Industries and the bank lending effects of bank credit demand and monetary policy in Germany

NARCIS (Netherlands)

Raabe, K.; Arnold, I.J.M.; Kool, C.J.M.

2006-01-01

This paper presents evidence on the industry effects of bank lending in Germany and asks whether bank lending to single industries depends on industry-specific bank credit demand or on monetary policy as determinant of bank credit supply. To this end, we estimate individual bank lending functions

Monetary Policy Instruments and Bank Risks in China

OpenAIRE

Zhongyuan Geng; Xue Zhai

2013-01-01

The authors use a panel data regression model to examine the effects of main monetary policy instruments on commercial bank risks in China from 1998 to 2011. The interest rate has a positive effect on bank risk while the interest rate margin, the reserve requirement ratio and open market operation have a negative effect. Among the three monetary policy instruments, the reserve requirement ratio has the greatest effect on bank risk, the interest rate (the interest rate margin) the second large...

World bank's role in the electric power sector: Policies for effective institutional, regulatory, and financial reform. World Bank policy paper

International Nuclear Information System (INIS)

1993-01-01

The policy paper is based on the World Bank Industry and Energy Department's ongoing policy and research work, which (1) examines experiences of industrial countries and the Bank's borrowers in developing their power sectors, (2) analyzes issues facing these sectors, and (3) describes options for dealing with these issues in developing countries. The paper is supported by a large body of research

MONETARY POLICY FORCE EFFECT BY MEANS OF BANKS MONEY CREATION

Directory of Open Access Journals (Sweden)

Victoria COCIUG

2014-07-01

Full Text Available In the context of modern economy, banks play an essential role for sustainable growth, by ensuring economy with financial resources and driving impulses of monetary policy to economy. Monetary authorities influence significantly the bank's ability to fulfill this role. Thus, to achieve macroeconomic objectives, there is promoted particular monetary policy and are implemented various practical regulations for banks. In this article, we want to identify the existing relationship between monetary policy followed by the authorities and the ability of banks to create money with its impact on various practical regulations.

The trade-off between monetary policy and bank stability

NARCIS (Netherlands)

Lamers, Martien; Mergaerts, Frederik; Meuleman, Elien; Vennet, Rudi Vander

2016-01-01

This paper investigates how monetary policy interventions by the European Central Bank and the Federal Reserve affect the stock market perception of bank systemic risk. In a first step, we identify monetary policy shocks using a structural VAR approach by exploiting the changes of the volatility of

The Impact of Monetary Policy on Bank Credit During Economic Crisis: Indonesia's Experience

OpenAIRE

Mongid, Abdul

2008-01-01

The monetary policy mechanism by which monetary policy was transmitted to thereal economy had emerged as the pivotal discussion topic recently. This paper tried to discussthe impact of Bank Indonesia’s monetary policy on loan bank. By using simple loan bankframework we concluded that monetary policies were able to influence loan bank. Themonetary variables such as discount rate policy, base money and exchange rate policy werevery important in determining the banking credit. As the credit was ...

A review of human milk banking and public health policy in Australia.

Science.gov (United States)

Lording, Roslyn J

2006-11-01

Breastmilk is the perfect food for human infants. It is markedly different from, and uniquely superior to, artificial baby milk. Human milk banks are services which collect, screen, process and distribute donated breastmilk. Recipients are generally ill and premature infants whose mothers are unable to breastfeed them. This review of human milk banking in Australian public health policy draws from local and international research. This history of human milk banking and contemporary Australian policies, pertaining to breastfeeding and milk banking, are examined. Human milk banking is noted to be largely invisible from national breastfeeding policies. The barriers to establishing human milk banks in the Australian context are explored. Strategies which have helped generate support for human milk banking are discussed. International research has demonstrated the cost-effectiveness of banked donor milk. It is time for human milk banking to become an integral component of Australian breastfeeding policies, viewed as one of several initiatives to protect and support breastfeeding.

Banks' risk appetite, heterogeneity and monetary policy: evidence ...

African Journals Online (AJOL)

The study examines the effects of bank heterogeneity on risk appetite under changing monetary policy stance of the monetary authority. The scope of the study covers the period 2005 to 2015 using data obtained from the published accounts of the affected banks and Central Bank of Nigeria (CBN) statistical bulletin, various ...

The Asymmetric Effects of Monetary Policy and Bank Credits in Taiwan Banking Industry - A Dynamic Panel Data Analysis

OpenAIRE

Jui-Chuan Chang; Ching-Chuan Tsong; Chieh-Tsung Wu

2010-01-01

This paper investigates whether distributional effect arising from the impact of monetary policy on bank credits will be different when monetary policy is asymmetric. Methodologically, we use a set of high frequency panel data for Taiwan commercial banks and adopt Arellano and Bond's (1991) generalized method of moments approach to conduct our empirical analysis. First of all, we investigate whether there exist the distributional effects of monetary policy on bank lending behavior which is as...

Central Banks Exit Strategies in Theory and Practice. The Case of the Polish National Bank's Policy

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Anna Szelągowska

2015-07-01

Full Text Available This paper makes an attempt in discussing the pros and cons of central banks exiting from unconventional monetary policy strategies. Having in mind the latest international economic research concerning the optimal entrance and exit strategies of the zero interest rate policy, it is worth discussing the results of the contemporary central banks in preserving the financial system and supporting the real economy. The main aim of this paper is the assessment of the Polish central bank's low rate interest rates policy effectiveness and to find out its influence on the economy. The following research problem is discussed: should central banks use the exit strategy from zero interest rates and if yes, why and when. This task requires to put forward the following research hypothesis: too late implementation of the cycle of low interest rates by the National Bank of Poland does not help improvement of the Polish economy situation.

THE POLITICS OF BANKING: GLOBALISATION AND DOMESTIC POLICY CHANGE

OpenAIRE

Sukarman, Widigdo

2015-01-01

The current article aims to elaborate on the history of bank policy modifications as a response towards economic and financial change, mainly due to globalisation. The centralstatus of banks in the economy causes a need for the government to protect it in many forms that differ from one country to another. Bank policy makers that are closed oresoteric and are short-lived must be opened up to be able to receive long term ideas. The process is also marked intensively with competing interests be...

MONETARY POLICY FORCE EFFECT BY MEANS OF BANKS MONEY CREATION

OpenAIRE

Victoria COCIUG; Olga TIMOFEI

2014-01-01

In the context of modern economy, banks play an essential role for sustainable growth, by ensuring economy with financial resources and driving impulses of monetary policy to economy. Monetary authorities influence significantly the bank's ability to fulfill this role. Thus, to achieve macroeconomic objectives, there is promoted particular monetary policy and are implemented various practical regulations for banks. In this article, we want to identify the existing relationship between monetar...

MONETARY POLICY SHOCKS AND ISLAMIC BANKS DEPOSITS IN INDONESIAN DUAL BANKING SYSTEM AFTER THE FINANCIAL CRISIS

Directory of Open Access Journals (Sweden)

Ahmad Affandi

2017-03-01

Full Text Available Use of riba (usury in the economic system remained a key factor that led to financial crisis since theinception of modern economy in the late of 17th century. Implementation of interest based monetary policystipulated rampant speculation as common practices in the global financial sector. Although Islamic bankingwas governed by syariah (Divine Law, which was assumed to be resilient from distress, the volatility ofinterest movement would generally affect Islamic banks operations in a dual banking system. This paperwould look at this issue and would empirically explore the dynamic inter-relationships between deposits ofIslamic banks with monetary policy variables in Indonesia. In terms of market share, as of 2009, Islamicbanking asset in Indonesia was a meager 2%. The industry had been affected by few monetary policy shockson its deposits and financing. The study would employ vector auto regression model (VAR to explore thedynamics between the variables. The study would focus on data from 2004 to 2008 or performance after theAsian financial crisis. The results from these tests determined that shariah based deposits played significantrole in transmitting monetary policy effects to the economy. This study found that Islamic banking depositsin Indonesia were not sensitive to monetary policy changes. This study also concluded that IndonesianIslamic banks were resilient to financial crisis.

THE IMPACT OF MONETARY POLICY ON BANK CREDIT DURING ECONOMIC CRISIS: INDONESIA’S EXPERIENCE

Directory of Open Access Journals (Sweden)

Abdul Mongid

2017-03-01

Full Text Available The monetary policy mechanism by which monetary policy was transmitted to thereal economy had emerged as the pivotal discussion topic recently. This paper tried to discussthe impact of Bank Indonesia’s monetary policy on loan bank. By using simple loan bankframework we concluded that monetary policies were able to influence loan bank. Themonetary variables such as discount rate policy, base money and exchange rate policy werevery important in determining the banking credit. As the credit was very important to influencesthe economic activitiy, the result provided evidence that monetary policy was important as atool to control economic activity via credit channel. The validity of this study challenged thehypotheses that monetary policy was death. However, monetary policy maker should carefullyconsider the soundness of the banking industry because it was a strategic partner for monetaryauthority to control the economic activities.

Alternative banking: theory and evidence from Europe

Directory of Open Access Journals (Sweden)

Kurt Von Mettenheim

2012-12-01

Full Text Available Since financial liberalization in the 1980s, non-profit maximizing, stakeholder-oriented banks have outperformed private banks in Europe. This article draws on empirical research, banking theory and theories of the firm to explain this apparent anomaly for neo-liberal policy and contemporary market-based banking theory. The realization of competitive advantages by alternative banks (savings banks, cooperative banks and development banks has significant implications for conceptions of bank change, regulation and political economy.

Forest sector: A world bank policy paper

International Nuclear Information System (INIS)

1992-01-01

Forests are the most extensive terrestrial ecosystem, and nearly 500 million people depend on forests for their livelihood. Since the World Bank issued its forestry sector policy paper in 1978, there has been growing concern about the accelerated rate of destruction of the remaining primary forests in various parts of the world. The policy paper identifies two key challenges: to slow the alarmingly rapid rates of deforestation, especially (although not exclusively) in the tropical moist forests, and to ensure adequate planting of new trees to meet the rapidly growing demand for fuelwood in developing countries. The Bank intends to move vigorously to promote the conservation of natural forests and the sustainable development of managed forestry resources

Forest sector: A World Bank policy paper

International Nuclear Information System (INIS)

1992-01-01

Forests are the most extensive terrestrial ecosystem, and nearly 500 million people depend on forests for their livelihood. Since the World Bank issued its forestry sector policy paper in 1978, there has been growing concern about the accelerated rate of destruction of the remaining primary forests in various parts of the world. The policy paper identifies two key challenges: to slow the alarmingly rapid rates of deforestation, especially (although not exclusively) in the tropical moist forests, and to ensure adequate planting of new trees to meet the rapidly growing demand for fuelwood in developing countries. The Bank intends to move vigorously to promote the conservation of natural forests and the sustainable development of managed forestry resources

Regulation of Communication Policy of Modern Banks

Directory of Open Access Journals (Sweden)

Ketova Natalia, P.

2016-03-01

Full Text Available The paper shows the need for effective communication commercial banks, revealed the possibility of interaction with customers through advertising, sponsorship, philanthropy, sales promotion, lobbying of interests of banking institutions. The principles for the regulation of communications to ensure consistency of communication complex, which cause a complex effect on the external environment, the creation of adaptive system of marketing communications. It is proved that the possibilities of implementing an active communication policy of modern banks in recent years is constantly increasing. This contributes to the extension of Internet technologies, the creation of remote service channels, the emergence of new tools and technologies to attract and retain customers. On the example of JSC "Sberbank of Russia" presented the technology of using the traditional tools of ATL and BTL communications, the formation of the system CSR – corporate social responsibility, building contact with customers, enhancing their loyalty to the Bank. Reveals the areas of regulation of the savings Bank of its activities on the creation of the daily value of services based on the principles of involvement and co-operation of the system "Client - Bank", "Bank - Company", "Bank – Employees".

Vocational Education and Training: A Major Shift in World Bank Policy.

Science.gov (United States)

Foster, Phillip

1992-01-01

Comments on the World Bank's policy paper on vocational and technical education and training. Argues that past failures in establishing effective vocational and technical education were a result of not applying conventional neoclassical economic theory. Asserts that the World Bank's policy paper corrects this approach. (CFR)

The transmission of monetary policy through conventional and islamic banks

NARCIS (Netherlands)

Zaheer, S.; Ongena, S.; van Wijnbergen, S.

2012-01-01

We investigate the differences in banks' responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less

Implementation of Monetary Policy: How Do Central Banks Set Interest Rates?

OpenAIRE

Benjamin M. Friedman; Kenneth N. Kuttner

2010-01-01

Central banks no longer set the short-term interest rates that they use for monetary policy purposes by manipulating the supply of banking system reserves, as in conventional economics textbooks; today this process involves little or no variation in the supply of central bank liabilities. In effect, the announcement effect has displaced the liquidity effect as the fulcrum of monetary policy implementation. The chapter begins with an exposition of the traditional view of the implementation of ...

Interest Rate Policy Of Selected Central Banks In Central And Eastern Europe

Directory of Open Access Journals (Sweden)

GRABIA TOMASZ

2015-03-01

Full Text Available The aim of this article is to present and evaluate interest rate policies of three selected central banks in Central and Eastern Europe (Poland, the Czech Republic, and Hungary from 2001 to 2013. The study consists of an introduction (Section 1 and three main parts. The introduction contains a theoretical description of the role of interest rate policy, the dilemmas connected with it, as well as an analysis of the strategies and goals of monetary policies of the National Bank of Poland (NBP, the Czech National Bank (CzNB, and the National Bank of Hungary (NBH in the context of existing legal and institutional conditions. In turn, the first empirical part (Section 2 examines how the analysed central banks responded to changes in inflation, unemployment, and economic growth rates. The tools of the analysis are the nominal and real interest rates of those banks. The subsequent research part (Section 3 attempts to evaluate the degree of the contractionary nature of interest rate policies in specific countries in the context of the Taylor rule. The text ends with a summary (Section 4 encompassing concise conclusions drawn from the earlier analyses.

Monetary Policy Implications of Electronic Money

OpenAIRE

Berentsen, Aleksander

1997-01-01

The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks and the reaction of the banking system.

The Bank of Russia’s Policy under Crisis: Prejudices or Honest Mistakes?

Directory of Open Access Journals (Sweden)

Vasiliy Anatolyevich Rudyakov

2016-03-01

Full Text Available The article describes the Bank of Russia’s policy in recent years. Comparative analysis of the Bank’s policy with those of other countries with structurally similar economies, shows that the Bank of Russia is following a dysfunctional policy. The basic manifestation of this policy is not only the wrong definition of the Bank’s function, but also doubtful implementation mechanisms of this function. Pro-cyclical character of the Bank of Russia’s activity leads to a greater strengthening of a resource economic model. The study shows that without an adjustment of the Bank’s monetary policy Russian economy will just keep reproducing a steady tough environment that mostly aims at short-term restrictions but not at change stimulation. One of indispensable prerequisites of such adjustment is to create a macroeconomic policy which will be more adequate to the economy’s growth and development

ASSESSMENT OF SOCIO-ORIENTED POLICY IN BANKING INSTITUTIONS OF UKRAINE

Directory of Open Access Journals (Sweden)

Lunkina Tatyana

2018-01-01

Full Text Available Introduction. In today’s globalized conditions, the question of socially responsible business and the formation of an appropriate concept and policies for managing it are more relevant. Scientists are investigating this issue in two aspects, namely, from a theoretical and practical point of view. The first aspect is the study of the essence of CSR, the conduct of entrepreneurial activity, the functioning mechanism of the market principles in this concept, the definition of the place of social orientation in modern conditions. The second aspect is the study of practical positions, the separation of this concept from the standpoint of warning and risk management, assessment of the level of social responsibility and summing up the rating, summarizing all the results, as well as the establishment of a standard that will regulate such relationships. But, in our opinion, the implementation of such socially-oriented moments is not possible without identifying a certain number of indicators, reflecting the real situation and the impact of social factors on the banking institutions. This explains the relevance of studying the assessment of socially-oriented policies of banking institutions. Purpose. The purpose of this article is to determine the approaches to the assessment of socially-oriented policies of banking institutions, as well as to determine the place of rating assessment in the current conditions of the functioning of institutions and organizations. Results. The article describes approaches of socially-oriented banking policy in Ukraine. A quantitative approach is drawn, which directly includes the assessment of the level of social investment through the conduct of socially responsible activities by banking institutions. The qualitative approach according to which social reports and social ratings are compiled is investigated. The social indicators that influence the formation of a socially oriented political management system by business

THE CRUCIAL ROLE OF CENTRAL BANK TRANSPARENCY IN ASSESSING THE MONETARY POLICY COMMITTEE MECHANISM

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Dumiter Florin Cornel

2012-12-01

Full Text Available In the past, central banks used to be very reserved regarding their activities, strategies and monetary policy decisions and actions. As central banks become more and more independent, transparency gained importance based upon accountability arguments. An important fact for adopting an increasing central bank transparency lies in its importance of influencing the development of expectations. The concept of central bank transparency has emerged in the economic literature relatively later than some other key concepts. The widespread agreement of an inflation targeting regime and a more transparent central bank is desired by the most central banks around the world in the context of the need of the public disclosure of macroeconomic models, the quarterly time series for indicators like: inflation, output, budgetary deficit, public debt, interest rate, inflation expectations, the public announcement of the monetary policy decisions, objectives and targets, the publication of some key monetary tools like: inflation report, financial stability report, monetary policy committee report, annual report. These are all key issues in the construction of a more transparent and independent central bank in the context of a good global governance. Moreover, for the fruitful success of the central bank, latum sensu, and monetary policy, stricto sensu, it must be encompassed a complex monetary policy committee mechanism. This complex mechanism must by edowed with the collegial approach of the monetary policy committee, structure of the voting mechanism within the committee, the importance of the person which announces the changes within the interest rates and the public disclosure of these information’s enriched in a communication strategy. This communication strategy is very important for assessing and public understanding of the central bank’s actions but also for communicating the objectives, targets and forward looking approaches of the monetary

The Formation of New Monetary Policies: Decisions of Central Banks on the Great Recession

Directory of Open Access Journals (Sweden)

Ana Esther Castro

2014-05-01

Full Text Available The effect that the Great Recession had on monetary policies has led to the profound reorientation of central banks’ actions from 2007 to 2013. The purpose of this work is to analyze the monetary policies applied by the main central banks, mainly the European Central Bank, the Federal Reserve System of USA and the Bank of Japan, in order to raise thoughts on the guidelines that central banks should follow in the future. In the first section the bases of monetary policy before the crisis are described; in the second we explain the change in the orientation of the role of central banks during the crisis; and finally, we synthesize the bases on which the economic debate is taking place on the orientation of future monetary policies. We conclude that, in so far as the inoperativeness of transmission mechanisms still persists, monetary policies will remain in a process of change.

Policy impact of the Indonesian Central Bank certificate related on loan interest rate to the demand growth of property

Science.gov (United States)

Wirjodirdjo, B.; Asjari, H. Y.

2018-04-01

The Indonesian economic indicators shown a positive progress in the last three years, Foreign exchange reserves position of the end of March 2017 stood at US 121.8 billion higher than the position of the end of 2015 amounted to US 105.9 billion of the end of 2015. This reserve would ensure the resilience and maintaining sustainable Indonesian economic growth in the future. Although Indonesia’s foreign exchange is better, the structure of expenditure in the country is still less than ideal due the proportion of spending of consumer goods is far greater than the capital goods and tend to be unproductive spending. This needs to be regulated so that in the long term does not cause balance of payments deficit. Therefore, Indonesian Central Bank took a policy to raise interest rates for retail banks from 6% to 7.25% per annum gradually up to present. Policies relating to the interest rates on loans are intended to reduce the proportion of debt financing of consumer goods, however, these policies have implications to various economic sectors and one of those is property sector. A lot of research has been conducted related the impact of loan interest to the property sector but most of it is still in partial related to the ability the people to buy. However, this research has tried to see the implication of the macro Economic Policy of Indonesian Central Bank to the property sector as a systemic problem. This paper is going to present the study on the effects of these policies on the property sector, especially residence house. To obtain a comprehensive analysis and capture the relationship between interest rate policies and their impacts to the property sector, in this study the model developed and simulated using system dynamic methodology as an approach. Various scenarios are applied to the model to get an accurate information about how and when the effectiveness of the policy related to the property sector can be enforced. The result of this study can be delivered to

Bank Consolidation in Nigeria: Marketing Implications and Challenges for the Surviving Banks

OpenAIRE

IE Ernest

2012-01-01

The purpose of this paper is to explore the marketing implications of the Nigerian bank consolidation with a view to theorizing the marketing challenges which Third World countries wishing to embark on the same exercise should watch out for. The research used secondary data sources to expose the status of marketing in the pre-consolidation era and goes further to put forward the marketing implications and challenges of the exercise. Delivery of quality services, repositioning of brand identi...

The impact of monetary policy on bank lending rate in South Africa

Directory of Open Access Journals (Sweden)

B.T. Matemilola

2015-03-01

Full Text Available The pass-through of the policy rates to bank lending rate is an important subject matter because it measures the effectiveness of monetary policy to control inflation or stabilize the economy. This study investigates the long-run interest rate pass-through of the money market rate to the bank lending rate and asymmetric adjustment of the bank lending rate. The study applies the momentum threshold autoregressive and asymmetric error correction models. The asymmetric error correction results reveal that bank lending rate adjusts to a decrease in the money market rate in South Africa. The findings suggest that the South African commercial banks adjust their lending rate downward but the lending rate appears rigid upward, which supports the customer reaction hypothesis.

Central bank independence and public debt policy

NARCIS (Netherlands)

Beetsma, R.M.W.J.; Bovenberg, A.L.

1997-01-01

The various proposals for the institutional design of the European Monetary Union have drawn fresh attention to the link between monetary and public debt policies. This paper explores the strategic interaction between fiscal authorities setting public debt and the central bank controlling monetary

Modelling the monetary policy reaction function of the Colombian Central Bank

OpenAIRE

Otero, Jesus; Ramírez, Manuel

2008-01-01

This paper proposes a simple Ordered Probit model to analyse the monetary policy reaction function of the Colombian Central Bank. There is evidence that the reaction function is asymmetric, in the sense that the Bank increases the Bank rate when the gap between observed inflation and the inflation target (lagged once) is positive, but it does not reduce the Bank rate when the gap is negative. This behaviour suggests that the Bank is more interested in fulfilling the announced inflation target...

Factors affecting the Adoption of Online Banking in Ghana: Implications for Bank Managers

Directory of Open Access Journals (Sweden)

Perkins Ed-Zilla Daniel

2013-07-01

Full Text Available Internet usage in Ghana is on the increase and all indications points to the direction of the possibility of its application on online banking to be successful. However, online banking adoption that will lead to a cashless economy is facing doubts. This paper aimed at critically examining the factors that influence the adoption of online banking in Ghana. The study was based on TAM (Technology Acceptance Model, which has been used expansively in similar studies, a descriptive cross-sectional mixed-methodology approach was used. To generalize the findings the researchers used a multi case study approach to help find out the factors that influence online banking adoption. Data was analysed by using multiple Regression Analysis in SPSS to generate ANOVA results. The results showed that the original constructs of TAM i.e. Perceived Usefulness (PU, Perceived Ease of Use (PEOU as well as the extensions of government support, trust and security were all significant to customers’ intensions to adopt online banking. An implication for bank Managers is that they should concentrate on the promotion and advancement of the priceless paybacks that are gained from ‘Intended and Unintended Benefits’ such as lower transaction fees, high deposit rates among others which are realized from the usage online of banking linked to Perceived Usefulness

The Transmission of Monetary Policy through Conventional and Islamic Banks

NARCIS (Netherlands)

Zaheer, S.; Ongena, S.; van Wijnbergen, S.J.G.

2011-01-01

We investigate the differences in banks’ responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less

Correlates of Success in World Bank Development Policy Lending

OpenAIRE

Moll, Peter; Geli, Patricia; Saavedra, Pablo

2015-01-01

This paper examines the correlates of success of development policy lending operations of the World Bank between 2004 and 2012. The paper uses a data set constructed of individual loan characteristics and ex-post loan ratings produced by the World Bank's Independent Evaluation Group. Departing from the related literature, the paper focuses mostly on examining the impact of loan characteris...

Monetary policy and banking supervision: still at arm's length? A comparative analysis

Directory of Open Access Journals (Sweden)

Donato Masciandaro

2012-12-01

Full Text Available By the early 2000s an increasing number of countries had adopted a well-defined central bank framework, characterized by two intertwined features: stronger specialization for the banking authority in achieving monetary policy goals, and a lessening of its traditional responsibilities for the safeguard of financial stability within its institutional perimeter. The fundamental effect was that Central Bank Involvement in Supervision (CBIS generally decreased. But then, after the Financial Crisis erupted in 2008, reforms have been undertaken and projects are being discussed to reconsider the role of the central bank in the field of supervisory tasks. The main research question is then: how is CBIS moving? This article offers two contributions. Firstly, the economics of the relationship between central banking, monetary policy and banking supervision is reviewed. Secondly, the current situation of CBIS in 88 countries around the world is analyzed.

The transmission of monetary policy through conventional and Islamic banks

NARCIS (Netherlands)

Zaheer, S.; Ongena, S.; van Wijnbergen, S.J.G.

2013-01-01

We investigate the differences in banks’ responses to monetary policy shocks across bank size, liquidity, and type—i.e., conventional versus Islamic—in Pakistan between 2002:Q2 and 2010:Q1. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less

Banking Strategy Demography - Future Population Trend: Implication for Banking

OpenAIRE

Teo, Lee Koon; Tripathi, Sanjay; Kazi, Zaid

2010-01-01

The world is going through a major shift in demographic structure that will affect the economies and global markets in a major way over the next few decades. While extensive research has been done on the macro-economic implications of demographic changes, very little research has been conducted on the demographic challenges at an industry level or for firms and on how these firms should react. The banking sector, in particular has received little attention. The project is initiated by the Glo...

Product Diversification in the European Banking Industry: Risk and Loan Pricing Implications

OpenAIRE

Lepetit , Laetitia; Nys , Emmanuelle; Rous , Philippe; Tarazi , Amine

2005-01-01

The purpose of this paper is to investigate the relationship between bank risk and product diversification in the changing structure of the European banking industry. Based on a broad set of European banks for the period 1996-2002, our study shows that banks expanding into non-interest income activities present higher risk than banks which mainly supply loans. Whereas previous studies (mainly on U.S. banks) focused on portfolio diversification effects we explore risk implications of cross-sel...

The monetary policy of the European Central Bank in modern conditions

Directory of Open Access Journals (Sweden)

Kavitskaya Irina, L.

2015-12-01

Full Text Available The paper presents the monetary policy analysis of the European Central Bank (ECB under the present crisis conditions. The paper systematizes the ECB monetary policy in today's crisis and researches it at different stages of the crisis. A detailed analysis showed that the ECB's monetary policy is significantly different from the actions of other central banks during the current crisis (for example, the Federal Reserve. Thus, the ECB unconventional monetary policy combined with traditional measures, but does not replace them. Often ECB use credit easing instead of quantitative easing. The ECB's monetary policy used not only to combat the financial crisis, such as the Fed, but also to deal with the debt crisis. These features of the ECB’s monetary policy were due to both the institutional characteristics of the European Union, as well as special conditions of flow of the financial crisis in the euro zone.

