This document provides information about investment banking and its role in the US financial industry. It discusses how investment banks helped create the 2008 housing bubble through improper mortgage allocation. It also describes the key functions of investment banks like facilitating IPOs, providing investment advice, and assisting with mergers and acquisitions. The document then outlines the major US regulatory bodies that oversee investment banking and five important regulations that have impacted the industry, including the Glass-Steagall Act that originally separated commercial and investment banking.
Chapter11 International Finance ManagementPiyush Gaur
International banks provide various services to facilitate international trade and foreign exchange transactions for their clients. These services include trade financing, foreign exchange, hedging currency risk, and consulting. International banks have different types of offices depending on the country's regulations, including correspondent banks, representative offices, branches, subsidiaries, affiliates, and offshore centers. The international debt crisis of the 1980s was caused by developing countries taking on large debts from international banks that they struggled to repay when oil prices collapsed. The crisis was eventually resolved through debt restructuring and new types of bonds.
Chapter 07_Central Banking and the Conduct of Monetary PolicyRusman Mukhlis
The document discusses the structure and operations of central banks, focusing on the U.S. Federal Reserve System. It describes the origins of the Fed following financial panics in the 19th century. The structure of the Fed involves 12 regional banks, a Board of Governors, and the Federal Open Market Committee. Central bank independence and its relationship to macroeconomic performance is also examined.
A multinational corporation operates in two or more countries, consisting of a parent company in its home country and foreign subsidiaries. The goal is to maximize shareholder wealth. Managing finances across countries introduces challenges like different currencies, economic systems, languages, cultures and political risks compared to domestic firms. Firms expand internationally to access new markets, resources, technologies and efficiencies or avoid regulatory hurdles. Financial managers must operate within environmental, regulatory and ethical constraints that vary between countries.
Global banking emerged after World War II as companies restructured to operate internationally. Transnational banks conduct business across multiple countries, with the largest based in France, Germany, the UK, US, and Japan. They expanded in the late 20th century alongside the growth of multinational corporations and eurodollar markets. In the Philippines, transnational banks have a major presence through branches, representative offices, and offshore banking units, and they dominate the financial system by providing credit to both the government and large corporations.
Chapter16 International Finance ManagementPiyush Gaur
This document provides sample answers to questions about foreign direct investment and cross-border acquisitions. It addresses topics such as motivations for foreign acquisitions of US firms, factors driving Japanese investment in Southeast Asia, reasons for Asian investment in Mexico after NAFTA, and explanations for China becoming a top destination for foreign investment. The document also summarizes several theories of foreign direct investment and discusses political and country risks related to international business.
The document discusses the closure and conversion of term finance institutions in India in the early 2000s and arguments for and against reviving such institutions. It provides details on the roles and functions of development finance institutions (DFIs) and term finance institutions pre-2000s in India. It notes the problems with rising non-performing assets in commercial banks and argues for establishing a new National Development Bank to facilitate long-term financing and reindustrialization while relieving stress on commercial banks.
Banking in the philippines (Sarah Olivarez-Cruz)Sarah Cruz
There are over 758 banks operating in the Philippines which are supervised by the Bangko Sentral ng Pilipinas (BSP) and Philippine Deposit Insurance Corporation (PDIC). Several banks were recently placed under receivership due to financial issues. Philippine banks are utilizing various technologies today like microfinance, mobile banking, bancassurance, and retail wealth management. In 2011, Philippine banks saw high earnings, steady asset expansion, strong credit growth, improving loan quality, a growing deposit base, ample liquidity, and remained well capitalized above regulatory standards.
The financial system is crucial for allocating resources in an economy. It includes banking institutions and non-bank financial intermediaries that facilitate the flow of funds from savers to borrowers. Common deposit products offered by banks include current deposits, savings deposits, fixed deposits, and recurring deposits. Current deposits are payable on demand while savings and fixed deposits have restrictions on withdrawals but offer interest. Recurring deposits require fixed regular installments over a set period.
Chapter11 International Finance ManagementPiyush Gaur
International banks provide various services to facilitate international trade and foreign exchange transactions for their clients. These services include trade financing, foreign exchange, hedging currency risk, and consulting. International banks have different types of offices depending on the country's regulations, including correspondent banks, representative offices, branches, subsidiaries, affiliates, and offshore centers. The international debt crisis of the 1980s was caused by developing countries taking on large debts from international banks that they struggled to repay when oil prices collapsed. The crisis was eventually resolved through debt restructuring and new types of bonds.
Chapter 07_Central Banking and the Conduct of Monetary PolicyRusman Mukhlis
The document discusses the structure and operations of central banks, focusing on the U.S. Federal Reserve System. It describes the origins of the Fed following financial panics in the 19th century. The structure of the Fed involves 12 regional banks, a Board of Governors, and the Federal Open Market Committee. Central bank independence and its relationship to macroeconomic performance is also examined.
A multinational corporation operates in two or more countries, consisting of a parent company in its home country and foreign subsidiaries. The goal is to maximize shareholder wealth. Managing finances across countries introduces challenges like different currencies, economic systems, languages, cultures and political risks compared to domestic firms. Firms expand internationally to access new markets, resources, technologies and efficiencies or avoid regulatory hurdles. Financial managers must operate within environmental, regulatory and ethical constraints that vary between countries.
Global banking emerged after World War II as companies restructured to operate internationally. Transnational banks conduct business across multiple countries, with the largest based in France, Germany, the UK, US, and Japan. They expanded in the late 20th century alongside the growth of multinational corporations and eurodollar markets. In the Philippines, transnational banks have a major presence through branches, representative offices, and offshore banking units, and they dominate the financial system by providing credit to both the government and large corporations.
Chapter16 International Finance ManagementPiyush Gaur
This document provides sample answers to questions about foreign direct investment and cross-border acquisitions. It addresses topics such as motivations for foreign acquisitions of US firms, factors driving Japanese investment in Southeast Asia, reasons for Asian investment in Mexico after NAFTA, and explanations for China becoming a top destination for foreign investment. The document also summarizes several theories of foreign direct investment and discusses political and country risks related to international business.
