...Federal Reserve? _ The U.S. central bank whose liabilities serve as cash to the United States. ◦_ Six explicit functions. _ Composed of 12 regional banks _ Ran by the Board of Governors ◦_ Seven members. _ Federal Open Market Committee ◦_ The Fed’s chief body that decides monetary policy . Duties of the Federal Reserve • Conducting monetary policy (influencing the supply of money and credit in the economy). • Supervising and regulating financial institutions. • Serving as a lender of last resort to financial institutions. • Providing banking services to the U.S. government. • Issuing coin and currency. • Providing financial services (such as check clearing) to commercial banks, savings and loan associations, savings banks, and credit unions. Monetary Policy _ Policy of influencing the economy through changes in the banking system’s reserves that influence the money supply and credit availability in the economy. _ Three Tools ◦_ Open Market Operations ◦_ Discount Rate ◦_ Reserve Requirements _ Types of monetary policies ◦_ Expansionary ◦_ Contractionary Open Market Operations _ The Feds buying and selling of government securities. _ To expand the money supply, the Fed buys bonds. _ To contract the money supply, the Fed sells bonds. The Reserve Requirement _ The percentage the Federal Reserve Bank sets as the minimum amount of reserves a bank must have. _ Discount Rate ◦_...
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...1. Differentiate Any financial institution that looks like, acts like, or sounds like other banks and credit unions can’t complain when they are forced to compete on rates, fees and price. Differentiation is the key to a strong brand. 2. Personal communications You hear financial institutions bragging about how personal they are all the time, but Tim McAlpine, President of Currency, wonders how often they send handwritten thank you cards for loans, mortgages and renewals. How often do your employees make phone calls to customers thanking them for their business? Imagine how much love you could buy with a simple expression of appreciation. How many direct marketing messages do you send that start with “Dear Valued Customer…?” 3. Mobile solutions If your financial institution isn’t offering some form of mobile banking service currently, there had better be plans underway or you risk falling behind competitively. Demand for services like remote deposit, SMS, and apps for smart phones and iPads is growing rapidly, and are quickly becoming common consumer expectations. (See also, The Very Mobile Future of Retail Banking.) 4. Identify profitable customers How can you focus on cultivating profitable relationships if you don’t first understand who profitable customers are, why they are profitable and how they got that way. For credit unions, Paul Stull, SVP/Arizona State Credit Union, says that “if you look at your most unprofitable members, you will find that they...
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...Management and Leadership INTRODUCTION Great management can caring leaders are important aspects to an effective and efficient company. While Jeep Country Federal Credit Union’s managers are beginning to improve, we still lack strong leaders. The employees at the credit union are out for themselves only; they could care less if they left anyone behind. This paper will discuss the difference between management and leadership as long with the roles and responsibilities that both play in maintaining a healthy organizational culture. This paper will also address the affects of globalization and management across borders. Along with the previously mentioned information, this paper will also include two strategies that managers and leaders can use to maintain a healthy organizational culture. MANAGEMENT VS LEADERSHIP While management and leadership are two different key factors of a company, they go hand in hand with each other when it comes to having a successful company. Management is a process of working with others to achieve a common goal. Leadership is a characteristic or ability one possesses to lead, direct and influence others to do the best they possibly can. Anyone can be a leader. To be a leader would mean taking that one step up above the expected to bring out the best of your co-workers. A leader should be considerate of all employees’ needs, wants and feelings as well as what is best for the business. Once the leader has gathered all of the information...