Knowledge Banking in Global Education Policy: A Bibliometric Analysis of World Bank Publications on Public-Private Partnerships

Science.gov (United States)

Menashy, Francine; Read, Robyn

2016-01-01

As a leading mobilizer of international development and educational knowledge, the World Bank has been critiqued in two key areas: (1) the dominance of economic thinking in its policies, and (2) its Northern-generated knowledge which informs its work in the Global South. In this paper, we investigate the disciplinary foundation of Bank knowledge,…

Economic policy uncertainty, credit risks and banks lending decisions: Evidence from Chinese commercial banks

Institute of Scientific and Technical Information of China (English)

Qinwei Chi; Wenjing Li

2017-01-01

Using data for Chinese commercial banks from 2000 to 2014, this paper examines the effects of economic policy uncertainty(EPU) on banks’ credit risks and lending decisions. The results reveal significantly positive connections among EPU and non-performing loan ratios, loan concentrations and the normal loan migration rate. This indicates that EPU increases banks’ credit risks and negatively influences loan size, especially for joint-equity banks. Given the increasing credit risks generated by EPU, banks can improve operational performance by reducing loan sizes. Further research indicates that the effects of EPU on banks’ credit risks and lending decisions are moderated by the marketization level, with financial depth moderating the effect on banks’ credit risks and strengthening it on lending decisions.

Formation of strategy and policy of banking credit operations management

Directory of Open Access Journals (Sweden)

O.V. Lysenok

2016-03-01

Full Text Available The article examines the strategic management of credit operations as the activities on credit strategies of banking institutions, the formation of goals, objectives, and the choice of methods to achieve them. The basis of this is the strategic management analysis of the factors affecting the lending operations, strategic planning, communication mechanisms of strategic and tactical decisions, monitoring the implementation of the strategy and timely adjustments. For the purpose of effective implementation of the developed strategy, the article argues that banks in modern conditions should develop their own internal credit policy which should cover the essential elements and principles of credit at these banks. The study determines that the credit policy is based on the factors determined by the amount of capital assets and loan portfolio, the structure of its clientele, specialization, location, presence of branch network, the situation in the money market.

Talking about monetary policy: the virtues (and vice?) of central bank communication

OpenAIRE

Alan Blinder

2009-01-01

Central banks, which used to be so secretive, are communicating more and more these days about their monetary policy. This development has proceeded hand in glove with a burgeoning new scholarly literature on the subject. The empirical evidence, reviewed selectively here, suggests that communication can move financial markets, enhance the predictability of monetary policy decisions, and perhaps even help central banks achieve their goals. A number of theoretical drawbacks to greater communica...

Monetary transmission and bank lending in the Netherlands

OpenAIRE

Kakes, Jan

1998-01-01

This paper investigates the role of bank lending in the monetary transmission process in the Netherlands. We observe significant differences between the responses of corporate and household lending following a monetary shock. We also find that banks hold a buffer stock of securities which they use to offset monetary shocks. The main implication of our study is that a bank lending channel is not likely to be an important transmission mechanism of monetary policy.

Risk Implications of Energy Policy Instruments

DEFF Research Database (Denmark)

Kitzing, Lena

papers and a working paper), based on a combination of micro-economic and policy analysis. Financial theory is used for the quantitative analysis of investment problems under uncertainty, including mean-variance portfolio theory, real option analysis, Monte Carlo simulations and time series analysis...... show, both qualitatively and quantitatively, that policy makers cannot neglect risk implications when designing RES support instruments without compromising either on effectiveness or cost-efficiency of energy policy. The central research questions are: how can risk implications of RES policy...... instruments be integrated into policy design, so that the policies provide adequate investment incentives? And can the consideration of such risk implications in policy design make overall energy policy more successful? These questions are answered in seven research papers (four journal papers, two conference...

Impact of the joint-stock reform of commercial banks on the effectiveness of monetary policy in China

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Fang Xianming

2016-01-01

Full Text Available Over the past decade, the Chinese government has conducted the joint-stock reform of state-owned commercial banks. The joint-stock reform improves the marketization level of the ownership structure of commercial banks and consequently leads to impacts on the effectiveness of monetary policy. This paper first presents the impacting mechanisms of the joint-stock reform of commercial banks on the effectiveness of monetary policy and then constructs an empirical model to test those impacts. The empirical results show that the increasing degree of joint-stock reform of commercial banks enhances the effectiveness of expansionary monetary policy but weakens the effectiveness of contractionary monetary policy in China.

Revisiting Bank Pricing Policies in Brazil: evidence from loan and deposit markets

OpenAIRE

Leonardo S. Alencar

2011-01-01

This paper addresses the micro and macroeconomic determinants of interest rates in the Brazilian banking market. The results suggest that banks fully adjust their loan interest rates to a change in the monetary policy rate, but we also observe a rigid short-term response for some loan product categories. The study confirms that pricing policies can vary substantially depending on the market. For example, microeconomic factors did not seem to be a major determinant of retail loan rates, but th...

Central bank capital, financial strength, and the Bank of Japan

OpenAIRE

Thomas F. Cargill

2006-01-01

This Economic Letter addresses central bank capital and financial strength in the context of Bank of Japan policy (Cargill 2005). Specifically, it reviews general considerations about central bank capital and financial strength, discusses recent Bank of Japan policy in the context of capital structure, evaluates the Bank of Japan's concern in the context of the broader issue of central bank independence, and draws some lessons from recent Bank of Japan policy.

Institutional Design, Macroeconomic Policy Coordination and Implications for the Financial Sector in the UK

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Nasir Muhammad Ali

2017-09-01

Full Text Available This study has analysed the implications of institutional design of macroeconomic policy making institutions for the macroeconomic policy interaction and financial sector in the United Kingdom. Employing a Vector Error Correction (VEC model and using monthly data from January 1985 to August 2008 we found that the changes in institutional arrangement and design of policy making authorities appeared to be a major contributing factor in dynamics of association between policy coordination/combination and financial sector. It was also found that the independence of the Bank of England (BoE and withdrawal from the Exchange Rate Mechanism led to the increase in macroeconomic policy maker’s ability to coordinate and restore financial stability. The results imply that although institutional autonomy in the form of instrument independence (monetary policy decisions could bring financial stability, there is a strong necessity for coordination, even in Post-MPC (Monetary Policy Committee and the BoE independence.

The importance and role of the Central Bank in the creation of a healthy monetary and investment policy

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Šmigić-Miladinović Jasmina

2016-01-01

Full Text Available The paper's starting point is finding an answer to the question: What kind of monetary policy should be followed by the Central bank in new market circumstances? As a major monetary institution, the Central bank should provide credibility for its monetary policy, which is particularly important during a macroeconomic stabilisation. In order to choose the most appropriate monetary policy, its creators should be familiar with the monetary policy's effects on economic activities, first of all on investment activities and the period in which they may occur. The Central bank uses its special status and authorisations to control monetary trends, to keep and handle foreign exchange reserves, to keep banks' required reserves, to manage the country's debt, to be the final creditor of the banking system, to take care of the banking system's liquidity. That is why the Central bank has become important for the functioning of the whole financial market, and especially the monetary market. The Central bank has both direct and indirect influence on the most important events on financial markets, financial system, as well as a wider influence - on a country's whole economy. In order to envisage the financial market's impact on monetary and investment policies, one should begin with the Central bank's role on the financial market, and at the same time analyse the financial market's instruments and institutions.

Denying Foreign Bank Entry: Implications For Bank Interest Margins

OpenAIRE

Ross Levine

2003-01-01

This paper examines the impact of restricting foreign bank entry on bank net interest margins while controlling for (a) impediments to domestic bank entry, (b) the degree of foreign bank ownership of the domestic banking industry, (c) an array of bank-specific characteristics, (c) banking sectorconcentration, and (d) various country traits. Using data on almost 1200 banks across 47 countries, the results suggest that restricting foreign bank entry boosts bank net interest margins. Also, restr...

Factors Impacting Bank Net Interest Margin and the Role of Monetary Policy: Evidence from Turkey

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Muhammed Hasan Yılmaz

2017-10-01

Full Text Available In this study, we investigate factors affecting net interest margin (NIM of commercial banks in Turkey. Especially, our results highlight the relation between unconventional monetary policy shocks and bank margins. To this end, first, we conduct an identification analysis about which parameters of asymmetric interest corridor framework are important in explaining variations in NIM. Using industry-level data, we show that there exists a pass through from BIST interbank overnight repo/reverse repo market rate and weighted average cost of funding (WACF to bank loan and deposit rates. As a result of reduced-form Vector Autoregression (VAR analysis we find the existence of a transmission mechanism from BIST rate and WACF to commercial loan rate, consumer loan rate and deposit rate. Same pass through to loan and deposit rates is also shown in individual bank level with the Panel Vector Autoregression (Panel VAR analysis in the case of 16 commercial banks in Turkey during the period 2011Q1-2016Q1. After the identification analysis, we examine the relationship between NIM and policy rates through System Generalized Method of Moments (GMM techniques by controlling bank specific, industry related and macroeconomic factors. We find that a change in the monetary policy rate has significant and positive impact on NIM. Among bank-specific factors, equity ratio and operating expenses are found to be significantly affecting NIM during the sample period. Our empirical findings also stress the significance of lag values of NIM. Estimations conducted with standardized variables indicate that economic significance of lag values and bank specific variables are larger than that of policy.

Central bank policy under significant balance-of-payment shocks and structural shifts

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Andrey Sinyakov

2016-09-01

Full Text Available In this paper, we analyze a number of monetary and FX policy alternatives using the model of a small open oil-exporting economy hit by severe balance-of-payment shocks, such as those that simultaneously affected the Russian economy in 2014–2015. For our purposes, we modify Romer's (2013 IS-MP general equilibrium model by adding a structure similar to the Russian economy (tradables and oil vs. non-tradables. In the model, we consider an optimal policy mix that includes a floating exchange rate, FX liquidity provision by a central bank and temporary tightening of monetary policy. The flexible exchange rate works as a shock absorber, helping restore aggregate demand and domestic production. If inflation expectations are not anchored, contractionary monetary policy helps to stabilize them. Financial stability risks are addressed by lending FX liquidity to the banking sector.

The IMF-World Bank's economic stabilisation and structural adjustment policies and the Uganda economy, 1981-1989

NARCIS (Netherlands)

Nabudere, D.W.

1990-01-01

This research report traces all the main developments in IMF-World Bank policies in Uganda. Most of the material concerns the three IMF standby arrangements with Uganda for 1981-1984 and the World Bank Group's Structural Adjustment Programmes. These programmes introduced two contradictory policies

The reaction of bank lending to monetary policy in Brazil

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Tony Takeda

2005-03-01

Full Text Available This paper evaluates the relevance of the "bank lending channel'' of monetary policy transmission in Brazil. Disaggregated monthly data of the Brazilian banks balance sheets from December 1994 to December 2001 are analyzed. In addition to the short-term interest rate, we consider the effects of another monetary policy instrument frequently used in Brazil, represented by reserve requirements on overall banks deposits - demand, savings, and time deposits. Dynamic panel data techniques are employed. Our results suggest that the impact of reserve requirements is relevant and stronger for larger banks loans. This finding results from the progressive reserve rates required from banks, which affect to a greater extent banks with larger deposit volumes.Este artigo avalia o canal de empréstimos bancários na transmissão da política monetária. A análise foca os dados mensais desagregados do balanço patrimonial dos bancos comerciais brasileiros de dezembro de 1994 a dezembro de 2001. Em adição à taxa básica de juros de curto prazo, este estudo considera também os efeitos de um outro instrumento de política monetária usado freqüentemente no Brasil, representado pelos recolhimentos compulsórios sobre os depósitos à vista, de poupança e a prazo. A partir de técnicas de análise de dados em painel dinâmico, os resultados dos testes sugerem que o impacto dos compulsórios é relevante e é mais forte sobre os empréstimos dos grandes bancos, conclusão que decorre de recolhimentos compulsórios de caráter progressivo, que afetam mais fortemente os bancos com maiores volumes de depósitos.

Online customer experience: Implications for digital banking

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Štavljanin Velimir

2017-01-01

Full Text Available Banks will be facing great challenges in the coming period. Some of these challenges are a lack of differentiation, disloyal customers, new non-traditional competitors, increased interaction and expectations from digital channels. Many consulting firms, but also the academic community, propose a solution in the form of implementing the concept of customer experience management. As research shows that a large number of challenges come from the online environment, it is necessary for banks to ensure excellence in the online environment by applying the concept of online customer experience. In order to create this experience, it is up to the banks to meet all the necessary antecedents, which can involve the elements in terms of control, processes and content. This can be a very difficult job if one is unfamiliar with the basics, but it could also be a rewarding job which will reflect on the business performance. Although the focus of the paper is online customer experience, even in the developed countries 'digital' customers are rare. Most of them are multichannel oriented and an important aspect is the multichannel integration and the strategy focused on customer experience. This paper presents an overview of the literature in the field of online customer experience, with the aim of introducing the public with the concept as well as presenting the implications which this concept has for digital banking.

What Do a Million Observations on Banks Say about the Transmission of Monetary Policy?

OpenAIRE

Jeremy C. Stein; Anil K. Kashyap

2000-01-01

We study the monetary-transmission mechanism with a data set that includes quarterly observations of every insured U.S. commercial bank from 1976 to 1993. We find that the impact of monetary policy on lending is stronger for banks with less liquid balance sheets--i.e., banks with lower ratios of securities to assets. Moreover, this pattern is largely attributable to the smaller banks, those in the bottom 95 percent of the size distribution. Our results support the existence of a "bank lending...

Modelling Central Bank Independence and Inflation: Deus Ex Machina?

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Dumiter Florin

2015-11-01

Full Text Available Central bank independence represents the core element of assessing the complex relationship between government and central bank, having at background the fundamental issue of a free monetary policy decision-making process from the hands of the political circle. However, central bank independence is a multilevel concept within some social, economic and behavioral implications both for the central banks and for the society at whole. Central bank independence is needed in order to establish an autonomous central bank with a high degree of freedom in choosing its’ instruments, objectives, techniques and tactics. Moreover, a high degree of transparency for the public disclosure and monitoring of central bank operation and transaction is needed for the social barometer of the central bank. Consequently the central bank must have a high degree of accountability and responsibility vis - á - vis of the most democratic institution, i.e. Parliament. In this article it is presented a comprehensive study regarding the complex relationship between central bank independence and inflation by modeling these two monetary policy panacea, in order to make a fine tuning regarding the causal relationship established in a heterodox manner.

Human milk banking in the volunteer sector: policy development and actuality in 1970s Australia.

Science.gov (United States)

Thorley, Virginia

2012-04-01

to describe the development of rigorous milk banking policies in the voluntary sector in Australia, 1975-1979, by the non-government organisation, the Nursing Mothers' Association of Australia (now the Australian Breastfeeding Association), and the eventual abandonment of milk banking by the organisation. historical article. Australia in the years 1975-1979. during the period in which the policy development described here took place, conducting a milk bank to the rigorous standards set by the organisation required too heavy an investment of hours by unpaid volunteer coordinators to be sustainable. in establishing and continuing a successful milk bank, models which depend less on volunteer hours may be more sustainable. Copyright © 2011 Elsevier Ltd. All rights reserved.

Non-Standard Monetary Policies Implemented By The European Central Bank After The Financial Crisis

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Meryem Filiz Baştürk

2017-07-01

Full Text Available The financial crisis which began in the U.S. in 2007 influenced all economies on a global scale followingthe collapse of Lehman Brothers in September 2008. As a response to the crisis, central banksstarted to implement non-standard monetary policy tools as well as short-term interest rates alsoknown as standard policy tools in order to help monetary policy transmission channels work effectively.The European Central Bank (ECB implemented non-standard monetary policies as in additionto the standard policy tools during this period. The non-standard monetary policies introducedby the ECB were different from those implemented by other central banks (Fed, Bank of England interms of implementation and results. Firstly, the policies of the ECB were not specific to one singlecountry. Secondly, the banking system was the major source of finance in Europe, which had an impacton the policies. In this regard, the ECB introduced a policy of enhanced credit support consistingof five main elements in order to maintain price stability over the medium term following the crisis.By 2010, public debt in some member countries of the European Union reached high levels, requiringthem to take additional measures. The Securities Markets Programme was introduced to that end.Initially focusing on the debt securities of Greece, Ireland, and Portugal, the Securities Markets Programmewas expanded in August 2011 to cover the debt securities of Italy and Spain. In addition, twoLong-term Refinancing Operations (LTROs were introduced. This article presents a descriptive analysisof the non-standard monetary policy tools introduced by the ECB following the financial crisis.However, the monetary policy implemented in the Euro zone is not specific to one single country, andevery country has a different financial structure, both of which limit the effectiveness of the policiesimplemented. The changing structure of the monetary policy implemented in the aftermath of the crisisaims to

Factors Affecting the Financing Policy of Commercial Banks in Ethiopia

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W/Michael Shibru

2015-06-01

Full Text Available Determining the optimal capital structure is one of the most fundamental policy decisions faced by financial managers. Since optimal debt ratio influences firm’s value, different firms determine capital structures at different levels to maximize the value of their firms. Thus, this study examines the relationship between leverage and firm specific (profitability, tangibility, growth, risk, size and liquidity determinants of capital structure decision, and the theories of capital structure that can explain the capital structure of banks in Ethiopia. In order to investigate these issues a mixed method research approach is utilized, by combining documentary analysis and in-depth interviews. More specifically, the study uses twelve years (2000 - 2011 data for eight banks in Ethiopia.   The findings show that profitability, size, tangibility and liquidity of the banks are important determinants of capital structure of banks in Ethiopia. However, growth and risk of banks are found to have no statistically significant impact on the capital structure of banks in Ethiopia. In addition, the results of the analysis indicate that pecking order theory is pertinent theory in Ethiopian banking industry, whereas there are little evidence to support static trade-off theory and the agency cost theory. Therefore, banks should give consideration to profitability, size, liquidity and tangibility when they determine their optimum capital structure.

South African banks and their online privacy policy statements: A content analysis

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Salah K. Kabanda

2010-09-01

Full Text Available In Internet banking and Internet-related transactions, security and privacy are of great concern. To alleviate these concerns, the South African government has promulgated the Electronic Communications and Transactions (ECT Act No. 25 of 2002. The Act regulates all electronic communication transactions in South Africa. Business organisations implement the Act by, for example, posting a privacy policy statement on their websites, which, in accordance with the requirements of the ECT Act, states how the organisation will use any personal identifiable information provided by the client. This study investigates whether South African banks that subscribe to the ECT Act comply with the principles relating to the protection of a consumer’s personal information. The study employed the research methods of content analysis and interviews. The findings indicate that some banks only complied with a few of the ECT Act principles, which, according to the interview respondents, undermines the levels of trust which are in play between their banks and themselves. The respondents themselves were not fully aware of all the ECT Act requirements. This lack of awareness results in consumers failing to assess the comprehensiveness of their bank’s policy statements and to what extent such banks comply with the ECT Act.

THE IMPLICATIONS OF MARKETING ACTIVITY IN RISK ANALYSIS, CORE ELEMENT OF LENDING POLICY TO COMMERCIAL BANKS

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Magda Florin-Mihai

2013-04-01

Full Text Available In the present financial context first affected by the lack of trust generated by the important bankruptcies in the USA and secondly by the global economic crisis, financial institutions are more than ever focused on applying market research, customer segmentation procedures and based upon them adapted credit strategies. The process is based on the fundaments of the marketing mix, much more carefully than before in order to maximize efficiency and market position or to consolidate, increase market share by taking advantage of opportunities or diminishing the effects of the present unfavorable economic climate. Analysis procedures based on differential risk models can be identified, the starting point being precisely the involvement of marketing by the market segmentation process and the concepts of “customer centricity” and “client relationship management”, specific credit policies being based upon them. The present paper intends to bring forth the client segmentation criteria practiced by top Romanian commercial banks, as the right segmentation process will reflect on the typology of financing over time. Furthermore, client segmentation tends to influence banking management in order to administer the risks arising from the credit activities, as it is in strict connection to the elements and processes involved in determining a correct rating of the applicants for funding.

Bank Size, Risk-taking and Capital Regulation in Bangladesh

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Mohammad M. RAHMAN

2015-05-01

Full Text Available This study examines the impact of bank size on bank regulatory capital ratios and risk-taking behavior using a panel dataset of 30 Bangladeshi commercial banks over the period 2008-2012. The relationship between bank regulatory capital ratios and bank risk-taking is also examined. For empirical analysis, generalized methods of moments (GMM panel method are used to explore the relationships among bank size, regulatory capital ratios and risk-taking behavior. Empirical results show that large banks hold lower amount of capital and take higher level of risk. Findings also show a reverse relationship between bank capital levels and bank risk-taking; that is, banks holding higher levels of regulatory capital are significantly less risky. Findings of this study has important implications for the Bangladeshi government, policy makers, banking regulators and bank stakeholders regarding bank size, regulatory capital requirements and overall banking sector risk-taking behavior.

The Third Pillar of the Basel Accord: Evidence of borrower discipline in the Kyrgyz banking system

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Edgar Demetrio Tovar-García

2016-07-01

Full Text Available We empirically study the asset side of market discipline in the banking system of the Kyrgyz Republic, examining whether borrowers are willing to pay higher interest rates to high-quality banks. Based on dynamic panel models and a dataset with bank information from 23 banks over the period 2010–2012, our findings suggest the presence of market discipline induced by borrowers. In other words, banks with higher capital ratios and liquidity charge higher interest rates on loans. This result has several implications for the banking policy in Kyrgyzstan, where we can recommend to policymakers a disclosure policy following the Third Pillar of Basel III, because not only can the bank's creditors use bank information to penalize the excessive bank risk, but borrowers can also use this information to discipline their banks.

Elder Financial Exploitation: Implications for Future Policy and Research in Elder Mistreatment

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Price, Thomas

2011-07-01

Full Text Available Recent advances in the understanding of elder mistreatment have demonstrated that financial exploitation tends to be one of the most common forms of mistreatment affecting older populations. Agencies such as the World Bank and World Health Organization show significant concern regarding financial exploitation and its connection to physical and emotional injury to victims. The World Bank uses the term “financial violence” as a means of generally describing the harm caused to an individual as a result of financial exploitation or abuse. The proportion of financial exploitation in relation to other forms of elder mistreatment is defined in our research. We discuss the potential impact of elder financial exploitation on victims as well as explore the implications for future research and policy development focused on financial aspects of elder mistreatment and call for further study in the concept of financial exploitation as a violent act. [West J Emerg Med. 2011;12(3:354-356.

Low tumour cell content in a lung tumour bank: implications for molecular characterisation.

Science.gov (United States)

Goh, Felicia; Duhig, Edwina E; Clarke, Belinda E; McCaul, Elizabeth; Passmore, Linda; Courtney, Deborah; Windsor, Morgan; Naidoo, Rishendren; Franz, Louise; Parsonson, Kylie; Yang, Ian A; Bowman, Rayleen V; Fong, Kwun M

2017-10-01

Lung cancer encompasses multiple malignant epithelial tumour types, each with specific targetable, potentially actionable mutations, such that precision management mandates accurate tumour typing. Molecular characterisation studies require high tumour cell content and low necrosis content, yet lung cancers are frequently a heterogeneous mixture of tumour and stromal cells. We hypothesised that there may be systematic differences in tumour cell content according to histological subtype, and that this may have implications for tumour banks as a resource for comprehensive molecular characterisation studies in lung cancer. To investigate this, we estimated tumour cell and necrosis content of 4267 samples resected from 752 primary lung tumour specimens contributed to a lung tissue bank. We found that banked lung cancer samples had low tumour cell content (33%) generally, although it was higher in carcinoids (77.5%) than other lung cancer subtypes. Tumour cells comprise a variable and often small component of banked resected tumour samples, and are accompanied by stromal reaction, inflammation, fibrosis, and normal structures. This has implications for the adequacy of unselected tumour bank samples for diagnostic and molecular investigations, and further research is needed to determine whether tumour cell content has a significant impact on analytical results in studies using tissue from tumour bank resources. Crown Copyright © 2017. Published by Elsevier B.V. All rights reserved.

12 CFR 1500.6 - What risk management, record keeping and reporting policies are required to make merchant banking...

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false What risk management, record keeping and... Banking DEPARTMENT OF THE TREASURY GENERAL PROVISIONS MERCHANT BANKING INVESTMENTS § 1500.6 What risk management, record keeping and reporting policies are required to make merchant banking investments? (a) What...

Main determinants of efficiency and implications on banking concentration in the European Union

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Rafael Bautista Mesa

2014-01-01

Full Text Available This study aims to measure the main determinants influencing bank efficiency. We suggest that the bank efficiency ratio, obtained from the income statement, is positively related to the size of a bank in terms of total assets. However, we believe that such a relationship cannot be maintained for banks over a certain size. By the use of the regression analysis method, we analyze the link between bank efficiency and bank size, using a sample of 3952 banks in the European Union. Our results show that the efficiency ratio stops improving for banks with total assets over $25 billion. Previous literature, using different analysis techniques, does not reach an agreement on this point. Furthermore, our study identifies further variables which negatively affect the efficiency of banks, such as competition and lending diversification, or affect them positively, such as the wholesale funding ratio and income diversification. Our findings imply the need for different bank policies depending on total assets, in order to limit the size and activities of banks.

The effect of monetary policy of Central Bank on activities of Tehran Stock Exchange

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Hossein Vazifehdust

2013-08-01

Full Text Available This paper examines the relationship between monetary policy and activity of the Tehran Stock Exchange. The statistical population of the research consists of all companies listed in Tehran Stock Exchange and central bank monetary policy variables including time series generated by the central bank seasonally. For the purpose of data analysis, econometric autoregressive system models, and two-stage ADF regression with unit roots test, co-integration and reliability were used to determine level of effect and type of effect of the four components of monetary policy on exchange activity. The results of this study show that there is a strong relation between share price index and monetary policy variables and between monetary policy variables and trading volume. However, the relation between monetary policy variables and cash yield index was not so strong, but monetary policy variables’ effect on stock exchange activity was acceptable considering strong relation between the two first variables. It is suggested that if this work is done using non-linear models, it will yield better results.

Financial Restructuring in Banking and Corporate Sector Crises: What Policies to Pursue?

OpenAIRE

Stijn Claessens; Daniela Klingebiel; Luc Laeven

2001-01-01

We review the literature on resolving bank and corporate sector crises to identify government policies that affect the depth of a crisis and the ease and sustainability of recovery, and to analyze their fiscal cost. A consistent framework - including sufficient resources for loss-absorption and private agents facing the right framework of sticks and carrots - is the, although often missing key to successful bank and corporate restructuring. Sustainability of restructuring calls for deeper str...