The document discusses the closure and conversion of term finance institutions in India in the early 2000s and arguments for and against reviving such institutions. It provides details on the roles and functions of development finance institutions (DFIs) and term finance institutions pre-2000s in India. It notes the problems with rising non-performing assets in commercial banks and argues for establishing a new National Development Bank to facilitate long-term financing and reindustrialization while relieving stress on commercial banks.
Banking in the philippines (Sarah Olivarez-Cruz)Sarah Cruz
There are over 758 banks operating in the Philippines which are supervised by the Bangko Sentral ng Pilipinas (BSP) and Philippine Deposit Insurance Corporation (PDIC). Several banks were recently placed under receivership due to financial issues. Philippine banks are utilizing various technologies today like microfinance, mobile banking, bancassurance, and retail wealth management. In 2011, Philippine banks saw high earnings, steady asset expansion, strong credit growth, improving loan quality, a growing deposit base, ample liquidity, and remained well capitalized above regulatory standards.
The financial system is crucial for allocating resources in an economy. It includes banking institutions and non-bank financial intermediaries that facilitate the flow of funds from savers to borrowers. Common deposit products offered by banks include current deposits, savings deposits, fixed deposits, and recurring deposits. Current deposits are payable on demand while savings and fixed deposits have restrictions on withdrawals but offer interest. Recurring deposits require fixed regular installments over a set period.
The report highlights the urgent
challenges arising from the world financial and economic crisis and its aftermath, in
particular in the key areas of financial regulation and supervision, multilateral
surveillance, macroeconomic policy coordination, sovereign debt, a global financial
safety net, the international reserve system and governance reform of the Bretton
Woods institutions.
The document summarizes Japan's financial system and the causes of its 1990s banking crisis. It describes key aspects of Japan's bank-dominated system such as the role of the Ministry of Finance and keiretsu groups. It then analyzes factors like the Plaza Accord, real estate and stock market speculation, and changes in monetary policy that contributed to the crisis. Finally, it discusses Japan's "Big Bang" deregulation of 2001 and its 2009 "New Plan" of debt moratoriums, which aimed to encourage more lending but risked increasing debt repudiation.
This document summarizes the banking system in the Philippines. It outlines the different types of banks including universal banks, commercial banks, and thrift banks. It identifies that universal banks have the powers of commercial banks plus investment powers. It then lists the major government-owned and privately-owned universal banks, providing brief descriptions and background information on each one. In closing, it states that the Philippines has a comprehensive banking system with various bank types regulated by Bangko Sentral ng Pilipinas, the country's central bank.
The document provides an overview of the Philippine financial market, including financial institutions and the money and capital markets. It discusses the key functions of financial institutions like banks and non-bank financial intermediaries. It also describes the money market, which facilitates short-term lending and borrowing, and the capital market, which provides medium to long-term financing through debt and equity instruments. The Philippine Stock Exchange is discussed as the main securities market in the Philippines, along with common stock and bond instruments and basic procedures for buying and selling stocks.
Banking & non banking financial institutionssanah08
This document discusses various types of financial institutions in India including banking institutions like commercial banks and central banks as well as non-banking financial institutions like mutual funds, insurance companies, and non-banking financial companies. It provides details on the functions of commercial banks, the Reserve Bank of India, mutual funds, insurance companies, and how these financial institutions contribute to the development of the Indian economy.
The document discusses the state of the Chinese economy and banking system. It provides an overview of China's economy, noting that GDP growth is expected to further slow as the country transitions to a more consumption-driven model with tighter credit. It also summarizes China's national debt levels and financial markets, highlighting concerns about the large shadow banking sector and potential defaults. The document concludes with studies on several major Chinese banks and observations about credit quality risks.
Prespective On Chinese Financial System and policy-reforms-Regmi Milan
The document discusses the history and development of China's financial system. It describes the traditional Chinese financial institutions like piaohao and qianzhuang that dominated before the 19th century. It then discusses the entry of Western banks in China and the establishment of the modern banking system after 1949 when the People's Bank of China was formed. The document also summarizes China's current financial regulators and reforms being made to develop capital markets and increase direct financing.
The document analyzes India's debt market and provides suggestions to make it more robust to support economic growth. It summarizes that India's debt market is dominated by government bonds, and the corporate debt market accounts for less than 5% of the total market. It identifies several problems on both the demand side like regulatory restrictions on institutional investors and low retail participation, and on the supply side like reliance on private placements and lack of innovative instruments. The document concludes by recommending ways to address regulatory overlapping, increase product simplicity and liquidity, provide tax incentives, ease issuance processes, and develop the secondary market to strengthen India's corporate debt market.
This document summarizes China's financial system and issues with capital allocation to the private sector. It notes that China's banking system is state-dominated and focuses lending on state-owned enterprises rather than small-and-medium enterprises. While SMEs contribute significantly to China's economy, they face difficulties obtaining financing due to factors like a lack of collateral. The document compares China's financial system to measures in other countries and finds that capital markets are underdeveloped and a smaller proportion of credit goes to the private sector in China than elsewhere. It concludes China's financial institutions have struggled to efficiently allocate capital to private sector development and SMEs.
The bond market in India has a long history dating back to the 18th century when the East India Company and princely states borrowed money. Over time, the government began issuing bonds to fund deficits, infrastructure projects, and wartime expenditures. The Reserve Bank of India now manages the government bond market. Key developments included the introduction of treasury bills in 1867, the establishment of the RBI in 1935 to oversee public debt, and major reforms in the 1990s and beyond to develop the secondary market and introduce new instruments. The market consists primarily of government securities, public sector undertaking bonds, and corporate bonds. Major participants include banks, mutual funds, insurance firms, and provident funds.
Functional differences between a bank and non-bank financial institution part 2Al Shahriar
This document provides an overview of a study comparing the functions of banks and non-bank financial institutions in Bangladesh. It introduces the objectives and methodology of the study, which involves collecting both primary and secondary data on Dutch-Bangla Bank and Reliance Finance Limited to analyze the differences between their operations as a bank and non-bank financial institution, respectively. The document also provides background information on the two organizations, including their histories, strategies, visions, missions, business objectives, branches/offices, and social initiatives.