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...INTEREST RATE 10 3.2.7 EXCHANGE RATE 11 3.2.8 BALANCE OF PAYMENT 11 4.0 IMPORT AGAINST REAL GDP 12 4.1 IMPORT AGAINST CPI 12 4.2 IMPORT AGAINST UNEMPLOYMENT 13 4.3 IMPORT AGAINST INTEREST RATE 13 4.4 IMPORT AGAINST EXCHANGE RATE 14 4.5 IMPORT AGAINST B.O.P 14 4.6 EXPORT VS REAL GDP 15 4.7 EXPORT VS CPI 15 4.8 EXPORT VS UNEMPLOYMENT 16 4.9 EXPORT VS INTEREST RATE 16 4.10 EXPORT VS EXCHANGE RATE 16 4.11 EXPORT VS B.O.P 17 4.12 IMPORT VS OTHER FACTORS 18 4.13 EXPORT VS OTHER FACTORS 18 5.0 ISSUES AND CHALLENGES OF GERMANY 19 5.1 Exporting German Troubles 19 5.2 Industrial Competitiveness 19 5.3 Paying for Europe 20 6.0 RECOMMENDATION AND CONCLUSION 21 6.1 RECOMMENDATION 21 6.2 CONCLUSION 21 References 22 1.0 INTRODUCTION 1.1 BACKGROUND OF GERMANY Germany which is otherwise called the federal republic of Germany which is additionally the parliamentary republic in the western-focal piece of Europe which comprises of 16 bodies electorate and which has held its predominance. Its capital is Berlin and its landmass covers a zone of 357,021 square kilometers and has a mild occasional atmosphere. Germany with in excess of 80.6 million tenants is the most crowded part state in the European Union and has the lion's share power regarding monetary and political. It is consequently adequate that Germany is the second most populated environ on the planet. 1.1.0 PEOPLE AND SOCIETY OF GERMANY At present, the number of inhabitants...
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...we will be analyzing the importance of having strategic planning in banking performance by SWOT analysis. Study Foundations First of all, what is Strategic Planning (SP)? SP is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources pursue this strategy. There are four key components in SP, which are Vision – what do we want to do, Mission – what might we do, Value – for whom do we do it, and Strategy – what should we do (Wiki). Vision outlines what the organization wants to be, or how it wants the world in which it operates to be (an “idealized” view of the world). It is a long-term view and concentrates on the future. It can be emotive and is a source of inspiration. In bank, specifically, fund raising might have a vision statement, which reads “To become a world-class financial institution that provides superior returns for all...
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...SCHEMES OF WORK – COMMERCE (GRADE TEN) SCHEMES OF WORK – COMMERCE (GRADE TEN) WEEKLY SCHEDULE(3 periods a week) | TOPICS AND CONTENT | LEARNING OBJECTIVES- Students will be able to: | TEACHINGSTRATEGIES | SUGGESTED ACTIVITIES | RESOURCES | ASSESSMENT | 1. Introduction to Commerce | | | | | | 1 | A) Organizational Structure of Commerce | 1. Define the terms within the organizational structure. 2. Draw up and complete the organizational structure of commerce. | Graphic OrganizerMnemonic Strategies | Question and AnswerIllustrationsBingo | Wall ChartsMini chart print outs Commerce Textbooks: (Listing of texts attached) | Quizzes:-Chart completion-DefinitionsBingo Games | | B) Needs and Wants | 3. Distinguish between needs and wants. 4. Discuss the role played by producers in the satisfaction of consumer needs and wants | SPAR ( Spontaneous Argumentation)Graphic Organizer | DiscussionsQuestion and Answer | Commerce TextbooksPowerPoint PresentationInternetLaptop | Assignment-categorizing needs and wants. | 1 | C) Economic Systems | 5. Identify and explain types of economic systems | Graphic Organizer | Questions and Answers | Chart PrintoutsCommerce Textbooks | Quiz | 1 | D) Direct and Indirect Production | 6. Distinguish between direct and indirect production 7. List and explain the commercial occupations. | Graphic OrganizerCooperative learningMnemonic Strategies | Role playDiscussionsGraphic Organizer | Commerce Textbooks | Assignment-categorizing...
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...financial markets. You may highlight what happened in the global economy in recent past (say April- early August 2011) and that would set your platform for undertaking this study (business research report). Allow 1-1.5 pages for this section. Post GFC the global economy in my opinion is still reverberating with the ramifications of this tragic event. The tipping point of consumer and business credit has left the global economy “cooling down” by policies and recommendations of FDIC the federal deposit insurance corporation and TARP Troubled Asset Relief Program. The growth for the two largest economies is decelerating (R.Miller 2011) as finance ministers and central bankers arrive at the semi-annual meeting of the International Monetary Fund and World Bank. The increasing price of petrol has lowered consumer and business disposable income worldwide, and in the U.S budget cuts and a tighter monetary policy has limited the demand in China. The third largest economy Japan is recovering from the aftermath of the recent earthquake. While in Europe the possibility of a divided European Union becomes a probability for some members of the trading block as the debt crisis has claimed its third victim Portugal The objective of the study is to somehow interpret and create a better understanding of global and economic events and how these events affect the financial markets in the past, present and future for both local and international markets. 2. Sources of data/methodology: ...