Strategic Planning And Performance Of Commercial Banks In Nigeria

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Hope Ngozi Nzewi

2015-05-01

Full Text Available Abstract This study explored the relationship between strategic planning and performance of commercial banks in Nigeria. Specifically it determined the nature of relationship that existed between total assets and profit after tax of the selected banks. Exploratory research design was employed.Secondary data were sourced from the Nigerian Exchange Fact Book 2011 to 2013. Linear regression and Pearson bivariate correlation analytical techniques were used. Findings revealed that there is a weak positive relationship between the total assets and profit after tax of the selected commercial banks. The policy implication is that any meaningful profitability of the commercial banks in Nigeria must ensure proper institution and comprehensive execution of the strategic planning processes by the various managers of the selected commercial banks.

Monetary policy change of the Central bank of Poland

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Kraś Ireneusz

2015-07-01

Full Text Available The National Bank of Poland is an institution which, in conjunction with the government is responsible for the implementation of country’s economic policy reinforces its democratic character. Provisions of its operation are governed by the Constitution of The Republic of Poland and by the Act on the National Bank of Poland. To this end, the objective of the present research is to analyse the proposed amendments in the Act on the NBP. The latter concerns the amendment procedures, term of office and the rotations and numbers of Monetary Policy Council. The remaining part of the analyses is dedicated to the issue of dismissal of a MPC’s member in conjunction with the prohibition of occupying other positions, the adoption of the NBP’s financial statements and the separation of instruments of monetary policy’s instruments for stability of domestic financial system. Introduced changes in the proposed draft reduce the independence of the NBP while making it more subject to the Cabinet. Following the result of further consultations on the draft of Act on the NBP, provisions which reduce the independence of the NBP shall be partially removed.

BANK LENDING EVOLUTION IN ROMANIA DURING 2008-2015

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Valentin Mihai LEOVEANU

2016-06-01

Full Text Available The period of global nuisance of banking and financial sector during the international financial crisis continues to have overwhelming implications in the current period, which requires careful research of monetary and financial phenomena locally and globally. In this sense, this article aims to highlight key aspects of the Romanian investment environment in the context of international economic environment and monetary policy transmission mechanisms in the Romanian economy. Following this approach, the study focuses on analyzing the financial position of banks operating in Romania, the evolution of lending by type of entity and positive/negative aspects about the impact of monetary policy measures and the NBR regulations on bank lending. The study shows conclusively the positive and the negative effects of lending evolution on the Romanian economy, on the solvency and bankruptcy risk of Romanian companies and on the behavior of debtors and creditors in credit relationships.

Empirical Analysis of Effects of Bank Mergers and Acquisitions on Small Business Lending in Nigeria

Science.gov (United States)

Ita, Asuquo Akabom

2012-11-01

Mergers and acquisitions are the major instruments of the recent banking reforms in Nigeria.The effects and the implications of the reforms on the lending practices of merged banks to small businesses were considered in this study. These effects were divided into static and dynamic effects (restructuring, direct and external). Data were collected by cross-sectional research design and were subsequently analyzed by the ordinary least square (OLS) method.The analyses show that bank size, financial characteristics and deposit of non-merged banks are positively related to small business lending. While for the merged banks, the reverse is the case. From the above result, it is evident that merger and acquisition have not only static effect on small business lending but also dynamic effect, therefore, given the central position of small businesses in the current government policy on industrialization in Nigeria, policy makers in Nigeria, should consider both the static and dynamic effects of merger and acquisition on small business lending in their policy thrust.

Credit supply and monetary policy : Identifying the bank balance-sheet channel with loan applications

NARCIS (Netherlands)

Jimenez Porras, G.; Ongena, S.; Peydro, J.L.; Saurina, J.

2012-01-01

We analyze the impact of monetary policy on the supply of bank credit. Monetary policy affects both loan supply and demand, thus making identification a steep challenge. We therefore analyze a novel, supervisory dataset with loan applications from Spain. Accounting for time-varying firm

Dilemma of deposit insurance policy in ASEAN countries: Does it promote banking industry stability or moral hazard?

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Suhal Kusairi

2018-03-01

Full Text Available The goal of this article is to investigate the influence of deposit insurance policy on the stability of the banking industry. Stability is measured by the ratio of retail deposits to total assets and the ratio of loans to total assets to cover both positive and negative impacts, and deposit insurance policy is assessed in various stages. The survey uses a data panel of 127 commercial banks from 2000 to 2013 in six member countries of the Association of Southeast Asian Nations (ASEAN. Using a dynamic panel data investigation, we obtain results showing that the implementation of deposit insurance policy negatively affects the ratio of retail deposits to total assets while positively influencing the ratio of loans to total assets. This is an important finding, as it implies that deposit insurance policy causes bank managers to take greater risks to increase their returns, rather than increasing the confidence level of depositors and ultimately increasing total deposits. This result is important for regulators as they evaluate deposit insurance policy and anticipate any negative outcomes that might follow.

Hazardous Times for Monetary Policy : What do Twenty-three Million Bank Loans Say about the Effects of Monetary Policy on Credit Risk?

NARCIS (Netherlands)

Jiminez, G.; Ongena, S.; Saurina, J.

2007-01-01

We investigate the impact of the stance and path of monetary policy on the level of credit risk of individual bank loans and on lending standards. We employ the Credit Register of the Bank of Spain that contains detailed monthly information on virtually all loans granted by all credit institutions

Comparison of Monetary Policy Actions and Central Bank Communication on Tackling Asset Price Bubbles-Evidence from China's Stock Market.

Science.gov (United States)

Sun, Ou; Liu, Zhixin

2016-01-01

We examine the different effects of monetary policy actions and central bank communication on China's stock market bubbles with a Time-varying Parameter SVAR model. We find that with negative responses of fundamental component and positive responses of bubble component of asset prices, contractionary monetary policy induces the observed stock prices to rise during periods of large bubbles. By contrast, central bank communication acts on the market through expectation guidance and has more significant effects on stock prices in the long run, which implies that central bank communication be used as an effective long-term instrument for the central bank's policymaking.

Monetary and Fiscal Policy Coordination

OpenAIRE

Hanif, Muhammad N.; Arby, Muhammad Farooq

2003-01-01

Macroeconomic policies are meant to achieve non-inflationary, stable growth. There are two major groups of policy instruments to achieve the purpose; one is related to monetary conditions and the other to fiscal conditions. Monetary instruments are employed by the central bank and fiscal instruments are employed by ministry of finance. The objectives and implications of policy measures taken by the two institutions often conflict with each other and thus call for policy coordination for effec...

12 CFR 225.175 - What risk management, record keeping and reporting policies are required to make merchant banking...

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 3 2010-01-01 2010-01-01 false What risk management, record keeping and... risk management, record keeping and reporting policies are required to make merchant banking... conduct, monitor and manage such investment activities and the risks associated with such investment...

Systemic risk and heterogeneous leverage in banking networks

Science.gov (United States)

Kuzubaş, Tolga Umut; Saltoğlu, Burak; Sever, Can

2016-11-01

This study probes systemic risk implications of leverage heterogeneity in banking networks. We show that the presence of heterogeneous leverages drastically changes the systemic effects of defaults and the nature of the contagion in interbank markets. Using financial leverage data from the US banking system, through simulations, we analyze the systemic significance of different types of borrowers, the evolution of the network, the consequences of interbank market size and the impact of market segmentation. Our study is related to the recent Basel III regulations on systemic risk and the treatment of the Global Systemically Important Banks (GSIBs). We also assess the extent to which the recent capital surcharges on GSIBs may curb financial fragility. We show the effectiveness of surcharge policy for the most-levered banks vis-a-vis uniform capital injection.

The adaptation of monetary policy to the constraints of the global financial crisis by central banks of ASEAN-5 countries

Directory of Open Access Journals (Sweden)

Sorina BOTIŞ

2015-12-01

Full Text Available Global financial crisis represented an important test for central banks, generating multiple challenges that gave rise to both expanding their monetary policy tools and redefining its role in the financial system. The present work aims to identify the characteristics of the monetary policy by the central banks of the five countries belonging to ASEAN-5 Group(Indonesia, Malaysia, the Philippines, Singapore and Thailand, during and after the outbreak of the international financial crisis. For this purpose we carried out a comparative analysis between the five central bank s belonging to the Group, both in terms of the challenges of the monetary policy and the type of measures taken in response to the first. The analysis shows that central banks have different levels of responsibilities, corresponding to the internal economic and financial realities, and also different ways of adaptation and adjustment of their monetary policy.

Factors Affecting Customers Adoption of Internet Banking in Pakistan

Directory of Open Access Journals (Sweden)

Samia Abbasi

2017-06-01

Full Text Available Unlike many developed countries, internet banking is a new phenomenon for Pakistani consumers as majority of banking customers seems to be fairly unfamiliar with different aspects of this service. This can be due to the diverse educational backgrounds, level of internet access, personal experiences and different socio-cultural backgrounds of customers. The present study looked at various factors influencing adoption of internet banking in Pakistan. The study used survey methodology with a sample of 250 individuals. Results of the research revealed reluctance to change has no significant impact on adoption of internet banking. On other hand access to internet, ease of use and security and privacy are found to be critical factors influencing adoption of internet banking. The results of the present study may facilitate policy makers and bank management to advance electronic banking services in Pakistan in a befitting manner. Lastly, managerial implications, study limitations and future research directions are provided.

Public policy for start-up entrepreneurship with venture capital and bank finance

DEFF Research Database (Denmark)

Keuschnigg, Christian; Nielsen, Søren Bo

2003-01-01

This paper proposes and analyses a model of start-up investment. Innovative entrepreneursare commercially inexperienced and can benefit from venture capital support. Only part ofthem succeed in matching with a venture capitalist while the rest must resort to standard bankfinance. We consider a nu...... a number of policies to promote entrepreneurship and venture capitalbacked innovation.JEL Classification: D82, G24, G28, H24.Keywords: venture capital bank finance, matching, moral hazard, public policy....

Wheeling and Banking Strategies for Optimal Renewable Energy Deployment. International Experiences

Energy Technology Data Exchange (ETDEWEB)

Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Vora, Ravi [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mathur, Shivani [National Renewable Energy Lab. (NREL), Golden, CO (United States); Madrigal, Paola [Energy Regulatory Commission (Mexico); Chatterjee, Sushanta K. [Central Electricity Regulatory Commission (India); Shah, Rakesh [SunEdison, Mumbai (India)

2016-03-01

This paper defines the principles of wheeling (i.e., transmission) tariffs and renewable energy (RE) banking provisions and their role in RE deployment in countries with plans for large-scale RE. It reviews experiences to date in the United States, Mexico, and India and discusses key policy and regulatory considerations for devising more effective wheeling and/or banking provisions for countries with ambitious RE deployment targets. The paper addresses the challenges of competing needs of stakeholders, especially those of RE generators, distribution utilities, and transmission network owners and operators. The importance of wheeling and banking and their effectiveness for financial viability of RE deployment is also explored. This paper aims to benefit policymakers and regulators as well as key renewable energy stakeholders. Key lessons for regulators include: creating long-term wheeling and banking policy certainty, considering incentivizing RE through discounted transmission access, and assessing the cost implications of such discounts, as well as expanding access to renewable energy customers.

Real Implications of Bursting Asset Price Bubbles in Economies with Bank Credit

Czech Academy of Sciences Publication Activity Database

Derviz, Alexis

2011-01-01

Roč. 61, č. 1 (2011), s. 92-116 ISSN 0015-1920 Institutional research plan: CEZ:AV0Z10750506 Keywords : bank * credit * asset price * bubble * macroprudential policy Subject RIV: AH - Economics Impact factor: 0.346, year: 2011

Monetary policy implications of financial innovation: In-depth analysis

OpenAIRE

Bernoth, Kerstin; Gebauer, Stefan; Schäfer, Dorothea

2017-01-01

In this policy brief, we argue that the financial innovations triggered by the FinTech industry have the potential to affect the transmission of monetary policy as well as the informational content of important monetary indicators. The growing FinTech industry could contribute substantially to the emergence of nonbank finance as a substitute for traditional commercial bank finance. While the overall effect of nonbank finance on monetary policy transmission is not yet clear, we argue that regu...

The central bank issuing policy and Fisher´s equation of exchange

Directory of Open Access Journals (Sweden)

Richard Pospíšil

2013-05-01

Full Text Available The issue of money and establishing interest rates are the main activities of central banks. Through this, the banks immediately influence the behaviour of households, companies, financial markets and the state with the impact on real outcome, employment and prices. When monitoring the issue of money, it is necessary to focus not only on its volume, but also on the attributes and functions carried by money. Among the first economists who considered the quality monetary aspect were J. Locke, D. Hume, D. Ricardo and others. The founders of modern monetarism of the 20th century were I. Fisher and M. Friedman. Fisher was the first to define the equation of monetary equilibrium in the present-day form. The objective of the paper is to point out different approaches to the equation and its modifications and different meanings of its variables. As regards the monetary aggregate M – Money – the paper also deals with the denomination of the aggregate to its various elements, which is significant for fulfilling monetary policy targets. This approach is very important especially at present in the time of crisis when central banks are performing their policy considering contradictory targets of price stability and economic growth.

Mobile Phone Banking Usage Behaviour: An Australian Perspective

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Majharul Talukder

2014-12-01

Full Text Available While the use of mobile phones in financial transactions is witnessing phenomenal growth at the international level, its growth has been relatively slow in Australia. Drawing on the theory of reasoned action and technology adoption framework, this paper reports the results concerning a survey of mobile phone users for banking transactions in Australia. The paper specifically identified the factors affecting usage behaviour when mobile phone banking services were engaged. The findings broaden and deepen our understanding of the usage of mobile-based banking in the information age. This paper contributes to the knowledge of this subject by including identification and testing of constructs of predictors regarding mobile phone banking, which are additional to those employed in the extant theories indicated above. The findings of this paper have important policy implications for banks in terms of understanding the underlying factors that drive customers’ mobile banking for financial transactions. Accordingly, design strategies have been developed to promote mobile phone banking – a cost effective channel for delivering financial services.

Economic and policy implications of pandemic influenza.

Energy Technology Data Exchange (ETDEWEB)

Smith, Braeton J.; Starks, Shirley J.; Loose, Verne W.; Brown, Theresa Jean; Warren, Drake E.; Vargas, Vanessa N.

2010-03-01

Pandemic influenza has become a serious global health concern; in response, governments around the world have allocated increasing funds to containment of public health threats from this disease. Pandemic influenza is also recognized to have serious economic implications, causing illness and absence that reduces worker productivity and economic output and, through mortality, robs nations of their most valuable assets - human resources. This paper reports two studies that investigate both the short- and long-term economic implications of a pandemic flu outbreak. Policy makers can use the growing number of economic impact estimates to decide how much to spend to combat the pandemic influenza outbreaks. Experts recognize that pandemic influenza has serious global economic implications. The illness causes absenteeism, reduced worker productivity, and therefore reduced economic output. This, combined with the associated mortality rate, robs nations of valuable human resources. Policy makers can use economic impact estimates to decide how much to spend to combat the pandemic influenza outbreaks. In this paper economists examine two studies which investigate both the short- and long-term economic implications of a pandemic influenza outbreak. Resulting policy implications are also discussed. The research uses the Regional Economic Modeling, Inc. (REMI) Policy Insight + Model. This model provides a dynamic, regional, North America Industrial Classification System (NAICS) industry-structured framework for forecasting. It is supported by a population dynamics model that is well-adapted to investigating macro-economic implications of pandemic influenza, including possible demand side effects. The studies reported in this paper exercise all of these capabilities.

Bank Relationship and Firm Profitability

NARCIS (Netherlands)

Degryse, H.A.; Ongena, S.

2000-01-01

This paper examines how bank relationships affect firm performance. An empirical implication of recent theoretical models is that firms maintaining multiple bank relationships are less profitable than their single-bank peers. We investigate this empirical implication using a data set containing

Central Banking after the Crisis

OpenAIRE

Frederick S. Mishkin

2013-01-01

This paper explores where central banking is heading after the recent financial crisis. First it discusses the central bank consensus before the crisis and then outlines the key facts learned from the crisis that require changes in the way central banks conduct their business. Finally, it discusses four main areas in which central banks are altering their policy frameworks: 1) the interaction between monetary and financial stability policies, 2) nonconventional monetary policy, 3) risk manage...

A diaper bank and home visiting partnership: Initial exploration of research and policy questions.

Science.gov (United States)

Sadler, Lois S; Condon, Eileen M; Deng, Shirley Z; Ordway, Monica Roosa; Marchesseault, Crista; Miller, Andrea; Alfano, Janet Stolfi; Weir, Alison M

2018-03-01

The cost of diapering an infant can place a significant financial strain on families living in poverty. Partnerships between diaper banks and home visiting programs for young families may offer an innovative solution to expanding the reach and impact of diaper banks in low-income communities. The purpose of this pilot study was to uncover preliminary information about the functions of diaper distribution through home visiting programs, and to inform future research and policy questions regarding diaper distribution to families in need. In this descriptive qualitative pilot study, semi-structured interviews were conducted with 6 home visitors from Minding the Baby ® (MTB), a home visiting intervention for young parents. MTB clinicians routinely distribute diapers in partnership with The Diaper Bank in Connecticut. We used directed content analysis to code and analyze interview transcripts. These preliminary findings indicate that partnerships between home visiting programs and diaper banks may benefit families by improving diaper access, reducing stigma, and fostering trusting relationships with home visitors. Home visiting program benefits including engagement or re-engagement with families may need to be balanced with potential effects on clinical and therapeutic relationships. Recommendations for next steps in research and related policy questions are discussed. © 2017 Wiley Periodicals, Inc.

12 CFR 614.4070 - Loans and chartered territory-Farm Credit Banks, agricultural credit banks, Federal land bank...

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Loans and chartered territory-Farm Credit Banks..., provided such loans are authorized by the policies of the bank and/or association involved, do not constitute a significant shift in loan volume away from the bank or association's assigned territory, and are...

Environmental management: The bank's policy approach

International Nuclear Information System (INIS)

1992-01-01

In order to play a leadership role in the environmental recovery of central and eastern Europe, the Bank will pursue the following policy priorities: assistance to the countries of operations in environmental policy formulation, including the development of effective legal and regulatory instruments, the adoption of appropriate emissions and effluents standards and the creation of the institutional and human resources capacity to monitor and enforce them; promoting the use of a variety of economic instruments to address the underlying cause of environmental degradation and the adoption of market-based techniques in environmental management programmes; encouraging the development of an environmental goods and services industry in the countries of operations, of commercially viable investments in environmental technologies and pollution prevention and control, and by funding environmental infrastructure projects; initiation of, or support for, special studies and programmes to address regional and national environmental problems and to promote environmental education within the population and institutions of the countries of operations; adoption of adequate environmental assessment, management planning, audit and monitoring procedures throughout its activities; and promoting the adoption and implementation of procedures for provision of information to, and consultation with, all levels of government and the general public - especially potentially affected parties - concerning environmental matters

Monetary Policy Committee and Monetary Policy Conduct in Nigeria: A Preliminary Investigation

OpenAIRE

Ekor, Maxwell; Saka, Jimoh; Adeniyi, Oluwatosin

2014-01-01

The study provides an incisive but preliminary investigation into the activities of the monetary policy committee of the central bank of Nigeria and the implications for monetary policy, using the standard deviation measure of volatility and the ordinary least square method. The findings show that the ‘internal’ members and majority of the ‘external’ members have different preferences as shown in the voting patterns. Also, there has been reduction in inflation, money and stock markets vola...

Banking biological collections: data warehousing, data mining, and data dilemmas in genomics and global health policy.

Science.gov (United States)

Blatt, R J R

2000-01-01

While DNA databases may offer the opportunity to (1) assess population-based prevalence of specific genes and variants, (2) simplify the search for molecular markers, (3) improve targeted drug discovery and development for disease management, (4) refine strategies for disease prevention, and (5) provide the data necessary for evidence-based decision-making, serious scientific and social questions remain. Whether samples are identified, coded, or anonymous, biological banking raises profound ethical and legal issues pertaining to access, informed consent, privacy and confidentiality of genomic information, civil liberties, patenting, and proprietary rights. This paper provides an overview of key policy issues and questions pertaining to biological banking, with a focus on developments in specimen collection, transnational distribution, and public health and academic-industry research alliances. It highlights the challenges posed by the commercialization of genomics, and proposes the need for harmonization of biological banking policies.

Policy and Economics of Managed Aquifer Recharge and Water Banking

Directory of Open Access Journals (Sweden)

Sharon B. Megdal

2015-02-01

Full Text Available Managed Aquifer Recharge (MAR and water banking are of increasing importance to water resources management. MAR can be used to buffer against drought and changing or variable climate, as well as provide water to meet demand growth, by making use of excess surface water supplies and recycled waters. Along with hydrologic and geologic considerations, economic and policy analyses are essential to a complete analysis of MAR and water banking opportunities. The papers included in this Special Issue fill a gap in the literature by revealing the range of economic and policy considerations relevant to the development and implementation of MAR programs. They illustrate novel techniques that can be used to select MAR locations and the importance and economic viability of MAR in semi-arid to arid environments. The studies explain how MAR can be utilized to meet municipal and agricultural water demands in water-scarce regions, as well as assist in the reuse of wastewater. Some papers demonstrate how stakeholder engagement, ranging from consideration of alternatives to monitoring, and multi-disciplinary analyses to support decision-making are of high value to development and implementation of MAR programs. The approaches discussed in this collection of papers, along with the complementary and necessary hydrologic and geologic analyses, provide important inputs to water resource managers.

The impact of ownership structure on bank credit risk: Evidence from Bangladesh

Directory of Open Access Journals (Sweden)

Niluthpaul SARKER

2017-05-01

Full Text Available This study investigates the impact of ownership structure of Commercial Banks on bank credit risk in an emerging market like Bangladesh. Prais Winten regression model is applied to a sample of 32 commercial banks from the year of 2000 to 2014 with 390 observations. The result reveals that National Commercial Banks, depositors’ influence, shareholders’ influence, liquidity and profitability are negatively associated with credit risk whereas lag risk has a significant positive impact on credit risk. The effect of banks ownership structure on credit risk divulges a delicate governance of the banking sector. The study conveys a momentous implication of research findings in the national economy. It also found that national commercial banks have the tendency of violating the rules and absorbing heavy risk. It suggests that policy maker should rethink about the government ownership of banks. Therefore the denationalization or reducing government ownership structure is highly recommended.

BANK RUN AND STABILITY OF ISLAMIC BANKING IN INDONESIA

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Rahmatina A. Kasri

2017-08-01

Full Text Available Bank run is an important economic phenomenon which increasingly occurred in in modern banking system and potentially threatened banking stability as it could trigger a banking crisis. However, most studies related to bank run focus on the occurrence of bank run in conventional banking system. Very few of them discuss the bank run phenomenon under Islamic banking system or dual banking system where Islamic banks jointly operating with conventional banks. Therefore, this study attempts to analyze the determinants of bank run in the Indonesian Islamic banking industry by employing primary data from 256 customers of Indonesia Islamic banks in 2015 and by utilizing factor analysis and descriptive statistics. In theory, Islamic banks tend to be more resilient towards any macroeconomic or financial shocks as compared to conventional banks due to the nature of its asset-based and risk-sharing arrangement. However, the result exhibits that both psychological and fundamental factors (i.e. macroeconomics and bank fundamentals strongly influence the behaviors of Islamic banking depositors to withdraw their funds, which might trigger the occurrence of bank runs in the country. Insider information, macroeconomic condition and bank fundamental factors are also shown to have the highest impacts among all variables. Hence, in the context of banking stability, the finding implies that Islamic banks are not completely immune to the impacts of macroeconomic shocks or financial crisis. As a country with a dual banking system, Indonesia had experienced several bank runs since 1990s. Therefore, the findings of the study should provide the policy makers important insight into research based-policy in order to attain financial stability as one of the main economic goals of the country. Keywords: Bank run, Islamic bank, Factor analysis, Indonesia JEL Classification: C83, G21, G28

ABOUT FEW APPROACHES TO COMMERCIAL BANK PERCENTAGE POLICY CONSTRUCTION IN CREDITING POPULATION

Directory of Open Access Journals (Sweden)

A.A. Kuklin

2007-06-01

Full Text Available In the article we consider some aspects of Russian Federation and Sverdlovsk region bank sector development and few principles of credit organization percentage policy construction. We also describe interest rate calculation methods depending on currency toolkit and the received results of using the methods in reference to population crediting development. Besides we give some offers on increasing management efficiency of percentage policy and decreasing delayed credit debts level and some offers on specification of population crediting development forecasts in Sverdlovsk region.

Bank Portfolio Structure and Economic Absorption Theory of Economic Development: A Theoretical Proposition

Directory of Open Access Journals (Sweden)

Uduak B. UBOM

2016-11-01

Full Text Available The focus of this article was on theoretical proposition of Bank Portfolio Structure and Economic Absorption Theory of economic development. Specifically, the work sought to establish the basis of bank portfolio rigidity and to identify the causes of economic absorption problems and their implications on economic development. The theoretical and conceptual research designs were used. Existing literatures were reviewed using archival retrieval approach, library search and internet exploration. The information obtained was judgmentally, logically and qualitatively analyzed. It was discovered among others, that, bank portfolio rigidity stems from regulatory policy defects using inconsistent monetary policy tools such as high liquidity ratio and cash ratio, etc. and compelling the banks to adhere to the regulatory requirement, as well as lack of adequate and quality stock of infrastructure and technology as the basic causes of economic absorption problems. Above all, low level of economic absorption has been discovered to hinder effective contributions of banks to economic development. Following from above, it was therefore recommended that regulatory tools used by Central Banks should be aligned with the development needs of the economy and the direction of governments. The monetary policy tools such as liquidity and cash ratios should also be moderated and stabilized for stable bank portfolio performance as well as aggressive improvement in the stock and quality of infrastructure and technology within an economy. With the new theory, it is expected that policy formulations and adjustments concerning bank portfolio structure and management would be designed with adequate flexibility and focus on long term loans and investments coupled with improved stock and quality of infrastructure to enhance economic development. This theory therefore provides another frontier of research on bank portfolio structure and contributions to economic development.

Competition and market contestability of banks: Evidence from emerging financial market

Directory of Open Access Journals (Sweden)

Muntazir Hussain

2014-05-01

Full Text Available The study is an attempt to investigate the nature of competition and market contestability of 35 Pakistani banks for the period of 2007-2011 by employing Panzar and Rosse (PR-model. The test of competition overall sample (2007-2011 suggest that banks in Pakistan in state of monopolistic competition and market is in equilibrium. The sub sample (2007-2009 result of competition and equilibrium are similar as for sample period (2007-2011 suggesting that revenue produced during this period is state of monopolistic competition. Finally the results of sample period (2010-2011 suggest that banks in Pakistan are instate of perfect competition however, the market in not in long-run equilibrium. The results have interesting policy implications; it is suggested to encourage the foreign banks presence to improve the competitive condition of banking industry so that to ensure the exit and entrance of banks in the industry to increase the competition and produce the variety of product to improve banks performance and customer satisfaction.

The dialog between health and foreign policy in Brazilian cooperation in human milk banks.

Science.gov (United States)

Pittas, Tiago Mocellin; Dri, Clarissa Franzoi

2017-07-01

Mother's milk is the primary source of nourishment in early infancy. When this source is unavailable, secondary sources may be used, such as human milk banks. The first milk bank in Brazil was created in 1943, and they have been used ever since. A national model was developed through a number of phases, culminating in the Brazilian Network of Human Milk Banks. This gave rise to a number of international cooperation projects, with the Brazilian model particularly relevant for developing nations. The main objective of this analysis is to understand what drives Brazil to promote milk banks internationally. To do this we tried to understand the relationship between health and foreign policy, expressed here as soft power, as here the two areas dialog with one another. The results include gains in both areas and the affirmation of health as a central goal of the national interest cluster of the case.