Financial institutions plays a very important role in an economy. There is a positive relationship between financial institution and economic development. Developing countries need to increase the availability of financial institution and financial services to its people.
This document defines and compares banking financial institutions and non-banking financial institutions. Banking financial institutions accept customer deposits and provide financial services, and include central banks, public sector banks, private sector banks, and cooperative sector banks. Non-banking financial institutions do not accept deposits but provide other financial services, and include types like development banks that provide long-term loans and help finance other countries. The main difference is that banking institutions have direct customer contact and conduct various activities, while non-banking institutions have indirect contact and focus on activities like long-term loans and currency stabilization.
Bank Industry: Bank of China
Created in 1912 in Beijing by Sun Yat Sen
Internationalisation since 1929
China mainland, Hong-Kong, Macao, Taïwan and 37 countries
History of philippine banking ( and kinds of checks )Rexel Agapay
The history of Philippine banking began with Obras Pias, a charity foundation run by friars that became the first banking institution. Some of the earliest banks that emerged in the 19th century included Rodriguez Bank, which functioned more as a loan association, and British-Orient Bank, which expanded Philippine-European trade. HSBC established a branch in Manila in 1872. Monte de Piedad was the first mutual savings bank established in 1882 to serve the poor. The Bangko Sentral ng Pilipinas was established as the central bank of the Philippines in 1949.
The World Bank is an international financial institution that provides loans and technical assistance to developing countries. It was established in 1944 along with the IMF at the Bretton Woods Conference. The World Bank comprises five organizations: the IBRD, IDA, IFC, MIGA, and ICSID. The IBRD and IDA provide loans to governments for projects focused on reducing poverty and promoting development, while the IFC focuses on private sector development and the others provide guarantees and arbitration.
This document provides an overview of international finance from a legal and regulatory perspective. It discusses four main topics: 1) what constitutes international finance, 2) the degree of integration of national financial markets, 3) the sources of international financial law and regulation including both national governments and multilateral institutions, and 4) the costs and benefits of increasing globalization of international finance. The document concludes that harmonized rules created and supervised by supranational authorities will help minimize financial instability and maximize efficiency.
The document summarizes Russia's bond market. It describes how Russia did not have a well-functioning bond market before 1997 but now has one of the most developed bond markets globally. The bond market provides long-term funding for public and private expenditures through both primary and secondary markets. There are various types of bonds traded in Russia's market including treasury bills, bonds, non-marketable bonds, and corporate bonds like debentures, hybrid securities, and medium-term notes.
The IMF is an organization of 186 countries that works to foster global monetary cooperation and secure financial stability. It provides policy advice and financing to help countries achieve macroeconomic stability. The IMF tracks global economic trends, warns of potential problems, and shares expertise to help countries address economic difficulties. It supports members through policy advice, research, loans, and technical assistance. The IMF aims to ensure the stability of the international monetary system and help members promote growth and alleviate poverty.
This document provides an introduction to HTML by covering the following key points:
- HTML uses tags to tell web browsers how to structure and display content. Tags are surrounded by angle brackets and usually come in pairs.
- To create an HTML document, you can use a text editor to write HTML code and save the file with a .html extension. Then open it in a web browser to view the formatted page.
- The basic structure of an HTML document includes <html>, <head>, and <body> tags where the <head> contains the <title> and the visible content goes in the <body>.
- Common tags in the <body> include headings, paragraphs, line breaks, images
The report highlights the urgent
challenges arising from the world financial and economic crisis and its aftermath, in
particular in the key areas of financial regulation and supervision, multilateral
surveillance, macroeconomic policy coordination, sovereign debt, a global financial
safety net, the international reserve system and governance reform of the Bretton
Woods institutions.
The document summarizes Japan's financial system and the causes of its 1990s banking crisis. It describes key aspects of Japan's bank-dominated system such as the role of the Ministry of Finance and keiretsu groups. It then analyzes factors like the Plaza Accord, real estate and stock market speculation, and changes in monetary policy that contributed to the crisis. Finally, it discusses Japan's "Big Bang" deregulation of 2001 and its 2009 "New Plan" of debt moratoriums, which aimed to encourage more lending but risked increasing debt repudiation.
This document summarizes the banking system in the Philippines. It outlines the different types of banks including universal banks, commercial banks, and thrift banks. It identifies that universal banks have the powers of commercial banks plus investment powers. It then lists the major government-owned and privately-owned universal banks, providing brief descriptions and background information on each one. In closing, it states that the Philippines has a comprehensive banking system with various bank types regulated by Bangko Sentral ng Pilipinas, the country's central bank.
The document provides an overview of the Philippine financial market, including financial institutions and the money and capital markets. It discusses the key functions of financial institutions like banks and non-bank financial intermediaries. It also describes the money market, which facilitates short-term lending and borrowing, and the capital market, which provides medium to long-term financing through debt and equity instruments. The Philippine Stock Exchange is discussed as the main securities market in the Philippines, along with common stock and bond instruments and basic procedures for buying and selling stocks.
Banking & non banking financial institutionssanah08
This document discusses various types of financial institutions in India including banking institutions like commercial banks and central banks as well as non-banking financial institutions like mutual funds, insurance companies, and non-banking financial companies. It provides details on the functions of commercial banks, the Reserve Bank of India, mutual funds, insurance companies, and how these financial institutions contribute to the development of the Indian economy.
The document discusses the state of the Chinese economy and banking system. It provides an overview of China's economy, noting that GDP growth is expected to further slow as the country transitions to a more consumption-driven model with tighter credit. It also summarizes China's national debt levels and financial markets, highlighting concerns about the large shadow banking sector and potential defaults. The document concludes with studies on several major Chinese banks and observations about credit quality risks.
Prespective On Chinese Financial System and policy-reforms-Regmi Milan
The document discusses the history and development of China's financial system. It describes the traditional Chinese financial institutions like piaohao and qianzhuang that dominated before the 19th century. It then discusses the entry of Western banks in China and the establishment of the modern banking system after 1949 when the People's Bank of China was formed. The document also summarizes China's current financial regulators and reforms being made to develop capital markets and increase direct financing.