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...requirements – the extent and degree to which the types of formal education and training available in a given country fits the needs of productive enterprises on all levels of skill and achievement. Socio-cultural factors • View toward industrial managers and management – attitude toward industrial and business managers of all sorts, and the way that such managers tend to view their managerial jobs • View of authority and subordinate – attitude toward authority and persons in subordinate positions and the way industrial managers tend to view their authority and their subordinates • Inter-organizational cooperation – extent and degree to which business enterprises, government agencies, labor unions, educational institutions and other relevant...
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...Effectiveness…………………………………………………………..2 Section 2: Information Systems Concepts………………………………………………….....4 Overview……………………………………………………………………………..4 LAN vs. WAN………………………………………………………………………..4 Wi-Fi………………………………………………………………………………….5 Telecommuting……………………………………………………………………….5 Section 3: Business Information Systems………………………………………………………7 Overview……………………………………………………………………………..7 Transaction Processing Systems……………………………………………………7 Management Information Systems…………………………………………………8 Decision Support Systems…………………………………………………………..8 Artificial Intelligence………………………………………………………………..9 Section 4: System Development………………………………………..………………..……10 Overview…………………………………………………………………..…...…..10 Waterfall Method…………………………………………………….……………10 Prototype Method…………………………………………………………………10 System Design………………………………………………………….…………..11 Section 5: Information Systems and Society…………………………………………………13 Section 1: Information System Overview Organization Overview USA is a medium size credit union that was founded in 1948 and has grown to over half million members’ worldwide and about 6 billion in assets. USA operates 71 branches in four states and ATMs in a fifth all along the west coast. We operate a very diverse IT department, it is the second largest in the credit union after all the branch staff. We currently have two mirrored data centers, one in Alaska and the other is Arizona....
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...Types Of Financial Institutions And Their Roles Commercial Banks Commercial banks accept deposits and provide security and convenience to their customers. Part of the original purpose of banks was to offer customers safe keeping for their money. By keeping physical cash at home or in a wallet, there are risks of loss due to theft and accidents, not to mention the loss of possible income from interest. With banks, consumers no longer need to keep large amounts of currency on hand; transactions can be handled with checks, debit cards or credit cards, instead. Commercial banks also make loans that individuals and businesses use to buy goods or expand business operations, which in turn leads to more deposited funds that make their way to banks. If banks can lend money at a higher interest rate than they have to pay for funds and operating costs, they make money. Banks also serve often under-appreciated roles as payment agents within a country and between nations. Not only do banks issue debit cards that allow account holders to pay for goods with the swipe of a card, they can also arrange wire transfers with other institutions. Banks essentially underwrite financial transactions by lending their reputation and credibility to the transaction; a check is basically just a promissory note between two people, but without a bank's name and information on that note, no merchant would accept it. As payment agents, banks...
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...Chapter 5 Consumer Credit: Advantages, Disadvantages, Sources, and Costs McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Consumer Credit Chapter Objectives 1. Analyze advantages and disadvantages of using consumer credit 2. Assess the types and sources of consumer credit 3. Determine whether you can afford a loan and how to apply for credit 4. Determine the cost of credit by calculating interest using various interest formulas 5. Develop a plan to protect your credit and manage your debts 5-2 Objective 1 Analyze Advantages and Disadvantages of Using Consumer Credit • Credit – An arrangement to receive cash, goods or services now, and pay for them in the future – Based on trust in people’s ability and willingness to pay bills when due • Consumer credit – Use of credit by individuals for personal needs, except a home mortgage – A major force in our economy 5-3 Uses and Misuses of Credit • Before you use credit for a major purchase, consider: – – – – – – Do I have the cash for the down payment? Do I want to use my savings for this purchase? Does the purchase fit my budget? Could I use the credit I’ll need in some better way? Can I postpone this purchase? What are the opportunity costs of postponing this purchase? – What are the dollar and psychological costs of using credit for this purchase? 5-4 Advantages of Credit • Current use of goods and services • Permits purchase even when funds are low • A...