Optimised to Fail: Card Readers for Online Banking

Science.gov (United States)

Drimer, Saar; Murdoch, Steven J.; Anderson, Ross

The Chip Authentication Programme (CAP) has been introduced by banks in Europe to deal with the soaring losses due to online banking fraud. A handheld reader is used together with the customer’s debit card to generate one-time codes for both login and transaction authentication. The CAP protocol is not public, and was rolled out without any public scrutiny. We reverse engineered the UK variant of card readers and smart cards and here provide the first public description of the protocol. We found numerous weaknesses that are due to design errors such as reusing authentication tokens, overloading data semantics, and failing to ensure freshness of responses. The overall strategic error was excessive optimisation. There are also policy implications. The move from signature to PIN for authorising point-of-sale transactions shifted liability from banks to customers; CAP introduces the same problem for online banking. It may also expose customers to physical harm.

Size, Diversification and Risk: Preliminary Evidence from Commercial Banks in Pakistan

Directory of Open Access Journals (Sweden)

Ayesha Afzal

2012-12-01

Full Text Available The aim of this paper is to provide some preliminary evidence on relation between size, diversification and risk in commercial banks of Pakistan. Using a panel of Pakistani banks, we investigated whether bigger banks are better diversified than smaller banks.The results suggested that larger banks were more diversified than their smaller counterparts mainly on account of their outreach and size of credit portfolio. On the risk side, based on accounting and market based risk measures, we explored if there is any impact of diversification on risk. We could not deduce significant result in favor of accounting risk measure of impaired lending signaling that banks find no incentive in diversification of credit books. The market based measures of VaR and Default indicator were significantly related to diversification signifying that market participants consider diversification as a relevant tool for risk mitigation. These findings have policy implications for regulators and risk management to ensure stability in financial system.

The Bank Lending Channel: Evidence from Australia

Directory of Open Access Journals (Sweden)

Luke Liu

2014-06-01

Full Text Available This study explores how monetary policy changes flow through the banking sector in Australia. Drawing on data between 2004 and 2010, we divide banks into three groups according to their size, and examine the impact of that cash rate change on lending of different types of loans. We find the response of bank lending after a monetary policy change varies with the size of the bank as well as the types of loan. Smaller banks are more sensitive to policy rate changes, and household loans, government loans and intra-group loans are less responsive to monetary policy compared with financial and non-financial loans.

Comparison of Monetary Policy Actions and Central Bank Communication on Tackling Asset Price Bubbles—Evidence from China’s Stock Market

Science.gov (United States)

Sun, Ou; Liu, Zhixin

2016-01-01

We examine the different effects of monetary policy actions and central bank communication on China’s stock market bubbles with a Time-varying Parameter SVAR model. We find that with negative responses of fundamental component and positive responses of bubble component of asset prices, contractionary monetary policy induces the observed stock prices to rise during periods of large bubbles. By contrast, central bank communication acts on the market through expectation guidance and has more significant effects on stock prices in the long run, which implies that central bank communication be used as an effective long-term instrument for the central bank’s policymaking. PMID:27851796

The cross-country implications of alternative climate policies

International Nuclear Information System (INIS)

Li, Aijun; Du, Nan; Wei, Qian

2014-01-01

Because of worldwide growing concerns about global climate change, great interest has been expressed in the potential of alternative climate policies to reduce global carbon emissions. In this paper, we compare cross-country implications of alternative climate policies, including unilateral and multilateral climate policies. Our main findings are as follows. Firstly, there are large differences in cross-country effects of alternative unilateral climate policies, when the same given carbon emission reductions are achieved in each abating country respectively. Meanwhile, cross-border externalities undermine efficiency of unilateral climate policies. Secondly, there are significant differences in cross-country implications of alternative multilateral climate policies, when the same global emission reductions are allocated in several different ways among abating countries. Thirdly, it is difficult to reach a stable global climate treaty, since any abating country has the incentive to argue for small carbon emission reductions. Finally, multilateral climate policies can reduce the negative impacts of cross-border externalities, but cannot cure all cross-border externalities. Looking ahead, it will be a great policy challenge for the world to reduce carbon emissions in a cost-effective way. - highlights: • We compare impacts of unilateral climate policies across countries. • We compare effects of alternative multilateral climate policies. • We explore whether cross-border externalities disappear under multilateral climate policies

The Effect of Central Bank Policy Decisions on Stock Market Returns in Chile

Directory of Open Access Journals (Sweden)

Andrés A. Acuña

2015-06-01

Full Text Available This paper analyzes the stock-market response to monetary policy decisions made by the Central Bank of Chile.  We use a methodology designed for the study of low frequency events and monthly data from September 2001 to December 2013 to estimate the effect of anticipated and unanticipated changes in the Chilean monetary policy interest rate on stock returns.  In contrast to the research findings in the literature for the U.S., we find no evidence that monetary surprises affect Chilean stock returns.

Accountability of central banks: aspects and quantification

Directory of Open Access Journals (Sweden)

J. DE HAAN

1999-06-01

Full Text Available The work examines the relationship between central bank independence and accountability. The authors do this by using an indicator for central bank accountability based on the laws of 16 central banks. Central bank accountability is identified as having three distinct features, namely, the explicit definition and ranking of the objectives of monetary policy, the transparency of the actual monetary policy, and the final responsibility to monetary policy.

Banks on Notice

Institute of Scientific and Technical Information of China (English)

无

2009-01-01

Regulators issue policies to guide China’s banks as massive loans compromise the banking sector’s ability to contain future risks R egulatory departments are strengthening their supervision over financial institutions to prevent an incomprehensible financial scenario from unfolding: the failure of the Chinese banking

Adjusting policy to institutional, cultural and biophysical context conditions: The case of conservation banking in California

Science.gov (United States)

Carsten Mann; James D. Absher

2013-01-01

This paper examines the political construction of a policy instrument for matching particular institutional, biophysical and cultural context conditions in a social–ecological system, using the case of conservation banking in California as an example. The guiding research question is: How is policy design negotiated between various actors on its way from early...

12 CFR 615.5144 - Banks for cooperatives and agricultural credit banks.

Science.gov (United States)

2010-01-01

... such activities constitute a materially important line of business to its members. Also, investments... banks. 615.5144 Section 615.5144 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Investment Management § 615...

12 CFR 225.143 - Policy statement on nonvoting equity investments by bank holding companies.

Science.gov (United States)

2010-01-01

... CONTROL (REGULATION Y) Regulations Financial Holding Companies Interpretations § 225.143 Policy statement on nonvoting equity investments by bank holding companies. (a) Introduction. (1) In recent months, a... company has the power, directly or indirectly, to exercise a controlling influence over the management or...

Taking bail-in seriously: The looming risks for banking policy in the rescue of Monte Paschi di Siena

OpenAIRE

Götz, Martin; Krahnen, Jan Pieter; Tröger, Tobias

2017-01-01

According to the Bank Recovery and Resolution Directive (BRRD), introduced as a lesson from the recent financial crisis, the losses a failing bank incurred should generally be borne by its investors. Before a minimum bail-in has occurred, government money can only be injected in emergency cas-es to remedy a serious disturbance in the economy and to preserve financial stability. This policy letter argues that in case of the Italian Bank Monte dei Paschi di Siena (MPS), which the Italian gov-er...

IMPLICATIONS OF CROSS-BORDER MERGERS AND ACQUISITIONS IN THE POLISH BANKING SECTOR IN THE CONTEXT OF THE GLOBAL FINANCIAL CRISIS

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ZBIGNIEW KORZEB

2010-01-01

Full Text Available The article presents the implications of the global financial crisis upon the Polish banking sector, formed under the influence of cross-border mergers and acquisitions. It illustrates the consequences of financial problems of foreign strategic shareholders in banks operating in Poland upon the stability of the entire banking system. It presents the proposed future directions of action to protect the stability of the banking system. It seems that in the case of a banking system as special as the Polish one, the key role will belong to the quality of the three main pillars of control over the work of banks: supervisory institutions, market discipline an corporate governance.

INSTITUTIONS, POLICIES AND EFFICIENCY IN ECONOMIES

OpenAIRE

Pavel Stoynov

2007-01-01

There are cases where the governments may not always serve the public interest. The implication seems to be that governments can help out but only if properly constrained. The impact of these ideas on monetary policy led to creation of Central banks. As far as fiscal policymaking is concerned, the evolution has been slower. It would seem that we are now ready to move to the next step, replacing rules with adequate incentives backed by institutions - fiscal policy committees.

Market-Driven Management: the Policy Implications

OpenAIRE

Bellini, Nicola

2008-01-01

The first policy implication of the diffusion of a Market-Driven Management approach is the same as the spreading of globalization, i.e. the obsolescence of industrial policies as traditionally designed and managed by Nation-States with the established toolbox of protectionism and subsidies, picking 'national champions', etc. The growing asymmetry between the physical jurisdiction of political bodies and the global operation space of modern corporations feeds the apparent trend toward company...

About The Future Of The Institution Of The Central Bank

Directory of Open Access Journals (Sweden)

POP Napoleon

2012-12-01

Full Text Available The evolution of the financial crisis is touching more and more the future of the central banks by forcing them, for the sake of solutions to the sovereign debts, to do what in so far appeared almost impossible. We can presume such a future, but for the moment we have to observe that central banks, mainly those emitting money used as reserve currencies – for example FED or ECB – are confronted with a strong depletion of their monetary instruments (their monetary policy interest rates are around zero and a great expansion of their balance sheet as an excuse for being the lenders of last resort. At this point, we have to discuss the perverse effect of reaching the minimum efficacy of the instruments used by the central banks regarded as institution and not only as policy makers enjoying a quite long historical building of their credibility and independence. The latest context of the expansion of their balance sheet is giving strong arguments of their implication in fiscal policy, which might ruin their credibility at a time when we say that the core problem of the global economy is the lack of trust of the investors. The same thing is true with their independence, both issues being conducive to the challenge to the future role of the institution of the central bank. The present realities, encompassing already more than five years of seeking solutions to the crisis still in evolution, incite us to tackle with the outcome for the central banks having in mind that the institutions becoming what we feel today as being central banks are under a certain pressure which is affecting exactly their core features giving to them the greatness we were proud of.

Determinants of corporate dividend payment policies: A case of the banking industry in South Africa

Directory of Open Access Journals (Sweden)

Jason Kasozi

2015-10-01

Full Text Available Dividends are of strategic importance to organisations because they form the nexus of organisations’ capital structures and have an important bearing on firm value. Consequently, this study sought to investigate factors affecting dividend policy formulations and practices of South African banks by assessing the application of ex ante dividend theory literature on these firms. Our approach followed a mixed-methods design of analysis with a behavioural stand point of eliciting responses from banking experts through a survey. Findings indicate that factors relating to financial performance, investor needs and preferences and regulatory considerations are crucial for dividend decisions among banks. Overall, findings cast doubt on signalling, clientele and catering hypotheses, yet find favourable support for agency and lifecycle theories

Features of accounting organization of innovative banking products

Directory of Open Access Journals (Sweden)

V.P. Matvienko

2015-06-01

Full Text Available The article deals with the features of the accounting organization and procedure, particularly the formation of significant accounting policies in banks. Since commercial banks are an important part of the economy, the article identifies factors affecting the accounting organization and formation of accounting policy. The paper characterized the organizational, methodological and technological components of the accounting organization of innovative banking products. In this paper, the attention paid to the organizational structure of the accounting department and its changes in connection with the bank innovation. This article describes the structure of the accounting policies of the innovative banking products. Defined the role of of accounting policies of the innovative banking products in the organization of the accounting process. In the development of the Degree of the accounting policy of the bank should take into account certain elements of the accounting organization of innovative banking products. This will increase the information content and to accelerate the provision of answers to questions, providing the information to optimize the management of innovation processes and the identification of the bank’s assets and expenses for banking innovation.

An Evaluation of Banks' Liability in Robbery Incidents at Banks ...

African Journals Online (AJOL)

The spate of armed robbery attack on banks in the last decade has been alarming. It is hoped with the current Central Bank of Nigeria (CBN) cashless policy there will be a drastic drop in such incidents. However, the issue of armed robbery attack at the bank premises brings to the fore two issues which are of paramount ...

Banking crises : A review

NARCIS (Netherlands)

Laeven, L.

2011-01-01

This review surveys the theoretical and empirical literature on the causes and consequences of banking crises, and summarizes the lessons learned from policy interventions to resolve banking crises. Despite their different origins, banking crises display similar patterns. Their causes lie in

IMPROVING DEPOSIT POLICY BANK ON THE BASIS OF ANALYSIS OF THE INFLUENCE OF DEPOSIT PORTFOLIO STRUCTURE ON FORMATION OF INVESTMENT RESOURCE

Directory of Open Access Journals (Sweden)

Viadrova I.

2018-01-01

Full Text Available Introduction. The banking system as a part of the national economy contributes to the development of various branches of economy and trade, enabling the realization of economic interests of economic entities. One of the important tasks of the monetary system is the accumulation of financial resources necessary for the implementation of credit and investment projects and their further distribution. This task is performed by banking institutions by attracting funds from individuals and legal entities. The size of the bank’s resource base and the scale of its operations depend on the operations of attraction of funds. The priority task of the banking institution is the predominance of attracting long-term investments over short-term ones. That is why the problem that exists in the disproportion of the maturity of borrowed funds, the prevalence of short-term deposits over long-term and the minimum amount of long-term resources in the bank’s deposit portfolio is particularly relevant. Purpose. The purpose of the work is to generalize the theoretical aspects of bank deposit activity and to determine the optimal structure of the deposit portfolio for carrying out of credit and investment activity. Results. The article summarizes the essence of the concept of “deposit policy”, identifies the peculiarities of its formation and analyzes the main external and internal factors that have an impact on the deposit policy of domestic banks. The analysis of the dynamics and structure of deposit operations of banks at the state level was carried out and the analysis of deposit policy of a bank of foreign bank groups – PJSC “Ukrsotsbank” for 2010-2017 was provided. In this work, the factors of influence are investigated: external and internal, which determine the ways of formation of deposit policy by banks of Ukraine. The influence of the structure of the deposit portfolio of Ukrainian banks on the formation of the investment resource is analyzed

EMPIRICAL APPROACH UPON THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE AND INFLATION IN DEVELOPED AND DEVELOPING COUNTRIES

Directory of Open Access Journals (Sweden)

Dumiter Florin Cornel

2012-07-01

Full Text Available Central bank independence has become over time one of the key concepts in modern theory and policy. Most economists agree that central bank independence is desirable because it helps achieving and maintaining the long – term goal of price stability. Although one might think about alternative mechanisms to reach lower inflation rates, central bank independence is clearly the most often recomended. The empirical trends upon a more independent central bank with a more transparent and accountable monetary policy regime has emerged in economic literature regarding central banking and monetary economics. In recent years, starting from the Maastricht Treaty central bank independence has become the panacea of the monetary economics and monetary policy approaches. Moreover it is important to analyze and assess the impact of this key issue in central banking upon the inflation performances of the central banks. In this article we provide a qualitative overview upon some recent trends in the central bank independence field: does it still matter? How can be it evaluate and stress it’s impact upon macroeconomic performances, especially upon inflation. As we can observe in the economic literature upon central bank independence there are several approaches to use several indices in order to measure this qualitative and quatitative institutional variables. The most important debate is to eliminate the gap between de jure and de facto independence in order to flatten the measuring of institutional aspects, the legal implication, the constitutional facts and the actual practices of the central banks. Finally, we suggest that according to the new index for measuring central bank independence and inflation targeting index we can evaluate more accurate the degree of the de jure and de facto independence and stress the impact on inflation performance with a case study for ten developed countries and ten developing countries.

Kinerja Efisiensi Teknis Bank Pembangunan Daerah: Pendekatan Data Envelopment Analysis (DEA

Directory of Open Access Journals (Sweden)

Zaenal Abidin

2009-01-01

Full Text Available This research utilises the non-parametric frontier approach, Data Envelopment Analysis (DEA to analyze technical efficiency of the regional development banks (BPD. The data was during 2006-2007 covering 26 BPD in Indonesia. The result of study indicated that the regional of development bank did not achieve technical efficiency at the level of maximum (100%. On avarege, the big-asset of BPD are found to be more efficient than the middle and small asset. The study has important implications such as guiding the BPD policy regarding merger and bank intermediary. Since the study pinpoints the sources of inefficiency , it would also help banks with strategic planning Abstract in Bahasa Indonesia:Penelitian ini menggunakan pendekatan non-parametrik Data Envelopment Analysis untuk menganalisis efisiensi teknis Bank Pembangunan Daerah (BPD. Data yang digunakan selama 2006-2007 yang meliputi 26 bank BPD seluruh Indonesia. Hasil studi menunjukkan bahwa kinerja efisiensi teknis bank BPD belum mencapai tingkat efisiensi optimal 100 persen. Secara rata-rata, bank BPD beraset lebih besar lebih efisien daripada bank BPD beraset menengah dan kecil. Penelitian ini memiliki implikasi penting dalam rangka mengoptimalkan kinerja efisiensi maka bank kecil dan menengah harus melakukan merger dan meningkat fungsi intermediasi perbankan. 

ROMANIAN BANKS LIQUIDITY MANAGEMENT

Directory of Open Access Journals (Sweden)

BATRANCEA MARIA

2013-07-01

Full Text Available Most transactions or financial commitments have implications for a bank liquidity. Transactions are particularly vulnerable to liquidity problems at a specific institution. Therefore, one can deduce the importance of the correct calculation and liquidity indicator, not only for the bank concerned, but especially for NBR uses that bank risk management tool. That is why the authors took into consideration a sample of banks in Romania to show to what extent the banking crisis has influenced the development banks.

Ethics in the bank internet encounter

DEFF Research Database (Denmark)

Rendtorff, Jacob Dahl; Mattsson, Jan

2012-01-01

/implications – The important implication for managerial research of this study would be for banks to focus on customer competency with an ethical concern instead of only being concerned with technical solutions for effective internet operations. Practical implications – Since more and more businesses are digitally based......Purpose – The purpose of this paper is to discuss some ethical issues in the internet encounter between customer and bank. Empirical data related to the difficulties that customers have when they deal with the bank through internet technology and electronic banking. The authors discuss...... the difficulties that customers expressed from an ethical standpoint. Design/methodology/approach – The key problem of the paper is “how does research handle the user's lack of competence in a web-based commercial environment?” The authors illustrate this ethical dilemma with data from a Danish Bank collected...

Nigeria's National Population Policy and its Implications for ...

African Journals Online (AJOL)

Nigeria's National Population Policy and its Implications for Sustainable Development. Good Wilson. Abstract. Given the prevailing view that population policy has the potentials to reduce pressure of population on development and the attendant improvement of the welfare of people in society now and in the future, ...

Poverty crisis in the Third World: the contradictions of World Bank policy.

Science.gov (United States)

Burkett, P

1991-01-01

Politicians, the mainstream media, and orthodox social science have all been telling us of a final victory of capitalism over socialism, suggesting that capitalism is the only viable option for solving the world's problems. Yet, the global capitalist system is itself entering the third decade of a profound structural crisis, the costs of which have been borne largely by the exploited and oppressed peoples of the underdeveloped periphery. While the World Bank's latest World Development Report recognizes the current poverty crisis in the third world, its "two-part strategy" for alleviating poverty is based on an inadequate analysis of how peripheral capitalist development marginalizes the basic needs of the third world poor. Hence, the World Bank's assertion that free-market policies are consistent with effective antipoverty programs does not confront the class structures and global capitalist interests bound up with the reproduction of mass poverty in the third world. The World Bank's subordination of the basic needs of the poor to free-market adjustments and reforms in fact suggests that the real purpose of its "two-part strategy" is to ensure continued extraction of surplus from third world countries by maintaining the basic structure of imperialist underdevelopment.

Analysis of Environmental Accounting and Reporting Practices of Listed Banking Companies in Bangladesh

Directory of Open Access Journals (Sweden)

Md. Abdul Kaium Masud

2017-09-01

Full Text Available “Bangladesh faces many ecological challenges, including air and water contamination, land degradation, and waste management”. Bangladesh faces many ecological challenges, including air and water contamination, land degradation, and waste management. This study was designed to investigate the extent and nature of environmental accounting and reporting of listed banks in Bangladesh in 12 major categories. Information was collected from the annual reports of 20 banks listed on the Dhaka Stock Exchange for the period 2010 to 2014. The results indicate that the banks examined significantly disclosed environmental information for the 12 categories. The study found that banks disclosed the most environmental information for green banking and renewable energy categories, whereas they disclosed the least for environmental recognition and waste management categories. Furthermore, yearly comparison reveals that disclosure of environmental information increased sharply from 16% in 2010 to 83% in 2014. In addition, Bangladesh Bank’s recent fruitful initiatives on environmental disclosures were reviewed, and the findings of the 12 categories have managerial implications for policy makers in corporations as well as the government. It is recommended that professional accounting bodies of Bangladesh, along with international and government policy makers develop a separate conceptual framework for environmental accounting and reporting for the financial and non-financial sectors of the country.

Actual versus Perceived Central Bank Transparency : The Case of the European Central Bank

NARCIS (Netherlands)

van der Cruijsen, C.A.B.; Eijffinger, S.C.W.

2007-01-01

Central banks have become more and more transparent about their monetary policy making process. In the central bank transparency lit- erature the distinction between actual and perceived central bank trans- parency is often lacking. However, as perceptions are crucial for the ac- tions of economic

Liquidity provision vs. deposit insurance : preventing bank panics without moral hazard?

OpenAIRE

Antoine Martin

2001-01-01

In this paper I ask whether a central bank policy of providing liquidity to banks during panics can prevent bank runs without causing moral hazard. This kind of policy has been widely advocated, most notably by Bagehot (1873). To analyze such a policy, I build a model with three key features: 1) bank panics can occur in equilibrium, 2) there can be moral hazard, 3) the central bank can create money which is willingly held. I show that a particular central bank repurchase policy provides liqui...

Anti-crisis monetary policy on the example of selected central banks in 2007-2011

Directory of Open Access Journals (Sweden)

Łukasz Kluczyński

2015-04-01

Full Text Available The purpose of this article was to present the actions of the monetary authorities in the light of the recent financial crisis. Destabilization of global markets and the economic recession that began with the collapse of Lehman Brothers meant that the standard monetary policy emerged ineffective in combating the crisis. The article shows how two major central banks of the world that is, the FED and the ECB, through modifying the existing instruments of monetary policy and the introduction of completely new tools tried to restore liquidity in the financial markets, after the standard monetary policy instruments have been insufficient and ineffective. In contrast, activities of the NBP also shown, which were primarily preventive aspect.

IMPLICATIONS OF BANKING SUPERVISION ACROSS THE EUROPEAN MONETARY UNION, A SOVEREIGN DEBT CRISIS UPDATE

Directory of Open Access Journals (Sweden)

Simona Elena IAGAR

2015-09-01

Full Text Available The current paper analyses the latest measures taken by the main European governing bodies with regard to the banking supervision across the European Monetary Union (EMU following the ‘sovereign debt crisis’ phenomenon and its continuing effects throughout the Euro zone for the last five years. Officially preaching financial integration in order to ensure stability of the European banking system, most often the European governing bodies amplify the exact phenomena they expect to reduce doing more harm to both creditors and depositors and ultimately leading to a more fragile business banking environment. The importance of banks is acknowledged at European institutional level as main channel through which the monetary policy is triggered across EMU, therefore active measures have been taken in this regard. Questioning the extent to which these measures are legitimate and meet the purposes that they claim, constitutes the aim of the present paper. Another close linked purpose is a better understanding of what stability means, why it is important and what makes stability occur in a banking system. Having understood and set the theoretical grounds, it therefore follows easily to analyse through this glance the latest actions pursued by the European financial governing bodies focusing on the ones addressing supervision of the banking sector within EMU. The paper concludes and provides a set of recommendations by reminding the nature and role of banks for the real economy, the same objective the European financial governing bodies’ target, but which they consistently fail to meet.

Outsourcing central banking

DEFF Research Database (Denmark)

Khoury, Sarkis Joseph; Wihlborg, Clas

2005-01-01

The literature on Currency Boards (CB) stops at the water edge in terms of dealing with the totality of the functions of a central bank. Monetary policy, and banking supervisioncan be "outsourced" in an open economy with substantial foreign direct investment (FDI)in the banking sector if political...... nationalism does not trump economic rationality. An orthodox CB renders the central banking function redundant in terms of interest rate and exchange rate determination. FDI in banking could perform the same role for the supervisory function of central banks. We use the case of Estonia to illustrate...... the feasibility of, and constraints on, outsourcing of central bank functions. A brief discussion of the Argentinian experience is used for contrast.Key words: Currency Board, Foreign Banks, Supervision, Regional Integration,outsourcing....

Bank Lending, Housing and Spreads

DEFF Research Database (Denmark)

Aslam, Aqib; Santoro, Emiliano

The framework presented in this paper takes its cue from recent financial events and attempts to develop a tractable framework for policy analysis of macro-linkages, in particular a first attempt at the integration of an independent profit-maximising banking sector that lends to and borrows from...... agents in the economy, and through which changes in the monetary policy rate by the central bank are transmitted. The inter-linkages between housing and the role of the banking sector in the transmission of monetary policy is emphasized. Two competing effects are highlighted: (i) a financial accelerator...... channel, due to the presence of collateralized borrowers, and (ii) a banking attenuator effect, which crucially arises from the spread in interest rates caused by the introduction of monopolistically competitive financial intermediaries. We show how the classical amplification mechanism explored in models...

Awareness of food nutritive value and eating practices among Nigerian bank workers: Implications for nutritional counseling and education.

Science.gov (United States)

Eze, Ngozi M; Maduabum, Felicia O; Onyeke, Nkechi G; Anyaegunam, Ngozi J; Ayogu, Chinwe A; Ezeanwu, Bibian Amaka; Eseadi, Chiedu

2017-03-01

Adequate nutrition is an important aspect of a healthy lifestyle for all individuals, including bank staff. The objective of this study was to investigate the awareness of food nutritive value and eating practices among bank workers in Lagos State, Nigeria.The study adopted a cross-sectional descriptive survey design. A purposive sample of 250 bank workers took part in the study. Means and Student t tests were employed for data analysis.Results showed that bank workers were aware of the nutritive value of foods, and that eating practices commonly adopted included skipping breakfast, eating breakfast at work, buying food at work from the bank canteen, eating in between meals, buying snacks as lunch, and consuming soft drinks daily, among others. There were no significant differences between male and female bank workers in mean responses on food nutritive value or in eating practices adopted.Good eating habits will help bank workers not only to improve their nutritional well-being, but also to prevent nutrition-related diseases. The implications for nutritional counseling and education are discussed in the context of these findings.

The World Bank and climate change

International Nuclear Information System (INIS)

Shih, W.-C.