The document analyzes India's debt market and provides suggestions to make it more robust to support economic growth. It summarizes that India's debt market is dominated by government bonds, and the corporate debt market accounts for less than 5% of the total market. It identifies several problems on both the demand side like regulatory restrictions on institutional investors and low retail participation, and on the supply side like reliance on private placements and lack of innovative instruments. The document concludes by recommending ways to address regulatory overlapping, increase product simplicity and liquidity, provide tax incentives, ease issuance processes, and develop the secondary market to strengthen India's corporate debt market.
This document summarizes China's financial system and issues with capital allocation to the private sector. It notes that China's banking system is state-dominated and focuses lending on state-owned enterprises rather than small-and-medium enterprises. While SMEs contribute significantly to China's economy, they face difficulties obtaining financing due to factors like a lack of collateral. The document compares China's financial system to measures in other countries and finds that capital markets are underdeveloped and a smaller proportion of credit goes to the private sector in China than elsewhere. It concludes China's financial institutions have struggled to efficiently allocate capital to private sector development and SMEs.
The bond market in India has a long history dating back to the 18th century when the East India Company and princely states borrowed money. Over time, the government began issuing bonds to fund deficits, infrastructure projects, and wartime expenditures. The Reserve Bank of India now manages the government bond market. Key developments included the introduction of treasury bills in 1867, the establishment of the RBI in 1935 to oversee public debt, and major reforms in the 1990s and beyond to develop the secondary market and introduce new instruments. The market consists primarily of government securities, public sector undertaking bonds, and corporate bonds. Major participants include banks, mutual funds, insurance firms, and provident funds.
Functional differences between a bank and non-bank financial institution part 2Al Shahriar
This document provides an overview of a study comparing the functions of banks and non-bank financial institutions in Bangladesh. It introduces the objectives and methodology of the study, which involves collecting both primary and secondary data on Dutch-Bangla Bank and Reliance Finance Limited to analyze the differences between their operations as a bank and non-bank financial institution, respectively. The document also provides background information on the two organizations, including their histories, strategies, visions, missions, business objectives, branches/offices, and social initiatives.
Financial institutions plays a very important role in an economy. There is a positive relationship between financial institution and economic development. Developing countries need to increase the availability of financial institution and financial services to its people.
This document defines and compares banking financial institutions and non-banking financial institutions. Banking financial institutions accept customer deposits and provide financial services, and include central banks, public sector banks, private sector banks, and cooperative sector banks. Non-banking financial institutions do not accept deposits but provide other financial services, and include types like development banks that provide long-term loans and help finance other countries. The main difference is that banking institutions have direct customer contact and conduct various activities, while non-banking institutions have indirect contact and focus on activities like long-term loans and currency stabilization.
Bank Industry: Bank of China
Created in 1912 in Beijing by Sun Yat Sen
Internationalisation since 1929
China mainland, Hong-Kong, Macao, Taïwan and 37 countries
History of philippine banking ( and kinds of checks )Rexel Agapay
The history of Philippine banking began with Obras Pias, a charity foundation run by friars that became the first banking institution. Some of the earliest banks that emerged in the 19th century included Rodriguez Bank, which functioned more as a loan association, and British-Orient Bank, which expanded Philippine-European trade. HSBC established a branch in Manila in 1872. Monte de Piedad was the first mutual savings bank established in 1882 to serve the poor. The Bangko Sentral ng Pilipinas was established as the central bank of the Philippines in 1949.
The World Bank is an international financial institution that provides loans and technical assistance to developing countries. It was established in 1944 along with the IMF at the Bretton Woods Conference. The World Bank comprises five organizations: the IBRD, IDA, IFC, MIGA, and ICSID. The IBRD and IDA provide loans to governments for projects focused on reducing poverty and promoting development, while the IFC focuses on private sector development and the others provide guarantees and arbitration.
This document provides an overview of international finance from a legal and regulatory perspective. It discusses four main topics: 1) what constitutes international finance, 2) the degree of integration of national financial markets, 3) the sources of international financial law and regulation including both national governments and multilateral institutions, and 4) the costs and benefits of increasing globalization of international finance. The document concludes that harmonized rules created and supervised by supranational authorities will help minimize financial instability and maximize efficiency.
The document summarizes Russia's bond market. It describes how Russia did not have a well-functioning bond market before 1997 but now has one of the most developed bond markets globally. The bond market provides long-term funding for public and private expenditures through both primary and secondary markets. There are various types of bonds traded in Russia's market including treasury bills, bonds, non-marketable bonds, and corporate bonds like debentures, hybrid securities, and medium-term notes.
The IMF is an organization of 186 countries that works to foster global monetary cooperation and secure financial stability. It provides policy advice and financing to help countries achieve macroeconomic stability. The IMF tracks global economic trends, warns of potential problems, and shares expertise to help countries address economic difficulties. It supports members through policy advice, research, loans, and technical assistance. The IMF aims to ensure the stability of the international monetary system and help members promote growth and alleviate poverty.
This document provides an introduction to HTML by covering the following key points:
- HTML uses tags to tell web browsers how to structure and display content. Tags are surrounded by angle brackets and usually come in pairs.
- To create an HTML document, you can use a text editor to write HTML code and save the file with a .html extension. Then open it in a web browser to view the formatted page.
- The basic structure of an HTML document includes <html>, <head>, and <body> tags where the <head> contains the <title> and the visible content goes in the <body>.
- Common tags in the <body> include headings, paragraphs, line breaks, images
La Unión Europea ha acordado un embargo petrolero contra Rusia en respuesta a la invasión de Ucrania. El embargo prohibirá las importaciones marítimas de petróleo ruso a la UE y pondrá fin a las entregas a través de oleoductos dentro de seis meses. Esta medida forma parte de un sexto paquete de sanciones de la UE destinadas a aumentar la presión económica sobre Moscú y privar al Kremlin de fondos para financiar su guerra.