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...Canadian families make on their mortgages, allow Canadian families to build up equity in their homes more quickly, and help Canadians pay off their mortgages before they retire. * Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes. This will promote saving through home ownership and limit the repackaging of consumer debt into mortgages guaranteed by taxpayers. * Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit, or HELOCs. This will ensure that risks associated with consumer debt products used to borrow funds unrelated to house purchases are managed by the financial institutions and not borne by taxpayers. What are the relevant regulatory agencies or bodies? Describe their roles. The Office of the Superintendent of Financial Institutions (OSFI) regulates federally licensed banks, trust companies, insurance companies, credit unions and some provincial financial institutions. It was created in 1987 to supervise the financial institutions and to build consumer confidence in the Canadian financial system by reducing unjust losses. The Office of the Superintendent of Financial Institutions is an independent agency, that has to report to Parliament through the Minister of Finance. Some of their duties include: providing input for new legislation and regulations, monitoring the safety and soundness of federal institutions, approving...
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...potential scenarios…. 3. … And implications for MENA Banks 4. Concluding remarks © Oliver Wyman LON-FSP22401-197 1 1 AQR and stress test: setting a new standard for banking supervision Since the start of the Eurozone crisis a number of AQRs and stress tests have been carried out in Europe with relevant impact on the Banks Greece – ’11 Ireland – ‘10 Spain – ‘12 • Economy: ~2% GDP EU • Asset Quality Review • Credit Loss Projections • Loss Absorption Capacity • • • • Capital shortfall ~€24mld Economy: ~12% GDP EU Asset Quality Review Credit Loss Projections Loss Absorption Capacity • • • • Economy: ~2% GDP EU Asset Quality Review Credit Loss Projections Loss Absorption Capacity Capital shortfall ~€50mld Capital shortfall ~€60mld Cyprus – ’12 • • Portugal – ’11 • • • • • Economy: ~2% GDP EU Asset Quality Review Credit Loss Projections Loss Absorption Capacity Capital shortfall ~€7mld • Economy: ~0.2% GDP EU Asset Quality Review Credit Loss Projections Loss Absorption Capacity Capital shortfall ~€6mld Slovenia – ’13 • Economy: ~0.4 % GDP EU Capital shortfall ~€4.8mld © Oliver Wyman LON-FSP22401-197 3 A new, Eurozone-wide Asset Quality Review and stress test has recently been undertaken by ECB European Baking Union outlook Three Pillars of the European Banking Union and the Comprehensive Assessment • Pillar 1:...
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...institutions are the depository financial institution and the non-depository institution. A depository institution is an organization, which may be either for-profit or non-profit, that takes money from clients and places it in any of a variety of investment vehicles for the benefit of both the client and the organization. Common examples of depository institutions are retail banks and savings and loan associations, both of which take deposits into safekeeping and use them to make loans to other customers. A non-depository institution is a government or private organization (such as building society, insurance company, investment trust, or mutual fund or unit trust) that serves as an intermediary between savers and borrowers, but does not accept time deposits. Such institutions fund their lending activities either by selling securities (bonds, notes, stock/shares) or insurance policies to the public. Their liabilities (depending on the liquidity of the liability) may fall under one or more money supply definitions, or may be classified as near money. Churches or temples were used as banks because they were considered sacred and no...
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...The (un)Official United States History Cram Packet This is not intended as a substitute for regular study ……. But it is a powerful tool for review. 1494: Treaty of Tordesillas – divides world between Portugal and Spain 1497: John Cabot lands in North America. 1513: Ponce de Leon claims Florida for Spain. 1524: Verrazano explores North American Coast. 1539-1542: Hernando de Soto explores the Mississippi River Valley. 1540-1542: Coronado explores what will be the Southwestern United States. 1565: Spanish found the city of St. Augustine in Florida. 1579: Sir Francis Drake explores the coast of California. 1584 – 1587: Roanoke – the lost colony 1607: British establish Jamestown Colony – bad land, malaria, rich men, no gold - Headright System – land for population – people spread out 1608: French establish colony at Quebec. 1609: United Provinces establish claims in North America. 1614: Tobacco cultivation introduced in Virginia. – by Rolfe 1619: First African slaves brought to British America. 15. Virginia begins representative assembly – House of Burgesses 1620: Plymouth Colony is founded. - Mayflower Compact signed – agreed rule by majority • 1624 – New York founded by Dutch 1629: Mass. Bay founded – “City Upon a Hill” - Gov. Winthrop - Bi-cameral legislature, schools 1630: The Puritan Migration 1632: Maryland – for profit – proprietorship 1634 – Roger Williams banished from Mass. Bay Colony 1635:...
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