2000-01-01

The reduction of greenhouse gas emissions is inextricably linked with economic and development policies. This raises the question, to what extent do the commitments to reduce carbon dioxide emissions under the Climate Change Convention affect the practices and policies of the World Bank? After briefly describing the interaction between climate change and economic development, as well as the respective instruments of the Climate Change Treaty and the World Bank, this paper identifies several windows through which the obligations set out by the Climate Change treaty affect the World Bank. These include the Global Environmentally Facility, the Operational Policies adopted by the Executive Directors of the World Bank, specific loan structures and conditions as well as the recent Prototype Carbon Fund. (Author)

BioMagResBank (BMRB) as a partner in the Worldwide Protein Data Bank (wwPDB): new policies affecting biomolecular NMR depositions

International Nuclear Information System (INIS)

Markley, John L.; Ulrich, Eldon L.; Berman, Helen M.; Henrick, Kim; Nakamura, Haruki; Akutsu, Hideo

2008-01-01

We describe the role of the BioMagResBank (BMRB) within the Worldwide Protein Data Bank (wwPDB) and recent policies affecting the deposition of biomolecular NMR data. All PDB depositions of structures based on NMR data must now be accompanied by experimental restraints. A scheme has been devised that allows depositors to specify a representative structure and to define residues within that structure found experimentally to be largely unstructured. The BMRB now accepts coordinate sets representing three-dimensional structural models based on experimental NMR data of molecules of biological interest that fall outside the guidelines of the Protein Data Bank (i.e., the molecule is a peptide with 23 or fewer residues, a polynucleotide with 3 or fewer residues, a polysaccharide with 3 or fewer sugar residues, or a natural product), provided that the coordinates are accompanied by representation of the covalent structure of the molecule (atom connectivity), assigned NMR chemical shifts, and the structural restraints used in generating model. The BMRB now contains an archive of NMR data for metabolites and other small molecules found in biological systems

Estimating the Effective Lower Bound for the Czech National Bank's Policy Rate

OpenAIRE

Kolcunova, Dominika; Havranek, Tomas

2018-01-01

The paper focuses on the estimation of the effective lower bound for the Czech National Bank's policy rate. The effective lower bound is determined by the value below which holding and using cash would be more convenient than deposits with negative yields. This bound is approximated based on storage, the insurance and transportation costs of cash and the costs associated with the loss of the convenience of cashless payments and complemented with the estimate based on interest charges, which p...

Monetary policy and bank behavior: Empirical evidence from India

OpenAIRE

Ghosh, Saibal

2006-01-01

The paper develops an empirical model to explore the role that bank characteristics play in influencing the monetary transmission process. Employing data on Indian commercial banks for the period 1992-2004, the findings indicate that for banks classified according to size and capitalization, a monetary contraction lowers bank lending, although large and well-capitalized banks are able to shield their loan portfolio from monetary shocks.

Pre-emptive policy for systemic banking crisis

NARCIS (Netherlands)

Perotti, E.C.; Suarez, J.

2000-01-01

Systemic banking crises often result from widespread imprudent lending, driven by strong incentives for risk taking and connected lending. This paper identifies a counterbalancing incentive for in-dividual banks to act prudently in the face of widespread risk taking among its competitors. In

Determinants of Egyptian Banking Sector Profitability: Time-Series Analysis from 2004-2014

Directory of Open Access Journals (Sweden)

Heba Youssef Hashem

2016-06-01

Full Text Available Purpose - The purpose of this paper is to examine the determinants of banking sector profitability in Egypt to shed light on the most influential variables that have a significant impact on the performance of this vital sector. Design/methodology/approach - The analysis includes a time series model of quarterly data from 2004 to 2014. The model utilizes Cointegration technique to investigate the long-run relationship between the return on equity as a proxy for bank profitability and several bank-specific variables including liquidity, capital adequacy, and percentage of non-performing loans. In addition, Vector Error Correction Model (VECM is utilized to explore the short-run dynamics of the model and the speed of adjustment to reach the long-run equilibrium. Findings - The main findings of this work show that banking sector profitability is inversely related to capital adequacy, the percentage of loan provisions and the ratio of deposits to total assets. On the other hand, it is positively related to the size of the banking sector which implies that the banking sector exhibits economies of scale. Research limitations/implications - The implications of this work is that it helps reveal the major factors affecting bank performance in the short-run and long-run, and hence provide bank managers and monetary policy makers with beneficial insights on how to enhance bank performance. Since the banking sector represents one of the main engines of financing investment, enhancing the efficiency of this sector would contribute to economic growth and prosperity Originality/value - The Vector error correction model showed that about 4% of the disequilibrium is corrected each quarter to reach the long run equilibrium. In addition, all bank specific variables were found to affect profitability in the long-run only. This study would serve as a base that further work on Egyptian banking sector profitability can build on by incorporating more variables in the

Structural adjustment programmes on the African continent : the theoretical foundations of IMF/World Bank reform policies

NARCIS (Netherlands)

Meilink, H.A.

2003-01-01

Since the early 1980s the majority of countries in sub-Saharan Africa embarked on the implementation of IMF/World Bank designed 'structural adjustment programmes' (SAPs). This paper examines the theoretical underpinnings of the SAPs. It shows that IMF policies are based on a theoretical framework

Bank liquidity, interbank markets, and monetary policy

NARCIS (Netherlands)

Freixas, X.; Martin, A.; Skeie, D.

2011-01-01

A lesson of the recent financial crisis is that the interbank market is crucial for banks facing uncertainty regarding their liquidity needs. This article studies the efficiency of the interbank market in allocating funds. We show that the central bank should lower the interbank rate when confronted

Securing Financial Stability: Problems and Prospects for New EU Members, Report on the SUERF Seminar jointly organised with the Central Bank of Malta

DEFF Research Database (Denmark)

Balling, Morten

2003-01-01

topics are monetary policy transparency, preservation of investor confidence, the adequacy of the legal framework governing the financial sector, asset price volatility, size and volatility of cross-border capital flows, implications of bank privatisations, increasing market shares of foreign banks......The article gives an overview of twelve contributions to a seminar organised in March 2003 by SUERF in cooperation with the Central Bank of Malta. The contributions analyse from different perspectives the problems related to securing financial stability in the EU accession countries. Important......, integration of European supervisory systems, choice of exchange rate regime and government debt policy. Four of the contributions are country case studies in which the financial stability experiences of countries that have become members of the EMU are described. Udgivelsesdato: July...

Bank and sovereign debt risk

OpenAIRE

Darracq Paries, Matthieu; Faia, Ester; Rodriguez-Palenzuela, Diego

2013-01-01

Euro area data show a positive connection between sovereign and bank risk, which increases with banks' and sovereign long run fragility. We build a macro model with banks subject to incentive problems and liquidity risk (in the form of liquidity based banks' runs) which provides a link between endogenous bank capital and macro and policy risk. Our banks also invest in risky government bonds used as capital buffer to self-insure against liquidity risk. The model can replicate the positive conn...

Implications of e-commerce for banking and finance

OpenAIRE

Heng, Michael S.H.

2001-01-01

The aim of the paper is to show that e-commerce holds the potential to transform banking and financial systems. There are three aspects in which e-commerce can affect banking and finance. First, banks and financial firms can use the technology and business practice of e-commerce to market their products to the customers. Second, e-commerce provides a business opportunity for banks to offer new products and services to serve the needs of e-commerce. Third, the new business environment associat...

Policy implications of greenhouse warming: Mitigation, adaptation, and the science base

International Nuclear Information System (INIS)

Anon.

1992-01-01

This book discusses the policy implications of greenhouse warming by examining three major areas: general summary of information about the greenhouse effect leading to a framework for policy; the science basis for the greenhouse effect; mitigation of greenhouse warming. Each section contains 9-13 chapters on specific subjects including the following: overview of greenhouse gases; policy implications; internations considerations; climate records and models; sea levels; temperature rise estimation; energy management at several levels; nonenergy emission reduction; human populations; deforestation. Conclusions are summarized at the end of each section

Implications of e-commerce for banking and finance

NARCIS (Netherlands)

Heng, Michael S.H.

2001-01-01

The aim of the paper is to show that e-commerce holds the potential totransform banking and financial systems. There are three aspects in which e-commercecan affect banking and finance. First, banks and financial firms can use thetechnology and business practice of e-commerce to market their

Central banks: Paradise lost

OpenAIRE

Issing, Otmar

2012-01-01

The focus of the paper is to analyze how the concept behind central bank policy developed over time and how the recent financial crisis and its consequences will have an influence. While the principles of the institutional arrangement for central banks (independence, clear mandate, prohibition of monetary financing) are relevant as ever, pre- crisis consensus strategies of monetary policy have been revealed as flawed. The close monitoring of money and credit developments, a key lesson to be d...

12 CFR 614.4010 - Agricultural credit banks.

Science.gov (United States)

2010-01-01

...) of this chapter, for the export (including the cost of freight) of agricultural commodities or... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Agricultural credit banks. 614.4010 Section 614.4010 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS...

12 CFR 4.63 - Policy.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Policy. 4.63 Section 4.63 Banks and Banking...; Contracting for Goods and Services § 4.63 Policy. The OCC's policy is to ensure that MWOBs and IDOBs have the... into for goods and services, whether generated by the headquarters office in Washington, DC, or any...

The Impact of Internet Banking on Bank Performance and Risk: The Indian Experience

Directory of Open Access Journals (Sweden)

Pooja MALHOTRA

2009-11-01

Full Text Available The paper describes the current state of Internet banking in India and discusses its implications for the Indian banking industry. Particularly, it seeks to examine the impact of Internet banking on banks’ performance and risk. Using information drawn from the survey of 85 scheduled commercial bank’s websites, during the period of June 2007, the results show that nearly 57 percent of the Indian commercial banks are providing transactional Internet banking services. The univariate analysis indicates that Internet banks are larger banks and have better operating efficiency ratios and profitability as compared to non-Internet banks. Internet banks rely more heavily on core deposits for funding than non-Internet banks do. However, the multiple regression results reveal that the profitability and offering of Internet banking does not have any significant association, on the other hand, Internet banking has a significant and negative association with risk profile of the bank

BANKING BUSINESS MODELS IN UKRAINIAN BANKING SYSTEM

Directory of Open Access Journals (Sweden)

Yuliya Onyshchenko

2015-11-01

Full Text Available The purpose of the paper is to work out and characterize bank business models that are formed in Ukraine. Methodology. Our research we will spend among banks that are functioning on the Ukrainian financial market and are not on the stage of liquidation, so the sample under study in our work is comprised of 131 banks which are different in their ownership structure and size. The core of the methodology is a statistical clustering algorithm that allows identifying the groups of banks (clusters with similar business models as banks with similar business model strategies have made similar choices regarding the composition of their assets and liabilities. The cluster analyses were taken on the base of seven chosen indicators: bank loans, bank liabilities, enterprise loans, enterprise liabilities, household loans, household liabilities and trading assets. Results. The traditional business model of bank is worked out. The bank business models that are functioning in Ukraine are identified on the base of cluster analyses using balance sheet characteristics of 131 Ukrainian banks. We find that in Ukraine were formed three types of bank business models: “Focused retail”, “Diversified retail” and “Corporative retail”. The description of each model is given. Practical implications. More detailed research of distinguished models allows not only to find out the main advantages and disadvantages of each bank model, but also the main problems that follow the development of Ukrainian banking sector. Identifying of bank models and their studying simplifies searching and elaboration of regulatory instruments as there is a two-way causation between regulation and bank business models. This implies a symbiotic relationship between regulation and bank business models: business models respond to regulation which in turn responds to the evolution of new business models. Value/originality. Such survey is conducted at the first time among Ukrainian banks. The

The macroeconomics of banking

NARCIS (Netherlands)

van der Kwaak, C.G.F.

2017-01-01

This thesis studies the macroeconomic effectiveness of monetary and fiscal policy in an environment where commercial banks are undercapitalized after a financial crisis and have large holdings of (risky) government bonds on their balance sheets. An undercapitalized banking system cannot perfectly

World Bank agricultural policies, poverty and income inequality in Sub-Saharan Africa 1

OpenAIRE

Howard Stein

2010-01-01

The original logic underlying the World Bank's structural adjustment policies in Africa was that the removal of state-created distortions would not only improve efficiency in the operation of markets but also enhance income equality and reduce poverty. The paper explores the linkage between adjustment and the deteriorating income distribution and rising poverty in sub-Saharan Africa with a focus on the rural sector where most of the population earns its livelihoods. The pattern observed is a ...

Modeling of the interest rate policy of the central bank of Russia

Science.gov (United States)

Shelomentsev, A. G.; Berg, D. B.; Detkov, A. A.; Rylova, A. P.

2017-11-01

This paper investigates interactions among money supply, exchange rates, inflation, and nominal interest rates, which are regulating parameters of the Central bank policy. The study is based on the data received from Russian source in 2002-2016. The major findings are 1) the interest rate demonstrates almost no relation with inflation; 2) ties of money supply and the nominal interest rate are strong; 3) money supply and inflation show meaningful relations only in comparison to their growth rates. We have developed a dynamic model, which can be used in forecasting of macroeconomic processes.

Does central bank communication really lead to better forecasts of policy decisions? New evidence based on a Taylor rule model for the ECB

NARCIS (Netherlands)

Sturm, Jan-Egbert; De Haan, Jakob

Nowadays, it is widely believed that greater disclosure and clarity over policy may lead to greater predictability of central bank actions. We examine whether communication by the European Central Bank (ECB) adds information compared to the information provided by a Taylor rule model in which

Water Banks: Using Managed Aquifer Recharge to Meet Water Policy Objectives

Directory of Open Access Journals (Sweden)

Sharon B. Megdal

2014-05-01

. This paper describes water banking in Arizona from a policy perspective and identifies reasons for its implementation. It goes on to explore conditions under which water banking could successfully be applied to other parts of the world, specifically including Australia.

CENTRAL BANK TRANSPARENCY AND EVALUATION OF MONETARY POLICY COMMUNACATIONS

Directory of Open Access Journals (Sweden)

V. Romanchukevych

2018-01-01

Full Text Available The article reveals approaches to evaluate transparency of the central banks and, operating indices, measures it for the National bank of Ukraine. The quantitative analysis of the informational disclosure of the central banks of Ukraine, Czech Republic, Poland, and Russia is allocated. The aspects of the communications of the National Bank of Ukraine in the process of the monetary regime transformation are explored.

12 CFR 345.26 - Small bank performance standards.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Small bank performance standards. 345.26... GENERAL POLICY COMMUNITY REINVESTMENT Standards for Assessing Performance § 345.26 Small bank performance standards. (a) Performance criteria—(1) Small banks that are not intermediate small banks. The FDIC...

Transparency of Banking Supervisors

NARCIS (Netherlands)

Liedorp, Franka; Mosch, Robert; van der Cruijsen, Carin; de Haan, Jakob

Following Eijffinger and Geraats (2006), this paper constructs an index of transparency of banking supervisors that takes political, economic, procedural, policy, and operational transparency into account. Based on a survey, the index is constructed for 24 banking supervisors. The average score is

Global Banking System Regulatory Environment

Directory of Open Access Journals (Sweden)

Oleh Mozhovyi

2017-03-01

Full Text Available The international and domestic experience shows that the main factors of financial destabilization during the financial crises are in the banking sector. The article reveals that the vulnerability of the financial system is connected with functions, deposit and credit transactions, risks distribution and ensuring liquidity; banks act as a major factor in stabilisation measures in the current context of globalization processes, since the economic stability of banking activities relates directly to all the entities and only stable banking system can withstand the crisis phenomena. Therefore, as a result of the analysis, it is proved that not only reduction of risks of banks is needed, but also introduction of the effective supervision system over implementation of the requirements and standards to prevent these risks. According to modern international approaches, banks use the so-called prudential supervision, which is based on the risk management assessment policy on the part of the Bank’s management, and regulatory bodies contribute to implementation of such policy. The authors have concluded that not only modern specificity of banks, but also the impact of supervision systems and regulation of modern trends in development of the banking should be analysed. Application of the general regulatory principles and banking risks methodology is required. The task of supervision is distribution of reliable risk management practices in the banking system, taking into account national peculiarities of development.

Making Central Banks Serve The Real Economy

Directory of Open Access Journals (Sweden)

Suleika Reiners

2013-10-01

Full Text Available The challenge is to redirect central bank money into the real economy and to the needs of society. If new money is issued to expand the productive capacity, there is no reason for inflation. Long-term financing could become available at an affordable price. Central bank money must not replace a sound tax system and the distribution of income and wealth, but complement them. The remaining task, apart from the financing of real needs, is the prevention of speculative asset price inflation. For this, central banks and regulators should install debt brakes for the financial sector. Furthermore, independent monetary policy calls for capital account management. It enables national central banks to find space for the conduct of their own policies in an interdependent global economy. Coordination between central banks and governments might increase as policies combine monetary, fiscal and regulatory facets. The future role of central banks should particularly lie in their insights regarding capital flows and leverage cycles and in their ability to create and withdraw money, depend­ing on economic conditions.

The European Central Bank and the Eurosystem

OpenAIRE

Carol C. Bertaut

2002-01-01

The Eurosystem comprises the European Central Bank at its center as well as the national central banks of the twelve countries currently participating in monetary union. The European Central Bank was established in July 1998, six months before the beginning of Stage Three of economic and monetary union. Although decisions regarding monetary policy are made centrally by the Governing Council of the Eurosystem, the operational aspects of monetary policy-including open market operations, adminis...

12 CFR 614.4540 - Other financing institution access to Farm Credit Banks and agricultural credit banks for funding...

Science.gov (United States)

2010-01-01

... maintain established or projected capital levels; or (ii) Raise funds in the money markets; or (2... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Other financing institution access to Farm... POLICIES AND OPERATIONS Farm Credit Bank and Agricultural Credit Bank Financing of Other Financing...

Transnational Education: Current Developments and Policy Implications

Science.gov (United States)

Gu, Jianxin

2009-01-01

Ever since the transnational education trend took off since the 1980s, transnational education has come to bearing political, economic and cultural implications. Different approaches have been formulated to achieve specific policy objectives by both importing and exporting countries. Such approaches demonstrate a four dimensional composition,…

Actual versus perceived central bank transparency: the case of the European Central Bank

NARCIS (Netherlands)

van der Cruijsen, C.; Eijffinger, S.

2008-01-01

Central banks have become more and more transparent about their monetary policy making process. In the central bank transparency literature the distinction between actual and perceived transparency is often lacking. However, as perceptions are crucial for the actions of economic agents this

Policy Implications Analysis: A Methodological Advancement for Policy Research and Evaluation.

Science.gov (United States)

Madey, Doren L.; Stenner, A. Jackson

Policy Implications Analysis (PIA) is a tool designed to maximize the likelihood that an evaluation report will have an impact on decision-making. PIA was designed to help people planning and conducting evaluations tailor their information so that it has optimal potential for being used and acted upon. This paper describes the development and…

Dependence on carbonated water: Clinical and policy implications

Directory of Open Access Journals (Sweden)

Sumit Kumar Gupta

2015-01-01

Full Text Available A case of caffeine dependence syndrome with preference for a specific brand of carbonated water (popularly known as soft drinks or colas is discussed to highlight the clinical and policy implications.

Monetary Policy in Small Open Economies: The Role of Exchange Rate Rules

OpenAIRE

Santacreu, Ana Maria

2015-01-01

Understanding the costs and benefits of alternative monetary policy rules is important for economic welfare. Within the context of a small open economy model and building on the work of Mihov and Santacreu (2013), the author analyzes the economic implications of two monetary policy rules. The first is a rule in which the central bank uses the nominal exchange rate as its policy instrument and adjusts the rate whenever there are changes in the economic environment. The second is a standard int...

7 CFR 1610.5 - Minimum Bank loan.

Science.gov (United States)

2010-01-01

... 7 Agriculture 11 2010-01-01 2010-01-01 false Minimum Bank loan. 1610.5 Section 1610.5 Agriculture Regulations of the Department of Agriculture (Continued) RURAL TELEPHONE BANK, DEPARTMENT OF AGRICULTURE LOAN POLICIES § 1610.5 Minimum Bank loan. A Bank loan will not be made unless the applicant qualifies for a Bank...

12 CFR 615.5335 - Bank net collateral ratio.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Bank net collateral ratio. 615.5335 Section 615.5335 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Surplus and Collateral Requirements § 615.5335 Bank net...

Sharing China's Bank Restructuring Bill

Institute of Scientific and Technical Information of China (English)

Guonan Ma

2006-01-01

This paper addresses the questions related to the cost of China's bank restructuring and how it has been financed. We first propose a framework for recognizing losses. Then, we examine the recent major moves by the Chinese Government to repair the country's bank balance sheets. Finally, we explore the implications of the Chinese Government's methods of funding bank restructuring. We find that the Chinese Government has been decisive in confronting the costly task of bank restructuring. So far, Chinese taxpayers have paid most of the bill for bank restructuring.

CENTRAL BANK INDEPENDENCE AND INFLATION TARGETING - THE BRITISH EXPERIENCE

Directory of Open Access Journals (Sweden)

David Delia

2010-07-01

Full Text Available Known as the ‘Old Lady’ of Threadneedle Street, the Bank of England is the central bank of the United Kingdom. Founded in 1694, the Bank of England is standing at the centre of the United Kingdom’s financial system, and is committed to promoting and maintaining monetary and financial stability as its contribution to a healthy economy. In our opinion, it is very important to analyze the Bank of England’s monetary policy strategy, starting from 1992 – adoption of the inflation target and the evolution of it’s monetary policy strategy, through an important feature – delegating operational accountability regarding the monetary policy in 1997 as well as the appropriate institutional framework. More over, it is important to analyze the Bank of England’s performances before and after granting central bank independence.

Reserve requirements and the bank lending channel in China

OpenAIRE

Fungácová , Zuzana; Nuutilainen , Riikka; Weill , Laurent

2015-01-01

This paper examines how reserve requirements influence the transmission of monetary policy through the bank lending channel in China while also taking into account the role of bank ownership. The implementation of Chinese monetary policy is characterized by the reliance on the reserve requirements as a regular policy tool with frequent adjustments. Using a large dataset of 170 Chinese banks for the period 2004–2013, we analyze the reaction of loan supply to changes in reserve requirements. We...

E-BANKING: A CASE STUDY OF ASKARI COMMERCIAL BANK PAKISTAN

Directory of Open Access Journals (Sweden)

Muhammad Shakil AHMAD

2011-01-01

Full Text Available This paper has covered the operational issues related to e-banking as well as customer’s perception on usage of e-banking a case study of Askari Bank, Pakistan. 40 staff members and four customers are selected as sample for this study. Both qualitative and quantitative methods are used to present the results. Descriptive statistics is applied to describe the demographic variables while for operational problems correlation was used. Finally cross case analysis present customers’ perception about e-banking practices. Analysis shows that customer is not ready to adopt new technology that why their satisfaction level with e-banking is low. Internet speed and government policies are not supportive for e-banking in Pakistan. Due to lack of trust on technology and low computer literacy rate, customer hesitates to adopt new technology. : In order to promote IT culture in Pakistan, government has to reduce the internet rate. to promote the benefits of e-banking on media so that more user get facilitated from e-banking services.

Banks and Banking Business in Russia in the Face of International Sanctions

Directory of Open Access Journals (Sweden)

Galina S. Panova

2016-01-01

Full Text Available The article provides an analysis of the present condition and prospects of development of banks and the banking business in the face of international sanctions. It identifies current trends, problems and the risks of banks and banking in Russia and in the world. Special attention is paid to the analysis of sectoral international sanctions against the Russian banks and the need to minimize negative impact of sanctions on the banking business, both nationally and internationally. Great value in these conditions has the state monetary policy. Anti-crisis policy pursued by the Bank of Russia, in a context of stagnating economy, leads to a reduction in the Russian share in the world economy and increases in the standard of living gap with the developed countries. The article argues that Russia's economic growth opportunities in 2016 are limited by restriction level of bank interest, the high volatility of the exchange rate of the national currency, insufficient development of credit relations, tough, high-budget (at the level of developed Europe tax burden, increasing administrative costs, dramatically increasing the concentration of risks of subjective decisions at the present stage of the electoral cycle. In a situation of uncertainty of predictions regarding the scope and duration of the application of sanctions, the Russian Government and the Central Bank of the Russian Federation had rightly seek to use a combination of anti-sanctions measures of austerity measures on introduction of contra-sanctions to create more comfortable conditions for doing business in Russia and her allies from member countries of Eurasian Economic Union, SCO, BRICS. The article examines the strategic aspects of development banks and banking business in Russia under the new circumstances. Given the practical recommendations on improvement of the development strategy of banks in Russia. The necessity to improve the theoretical, conceptual, methodological, her reasoning

12 CFR 412.5 - Policy.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Policy. 412.5 Section 412.5 Banks and Banking EXPORT-IMPORT BANK OF THE UNITED STATES ACCEPTANCE OF PAYMENT FROM A NON-FEDERAL SOURCE FOR TRAVEL EXPENSES § 412.5 Policy. As provided in this part, Eximbank may accept payment from a non-Federal source...

Correlation and regression analysis of tools influencing on targets of monetary policy of Central Bank of the Russian Federation

Directory of Open Access Journals (Sweden)

Gordyachkova O. V.

2016-07-01

Full Text Available the article presents the correlation and regression analysis of the influence of the Central Bank tools of Russian monetary policy on its aims. Such analysis is the basic method of estimating monetary policy efficiency by means of quantity-related parameters. The results outlined by the authors prove the lack of efficiency of influencing tools: inflation, money supply and the exchange rate.

Article Review on World Bank Report, Optimal Design for a Minimum Wage Policy in Malaysia

OpenAIRE

Nurrachmi, Rininta; Mad-Ahin, Ashanee; Waeowanjit, Phimpaporn; Kareemarif Arif, Naz Abdul

2012-01-01

There are many pros and cons with the implementation of minimum wage in Malaysia, since it is the first time. This article review is to analyze the World Bank report on Malaysian minimum wage policy that will be implemented in 2013. There are strength and weakness on the report. Moreover the review will also be analyzed from Islamic perspective since majority population in Malaysia is Muslim.

Cord Blood Banking for Potential Future Transplantation.

Science.gov (United States)

Shearer, William T; Lubin, Bertram H; Cairo, Mitchell S; Notarangelo, Luigi D

2017-11-01

This policy statement is intended to provide information to guide pediatricians, obstetricians, and other medical specialists and health care providers in responding to parents' questions about cord blood donation and banking as well as the types (public versus private) and quality of cord blood banks. Cord blood is an excellent source of stem cells for hematopoietic stem cell transplantation in children with some fatal diseases. Cord blood transplantation offers another method of definitive therapy for infants, children, and adults with certain hematologic malignancies, hemoglobinopathies, severe forms of T-lymphocyte and other immunodeficiencies, and metabolic diseases. The development of universal screening for severe immunodeficiency assay in a growing number of states is likely to increase the number of cord blood transplants. Both public and private cord blood banks worldwide hold hundreds of thousands of cord blood units designated for the treatment of fatal or debilitating illnesses. The procurement, characterization, and cryopreservation of cord blood is free for families who choose public banking. However, the family cost for private banking is significant and not covered by insurance, and the unit may never be used. Quality-assessment reviews by several national and international accrediting bodies show private cord blood banks to be underused for treatment, less regulated for quality control, and more expensive for the family than public cord blood banks. There is an unquestionable need to study the use of cord blood banking to make new and important alternative means of reconstituting the hematopoietic blood system in patients with malignancies and blood disorders and possibly regenerating tissue systems in the future. Recommendations regarding appropriate ethical and operational standards (including informed consent policies, financial disclosures, and conflict-of-interest policies) are provided for physicians, institutions, and organizations that

12 CFR 614.4354 - Federal land bank associations.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Federal land bank associations. 614.4354 Section 614.4354 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND... association may assume endorsement liability on any loan if the total amount of the association's endorsement...