The Boeing Company is an American multinational corporation that designs, manufactures, and sells airplanes, rockets, and satellites worldwide. It operates through five business segments: Commercial Airplanes, Boeing Military Aircraft, Network & Space Systems, Global Services & Support, and Boeing Capital. Key financial details include a market cap of $102.95 billion and net earnings of $5.446 billion in 2014. Boeing's largest segment is Commercial Airplanes, which accounted for 66.1% of total revenues and 85.8% of earnings from operations in 2014. The company also derives revenue from defense, space, and security contracts through its Boeing Military Aircraft, Network & Space Systems, and Global Services & Support segments.
This document summarizes the life of Myrtle Elizabeth Husted. It notes that she was born 90 years ago to Anna Dougherty and Clinton Husted in Detroit, Michigan. As an adult, she married Albert Sunshine in 1952 and helped him run their business, Sunshine Marina. They had two daughters, Alice and Betty Ann. Myrtle had many happy memories with her family over the years, including her brother Arty, her daughters, grandchildren, and great-grandchildren.
Australia has a constitutional monarchy system of government with Queen Elizabeth II as head of state. The Queen appoints a Governor-General as her representative in Australia. The federal government has three branches - a bicameral parliament, an executive branch led by a Prime Minister and cabinet, and an independent judiciary. Australia also has six states and two self-governing territories. The country uses a parliamentary system with preferential voting and compulsory voting for citizens over 18. The two major political parties are the centre-left Labor Party and the centre-right Liberal-National Coalition.
The document discusses the future challenges and opportunities in solid waste management. Some of the key challenges mentioned are increasing waste quantities and changing compositions due to population growth and changing lifestyles, increasing environmental and health impacts of improper waste management, and rising costs of waste management due to more complex technologies needed. Limited policy frameworks and lack of political priority for waste management are also issues. However, the document notes that waste management also presents opportunities like waste minimization, energy and material recovery from waste becoming more viable, and potential for private sector involvement and job creation through recycling industries.
6.01. a personal_struggle_with_the_definition_of_success.stud.9.2008.lastSahil Shah
The document is a transcript of a conversation with a successful investor reflecting on his career and struggles balancing success with acting on his values. He makes three key points:
1) Making compromises early in one's career to advance can change who you are over time, making it harder to act with integrity later on.
2) The higher he rose, the more limited and pressured he felt regarding his values due to increased competition, stakes, and pressure to conform.
3) He questions why behaving fairly and with civility doesn't ensure success, given talent and hard work, and why bad behavior isn't punished more. In the end, he defines success more broadly than just career achievements.
This document discusses process capability and measurement indices. It defines common and assignable causes of variation, and explains how to measure a process by taking samples and analyzing the resulting distribution. The key metrics for measuring process capability are Cp, which indicates if a process can produce within specifications regardless of the process mean, and Cpk, which also considers how centered the process is within specifications. Examples are provided to demonstrate how to calculate Cp and Cpk. The goal is for these metrics to be above 1 to indicate a capable process.
The document summarizes the pulp and paper industry processes. Key points include:
- Raw materials like wood, rice straw and cotton are used and undergo cooking, washing, screening and bleaching.
- Wastewater is generated from the cooking, washing, bleaching and papermaking steps.
- Treatment schemes include sedimentation and flocculation to remove impurities from wastewater before discharge.
- Innovative technologies like using enzymes and polymers can improve wastewater treatment and paper quality.
This document summarizes a presentation on promoting research and innovation in India. It outlines that research and innovation involve systematic investigation and discovery to increase knowledge. While India has strong research institutions, its R&D and innovation capabilities are lower than other BRICS countries. To promote more research, the presentation recommends increasing interaction between scientific and social science researchers, rewarding high performance, inculcating scientific temper in education, supporting long-term research topics, establishing a national science foundation, and giving universities ownership over patents from government-funded research. Challenges include the time commitment, difficulty changing mindsets, and insufficient funding, but incentives and decreasing the gap between academia and industry could help mitigate these challenges.
El primer puente de Tacoma Narrows, completado en 1940, se derrumbó dramáticamente debido a un fenómeno aerodinámico llamado flutter inducido por el viento apenas meses después de su inauguración. El colapso fue capturado en video y se ha utilizado desde entonces para enseñar sobre ingeniería estructural. Un nuevo puente se completó en 1950.
Maruti Suzuki is an Indian automobile company that was started in 1982. They launched the Maruti 800 and now produce over 1.5 million cars per year. This document analyzes the brand positioning and strategy of their SX4 model. It finds that while the SX4 was initially successful, it has lost popularity compared to competitors. The recommendations include increasing advertising, improving brand differentiation through attributes or positioning, and potentially relaunching in a different segment.
The document discusses space junk, which refers to debris left in Earth's orbit from space missions and satellite launches. There are estimated to be over 10 million pieces of space junk currently orbiting Earth, posing risks to active satellites and space stations. Collisions between space junk have increased the amount of debris and make future space missions more dangerous. Researchers are working on methods like laser removal to reduce space junk and mitigate the growing problem.
Pourquoi est-ce si difficile de concevoir une API ?PALO IT
Alexandre Estela, Leader de Practice Architecture chez PALO IT, sera l’un des speakers lors du Meetup organisé par Paris API. Hébergée chez Mangopay, la session proposera 2 talks autour des APIs !
Au programme
> API Design-First : pourquoi et comment ?
Paris API Meetup est un groupe de personnes qui pensent que les APIs vont révolutionner le web. Ces personnes se rencontrent à Paris pour discuter et partager leurs expériences autour des APIs.
The document summarizes an environmental impact assessment report for a road improvement project between the border of China and Vietnam. It describes the project location and design alternatives considered. It also summarizes the physical, ecological and human environment along the project corridor. Potential environmental impacts during construction and operation are outlined, including on agricultural land, communities, and traffic. Mitigation measures are proposed to address impacts from land acquisition, noise, dust, erosion and more. Public involvement during the assessment is also summarized.
Indoor air pollution poses significant health risks, especially to children. Common indoor pollutants include particulate matter from biomass cooking fuels, carbon monoxide, secondhand tobacco smoke, pesticides, solvents, volatile organic compounds, and biological pollutants like molds and allergens. Exposure can cause both acute and chronic respiratory and other health effects. Preventive measures include using cleaner fuels, proper ventilation, and reducing sources of indoor pollution.
