring funds for financial institution as well as changes the income on assets such as loans, both of which affect profits. In addition, changes in interest rates affect the price of assets such as stock and bonds that the financial institution owns that can lead to profits or losses. 4- Is everybody worse off when interest rates rise? No. People who borrow to purchase a house or a car are worse off because it costs them more to finance their purchase; however, savers benefit because they can earn higher interest rates on their savings. 5- What effect might a fall in stock prices have on business investment? The lower price for a firm’s shares means that it can raise a smaller amount of funds, and so investment in plant and equipment will fall. 6- What effect might a rise in stock prices have on consumers’ decisions to spend? Higher stock prices mean that consumers’ wealth is higher and so they will be more likely to increase their spending. 7- How does a decline in the value of pound sterling affect British consumers? It makes foreign...
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...Finman Letter B. Example of stock saving and loan association In Philippines, there are several savings and loans associations. The Metropolitan Bank and Trust Company, and the Bank of the Philippine Islands (BPI) are two. Minnesota Federal Savings and Loan merged with First Federal Savings and Loan in the mid-80's to form First Minnesota Savings Bank... The New Bank! Norwest Banks absorbed First Minnesota in 1989 or 1990 and has since gone on to become Wells Fargo. I worked in Minnesota Federal's data center and rode out all of the afore mentioned mergers/acquisitions. Letter J Open domestic letter of credit * A written commitment to pay, by a buyer's or importer's bank (called the issuing bank) to the seller's or exporter's bank (called the accepting bank, negotiating bank, or paying bank). A letter of credit guarantees payment of a specified sum in a specified currency, provided the seller meets precisely-defined conditions and submits the prescribed documents within a fixed timeframe. These documents almost always include a clean bill of lading or air waybill, commercial invoice, and certificate of origin. To establish a letter of credit in favor of the seller or exporter (called the beneficiary) the buyer (called the applicant or account party) either pays the specified sum (plus service charges) up front to the issuing bank, or negotiates credit. Letters of credit are formal trade instruments and are used usually where the seller is unwilling to extend credit to the...
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...Lecture Notes on MONEY, BANKING, AND FINANCIAL MARKETS Peter N. Ireland Department of Economics Boston College irelandp@bc.edu http://www2.bc.edu/~irelandp/ec261.html Chapter 2: An Overview of the Financial System 1. Function of Financial Markets and Financial Intermediaries 2. Structure of Financial Markets Debt and Equity Markets Primary and Secondary Markets Exchanges and Over-the-Counter Markets Money and Capital Markets 3. Financial Instruments Money Market Instruments Capital Market Instruments 4. Role of Financial Intermediaries Transaction Costs and Economies of Scale Risk Sharing and Diversification Adverse Selection and Moral Hazard 5. Types of Financial Intermediaries Depository Institutions (Banks) Contractual Savings Institutions Investment Intermediaries This chapter provides an overview of the financial system in the US economy by describing the various types of financial markets, financial instruments, and financial institutions or intermediaries that exist. 1 The chapter begins with a general statement that clarifies what function financial markets and financial intermediaries have in the economy as a whole. It then deals more specifically with: The structure of financial markets and the ways in which different types of financial markets can be distinguished. Here, it discusses debt versus equity markets, primary versus secondary markets, exchanges versus over-the-counter markets, and money versus capital markets. The various types of financial instruments...
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...was the Savings and Loans crisis? What caused it? Could the crisis have been prevented? How? The savings and loan crisis was the greatest banking collapse since the great depression. Emerging in the 1970’s and escalating during the 1980’s, by 1989 over half of the United States savings and loan associations along with the Federal Savings and Loan Insurance Corporation fund that was created to insure their deposits had collapsed. The overwhelming cost of the savings and loan crisis still astounds many taxpayers, depositors, and policymakers today. This savings and loan experience produced three valuable lessons: excessive regulation was the initial cause of the industry's problems; federal deposit insurance was ultimately responsible for the high costs of this crisis; government sponsored efforts to protect the industry only invited abuses and increased the ultimate cost of restructuring (England). The foremost cause of the saving and loan crisis was the high inflation levels that occurred during the 1970’s. Savings and loan institutions depended on residential mortgages for income. During the 1970’s these institutions began losing money on fixed rate loans because the interest rates set were created in previous years when interest rates were well under the rate of inflation. Congress subsequently decided to allow the savings and loans to diversify into riskier and more profitable commercial real estate and relaxed lending requirements to prevent the savings and loans from...