Bank Ownership, Board Characteristics and Performance: Evidence from Commercial Banks in India

Directory of Open Access Journals (Sweden)

Jayati Sarkar

2018-02-01

Full Text Available We study the effect of board governance in state-owned and private banks by undertaking a study of commercial banks in India that has both bank groups. Covering a ten-year period from 2003 to 2012 that witnessed a large number of governance reforms in India, the results of our empirical analysis provide evidence of strong ownership effects with board independence exhibiting a significant positive correlation with the performance of private banks and a significant but negative correlation with the performance of state-owned banks. The effect of CEO duality is negative in state-owned banks where incidence of CEO duality is high. We find that a longer CEO tenure has significant positive effects on bank outcomes with these effects strengthening in the later years of CEO tenure. Our results have governance implications for strengthening the composition of board of directors and CEO tenure especially in state-owned banks.

12 CFR 337.11 - Effect on other banking practices.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Effect on other banking practices. 337.11 Section 337.11 Banks and Banking FEDERAL DEPOSIT INSURANCE CORPORATION REGULATIONS AND STATEMENTS OF GENERAL POLICY UNSAFE AND UNSOUND BANKING PRACTICES § 337.11 Effect on other banking practices. Nothing in...

12 CFR 618.8015 - Policy guidelines.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Policy guidelines. 618.8015 Section 618.8015 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM GENERAL PROVISIONS Related Services § 618.8015 Policy guidelines. (a) The board of directors of each System bank or association providing...

A note on banking reform and poverty : Revisiting the Indian social banking experiment

NARCIS (Netherlands)

Platschorre, B.; Bulte, E.H.

2011-01-01

Recent empirical work demonstrates that state-led bank expansion in rural India has contributed to a reduction in the number of poor people. In this note it is shown that the social banking policies have not simultaneously decreased the rural poverty gap. This suggests a potential trade-off for

A Note on Banking Reform and Poverty: Revisiting the Indian Social Banking Experiment

NARCIS (Netherlands)

Platschorre, B.; Bulte, E.H.

2011-01-01

Recent empirical work demonstrates that state-led bank expansion in rural India has contributed to a reduction in the number of poor people. In this note it is shown that the social banking policies have not simultaneously decreased the rural poverty gap.This suggests a potential trade-off for

Promotional activities of banks in Serbia

Directory of Open Access Journals (Sweden)

Zelenović Vera

2008-01-01

Full Text Available The paper is focused on banking sector in Serbia, particulary on promotional activities of banks in public and on media. The authors of paper tried to find cause and effect relationship between business success and working quality on the one hand and investment in promotion activities of bank on the other hand, like important instrument of bank's business policy realization. Promotional activities appear like successful instrument in order to increase satisfaction of the bank's clients, which effect the increase of successfulness of banks' business.

Unclogging the Credit Channel: on the Macroeconomics of Banking Frictions

NARCIS (Netherlands)

Jakucionyte, E.; van Wijnbergen, S.

2018-01-01

We explore the consequences of different financial frictions on the corporate and banking level for macroeconomic policy responsiveness to major policy measures. We show that both corporate and bank debt overhang greatly reduce the effectiveness of fiscal policy: multipliers turn negative with debt

THE BANKING SUPERVISION: CAN IT REDUCE THE RISK-TAKING AND, CONSEQUENTLY, STRENGTHEN THE STABILITY OF THE BANKING SECTOR IN MOLDOVA?

Directory of Open Access Journals (Sweden)

Elena MARGARINT

2015-12-01

Full Text Available Actuality: The empirical studies on the impact of the supervision on the stability of the banking sector are mitigated, varying depending on the particular characteristics of the bank and, in addition, the country's policy in which banks operate. This is why this study is important for the banking sector in Moldova. Purpose: The objective of this article is to studies the effects of the banking supervision on the risk-taking of banks and, consequently, the stability of the banking sector in Moldova. Methods: To order to achieve its purpose, the author applied the method of static panel data with random effect. Results: This empirical analysis reported the following results: increased restrictions on the activities of banks increases the stability of the banking sector. On the other hand, the power and independence of the supervisory authority have a negative impact on the stability of Moldovan banks. The increase of the capital level strengthens the stability of Moldovan banks and, at the same time, reduces the risk. Thus, capital regulations are an important pillar of the policy of the regulation of the banking sector of Moldova.

12 CFR 517.3 - Policy.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Policy. 517.3 Section 517.3 Banks and Banking... is the policy of the OTS that minorities, women and individuals with disabilities and entities owned by minorities, women and individuals with disabilities are given the opportunity to participate to...

Cost effectiveness of GHG mitigation options and policy implication

Energy Technology Data Exchange (ETDEWEB)

Lim, K. S. [Korea Institute for Industrial Economics and Trade, Seoul (Korea, Republic of)

1998-04-01

This paper represents the summary findings and conclusions of several studies implemented about microeconomics and macroeconomics marginal costs of GHG abatement policies. Financial, economic, and, where possible, environmental microeconomics costs of reducing GHGs are estimated by a World Bank team. Six energy-related CO{sub 2} mitigation policy options are applied to estimate the macroeconomics costs of GHG emission reduction, the macroeconomics impacts on the Chinese economy. In terms of policy, conservation is a better option to cope with a restrictive mitigation constraint, assuming a developing country can achieve planned energy-saving targets. Without a CO{sub 2} emission constraint or with less restrictive CO{sub 2} emission constraints, however, the simulation results indicate that a conservation strategy may be less attractive than fuel substitution in a developing country, mainly due to the economic dampening effect of reduced production in the energy sectors. This finding suggests that an often-cited costless or negative-cost energy conservation policy may not be a better option when a less restrictive mitigation target is in force. This does not mean that the potential for energy efficiency improvements in a developing country is not worthwhile, but that the overall macroeconomics impacts should be considered before implementing the policy option. (author). 9 refs., 3 figs., 3 tabs.

Foreign bank entry, bank efficiency and market power in Central and Eastern European Countries

NARCIS (Netherlands)

Poghosyan, Tigran; Poghosyan, Arsen

2010-01-01

This article analyses the implications of the recently observed sharp expansion of foreign banks in the Central and Eastern European Countries (CEECs) as measured by equity ownership. We show that the mode of foreign entry has a pivotal impact on the post-entry performance of banks in CEECs. Foreign

Monitoring centrálních bank - březen 2013

OpenAIRE

Česká národní banka

2013-01-01

Latest monetary policy developments at selected central banks and news. Spotlight: „Monetary policy in Japan“. Selected speech: „Guidance“ by Mark Carney (the Governor of the Bank of Canada, who will be replacing Mervyn King as head of the Bank of England).

IMPLICATIONS OF CREDIT RISK TRANSFER ON BANK PERFORMANCES

Directory of Open Access Journals (Sweden)

Victoria COCIUG

2015-07-01

Full Text Available The impact of the financial crisis has demonstrated the fragility of the banking sector and the need to implement new technologies that would allow not only insurance against the most important credit risk - credit risk, but development of lending segment. In such conditions, transfer of credit risk is an efficient and actual way to diversify the banks exposure for credit risk by the presence of those who are willing to take on some of this risk. Taking of credit risk can be achieved through credit derivatives, securitization and sale of loans, being selected the most advantageous technique for the bank. The current situation of the national banking sector requires solving the problem of bad loans, which, unfortunately, are increasing, by implementing new techniques for credit risk management according with EU directives.

12 CFR 614.4470 - Loans subject to bank approval.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Loans subject to bank approval. 614.4470 Section 614.4470 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Loan Approval Requirements § 614.4470 Loans subject to bank approval. (a) The following loans...

The Epidemiological Transition: Policy and Planning Implications for ...

African Journals Online (AJOL)

Relevant literatures were reviewed from medical journals, library search and internet source using Google search engine as well as international, national and local journals. The key words employed were: Epidemiological Transition with particular emphasis on policy and planning implications in developing countries.

REFORMING THE EUROPEAN FINANCIAL AND BANKING ARCHITECTURE IN THE CRISIS CONTEXT. THE BANKING UNION CONCEPT

Directory of Open Access Journals (Sweden)

Magdalena, RADULESCU

2014-11-01

Full Text Available Deep financial crisis which started in 2007 proved to be extremely contagious affecting the financial and banking EU system. Achieving an integrated banking market is the main component of the European policy in the financial-banking services area. The latest developments underlined that the difficulties faced by the banks can negatively impact on the entire financial stability of the member states. That's why, the European Central Bank will be entitled to supervise any bank of the euro area, especially the ones that benefit of public support. Reforming the financial and banking system must be shaped in the frame of insuring some durable national finances, of an urgent recapitalizing of the banks that need that and of elaborating some common fiscal and financial and banking regulations effective in the eurozone.

The Effects of Foreign Bank Participation on the Turkish Banking System and Crisis

Directory of Open Access Journals (Sweden)

Suleyman Degirmen

2015-08-01

Full Text Available There is an assertion that the participation of foreign banks in emerging markets is often thought to improve overall bank soundness. Therefore, if the share of foreign banks in a national banking system is large, the system will quickly overcome both financial or currency crises, and quickly recover itself. Since Turkey has been experienced mentioned crises, the aim of this study is to reveal if the assertion is valid for Turkey. Our expectation from the study using VAR method is to reach a conclusion that countries with large market share of foreign banks have safely passed the crises by virtue of foreign banks’ best management policies. The test results indicate that foreign banks have more positive effect for helping TBS capital structure; foreign bank participation did not cause any decline in loans and last one, after crisis, existence of foreign banks worsens TBS’ liquidity in interest and exchange rate shocks.

Characteristics of bank financial intermediation in Croatian counties

Directory of Open Access Journals (Sweden)

Jakša Krišto

2015-03-01

Full Text Available Research on bank financial intermediation in a country’s narrower territorial units is scarce, in both domestic and international literature. Banks are almost the only financial intermediaries in narrower territorial units and their role is substantial, ranging from participating in regional development to the successful running of their own business. Hence, the main objective of this paper is to examine the characteristics of the financial intermediation of banks in the counties of the Republic of Croatia, both through a comparison between their economic development levels and the general presence of financial intermediation, and a more specific analysis of their deposit and credit policies. The article uses hierarchical and non-hierarchical (k-means cluster analyses to identify relatively homogeneous groups of counties based on sets of indicators of: economic environment, financial development and infrastructure and, at a more detailed level, the deposit and credit policies of banks. The research results suggest heterogeneity and diversity of bank policies across the counties and sets of indicators. Differences have been observed between developed and developing counties, as well as in approaches to banks’ deposit and credit policies. The paper’s findings encourage further research into these issues.

78 FR 22260 - Sub-Saharan Africa Advisory Committee of the Export-Import Bank of the United States (Ex-Im Bank...

Science.gov (United States)

2013-04-15

... developments in Sub-Saharan Africa markets by Ex-Im Bank staff; an update on the Bank's on-going business... development and implementation of policies and programs designed to support the expansion of the Bank's financial commitments in Sub- Saharan Africa under the loan, guarantee, and insurance programs of the Bank...

A new paradigm of modern central banking

Directory of Open Access Journals (Sweden)

Aleksandra Szunke

2013-05-01

Full Text Available The changes in the modern monetary policy, which took place at the beginning of the twenty-first century, in response to the global financial crisis led to the transformation of the place and the role of central banks. The strategic aim of the central monetary institutions has become preventing financial instability. So far, central banks have defined financial stability as a public good, which took care independently of other monetary purposes (Pyka, 2010. Unconventional monetary policy resulted in changes the global central banking. The aim of the study is to identify a new paradigm of the role and place of the central bank in the financial system and its new responsibilities, aimed at countering financial instability.

The effect of corporate social responsibility disclosures on financial performance in the banking industry: empirical study on Egyptian banking sector

Directory of Open Access Journals (Sweden)

Racha El Moslemany

2017-03-01

Full Text Available The aim of this paper to establish the relationship between corporate social responsibility disclosure and financial performance in the Egyptian banking sector. Only three banks were included in the study because Corporate Social Responsibility is a new concept that has not yet been fully established in the banking sector in Egypt. Secondary data were obtained from the annual financial reports of the banks for the period from 2008 to 2011. Corporate social responsibility score was obtained using content analysis of reports of the companies on various components of corporate social responsibility as reported in their annual financial reports. The present study identified four dimensions in the pilot study: Environment, Community, Customer, and Employee. Descriptive analysis was used to describe data collected such as Pearson correlation method. The authors used regression analysis to study the relationship between the dependent variables and the independent variables and the bank age and bank size were used as control variables in the analysis. The results indicated an insignificant relationship between the independent variables (corporate social responsibility toward environment, community, customer, and employee used in the model and the dependent variables Corporate Financial Performance as measured by (ROA, ROE, NPM, and EPS. The results of the study proved the absence of a significant relationship between the dependent and the independent variables as a whole. Yet, some relationships were found concerning individual measures. The major limitation of this paper is the sample size. In addition, failure of corporations to disclose CSR in the annual reports will have a material effect on these findings. The findings of this paper have practical implications on the management of Banks in Egypt to re-think and re-strategize their CSR policies that incorporate social and economic performance to improve their CFP.

Policy and organizational implications of gender imbalance in the NHS.

Science.gov (United States)

Miller, Karen

2007-01-01

The purpose of the paper is to examine the policy and organizational implications of gender imbalance in management, which research suggests exists in the NHS. The research in this paper involved a qualitative approach with an analysis of elite interviews conducted with a non-random sample of officials involved in health policy and interviews with a random sample of senior managers in NHS Scotland. The research formed part of a larger study, which explored the enablers and inhibitors to female career progression in various Scottish sectors. The paper finds that gender imbalance in management exists in the NHS. This is manifested in a masculine organizational context, leadership and policy decision-making process, which have implications for female career advancement opportunities and subsequently access to macro policy decisions. The paper involved a sample (30 percent) of senior managers and examined policy processes in NHS Scotland. To improve the external validity of the findings further research should be conducted in NHS organizations in England and Wales. The findings in the paper suggest that gender imbalance in management and a masculine organizational context and leadership style within the NHS create a less than conducive environment for female employees. This has practical implications in terms of levels of part-time employment, career progression and attrition rates. The paper adds to the debate of gender and organizational studies by examining the health sector, which has high levels of female employment but low levels of female representation at senior management levels. The paper therefore adds to an often-neglected area of study, women in leadership and senior managerial positions. The paper is original in its approach by examining the micro and meso organizational dimensions which impact on women's ability to influence macro health policy.

Can taxes tame the banks?

DEFF Research Database (Denmark)

Devereux, Michael P.; Johannesen, Niels; Vella, John

In the wake of the financial crisis, a number of countries have introduced levies on bank borrowing with the aim of reducing risk in the financial sector. This paper studies the behavioral responses to the bank levies and evaluates the policy. We find that the levies induced banks to borrow less...... but also to hold more risky assets. The reduction in funding risk clearly dominates for banks with high capital ratios but is exactly offset by the increase in portfolio risk for banks with low capital ratios. This suggests that while the levies have reduced the total risk of relatively safe banks......, they have done nothing to curb the risk of relatively risky banks, which presumably pose the greatest threat to financial stability...

Macroprudential Policy: A Summary

OpenAIRE

Mahdi Ebrahimi Kahou; Alfred Lehar

2016-01-01

The 2007 global financial crisis brought sharply into focus the need for macroprudential policy as a means of controlling systemic financial stability. This has become a focal point for policy-makers and numerous central banks, including the Bank of Canada, but it has its drawbacks, particularly here in Canada. As a counterbalance to microprudential policy, the idea of a macroprudential outlook reaches beyond the notion that as long as every banking institution is healthy, financial stability...

Ownership concentration and bank profitability

Directory of Open Access Journals (Sweden)

Peterson Kitakogelu Ozili

2017-12-01

Full Text Available We investigate whether ownership concentration influences bank profitability in a developing country context. We focus on bank ownership concentration measured as the amount of direct equity held by a majority shareholder categorised into: high ownership concentration, moderate ownership concentration and disperse ownership. We find that banks with high ownership concentration have higher return on assets, higher net interest margin and higher recurring earning power while banks with dispersed ownership have lower return on assets but have higher return on equity. Also, higher cost efficiency improves the return on assets of widely-held banks and the return on equity of banks with moderate ownership. The findings have implications. JEL: Code: G3, G34, G31, Keywords: Corporate governance, Ownership structure, Agency theory, Profitability, Firm performance, Banks, Return on asset, Return on equity

12 CFR 614.4020 - Banks for cooperatives.

Science.gov (United States)

2010-01-01

....3200(c) of this chapter, for the export (including the cost of freight) of agricultural commodities or....4020 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS... to a transaction with a voting stockholder of the bank, for the import of agricultural commodities...

Income inequality: Implications and relevant economic policies

Directory of Open Access Journals (Sweden)

Arestis Philip

2016-01-01

Full Text Available The aim of this contribution is to discuss closely the implications of income inequality and the economic policies to tackle it, especially so in view of inequality being one of the main causes of the 2007/2008 international financial crisis and the “great recession” that subsequently emerged. Wealth inequality is also important in this respect, but the focus is on income inequality. Ever since the financial crisis and the subsequent “great recession”, inequality of income, and wealth, has increased and the demand for economic policy initiatives to produce a more equal distribution of income and wealth has become more urgent. Such reduction would help to increase the level of economic activity as has been demonstrated again more recently. A number of economic policy initiatives for this purpose will be the focus of this contribution.

Banking on the equator. Are banks that adopted the equator principles different from non-adopters?

NARCIS (Netherlands)

Scholtens, B.; Dam, L.

We analyze the performance of banks that adopted the Equator Principles. The Equator Principles are designed to assure sustainable development in project finance. The social, ethical, and environmental policies of the adopters differ significantly from those of banks that did not adopt the Equator

Banking beyond banks and money a guide to banking services in the twenty-first century

CERN Document Server

Aste, Tomaso; Pelizzon, Loriana; Perony, Nicolas

2016-01-01

Do you know how banking and money will look like in the new digital age? This book collects the voices of leading scholars, entrepreneurs, policy makers and consultants who, through their expertise and keen analytical skills, are best positioned to picture from various angles the ongoing technological revolution in banking and finance. You will learn how lending and borrowing can exist without banks; how new forms of money can compete to better serve different society needs; how new technologies are banking the unbanked communities in the poorest parts of the world, and how ideas and small projects can be financed by the crowds without the need to rely upon banks. You will learn how, in the new digital age, we will interact with new self-organised and autonomous companies that operate without any human involvement, based on a set of programmed and incorruptible rules. You will learn that new business models will emerge thanks to technology-enabled platforms, upon which one can build new forms of non-hierarchi...

Financial Crisis and the Central Bank System

Directory of Open Access Journals (Sweden)

RICHARD POSPISIL

2015-05-01

Full Text Available The financial crisis that began in 2008 gradually developed into a global economic crisis and continues to this day. There is a lot of causes standing behind the creation, depth and process of the crisis, which is the deepest since the thirties of last centrury. One of the reasons can be found in the risky behavior of commercial banks, especially in the excessive lending of credits and mortgages. Its share on the financial crisis have central banks and their failure as the financial supervisory authority. But there is a lot of another causes of failures in the commercial banking system. And some of the causes lies outside the banking system and monetary policy. Its share of the blame has also become from state and its expenditure on the social policy.This article analyzes the role of the commercial banking system and the central banks on the financial crisis including prevention options and measures.

FINANCIAL CRISIS AND THE CENTRAL BANK SYSTEM

Directory of Open Access Journals (Sweden)

Richard POSPISIL

2015-07-01

Full Text Available The financial crisis that began in 2008 gradually developed into a global economic crisis and continues to this day. There is a lot of causes standing behind the creation, depth and process of the crisis, which is the deepest since the thirties of last centrury. One of the reasons can be found in the risky behavior of commercial banks, especially in the excessive lending of credits and mortgages. Its share on the financial crisis have central banks and their failure as the financial supervisory authority. But there is a lot of another causes of failures in the commercial banking system. And some of the causes lies outside the banking system and monetary policy. Its share of the blame has also become from state and its expenditure on the social policy.This article analyzes the role of the commercial banking system and the central banks on the financial crisis including prevention options and measures.

Analisis Perbandingan Kinerja Keuangan Bank Swasta Nasional Dan Bank Pemerintah Yang Terdaftar Di Bursa Efek Indonesia (Bei

Directory of Open Access Journals (Sweden)

Sri Hastuti

2011-10-01

Full Text Available Performance or performance of bank is the image of reached achievement in banking operational in all aspect, covering monetary management of bank and ability of bank’s assets had to yield profit efficiently, so bank can stay and compete in the middle of inflation distortion and policy of Bank Indonesia, hence the bank had to have up to standard performance or performance - condition health of bank determined by Bank Indonesia. This research aim to analyse and prove the difference flattens which isn't it in monetary performance Private National Bank and State Bank pursuant to ratioes of CAMEL. Sampel the used to amount to 12 banks, consist of 9 Private National Bank and 3 taken State Bank pursuant to Purposive Sampling with criterion enlist in Indonesia Stock Exchange (BEI, routine deliver financial statement, period of year 2005-2007.

Regulating and Combating Underground Banking

NARCIS (Netherlands)

Borgers, M.J.

2009-01-01

In combating and regulating underground banking, a choice can be made of roughly two models, the risk model and the assimilation model. The risk model comes down to a complete prohibition of underground banking combined with an active investigation and prosecution policy. In the assimilation model,

12 CFR 614.4100 - Policies governing lending through Federal land bank associations.

Science.gov (United States)

2010-01-01

... lending through Federal land bank associations. (a) Farm Credit Banks and agricultural credit banks may delegate authority to make credit decisions to Federal land bank associations that demonstrate the ability... Farm Credit Bank and each agricultural credit bank lending through Federal land bank associations shall...

Financial Liberalization and Banking Profitability: a Panel Data analysis for Tunisian Banks

Directory of Open Access Journals (Sweden)

Hakimi Abdelaziz

2011-01-01

Full Text Available The financial liberalization policy was undertaken in several countries like in Tunisia in order to have modern and dynamic financial system. However, the consequences of this program are completely divergent from it’s waitings. In this paper, on the basis of data relating to 9 Tunisian banks over the period 1980-2009, and by adopting the panal data analysis, we will try to check the effect of financial liberalization on the Tunisian banking profitability. The results of our study show a negative and significative relation between financial liberalization and banking profitability.

Bank Risk-taking, Country Financial Capacity and Bank Bailouts in Crisis Periods

DEFF Research Database (Denmark)

Schiozer, Rafael Felipe; Vilarins, Ramon S.; Mourad, Frederico A.

, in normal times, rescue guarantees to large financial institutions distort competition in the sector and increase the risk of the unprotected institutions. Moreover, unprotected banks decrease their risk exposures faster than protected banks after the eruption of the 2007-2008 crisis, particularly......This paper analyzes the impact of government bailout policies on the risk of the banking sector in OECD countries between 2005 and 2013. Consistent with previous literature, we verify that financial institutions with high bailout expectations assume higher risks than others do. We also find that...

Monetary and Fiscal Policy Interaction and the Relationship between the Central Bank and the Government. (The Case of Republic of Moldova

Directory of Open Access Journals (Sweden)

Corina Chironachi

2015-08-01

Full Text Available In this paper the author is analyzing the impact of fiscal and monetary policies on the dynamics of the exchange rate, inflation and other macroeconomic variables. The author investigates the forms of strategic interaction between the Government and the Central Bank in designing and implementing these policies. As a result, the author concludes the necessity of institutions cooperation in the development and implementation of monetary and fiscal policy measures, but also concluded that the responsible institutions must remain independent in achieving an efficient monetary and fiscal policy of the Republic of Moldova.

The influence of bank employees on bank customer relationship management

Directory of Open Access Journals (Sweden)

C. Rootman

2007-12-01

Full Text Available Purpose: Despite extensive research in services marketing, much is still unknown to specific service providers on the influence of their employees on their services. This paper attempts to address this limitation and investigates the influence of employees on the customer relationship management (CRM of banks. The primary objective of this paper is to investigate the influence of selected independent variables, namely attitude and knowledgeability, on the CRM of banks. Design/Methodology/Approach: An empirical investigation was conducted with a structured questionnaire with items that related to banks' CRM in terms of attitude and knowledgeability. The sample consisted of 290 banking clients in the Nelson Mandela Metropolitan area and the response rate was 91.03%. Findings: Significant positive relationships exist between both the knowledgeability, and attitude of bank employees and a bank's CRM. These relationships imply that more extensive knowledgeability and more positive attitudes of bank employees lead to improved, maintained relationships between a bank and its clients. Employees play an important role in banks’ client relationships. Implications: Banks should focus on increasing their employees' knowledgeability and improving their attitude to ensure higher levels of CRM. This paper provides strategies for banks and could create greater awareness among South African banks of the advantages of CRM, how their employees influence their CRM, and ways to adapt to these influences. Originality/Value: No study has focused exclusively on CRM within banks in South Africa. Prior research focused on customer service and service quality; both possible results of superior CRM. However, this research differs, as it identifies the variables influencing CRM in banks in South Africa. It is proposed that this paper will be beneficial for South African banks, as the recommendations may be used to ensure higher levels of CRM in banks.

12 CFR 918.2 - Annual directors' compensation policy.

Science.gov (United States)

2010-01-01

... § 918.3. At a minimum, such policy shall address the activities or functions for which attendance is... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Annual directors' compensation policy. 918.2... HOME LOAN BANKS BANK DIRECTOR COMPENSATION AND EXPENSES § 918.2 Annual directors' compensation policy...

Macroprudential Policy: A Summary

Directory of Open Access Journals (Sweden)

Mahdi Ebrahimi Kahou

2016-05-01

Full Text Available The 2007 global financial crisis brought sharply into focus the need for macroprudential policy as a means of controlling systemic financial stability. This has become a focal point for policy-makers and numerous central banks, including the Bank of Canada, but it has its drawbacks, particularly here in Canada. As a counterbalance to microprudential policy, the idea of a macroprudential outlook reaches beyond the notion that as long as every banking institution is healthy, financial stability is assured. Macroprudential policy recognizes that all those financial institutions are linked, and that stability at the individual level may translate to fragility and uncertainty at the macro level. There are two approaches to macroprudential policy, and both come with downsides. One approach examines the network factor, in which banks are linked through their inter-connected financial transactions. A domino effect can thus be created; when one bank defaults, it causes a chain reaction down the line, creating instability in other banks in the network. The extent of this contagion of instability can be clearly observed through this model; unfortunately, it requires the use of detailed information typically available only to a limited circle of bank supervisors. The second approach gleans information from bank stock prices in a poorly performing market. This information is easily available and accessed, but the downside is the lack of clear understanding on how exactly these shocks travel through the complex links of the global banking system. Canada’s banking system is small and has only six major banks. However, it is important to understand how they are interconnected and how each individual bank can contribute to overall risk. Not only do banks need to be sufficiently capitalized in the normal business cycle, but it may be worthwhile for the sake of overall financial stability to create mechanisms, as regulators in some countries are doing

Review of automated vehicle technology : policy and implementation implications.