Study of waste water, discharged from tannery (3)Abhishek Rajput
The document discusses the process of tannery industry and waste generation points. It describes the various stages of hide/skin preparation including soaking, liming, unhairing, splitting, and deliming. The tanning and crusting stages chemically treat the hide to make it stable and flexible. Surface coatings may be applied for finishing. Maximum waste is generated during soaking, unhairing, fleshing, splitting, trimming, bleaching, and bating. The waste water characteristics are provided and treatment schemes discussed including activated sludge and trickling filters. New innovative technologies can more effectively and efficiently treat tannery effluent with lower costs.
Investment banks perform various services including facilitating capital raising activities for corporations through public offerings and private placements, advising on mergers and acquisitions, and making markets for securities. They earn fees from underwriting securities, providing financial advisory services, and engaging in proprietary trading. Research divisions within investment banks analyze companies and publish reports to assist internal and external clients. Regulations governing investment banking activities are established by government entities like the SEC in the US and SEBI in India.
Analysis of banking risks and the role of insurance industryanglo99
The document discusses banking risks and how insurance can help manage those risks for national development. It outlines various activities banks engage in like providing loans, financial advising, cash management, equipment leasing, and venture capital loans. These activities expose banks to risks such as credit risk, interest rate risk, and legal risks. The insurance industry can help banks manage these risks through various insurance policies and risk management services. Properly managing banking risks through insurance is important for financial stability and economic development.
Analysis of banking risks and the role of insurance indu (1)anglo99
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The document discusses investment banking. It defines investment banking as controlling the flow of money by channeling cash from investors looking for returns to entrepreneurs and businesses that need funding. Investment bankers raise money from investors by selling securities and transferring that money to those who need cash for projects. They are involved in large financial transactions like mergers and acquisitions (M&A), initial public offerings (IPOs), and other securities offerings. Investment banking provides capital raising, financial advisory, corporate lending, sales and trading, brokerage, research, and private equity investment services.
What is the primary goal of a commercial.docxwrite5
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Econ315 Money and Banking: Learning Unit 19: Banking Industry and Regulationsakanor
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Financial Markets & Institutions(I need help explaining the follow.pdfANANDCROCKERKOTA
Financial Markets & Institutions
(I need help explaining the following and/or demonstrating it for my upcoming exam if anyone
could help me comprehend the concepts I would greatly appreciate it!!)
Be able to define and apply the concept of “capital”
Define and describe different types of capital markets:
Primary vs. Secondary
Physical vs. Financial
Spot vs. Futures
Public vs. Private
Define and describe different types of financial institutions:
Investment Banks
Commercial Banks
Mutual Funds
Exchange-Traded Funds (ETFs)
Credit Unions
Insurance Companies
Describe how investment banks, mutual funds, and commercial banks act as financial
intermediaries
Describe an initial public offering (IPO) Describe the difference between active and passive
investments
Solution
1. Primary and secondary capital markets: In primary capital market, investors purchase securites
directly from the comapnies issuing securities,whereas in secondary capital market, investors
trade securities among themselves through stock exchange, but company doesn\'t participate in
the transaciton.
Companies which want to sell their securities first time, sells in primary capital market. In many
cases,it takes the form of initial public offerings (IPO)
2. Physical and Financial capital: The term physical capittal aplies for the stock of Buildings,
equipment, instruments, raw materials, semi-finished and finished goods in inventory and other
physical objects used by a firm to produce goods and/or services. Where as financial capital
means resources used to purchase thsoe physical objects, those resources come from savings.
3. Spot Vs Futures markets: Spot market is a public financial market in which financial
instruments are traded for immediate delivery. It contrast with future market in which is due at a
latter date. In spot market, settlement happens in 1 or 2 working days. A spot market may be * an
organised market * an exchange * over the counter (OTC)
4. Public and Prvate Markets: Private markets are teh markets where transactions are worked out
directly between two parties, while public markets are the markets where standardaized contracts
are traded as organized exchanges which requires lot of formal work to enter into a contract.
5. Financial Institutions; A financial institution is aninstitution that provides financial services
for its clients and customers. One of the most important financial services provided by a financai
institution is acting a a financial intermediary. Most financial institutions are regulated by
government.
Financial institutions provide services as intermediaries for financial markets.Brodly speaking,
there are three major types of financial institutions (1) Depositing institutions (2) Contractual
institutions and (3) Investment institutions
6. Commercial banks; A commercial Bank is a type of Bank/Financial institution that provides
services such as accepting deposits, making business loans and offer basic investment products.
The general role of com.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
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1. 1 | P a g e
GRI research project
Business Enterprise Environment
Sneh Shah
Dr. Seaman
NYIT School of Management
Summer 2015
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Financial industry of United States has the capability to speed the economy of the country and
also has the potential to destroy the economy. Major economy downwards in United States has
happened due to the failure of financial industries. In that investment banking and the
commercial banking are the key player of any financial industries in the world. Investment
banking is the backbone of the financial industry. Recession of 2008 has been happened due to
the improper mortgage allotment in housing industry. Investment banking had the major role of
allotment of the mortgage in realtor industry. Invest banks helped to create the bubble in housing
market. Investment banking acts as the agent in trading the financial securities like stocks and
bonds. Investment banking helps to expand capital market.
What Investment banks do?
1. Initial public offering – Investment banks play the major role in distributing IPO of any
company to the public. At first company who wants to go for public trading goes to the
Investment banks and investment banks take the part of the share of the company. Now
Investment banks decide the price of the share and then banks distribute the shares in
public (Lohse, 1997).
2. Investment – Investment bank gives the advice to the issuer of the share and other money
market securities and also gives the advice to the investors about investing money in
stocks, bonds and other securities called hedge funds. Investment banks also provide the
advice for mutual funds and on real estate industry to investors. Investment banks get the
commission by performing these functions (Bodnaruk, 2009).