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...This report covers the audit failure of TierOne Bank that was hiding millions of dollars in loan losses from investors and banking regulators during the financial crisis in 2008 and finally filed for bankruptcy in 2010. Incorporated in 1907, the TierOne Bank acts as First Federal Savings and Loan Association located in Lincoln, Nebraska. After a change of the name to First Federal Lincoln Bank in 1995 and a rechange to TierOne Bank in 2002, the bank was established as a wholly owned subsidiary of TierOne Corporation. In the same year TierOne completed a mutual-to-stock conversion and shares of TierOne Corporation began to sellwere sold in an Initial Public Offering (IPO). The shares were traded on NASDAQ. Before the IPO, the main business was to set the focus on was set on residential and agricultural loans in the Nebraska/Iowa/Kansas region. With the IPO, especially with the obtained capital from stock conversions, TierOne expanded its operations into areas outside of the thrift’s traditional geographical market. For example, in 2004, the bank engaged in high-risk types of lending in regions such as Las Vegas, Florida and Arizona, which were experiencing unusual, rapid escalation in market values. From 2002 through 2005, TierOne opened or acquired nine loan production offices (LPO), covering six states. The primary purpose of the LPOs was to originate construction and land development loans. This shift in the corporation’s strategy made the bank particularly vulnerable to the fallout...
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...Running Header: Special Interest Special Interest Jermall Cuffee Professor: Dr. Jane El-Yacoubi POL 110 03/03/13 So, when the election is all over. What can the average American do to stay involved in the political arena and not have to wait for the next election? There is one significant way of influencing American government and that is through an Interest Group. Interest Groups also known as advocacy groups, lobbying groups or special interest, are in place to persuade or prevent changes in public policies. They exist for the solemn purpose of conveying the views and defending the interest of a part of society to public officials. There are all types of interest groups in America from animal rights groups to public interest groups to citizen groups. Interest groups get there start when James Madison developed the theme in “The Federalists (No. 10). In it he discussed factions, which was his term for interest groups and Madison believed that will always have diverse interest especially when it comes to economic circumstances and property ownership. Even though interest groups can be found deeply rooted in many different traditions and cultures such as Germany, they are common threads that can be observed in the development of interest groups mostly in Western industrial societies. There are about four phases in which the development of interest groups can be viewed. In what is called the first phase or the preindustrial phase beginning in the 1830s to the 1870s, there...
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...Case Study: Lincoln Savings and Loan Association In 1978, Charles Keating, Jr. began focusing his time and energy on his business endeavours when he founded the real estate firm, American Continental Corporation (ACC). Six years later, ACC acquired Lincoln Savings and Loan Association, which was headquartered in Phoenix, although its principal operations were in California. In his application to purchase Lincoln, Keating pledged to regulatory authorities that he would retain the Lincoln management team, that he would not use brokered deposits to expand the size of the savings and loan, and that residential home loans would remain Lincoln's principal line of business. After gaining control of Lincoln, Keating replaced the management team; began accepting large deposits from money brokers, which allowed him to nearly triple the size of the savings and loan in two years; and shifted the focus of Lincoln's lending activity from residential mortgage loans to land development projects. On 14 April 1989, the Federal Home Loan Bank Board (FFILBB) seized control of Lincoln Savings and Loan, alleging that Lincoln was dissipating its assets by operating in an unsafe and unsound manner. On that date, Lincoln's balance sheet reported total assets of $5.3 billion, only 2.3 percent of which were investments in residential mortgage loans. Nearly two-thirds of Lincoln's asset portfolio was invested directly or indirectly in high-risk land ventures and other commercial development projects. At...
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