Science.gov (United States)

2016-03-14

The goals of this project were to undergo a systematic review of automated vehicle technologies with a focus on policy : implications, methods of implementation, regulation by states, and developments occurring on legal fronts, ultimately creating a ...

Financial stability and monetary policy -The case of Brazil

Directory of Open Access Journals (Sweden)

Benjamin M. Tabak

2013-12-01

Full Text Available This paper seeks to examine the effects of monetary policy over banks' loans growth and whether there is a bank lending channel operating in Brazil. Therefore, we employ a detailed high frequency panel data in which we include bank characteristics and ownership control. We contribute to the literature on bank lending channel by showing that during periods of loosening/tightening monetary policy, banks increase/decrease their loans. Additionally,our results illustrate that large, well-capitalized and liquid banks react differentially to the effects of monetary policy shocks. Finally, we show that the impact of monetary policy differs across state-owned, foreign and private domestic banks. These results are important for developing and conducting monetary policy.

Faktor Penentu Yang Mempengaruhi Penggunaan Layanan Internet Banking

OpenAIRE

Sihotang, Ellen Theresia

2016-01-01

This study aims to analysis the important factor that influence the use of internet banking according to Booklet Perbankan Indonesia 2016 and the implication for the marketing of internet banking services. Security has become a determining factor which affecting the use of internet banking services. It is important for the bank to find out how to maintain the customers who have used the internet banking services in order to encounter competition with a variety of banking services distributi...

Quantifying the spatial implications of future land use policies in South Africa

NARCIS (Netherlands)

Le Roux, A.; Augustijn-Beckers, Petronella

2017-01-01

Land use policies have a definite and lasting impact on the way that cities grow; however, it is difficult for policy- and decision-makers to observe and quantify the implications of their land use policies and strategies. There is thus a need for information and tools that can adequately support

Overview of Financial Contagion Channels in the Banking Sector of Baltic States

Directory of Open Access Journals (Sweden)

Laura Gudelytė

2014-10-01

Full Text Available AbstractThis article aims to determine and analyse the main features of channels of financial contagion in the banking sector of Baltic States. The most relevant channels seem to be the risk of common lender, the channel of real estate prices the channel of other macroeconomic shocks and the channel of volatility. This paper contributes to the further analysis of internal and external causes of financial crisis and its transmission channels in banking sector in Baltic States.Purpose To indicate and explain main problems related to the systemic risk and the channels of financial contagion in the banking sector of Baltic States.Design/methodology/approach – general overview of research papers presenting concepts and methodologies of assessment of systemic risk of the banking sector, statistical analysis of financial data.Findings determination of the main channels and extent of financial contagion that are relevant to banking sector of Baltic States.Research limitations/implications – the lack of information concerning the liquidity and asset structure of banking sector of Baltic States and the real estate prices in Baltic States. The most common problem analysing the financial contagion and systemic risk is the lack of information (especially about the structure of liabilities and assets of financial institutions, its maturity and the changing new banking regulatory conditions. Due the lack of data it is impossible to create stable and reliable statistical models describing the stochastic behaviour of financial contagion. We do not take into account the political factors concerning the reforms of financial market supervision that have also the impact on financial contagion and systemic risk ant the point of view to Baltic States of foreign investors. The findings of this article should ground the macro-prudential policy in the small countries of supervising institutions focussing on the external factors.Practical implications �

APPLIED ISSUES ABOUT BANKING RISK MANAGEMENT

Directory of Open Access Journals (Sweden)

Elena Geanina Clipici

2017-09-01

Full Text Available The following paper emphasizes the need to deepen the understanding of the notion of banking risk management by explaining the significant risks the bank encounters during financial exercises as well as their additional entries. The study of the paper will focus on UniCredit Bank during the years 2014 and  2015 on all types of risks, in which we will provide comprehensive data on how the UniCredit Bank management applies its risk policies.

Central bank transparency, private information and the predictability of monetary policy in the financial markets : theoretical, experimental and empirical evidence

NARCIS (Netherlands)

Middeldorp, M.H.

2010-01-01

Central banks worldwide have become considerably more communicative about their policies and forecasts. An important reason is that democratic societies expect such transparency from public institutions. Central bankers, supported by a significant body of empirical research, also believe that

European banks in Ukraine: Modelling risks, rewards and making forecasts

Directory of Open Access Journals (Sweden)

Helen Kostyuk

2014-12-01

Full Text Available The new model for banking control and regulation, suggested by Basel III, together with high dividend expectations of shareholders have fostered the transformation of the business model in European banking. The scale of market shares no longer plays an important role in banking business. The emphasis is now laid on its efficiency. It is determined by ROE indicators, the positive dynamics of which serves as: a good indicator for ensuring a proper level of capital adequacy of the bank and reducing systemic risks; a precondition for meeting the dividend expectations of shareholders; evidence of effective management of capital assets and bank costs. Thus, assessing and preventing the outflow of foreign capital from the national banking sector, the national market regulators should clearly understand the motivation behind it and take into account the business strategies of parent European banks, which include the following points: low liquidity of the stock market of the Eurozone, which significantly complicates the process of capitalization of European banking institutions, and inability to attract capital in sufficient amounts; potential opportunity for capitalization of banks (to meet the requirements of Basel III in the context of bank management and shareholders relations (improvement of profit management policy and dividend policy; optimization of asset management policy in order to reduce RWA assets in the assets of both parent and subsidiary banks

THE EUROPEAN CENTRAL BANK AND THE EUROZONE CRISIS MANAGEMENT

Directory of Open Access Journals (Sweden)

MONICA ŞAGUNA

2013-05-01

Full Text Available The Euro is the single currency shared by 17 of the European Union's Member States, which together make up the Euro area. Since its introduction, in January 2002, it became the second most traded currency in the world after the United States dollar. With the launch of the Euro, the monetary policy became the responsibility of the independent European Central Bank, which was created for that purpose, and of the national central banks of the Member States, having adopted the Euro. However, the accumulation of massive and unsustainable deficits and public debt levels in a number of peripheral economies threatened the Eurozone's viability by the end of its first decade, triggering a Eurozone sovereign debt crisis. The institutional mechanisms surrounding the Euro have also been an integral part of the crisis. On this line, the European Monetary Union is supported on one side by treaties and multilateral agreements including the Maastricht Treaty, the Stability and Growth Pact and the Lisbon Strategy and, on the other side, by the European Central Bank. The combination of these institutions has produced a mix of monetary, fiscal and labour market policies with powerful social implications. And, what started as a debt crisis in Greece in late 2009 has evolved into a broader economic and political crisis in the Eurozone and European Union. In this framework, the purpose of my paper is to analyze the roots of the Eurozone crisis, as the biggest challenge since the Euro adoption and the European Central Bank’s response to it. Therefore the objectives are: identification of the reasons that stand behind the crisis, then observing how the crisis has affected the functioning of the European Central Bank and the Euro, and how it was forced to respond and, finally, focusing on the future and the challenges that lie ahead.

Energy operations policy

International Nuclear Information System (INIS)

1993-01-01

It is reported that energy policy was designed following the European Bank for Reconstruction and Development review of the most pressing energy issues confronting Central and Eastern Europe and the republics of the former Soviet Union. The main features of the policy described in the document set the general framework for the Bank's energy operations. Energy strategies for particular countries are designed as an integral part of the Bank's individual country strategies. Tabs

Drug Testing in the Schools. Implications for Policy.

Science.gov (United States)

Bozeman, William C.; And Others

Drug testing of district employees and students is examined from several perspectives: implications for school policy, legality, administration and protocol, and test reliability and accuracy. Substance abuse has become a major concern for educators, parents, and citizens as illegal drugs are more readily available. It is also pointed out that the…

Upgradation and modernization of eye banking services: Integrating tradition with innovative policies and current best practices.

Science.gov (United States)

Tandon, Radhika; Singh, Archita; Gupta, Noopur; Vanathi, M; Gupta, Vivek

2017-02-01

The purpose of this study is to review the history and evolution of the National Eye Bank (NEB) and analyze the impact over the years and report the outcome of the invested resources. Review of archival material, records, project reports, policy and procedures' manuals, and publications was done. Descriptive and analytical processing of data obtained was undertaken. Parameters evaluated included total collection, transplantation, utilization rates of donor cornea, changing trends over time in terms of numbers and duration of recipients waiting, impactful research translated into changes in standard operating protocols, new facilities, and subsequent effects on numbers or quality assurance measures and overview of major achievements. Periodic situational analysis with contextual relevance and interpretation of outcomes was done pertaining to national goals and international standards. The NEB and cornea services have played a key leadership role in furthering the development of eye banking and corneal transplantation services. The contribution extends beyond routine patient care to education, training, generation of resources, advocacy, and policymaking. In quantifiable terms, the overall performance has steadily increased over the years. Major contributions include training of doctors, eye bank staff and corneal surgeons, introduction of innovative techniques for corneal transplantation, setting of national standards for eye banking and provision of preservation media, customized corneal, and ocular surface cell replacement therapy in collaboration with other departments and institutes. The eye banking and corneal transplantation facilities have evolved with time providing quality services, modernized as appropriate with updated knowledge and incorporating technological advances supported by the systematic evidence-based approach.

Monetary policy strategy in a global environment

OpenAIRE

Moutot, Philippe; Vitale, Giovanni

2009-01-01

This paper discusses the structural implications of real and financial globalisation, with the aim of drawing lessons for the conduct of monetary policy and, in particular, for the assessment of risks to price stability. The first conclusion of the paper is that globalisation may have played only a limited role in reducing inflation and output volatility in developed economies. Central banks should remain focused on their mandate to preserve price stability. However, the globalisation of fina...

Monetary Policy Analysis in Serbia

Directory of Open Access Journals (Sweden)

Martin Vesna

2015-09-01

Full Text Available The paper focuses on analysing monetary policy in Serbia. The National Bank of Serbia chose inflation targeting, which sets price stability as the main objective of monetary policy. To achieve this goal, the central bank uses different monetary policy instruments which analysis can provide us with the understanding of the main directions of their actions but also of the limitations of its application. Only through improvement of both instruments and monetary policy the central bank will create a better foundation for achieving monetary stability. In addition, the implementation of exchange rate policy is entrusted to the National Bank of Serbia, as the main regulator of the financial system. A mere use of managed floating exchange rate, as the chosen exchange rate regime, is an appropriate solution in the current economic circumstances and in accordance with the desired objective of monetary policy.

Ownership concentration and bank risk (A study on banking sectors in Indonesia

Directory of Open Access Journals (Sweden)

Etikah Karyani

2015-08-01

Full Text Available The purpose of this study is to test empirically the relationship between ownership concentration and risk taking by banks which are proxied by the CAR and LDR (li-quidity ratio. The study was motivated by the limited previous studies that analyze the structure of ownership in financial institutions and the weaknesses in sampling. Our analysis focused on Indonesia because this country has implemented the Basel Accord II standards successfully. This regulatory compliance is expected can control banking risk. Using data from 2009 until 2013 and panel data. We found that the ownership concentration become important determinants of bank liquidity. These findings are expected to provide policy guidance for regulators, especially relating to the ownership structure of the bank. However, the ownership concentration proved to be involved in the management decision to risk taking in banks.

Implications of the Netherlands' environmental policy for offshore mining

International Nuclear Information System (INIS)

Meijer, K.; Krijt, K.

1991-01-01

The environmental policy in the Netherlands, as outlined in the National Environmental Policy Plan, aims for a sustainable development. In principle a two track approach is adhered to: source oriented as well as effects oriented. Effects oriented policy includes the setting of environmental quality objectives and is used to establish the final goals for the source-oriented measures. The policy aims at integrated life-cycle management; in the final target situation all waste is used again as raw material and remaining emissions to the environment should comply with the environmental objectives. In this paper the implications of this policy for the offshore mining industry are elaborated, both for drilling operations and for the production of oil, gas and condensate. The results of the recently concluded Environmental Impact Assessment for the offshore mining industry as a whole are also elaborated

Financial Crises As the Failure of Arbitrage: Implications for Monetary Policy

OpenAIRE

Saito, Makoto; Shiratsuka, Shigenori

2001-01-01

This paper attempts to view financial crises as the failure of arbitrage among financial markets, and takes the “Japan premium” phenomenon observed in offshore money markets as an important example in favor of this view. In addition, we reconsider, from this perspective, the open market operations conducted by a central bank during a period of financial distress. The paper first derives from the existing theoretical literature several implications regarding how arbitrage among markets is prev...

Analisis Pengaruh Kebijakan Perkreditan Terhadap Tingkat Permintaan Kredit Pada Bank BUMN Di Sumatera Utara (Studi Kasus Pada PT. Bank Negara Indonesia (Persero) Tbk Sentra Kredit Kecil Medan

OpenAIRE

Simangunsong, Abdul Rahim

2009-01-01

The main source of invesment loan in developing countries like Indonesia generally still be dominated by banking credit. Amount of credit influenced by demand of credit from corporate sectors. A lot of factor influencing demand of credit by corporate sectors, specially UMKM, among other is policy of credit by bank. The policy of credit is consist of the policy about credit, perception on standard operational of credit prosedure and credit services by bank. The formulation of the case in this ...

A Theory of Central Bank Accountability

NARCIS (Netherlands)

Eijffinger, S.C.W.; Hoeberichts, M.M.; Schaling, E.

1998-01-01

This paper develops a theory of central bank accountability. Two aspects of accountability are considered. The first one is transparency of actual monetary policy, the second aspect is the question of who bears final responsibility for monetary policy. Monetary policy is transparent if there is

Competition between bank regulators

OpenAIRE

Schindler, Dirk; Eggert, Wolfgang

2004-01-01

This paper examines competition between bank regulators in open economies. We use a model where credit demand of firms is endogenous and show any tendency for downward competition in regulation policy is limited by the effect of regulation on profits of nonfinancial firms. Moreover, perfect mobility on loans and deposit markets fully eliminates the incentives of regulators to set bank regulation at ine±cient low levels.

The model of asset management of commercial banks

OpenAIRE

Shaymardanov, Shakhzod; Nuriddinov, Sadriddin; Mamadaliev, Donierbek; Murodkhonov, Mukhammad

2018-01-01

The main objective of the commercial bank's policy in the sphere of asset and liability management is to maintain the optimal structure of assets and liabilities, ensure the compliance of amounts, terms and currency of attracting and allocating resources. The objectives and principles of asset and liability management are based on the bank's strategy and the fundamental principles of the risk management policy.

EU'S ANTIDUMPING POLICIES TOWARDS CHINA AND THEIR IMPLICATIONS

OpenAIRE

CLINCI, Ionut Cristian

2013-01-01

This paper first tries to describe the antidumping measures and to explain how they work in the trade relations between EU and China. Then it tries to explain the implications of the antidumping measures from an economic perspective. Finally, the paper tries to answer the question whether the EU discriminates China in its antidumping policies.

12 CFR 615.5181 - Bank interest rate risk management program.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Bank interest rate risk management program. 615... FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Risk Assessment and Management § 615.5181 Bank interest rate risk management program. (a) The board of directors of each Farm Credit Bank...

Nuclear power phaseout policy and the economic implications for Germany

International Nuclear Information System (INIS)

Pfaffenberger, W.

1999-01-01

Implementation of Germany's nuclear power phaseout policy and the expected consequences are discussed in this paper, referring to environmental aspects and Germany's international commitments under the UN Framework Convention on Climate Change, implications for the national economy, the required structural transformation of the energy industry, and changes in the general legal setting for the energy sector. Proposals are discussed for modifying the planned nuclear power phaseout policy so as to make the process of winding down nuclear generation more compatible with economic, social, and environmental policy conditions. (orig./CB) [de

Innovation and inter-firm linkages : new implications for policy

NARCIS (Netherlands)

Nooteboom, B

This article discusses the implications for competition, innovation and learning of different forms of inter-firm linkage, ways to govern them, different 'generic systems' of innovation, and government policy. It employs a transformed theory of transactions that can deal with innovation and

12 CFR 614.4080 - Loans and chartered territory-banks for cooperatives.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Loans and chartered territory-banks for cooperatives. 614.4080 Section 614.4080 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Chartered Territories § 614.4080 Loans and chartered territory—banks for...

Investing in Climate Change. Dutch Banks Compared

International Nuclear Information System (INIS)

Buurgaard Nielsen, J.; Pols, D.; Van Gelder, J.W.; Denie, S.; Scheire, C.

2007-06-01

This report is the first comparison of the climate change performance of Dutch banks that analyses the actual investments of these banks. It reviews a substantial share of each bank's portfolio, according to three criteria: how much they invest in the main cause of climate change, fossil fuels; how much they invest in the main alternative to fossil fuels, renewable energy; the bank's plans and policies to limit their contribution to climate change

Credit risk management in banks

OpenAIRE

Pětníková, Tereza

2014-01-01

The subject of this diploma thesis is managing credit risk in banks, as the most significant risk faced by banks. The aim of this work is to define the basic techniques, tools and methods that are used by banks to manage credit risk. The first part of this work focuses on defining these procedures and describes the entire process of credit risk management, from the definition of credit risk, describing credit strategy and policy, organizational structure, defining the most used credit risk mi...

Role of Islamic Banking and Conventional Against Poverty with The Dual Banking System

Directory of Open Access Journals (Sweden)

Iwan Setiawan

2016-12-01

Full Text Available Islamic banking in Indonesia is present in a dual banking system. Islamic banking is expected to contribute more in the process of economic development and improving people’s welfare. The  main  objective of  this  study is  to  analyze the  role  of  financing Islamic banking and conventional banking credit to the improvement of people’s welfare as measured by reductions in poverty. The study was conducted using  the explanatory method, applying the  panel  regression estimation techniques simultaneously with the  Two Stage Least Square  method (TSLS  using  data from the period 1992-2012. Results  of the study reveals that the increased of  financing Islamic banking and conventional banking credit assign roles  to poverty reduction in Indonesia. The role of Islamic banking financing is lower  than conventional bank  credit role  in reducing poverty. In addition to improve financing and credit, changes should be applied in the value  of the instruments of monetary policy, economic growth, unequal distribution  of income and  the depreciation  of the local  currency that contribute towards poverty conditions.

Banks' Stability: The effect of Monetary Policies in the light of Global Financial Crisis

Directory of Open Access Journals (Sweden)

Wael Bakhit

2014-04-01

Full Text Available This paper employs a quarterly time series to determine the timing of structural breaks for interest rates in USA over the last 60 years. The Chow test is used for investigating the non-stationary, where the date of the potential break is assumed to be known. Moreover, an empirically examination of the financial sector to check if it is positively related to deviations from an assumed interest rate as given in a standard Taylor rule. The empirical analysis is strengthened by analysing the rule from a historical perspective and look at the effect of setting the interest rate by the central bank on financial imbalances. The empirical evidence indicates that deviation in monetary policy has a potential causal factor in the build up of financial imbalances and the subsequent crisis where macro prudential intervention could have beneficial effect. Thus, my findings tend to support the view which states that the probable existence of central banks has been one source of global financial crisis since the past decade.

The European Central Bank: The Bank that rules Europe?

OpenAIRE

Howarth, D.

2009-01-01

The power of the European Central Bank (ECB) is rooted in its independence established in the Maastricht Treaty of 1992. This power is reinforced though the bank’s monetary policy credibility—achieved through meeting its price stability mandate, whilst resisting political pressures to manipulate monetary policy to other ends. This credibility contributes to the ideational power of the ECB which is rooted in widespread support for price stability, one of the core objectives of Economic and Mon...

BASEL III – IMPLICATIONS OF THE NEW AGREEMENT UPON THE BANKING SYSTEMS

Directory of Open Access Journals (Sweden)

VLADA RAMONA IOANA

2013-12-01

Full Text Available Global banking crisis generated by the subprime crisis in the U.S., received in December 2010, as a response from the Committee on Banking Supervision of the Bank for International Settlements, new capital adequacy rules for banks under the Basel III title: International framework for measurement, standardization and monitoring of liquidity risk, and Basel III: A global regulatory framework for banks and a sounder banking system with new capital adequacy rules for banks. These regulations are the focus of global financial reform to prevent future occurrence of banking crises.

Implications of e-commerce for banking and finance

NARCIS (Netherlands)

Heng, Michael S.H.

2001-01-01

The aim of the paper is to show that e-commerce holds the potential totransform banking and financial systems. There are three aspects in which e-commercecan affect banking and finance. First, banks and financial firms can use thetechnology and business practice of e-commerce to market their

Creative Accounting Model for Increasing Banking Industries’ Competitive Advantage in Indonesia

Directory of Open Access Journals (Sweden)

Supriyati

2015-12-01

Full Text Available Bank Indonesia demands that the national banks should improve their transparency of financial condition and performance for public in line with the development of their products and activities. Furthermore, the banks’ financial statements of Bank Indonesia have become the basis for determining the status of their soundness. In fact, they tend to practice earnings management in order that they can meet the crite-ria required by Bank Indonesia. For internal purposes, the initiative of earning management has a positive impact on the performance of management. However, for the users of financial statements, it may dif-fer, for example for the value of company, length of time the financial audit, and other aspects of tax evasion by the banks. This study tries to find out 1 the effect of GCG on Earnings Management, 2 the effect of earning management on Company value, theAudit Report Lag, and Taxation, and 3 the effect of Audit Report Lag on Corporate Value and Taxation. This is a quantitative research with the data collected from the bank financial statements, GCG implementation report, and the banks’ annual reports of 2003-2013. There were 41 banks taken using purposive sampling, as listed on the Indonesia Stock Exchange. The results showed that the implementation of GCG affects the occurrence of earning management. Accounting policy flexibility through earning management is expected to affect the length of the audit process and the accuracy of the financial statements presentation on public side. This research is expected to provide managerial implications in order to consider the possibility of earnings management practices in the banking industry. In the long term, earning management is expected to improve the banks’ competitiveness through an increase in the value of the company. Explicitly, earning management also affects the tax avoidance; therefore, the banks intend to pay lower taxes without breaking the existing legislation Taxation

Monetary policy and insolvency of economic sector

Directory of Open Access Journals (Sweden)

Tepavac Rajko

2012-03-01

Full Text Available The main task of monetary policy of our central bank is to achieve and preserve stability of prices and currency. Targeted inflation rate has been chosen as operating instrument for gradual realization of low and stable inflation, along with elimination of inflation expectations. Also, a specific inflation corridor is chosen to ensure operations, transparency and ex ante effects of monetary policy. The paper presents analysis on whether there really is a restrictive monetary policy, deflections of real inflation from the programmed one, level of 'restrictiveness' of monetary policy and behavior of bank loans, money supply, nominal and real economic growth. Analysis is carried out and criticism of concepts of monetary regulation of mandatory bank reserves, blocking of financial bank potential through monetary regulation instruments, but also relations between central and business banks through open market policy. Criticism of repo operations and complete disappearance of selective credit policy is provided as well. The problem of almost embedded insolvency of economic sector is highlighted.

Universal banking and the return of ‘glass-steagall’

Directory of Open Access Journals (Sweden)

George C. Bugeja

2013-09-01

Full Text Available The article aims to consider the arguments for and against universal banking and considers universal banking within different systems of law. The author also provides insight into the discussions on the changes to the banking regulatory infrastructure and the implications which this may have.

BASEL III – IMPLICATIONS OF THE NEW AGREEMENT UPON THE BANKING SYSTEMS

OpenAIRE

VLADA RAMONA IOANA; BANU IOANA MADALINA

2013-01-01

Global banking crisis generated by the subprime crisis in the U.S., received in December 2010, as a response from the Committee on Banking Supervision of the Bank for International Settlements, new capital adequacy rules for banks under the Basel III title: International framework for measurement, standardization and monitoring of liquidity risk, and Basel III: A global regulatory framework for banks and a sounder banking system with new capital adequacy rules for banks. These regulations are...

The anatomy of bank performance during transition: A separate efficient frontier analysis of Ukrainian banks

Directory of Open Access Journals (Sweden)

Ihsan Isik

2016-04-01

Full Text Available By drawing on Ukrainian experience, this paper analyzes the anatomy of bank efficiency in a transitional economy. Acknowledging the vast disparities in the business technology of different size banks, in this comprehensive study, we innovatively estimate group-specific (distinct frontiers for small, medium, and large size banks. The results from separate frontiers reveal that Ukrainian banks record 38% technical inefficiency, 26% pure technical inefficiency, and 17% scale inefficiency on average. Apparently, banks in transition waste about the two fifths of their factor inputs during the production of financial services. The cardinal source of sub-performance in transitional banks seems to be managerial inefficiencies. We also found that banks operating in areas with more political influence and more developed infrastructure outperform the banks operating in politically and economically weaker regions. The results also indicate that larger banks, enjoying public trust in a risky business climate, dominate smaller banks in all forms of efficiency. However, such bias for size causes large banks to suffer from decreasing returns to scale and small banks from idle capacity. Consequently, the policies promoting consolidation between small and large banks may alleviate the excess (idle capacity for large (small banks in a transitional economy.

The Mayekawa Lecture: Central Banks-Paradise Lost

OpenAIRE

Otmar Issing

2012-01-01

The focus of the paper is to analyze how the concept behind central bank policy developed over time and how the recent financial crisis and its consequences will have an influence. While the principles of the institutional arrangement for central banks (independence, clear mandate, prohibition of monetary financing) are relevant as ever, pre- crisis consensus strategies of monetary policy have been revealed as flawed. The close monitoring of money and credit developments, a key lesson to be d...

Compulsive Buying among College Students: An Investigation of Its Antecedents, Consequences, and Implications for Public Policy.

Science.gov (United States)

Roberts, James A.

1998-01-01

This study investigated the incidence, antecedents, consequences, and policy implications of compulsive buying among college students (n=300). Details contributing factors and discusses the relationship between credit card use and compulsive buying. Discusses the implications for consumer policy and suggestions for further research. (JOW)

The Value of the “Too Big to Fail” Big Bank Subsidy

OpenAIRE

Dean Baker; Travis McArthur

2009-01-01

One outcome of the TARP and other bank rescue efforts following the collapse of Lehman Brothers in September of 2008 is that the United States has essentially formalized a commitment to a “too big to fail” (TBTF) policy for major banks. This paper uses data from the FDIC on the relative cost of funds for TBTF banks and other banks, before and after the crisis, to quantify the value of the government protection provided by the TBTF policy.