3. Mergers and Acquisition – Investment bank also helps to do merging or the acquisition
between two companies. Investment banks act as a broker between two companies and
help in negotiation and also help in finding the group of bidders who are willing to do
3. 3 | P a g e
merging or acquisition. Nowadays, Investment banks do the market research and publish
the report on company review for buying or selling. These kind of reports help in M&A.
These days, companies are using these reports but they do not use the investment bank
service a broker for M&A (Elstein, 1999).
4. Role in secondary market – All kind of market equities are traded in secondary market
via investment banks. Investment banks set the price for the buyers and for the sellers.
Price for bidders and sellers are different. By doing this practice the fair value for equity
can be known and trading would be done easily. This whole process is described as the
market making process.
5. Structure Financing – This is the most complicated and riskier financing process.
Sometimes the loan is not sufficient for the borrowers to satisfy their financial needs so
they will go to the investment banks to borrow money under the name of complex
securities like collateralize bond, debt or mortgage obligations. Structure financing has
made possible to borrow the large amount of money for the big projects like
constructions (Jobst, 2005).
Investment banks also indulge themselves in merchant banking and in managing the risk by
giving the good credit or bad credit to traders.
Regulatory bodies for Investment banking
In United States, rules and regulations for investment banking are governed by the three
major government departments.
1) Federal Deposit Insurance Corporation (FDIC) – FDIC is responsible to deposit
insurance for the security of each account holder of independent banks of United States.
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If any bank goes in bankruptcy, it will be FDIC responsibility to protect account
depositors. FDIC also inspects different financial firms in terms of the security and
safety.
2) Federal Reserve board – Federal Reserve board has twelve Federal Reserve banks in
twelve different stats of United States. These banks are for regulating the activities of
commercial banks as well as investment banks. Federal Reserve banks are also
responsible for regulating the flow of money in financial market. They have the ability to
print money.
3) National credit union administration (NCUA) – This independent government body is
responsible for the supervision of credit unions of United States. Insurance fund and other
mutual fund regulations are closely monitored by NCUA. Credit unions are regulated and
chartered by NCUA.
List of five major regulations
Investment banking has the major impact by five important regulations. These five
regulations have changed the banking system.
1. Banking act of 1933
2. International banking act of 1978
3. Riegle Neal interstate banking act of 1994
4. Gramm Leach Bliley Act of 1999
5. Volcker rule of 2014
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1. Banking act of 1933
Banking act 1933 is also known as the Glass Steagall act. This act was proposed by two people
named 1) Carter Glass and 2) Henry Steagall. This act was formed to overcome from the great
depression which was occurred in 1929. This act was making the restriction to merge
commercial banks and investment banks together. It means financial banks could either act as the
commercial bank or as the investment bank.
Investment banking became in focus due to four main points of glass steagle act
1. Commercial banks cannot trade any money market securities for public
2. Commercial banks were restricted to invest in securities for commercial banks
themselves.
3. Commercial banks were prohibited to buy any shares for clients. It means no
underwriting.
4. Commercial banks cannot make partnership with other organizations those are
responsible for trading financial securities.
These restrictions have made the investment banking as a separate financial industry.
Situation was created for banks to choose one of the streams for doing banking. One was
to be a commercial bank and other was to be an Investment bank. Classic example is JP
Morgan Corporation. JP Morgan Company had decided to be the commercial bank rather
than the investment bank. One of the employees of JP Morgan Company was not happy
and he had decided to make his own investment bank. This Investment bank is known as
Morgan Stanley.
6. 6 | P a g e
Effect of Glass Steagall act on investment banking
1. Banks were playing both the role as investment bank or as the commercial bank.
They need to abandon the one of their role so there was the loss of banks.
2. Banks had to lose the competitive advantage against other banks in foreign countries
and especially against European countries.
3. Competition between commercial banking was increased and forced to take the risky
steps to increase the profit against other commercial banks.
Glass Steagall act was considered as not a right act for the modern world with globalization.
Because of this act there was the government interference in some extend. Completely opposite
act was structured in 1999 under the name of Gramm-Leach-Bliley Act.
2. International Banking act 1978 (James R. Barthy, 2009)
International banking act was made to restrict the foreign banks from being one of the
biggest banks in United States. Local banks were able to open as many branch as they
can in home state only but they are not able to open offices in other states of USA.
Foreign banks had the advantage for opening as many offices they want in all over
United States. Regulations of local banks were not implemented on foreign banks.
Because of this unique advantage of foreign banks, they were inflated in all over United
State. Local investment banks were lagging behind from foreign investment banks.
There were two main provisions which have brought local investment banks in
competition.
Foreign banks will be treated same as the local banks and they have to select one
home state for the office. Now there was no more advantage of being foreign
bank. Foreign investment banks and local investment banks were treated equally.
7. 7 | P a g e
Foreign banks were needed to deposit the insurance as a security to FDIC. This
was as security for depositors.
Impact of international banking act of 1978 (Skigen & Fitzsimmons, 1979)
1. Foreign banks had no more competitive advantage after this rule.
2. The tension was created for the local banks those had the foreign branches.
There was the possibility that foreign countries might not treat well.
3. Riegle-Neal interstate banking act of 1994
Riegle Neal interstate banking was in from September 1994. This act was the replacement of
Mc- fadden act. This was implemented in two different years. Half of the act was implemented in
1994. In 1994, restriction of acquiring bank in interstate was taken out. Any bank in United
States has the right to acquire any bank even if the bank is not in the same state. After making
this as a rule, 1997 was the year to implement the whole Riegle Neal interstate banking act. Now
bank has the right to open its own branch in any state of United State. Now bank can acquire any
bank and can open it as the branch in United States.
Impact of Riegle-Neal Act on Investment banking (DeYoung et al., 2004)
Merging of financial sectors had become easy. There were no geographic restriction in merging
and acquisition. It has benefited to big financial banks. Investment banks and commercial banks
had the advantage of expanding. Investment banking was in its golden era. Merger and
acquisition do need the investment banking as a broker between two commercial banks and also
had the opportunity to do merging with another investment bank also. They were gaining the
profit from both the side.
8. 8 | P a g e
Commercial banks and Investment banks were becoming big firms by merging with each other.
Restriction of government was very less.
The impact of Riegle and Neal act had become double when the implementation of Gramm-
Leach-Bliley Act of 1999 was occurred. Whole structure of financial industry was changed
because of these two acts. These acts are also called as the cause of 2008 recession t (Barth
et al., 1996).
4. Gramm Leach Bliley Act of 1999
Gramm leach Bliley act is also known as Financial Services Modernization act. This act is
completely opposite of Glass Steagall act. Glass Steagall act was completely taken out from the
legislation by implementing GLB act. That time president of United States was Bill Clinton. He
also made the announcement that Glass Steagall act is not good for United States’ economy so
now there is no more Glass Steagall act (Gaviria, 2012). Glass steagall was responsible for
making investment banking and commercial banking as the separate financial industries. After
GLB act everything was changed. There was no longer restriction from merging with each other.
For instance, Commercial banks can merge with investment banks easily. It is said that this act
was passed because of the globalization. Foreign banks had no restriction like acting as
commercial bank or the investment bank. They can play both roles. Before GLB act, Local US
banks had to be either the commercial bank or the investment bank. To vanish this competitive
advantage GLB act was passed.
9. 9 | P a g e
Explanation of Gramm leach Bliley act
This act was for removing all the restrictions of financial industries. There were no more
different segments like investment banks and commercial banks. Commercial banks had no
restriction in buying securities for themselves as well as for clients. Commercial banks could act
as the investment banks and investment banks could act as commercial banks. They can also sell
insurance or can acquire the insurance company.
Effect of Gramm Leach Bliley act
City bank and travel insurance merged together and made world’s largest financial
company. They were having the asset of $700 billion. Even JP Morgan and Chase bank
merged together to become United States’ number one bank in size.
Because of merging financial banks had become larger and larger. They were having lots
of money in hand. They have used this money to lend mortgage in housing industry. By
giving mortgage, banks were expecting to get lot more interest rate on it. But I reality
housing bubble was created. When the bubble was burst, all financial banks were in debt.
Steps to improve this act
1. Commercial banks and investment banks should be separated by
implementing glass steagall act.
2. These firms had become too large to handle so it is necessary to cancel the
merging of big financial firms like JP Morgan and chase or city bank and
travelers insurance. This step is difficult to implement but it will have the
immediate effect on financial industry.
5. Volcker rule of 2014
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Volcker rule was implemented by Obama government. This rule was first proposed in 2009 by
Paul Volcker. This rule is passed under the dodd frank act of 2010. This act was made to
alleviate the effect of 2008 recession.
Explanation of Volcker rule (Taylor, 2010)
Volcker rule can be explained in two steps.
1) First is to repealed the effect of Riegle neal act. According to this act if merging can
happened between two financial industries, it should not acquire more than 10 % of
national deposits at FDIC. For instance, City bank and JP Morgan chase corporation will
merge then national deposits of both the company would be more than 10
%. In result, they cannot be merged by law.
2) Secondly proprietary trading was restricted. That means investment bank cannot practice
proprietary trading. Investment bank cannot trade securities for the betterment of itself. It
cannot take money of customer to invest for gaining the profit for its own company. Risk
factor was reduced by implementing Volcker rule.
Effect of Volcker rule
Investment banks are not happy because of the restriction in proprietary trading.
Proprietary trading was one of the profit tools for investment banks. Because of
this profit margin is reduced.
10% cap is worthless.
Modification in Volcker rule
There is the need of modification in Volcker rule
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Merging between two financial companies should be restricted. Even small merge
can cause the big impact so no merging is the great idea.
Conclusion
Obama government has brought up Volcker rule but it is not enough to restrict another
recession in unite states. Merging of commercial banks and investment banks should be
prohibited. Even big companies like JP Morgan and city bank should be restricted to
expand their company in future. Because more money they would have, there will be more
chances to put that money in risk to gain the profit. Here too big to fail theory is in effect
so merging should be restricted. Glass steagall act was good for the United States
economy. Riegle-Neal interstate banking act of 1994 and Gramm Leach Bliley Act of
1999 were the cause of the great recession in 2008. So all rules of these two acts should be
revised for stable economy
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References
Barth, J.R., P.A.V.B. Swamy, R.Y. Chou and J.S. Jahera, Jr. (1996), ‘‘Determinants of U.S.
Commercial Bank Performance: Regulatory and Econometric Issues’’, in A.H. Chen and K.C.
Chan, eds., Research in Finance, Vol. 14, JAI Press Inc., Greenwich, England.
Bodnaruk, A., Massa, M., & Simonov, A. (2009). Investment banks as insiders and the market
for corporate control. The Review of Financial Studies, 22(12), 4989. Retrieved from
http://search.proquest.com/docview/230058641?accountid=12917
DeYoung, R., W.C. Hunter and G.F. Udell (2004), ‘‘The Past, Present, and Probable Future for
Community Banks’’, Journal of Financial Services Research 25, 85–133.
D. L. (1997, Nov 17). IPO market (A special report): IPO market still cooking, but with a lack
of sizzle. Wall Street JournalRetrieved from
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Elstein, A. (1999, Jan 14). Investment banks tally fees, lose prestige in deal wave once
confidants, M&A bankers focus on selling. American Banker Retrieved from
http://search.proquest.com/docview/249802599?accountid=12917
James R. Barthy, T. L. (2009). Bank Regulation in the United States. CESifo Economic Studies
Advance Access, 1-29.
Jobst, A. A. (2005). WHAT IS STRUCTURED FINANCE ? . finance and development.
Lohse, D. (1997). IPO Market (A Special Report): IPO Market Still Cooking, But With a Lack of
Sizzle. wall street journal, c1.
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Skigen, P. S., & Fitzsimmons, J. D. (1979). The impact of the international banking act of 1978
on foreign banks and their domestic and foreign affiliates. The Business Lawyer, 35(1), 55.
Retrieved from http://search.proquest.com/docview/228455154?accountid=12917
Taylor, M. (2010). The volcker rule: Wrong answer or the right question? Central
Banking, 20(4), 15-19. Retrieved from
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