MONETARY POLICY ADJUSTMENT AT THE GLOBAL FINANCIAL CRISIS CONSTRAINTS

Directory of Open Access Journals (Sweden)

Adina Criste

2014-12-01

Full Text Available The global financial crisis marked a border for central banks, as it raised challenges which constrained them both to extend the range of monetary policy instruments and to redefine their role in the financial system. The present paper aims to identify features of conducting the monetary policy of some central banks, during and after the global financial crisis outbreak. For that purpose, we apply to a comparative analysis between some central banks of European Union (EU, namely Czech National Bank (CNB, National Bank of Hungary (NBH, National Bank of Poland (NBP and National Bank of Romania (NBR. We also assume that the monetary policy could be characterised through both the challenges faced by the central banks and the type of measures adopted, as a reaction to these challenges. Analysis shows that central banks have different levels of burden, according to domestic condition, and also different ”pattern” of monetary policy adjustments, using more or less unconventional or macro-prudential measures. An important conclusion raised from this article refers to the increasing role of these special measures for central banks, which requires defining a new monetary policy framework in the near future.

Japan's approach to monetary policy

OpenAIRE

Giovanni P. Olivei

2002-01-01

The goal of monetary policy as conducted by the Bank of Japan is to contribute to the sound development of the national economy through the pursuit of price stability. The objective of price stability, however, is not precisely defined as it has been for other central banks. Following the implementation of the new Bank of Japan Law in 1998, the monetary policy framework is characterized by central bank independence, the primacy of the price stability objective, instrument independence, and po...

US stock market crashes and their aftermath: Implications for monetary policy

OpenAIRE

Mishkin, Frederic S.; White, Eugene N.

2002-01-01

This paper examines fifteen historical episodes of stock market crashes and their aftermath in the United States over the last one hundred years. Our basic conclusion from studying these episodes is that financial instability is the key problem facing monetary policy makers and not stock market crashes, even if they reflect the possible bursting of a bubble. With a focus on financial stability rather than the stock market, the response of central banks to stock market fluctuations is more lik...

Policy Implications of Air Quality Research

Science.gov (United States)

Sheinbaum, C.

2004-12-01

While an integrated assessment approach will be required to achieve and sustain improvements in the air quality of Mexico City Metropolitan Area's (MCMA), policy strategies must be based on a solid understanding of the pollutant emissions and atmospheric processes that lead to unacceptable levels of air pollution. The required level of understanding can only be achieved by comprehensive atmospheric measurements followed by a coordinated atmospheric modeling program. The innovative, two-phase atmospheric measurement program, which was a collaborative effort between Massachusetts Institute of Technology and the Mexican Metropolitan Environmental Commission, with exploratory measurements in February 2002 and extensive measurements from late March through early May of 2003, was an important step towards meeting these requirements. Although the extensive data sets from the two measurement programs are still being analyzed by the investigators, their preliminary analysis efforts have yielded important insights into the nature and extent of air pollution problem in the MCMA, which in turn will have important policy implications.

Competition and entry in banking: implications for capital regulation

NARCIS (Netherlands)

Boot, A.W.A.; Marinč, M.

2006-01-01

We assess how capital regulation interacts with the degree of competitiveness of the banking industry. We particularly ask two questions: i) how does capital regulation affect (endogenous) entry; and ii) how do (exogenous) changes in the competitive environment affect bank monitoring choices and the

Teachers under examination: reflections on teacher assessment policies

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Eneida Oto Shiroma

2011-06-01

Full Text Available This article discusses the current proposals of teacher assessment in Brazil. Based on historical materialism, we analysed national and international documents aiming at identifying the goals of this sort of assessment, the justifications for its implementation and debates about its outcomes. We found convergences between the policies recommended by the multilateral agencies, especially by the World Bank and the Organization for Economic Co-operation and Development, and those adopted in Brazil, which indicates the great interest and influence of multilateral organizations in the development of policies for teachers. The first reactions of teachers, researchers, teacher associations and training institutions, added to the experiences of other countries that have adopted teacher assessment policies earlier, help us to understand possible outcomes and implications of these policies for teachers as a class, their careers and unions.

Tourism and spatial transformations; implications for policy and planning

NARCIS (Netherlands)

Ashworth, G.J.; Dietvorst, A.G.J.

1995-01-01

The transformation of space by tourism and recreation is examined and the implications for tourism policy and planning are drawn out. A general model of transformation as a guide to intervention is presented. The first part of the book focuses on the procedures and includes case-studies from the

&A, COMPETITION AND PERFORMANCE IN THE SLOVENIAN BANKING SYSTEM

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Andreea Nicoleta Popovici

2014-04-01

Full Text Available The process of mergers and acquisitions is the main method used by financial institution to grow and to obtain better performance. The main effect of the implication of banks in mergers and acquisitions (M&A translates into a higher degree of market share of the banks and also that the small banks will soon become global banks. This article underlines the relationship between bank performance and degree of concentration of the Slovenian banking sector during 2006-2012 using a simple linear regression model.

Central Bank Independence, Transparency and Accountability Indexes: a Survey

Directory of Open Access Journals (Sweden)

Dumiter Florin Cornel

2014-06-01

Full Text Available Recently, the remarkable trend upon central bank independence and the efficient monetary policy were seriously highlighted in the monetary economics field. Starting from 1990s’ central bank independence was at the core of policy making and central banking problems, because of the widespread economical, political, personal and budgetary autonomy of the central bank. Nowadays, we can observe an increasing trend upon central bank transparency, for evaluating more accurate the central bank’s performances by the wide public, mass-media and financial markets. Consequently, a central bank must encompass a high degree of accountability and responsibility, because of the final liability in case of failure. In this paper we present, analyze and assess the construction of the most important indices regarding central bank independence, transparency and accountability in a chronological manner, presenting also the advantages and disadvantages of these indices related to actual practices of central banks. Moreover, we analyze the analytical results of the empirical testing of these indices with a considerable impact upon the developed and developing country group. In regard with the empirical results of different authors, we suggest the importance and the necessity for constructing an aggregate index for measuring central bank independence, transparency and accountability, based on de jure stipulations and the actual practices of the central banks.

Banking on the Nation

DEFF Research Database (Denmark)

Ravn Sørensen, Anders

2015-01-01

In this article, I analyse the narratives of four Danish central bank governors from the late nineteenth century until the mid-1990s. By conducting a historical analysis informed by neo-institutional theory, I show how these central bank governors were continuously involved in public debates over...... the appropriateness and desirability of their decisions and policies. In these debates, interpretations and reproductions of Danish national identity were central to the governors' claims to legitimacy. I argue that past narratives of the Danish central bank and its governors enabled and framed future legitimacy...... claims and that the central bank and its governors gradually became embedded in national identity. Thus, the article highlights the historical development of the co-configuring relationship between Danish national identity and the legitimacy of monetary organization....

Value at risk, bank equity and credit risk

OpenAIRE

Broll, Udo; Wahl, Jack E.

2003-01-01

We study the implications of the value at risk concept for the bank's optimum amount of equity capital under credit risk. The market value of loans is risky and lognormally distributed. We show that the required equity capital depends upon managerial and market factors. Furthermore, the bank's equity and asset/liability management has to be addressed simultaneously by bank managers.

State, federalism and educational policies: implications in brazilian education

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Karla Cristina Silva Sousa

2018-01-01

Full Text Available The article discusses the relationship between state and federalism as a political and administrative organizational form of the state and its implications in Brazilian educational policy. For that, we follow the analysis of the concepts of State, federalism, and educational policies from the classics of Machiavelli (2001, Locke (1998, Rousseau (1999, Hamilton, Jay and Madison (2003, Abrucio Arretche (1996, among others. Therefore, we see that the new Brazilian federalism based on the model proposed by the American Constitution brings the local powers – the municipalities – as new agents within the educational policy and the collaboration regime as a means of effecting cooperative federalism in Brazil. We conclude that the federalism, in Brazilian model, presents itself as demos constraining the national sub-governments.

12 CFR 360.2 - Federal Home Loan banks as secured creditors.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Federal Home Loan banks as secured creditors... OF GENERAL POLICY RESOLUTION AND RECEIVERSHIP RULES § 360.2 Federal Home Loan banks as secured... regulations, the receiver of a borrower from a Federal Home Loan Bank shall recognize the priority of any...

Central banks' use in East Asia of money market instruments in the conduct of monetary policy

OpenAIRE

Robert F. Emery

1992-01-01

The paper examines the greater use in the past decade of money market instruments in the conduct of monetary policy by the central banks, or their equivalent, in six of the main East Asian developing economies. Some of these economies have been successful in using various money market instruments to control liquidity, while others have been much less successful. A common theme in the case of the successful economies has been one of employing money market instruments that have yields based on ...

Macroprudential policies on banking system

Directory of Open Access Journals (Sweden)

Ionuţ Mircea

2015-05-01

Full Text Available The macro-prudential tool kit deals with those risks that contributed to the outbreak of the last economic crisis or materialized during it, namely the excessive credit growth, the excessive price assets growth driven by the credit growth, the excessive increase in leverage, the liquidity risk, the volatile capital flows and foreign currency lending. It can be argued that macro-prudential policies underestimated the systemic risks mentioned, although they were better positioned than other policies aimed at financial stability. The impact of macro-prudential policy is difficult to be determined, because is usually applied simultaneously and in the same direction with other macroeconomic policies. Thus, it is necessary a better coordination of policies and a better calibration of instruments in order to get a quick and effective response during their implementation. These must be in line with national specificities and the risks identified. Until the new macro-prudential tools introduced by Basel III will prove their effectiveness, the issue of finding proper tools is still open.

Central Bank independence

Directory of Open Access Journals (Sweden)

Vasile DEDU

2012-08-01

Full Text Available In this paper we present the key aspects regarding central bank’s independence. Most economists consider that the factor which positively influences the efficiency of monetary policy measures is the high independence of the central bank. We determined that the National Bank of Romania (NBR has a high degree of independence. NBR has both goal and instrument independence. We also consider that the hike of NBR’s independence played an important role in the significant disinflation process, as headline inflation dropped inside the targeted band of 3% ± 1 percentage point recently.

Umbilical cord cell banking-implications for the future

International Nuclear Information System (INIS)

Gunning, Jennifer

2005-01-01

The first successful cord cell transplant to a sibling with Fanconi's anaemia took place 15 years ago. This proven utility of cord blood led to the establishment of cord blood banks both private and public and there are now nearly 100 cord blood banks worldwide. It is estimated that over 200,000 cord blood units (CBU) are held by the private sector and over 160,000 CBU are registered with the largest public cord blood registry. There is a tension between private cord blood banks, which store CBU for autologous or family use, and public banks, which store CBU for unrelated use and the ethics of private cord blood storage has been questioned. But more general ethical questions also arise regarding ownership, consent, confidentiality, costs and quality standards and patenting. In looking at these ethical issues one also needs to look at potential future use of cord blood stem cells. Up until now cord cells have principally been used in the treatment of paediatric blood and immune disorders. Improvements in cell expansion technology will make CBU more appropriate also for treating adults with such disorders. However, it has also been demonstrated that cord blood stem cells have the capacity to differentiate into other types of cells, neuronal, bone, epithelial and muscle which would have a future role to play in cell therapy and regenerative medicine

Efficiency Effects of Bank Mergers and Acquisitions

NARCIS (Netherlands)

H.P. Huizinga; J.H.M. Nelissen (Jan); R. Vander Vennet

2001-01-01

textabstractNext to technological progress and deregulation, the introduction of the euro is widely considered to be an important catalyst for bank consolidation in Europe. In order to assess the public policy issues surrounding bank mergers, this paper analyzes the efficiency effects of 52

A longitudinal study of human milk composition in the second year postpartum: implications for human milk banking.

Science.gov (United States)

Perrin, Maryanne T; Fogleman, April D; Newburg, David S; Allen, Jonathan C

2017-01-01

While the composition of human milk has been studied extensively in the first year of lactation, there is a paucity of data regarding human milk composition beyond one year postpartum. Policies vary at milk banks around the world regarding how long lactating women are eligible to donate their milk. The primary purpose of this study is to describe longitudinal changes in human milk composition in the second year postpartum to support the development of evidence based guidelines regarding how long lactating women can donate human milk to a milk bank. Nineteen lactating women in North Carolina provided monthly milk samples from 11 months to 17 months postpartum (N = 131), and two non-profit milk banks provided (N = 33) pooled, unpasteurized milk samples from 51 approved donors less than one year postpartum. There was a significant increase (P < 0.05) in the concentration of total protein, lactoferrin, lysozyme, Immunoglobulin A, oligosaccharides and sodium in longitudinal samples of mother's milk between 11 and 17 months postpartum, while zinc and calcium concentrations declined, and no changes were observed in lactose, fat, iron and potassium. Human milk in the second year postpartum contained significantly higher concentrations of total protein, lactoferrin, lysozyme and Immunoglobulin A, than milk bank samples, and significantly lower concentrations of zinc, calcium, iron and oligosaccharides. Accepting milk bank donations beyond one year postpartum is a potential strategy for increasing the supply of donor milk, but may require mineral fortification. © 2016 John Wiley & Sons Ltd.

The effects of credit policy on bank performance: Evidence from ...

African Journals Online (AJOL)

Further liberalization of financial sector has facilitated development of a capital market and non-banking financial institutions with ... Yet, the collective performance of the banking sector in helping the country to achieve its economic growth ...

Monetary transmission and bank lending in Germany

OpenAIRE

Kakes, Jan; Sturm, Jan-Egbert; Philipp Maier

1999-01-01

This paper analyses the role of bank lending in the monetary transmission process in Germany. We follow a sectoral approach by distinguishing corporate lending and household lending. We find that banks respond to a monetary contraction by adjusting their securities holdings, rather than reducing their loans portfolio. Most lending categories even show an increase following a monetary tightening. The main implication of our results is that a bank lending channel is not an important transmissio...

Ethical Issues in Transnational Eye Banking.

Science.gov (United States)

Martin, Dominique E; Kelly, Richard; Jones, Gary L A; Machin, Heather; Pollock, Graeme A

2017-02-01

To review ethical issues that may arise in the setting of transnational eye banking activities, such as when exporting or importing corneal tissue for transplantation. A principle-based normative analysis of potential common dilemmas in transnational eye banking activities was performed. Transnational activities in eye banking, like those in other fields involving procurement and use of medical products of human origin, may present a number of ethical issues for policy makers and professionals. Key ethical concerns include the potential impact of export or import activities on self-sufficiency of corneal tissue supply within exporting and importing countries; potential disclosure requirements when obtaining consent or authorization for ocular tissue donation when donations may be exported; and difficulties inherent in assuring equity in the allocation of tissues available for export and in establishing and respecting standards of safety and quality across different jurisdictions. Further analysis of specific ethical issues in eye banking is necessary to inform development of guidelines and other governance tools that will assist policy makers and professionals to support ethical practice.

Financial performance after the Spanish banking reforms: A comparative study of 19 commercial banks

Directory of Open Access Journals (Sweden)

Pison F. Irene

2014-06-01

Full Text Available A diagnostic review of the Spanish financial system during the 2008 financial crisis reveals the emergency need for banking reform in the sector. In an attempt to evaluate the impact of the Spanish reform, the present study examines the bank´s performance before/after the reform was adopted, using data of 19 Spanish commercial banks extracted from the Global Vantage research database (Standard and Poor’s over the period 2006 to 2013. This study uses multivariable regression method to investigate the impact of the CAMELS rating system: capital adequacy, asset quality, management quality, liquidity and sensitivity to market risks on the bank´s performance such as earnings efficiency. The time-line of the study is essential because it helps us to determine the financial performance of Spanish commercial banks before the banking reforms during the financial crisis and an important set in terms of mergers and acquisition in the banking industry. The empirical results have found strong and positive evidence that Capital Adequacy, Management Capacity, Liquidity and Sensitivity to Market Risk are useful predictors of banks performance (earnings efficiency, thus, any reform pilot toward this banking indicators will eventually have a positive impact on banking performance. Base on the present study, the Spanish reform was so vital for better banking performance. Therefore, this study serves not only to academics but also to policy makers

12 CFR 614.4000 - Farm Credit Banks.

Science.gov (United States)

2010-01-01

... make, provided the borrower eligibility, membership, term, amount, loan security, and stock or... Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Lending... the requirements in § 614.4200 of this part, to make real estate mortgage loans with maturities of not...

Do Cooperative Banks Really Serve Agricultural Sector in Poland?

OpenAIRE

Zawojska, Aldona; Siudek, Tomasz

2005-01-01

The aim of the paper is to assess the potential of cooperative banks for serving agricultural sector in Poland and to identify the areas with the most development potential. We discuss the transformation process in the cooperative banking system under market economy, and in particular investigate importance of cooperative banks for farms' financing on the basis of our survey of banks. Moreover, the role of cooperative banks in transmission of Government policy supporting farm sector in Poland...

From CSR to Customer Loyalty: An Empirical Investigation in the Retail Banking Industry of a Developing Country

Directory of Open Access Journals (Sweden)

Moisescu Ovidiu-Ioan

2017-10-01

Full Text Available The objective of the current paper is to investigate the impact of customers’ perceptions of their service providers’ corporate social responsibility (CSR on customer loyalty, bringing relevant and useful insights regarding the nature of this relationship in the retail banking industry, and in the particular context of a developing country. The objective was accomplished by planning and implementing a consumer survey among a sample of 1449 Romanian retail banking customers, using an item-pool drawn up from the literature. The observed variables were grouped into several reflective latent variables, and afterwards included into a multiple regression model. The results indicate that customers’ loyalty towards retail banking companies is significantly and positively impacted by how customers perceive their providers’ CSR. Moreover, analyzing each category of responsibilities individually, banks’ responsibility towards their customers can be emphasized as being the most important dimension in our research context. The results convey practical implications for customer loyalty enhancement in a European developing country’s retail banking industry, by identifying those CSR dimensions on which organizations should focus on within their CSR policies implementation and communication.

Evaluation of a market in wetland credits: entrepreneurial wetland banking in Chicago.

Science.gov (United States)

Robertson, Morgan; Hayden, Nicholas

2008-06-01

With the rise of market-led approaches to environmental policy, compensation for permitted discharge of dredge or fill material into wetlands under Section 404 of the U.S. Clean Water Act has been purchased increasingly from entrepreneurial third-party providers. The growth of this practice (i.e., entrepreneurial wetland banking) has resolved many challenges associated with wetland compensation. But it has also produced (1) quantifiable temporal loss of wetland ecological functions, (2) spatial redistribution of wetland area, and (3) a degree of regulatory instability that may pose a threat to entrepreneurial compensation as a sustainable component of wetland-compensation policy. We used achieved compensation ratios, lapse between bank credit sale and the attainment of performance standards, distance between impact and bank site, and changes in bank market area to examine these 3 factors. We analyzed data from a census of all such transactions in the Chicago District of the U.S. Army Corps of Engineers, compiled from site visits, Corps databases, and contacts with consultants and Section 404 permittees. Entrepreneurial banking provided compensation at a lower overall ratio than nonbank forms of compensation. Approximately 60% of bank credits were sold after site-protection standards were met but before ecological performance standards were met at the bank site. The average distance between bank and impact site was approximately 26 km. The area of markets within which established banks can sell wetland credits has fluctuated considerably over the study period. Comparing these data with similar data for other compensation mechanisms will assist in evaluating banking as an element of conservation policy. Data characterizing the performance of entrepreneurial wetland banks in actual regulatory environments are scarce, even though it is the most established of similar markets that have become instrumental to federal policy in administering several major environmental

Does Corporate Income Taxation Affect Securitization? Evidence from OECD Banks

NARCIS (Netherlands)

Gong, D.; Ligthart, J.E.

2013-01-01

Abstract: Corporate income taxation, by affecting the after-tax cost of funding, has implications for a bank's incentive to securitize. Using a sample of OECD banks over the period 1999-2006, we fi nd that corporate income taxation led to more securitization at banks that are constrained in funding

The effectiveness of policy interventions in CEE countries

Directory of Open Access Journals (Sweden)

Alin-Marius ANDRIEȘ

2016-06-01

Full Text Available This paper assesses the effectiveness of intervention measures adopted by central authorities during 2005-2012 in CEE. We investigate their impact on bank stability in 15 countries from CEE using bank-level data and OLS estimation method. The bank stability is proxied by the natural logarithm of the Z-Score and the non-performing loans to gross loans ratio. Empirical findings suggest that interest rates cuts, as well as domestic and foreign liquidity injections have a significant impact on bank stability in Emerging Europe. Moreover, their effectiveness differs according to several bank characteristics. Policy measures adopted by CEE countries significantly reduced the stability of domestic banks, but increased the stability of banks with a lower level of capitalization. The impact on the Z–score of banking system liquidity policy measures and the policy interest rates cuts is significantly lower in the case of domestic banks, amplified for less-capitalized banks (except for the category regarding banks’ solvency, while their impact on large banks remains statistically insignificant.

Efficiency, Customers' Satisfaction and Deposit Money Banks' Performance in Nigeria

Directory of Open Access Journals (Sweden)

Powel Maxwell Worimegbe

2018-03-01

Full Text Available Aim/purpose - The study seeks to explore the technical efficiency of Nigerian banks using production approach and; to establish the relationship that exists between technical efficiency, customers' satisfaction and bank performance in the face of a volatile economy. Design/methodology/approach - Data used in achieving the research objectives were from both primary and secondary sources. The Data Envelopment Analysis (DEA and Structural Equation Model (SEM were employed in the analysis of data. 600 hundred questionnaires from 18 deposit money banks. Findings - The study reveals that technical efficiency leads to customers' satisfaction. The findings also show that customers' satisfaction affects bank performance. Further- more, efficiency influences banks' financial performance and this indicates that banks that pursue improved financial performance using a singular approach may be fundamentally misguided. Research implications/limitations - The study has important implications because it suggests that Deposit Money Banks should concentrate effort firstly on efficiency before customers' satisfaction. Bank managers should also seek better way of meeting customers need thereby increasing their customers' satisfaction and increasing bank financial performance. The study is limited in scope since it does not look at other approaches in measuring bank efficiency; further studies should consider using intermediation, user-cost, asset, modern and value-added model approaches in measuring bank efficiency. Originality/value/contribution - The study focuses solely on deposit money banks in Nigeria and empirically analyses the effect of efficiency, customers' satisfaction on financial performance of deposit money banks in Nigeria(original abstract

Determinants of Self-Employment Dynamics and their Implications on Entrepreneurial Policy Effectiveness

Directory of Open Access Journals (Sweden)

José María Millán

2010-07-01

Full Text Available This paper summarizes the main results of the empirical research on self-employment dynamics —particularly entry and success— and discusses their possible implications on entrepreneurial policy effectiveness. The main goal of this study is to promote a debate on this topic, encouraging conditional analyses that serve as guidance in the design of a policy agenda.

The European Central Bank : Independence, accountability and strategy: A review

NARCIS (Netherlands)

De Haan, J

1997-01-01

This paper reviews research on central banking and monetary policy, with special emphasis on the position of the future European Central Bank. Nowadays, it is often thought that an independent central bank with an explicit mandate to aim for price stability constitutes an important institutional

Banking sector globalization and bank performance: A comparative analysis of low income countries with emerging markets and advanced economies

Directory of Open Access Journals (Sweden)

Amit Ghosh

2016-06-01

Full Text Available A key feature of financial services liberalization is the increasing presence of foreign banks in a nation. This study examines the impact of banking sector globalization on bank profits and cost efficiency by using a panel of 169 nations spanning 1998–2013. Employing both fixed-effects and GMM estimations, and including banking-industry and macroeconomic controls, I find greater banking-sector globalization to reduce both profits and cost inefficiency, thereby reflecting increased competitiveness and informational asymmetries in host markets, as well as assimilation of better technology, managerial practices by domestic banks. The results are further examined for nations across different levels of economic development and with different degrees of foreign bank presence. Only in emerging markets and in nations with more than 50% foreign banks, greater banking sector globalization positively affects profits. From a policy perspective, the findings call for banking regulatory authorities to implement polices to reduce informational asymmetries in host markets.

12 CFR 615.5180 - Interest rate risk management by banks-general.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Interest rate risk management by banks-general... FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Risk Assessment and Management § 615.5180 Interest rate risk management by banks—general. The board of directors of each Farm Credit Bank...

Evaluating Nigeria Cashless Policy Implementation

Directory of Open Access Journals (Sweden)

Kket Eko Ewa

2016-06-01

Full Text Available The Central Bank of Nigeria introduced cashless policy initiative to accomplish two main macro-socio-economic policy objectives of increased convenience and greater financial inclusion in Nigeria. This study evaluates Nigeria cashless policy implementation using a four point Likert scale questionnaire administered to six hundred respondents. The results of the study show that the twin policy objectives investigated were partially achieved. Also the study reveals that social infrastructures in power and telecommunications need improvement and expansion and the need to create more awareness to encourage the unbanked to embrace banking culture. This study recommends vigorous investments on cyber security, strengthening of internet protocol and controls in the banks and enactment of relevant legislative laws to curb cybercrimes.

12 CFR 614.4357 - Banks for cooperatives look-through notes.

Science.gov (United States)

2010-01-01

....4357 Section 614.4357 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND... endorsement or unconditional guarantee by the borrower; (b) The bank determines the financial condition, repayment capacity, and other credit factors of the loan to the original maker reasonably justify the credit...

Categorizing the telehealth policy response of countries and their implications for complementarity of telehealth policy.

Science.gov (United States)

Varghese, Sunil; Scott, Richard E

2004-01-01

Developing countries are exploring the role of telehealth to overcome the challenges of providing adequate health care services. However, this process faces disparities, and no complementarity in telehealth policy development. Telehealth has the potential to transcend geopolitical boundaries, yet telehealth policy developed in one jurisdiction may hamper applications in another. Understanding such policy complexities is essential for telehealth to realize its full global potential. This study investigated 12 East Asian countries that may represent a microcosm of the world, to determine if the telehealth policy response of countries could be categorized, and whether any implications could be identified for the development of complementary telehealth policy. The countries were Cambodia, China, Hong Kong, Indonesia, Japan, Malaysia, Myanmar, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Three categories of country response were identified in regard to national policy support and development. The first category was "None" (Cambodia, Myanmar, and Vietnam) where international partners, driven by humanitarian concerns, lead telehealth activity. The second category was "Proactive" (China, Indonesia, Malaysia, Singapore, South Korea, Taiwan, and Thailand) where national policies were designed with the view that telehealth initiatives are a component of larger development objectives. The third was "Reactive" (Hong Kong and Japan), where policies were only proffered after telehealth activities were sustainable. It is concluded that although complementarity of telehealth policy development is not occurring, increased interjurisdictional telehealth activity, regional clusters, and concerted and coordinated effort amongst researchers, practitioners, and policy makers may alter this trend.

12 CFR 347.214 - Branch established under section 5 of the International Banking Act.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Branch established under section 5 of the International Banking Act. 347.214 Section 347.214 Banks and Banking FEDERAL DEPOSIT INSURANCE CORPORATION REGULATIONS AND STATEMENTS OF GENERAL POLICY INTERNATIONAL BANKING Foreign Banks § 347.214 Branch established...

To assess the investment policy and investment activity of banks of Russia

OpenAIRE

Mandron V.; Buzaeva O.

2016-01-01

A priority to increase the profits of banks is investment operations in the stock market. Investment banking includes activities on raising capital using capital market instruments with the objective of capital appreciation. The article describes the investment objectives of the banks to improve their profitability, financial stability and enhance the effectiveness of the whole. The basic tools that enable banks to achieve the relevant objectives: profit, risk diversification, the maintenance...

U.S.Stock Market Crashes and Their Aftermath: Implications for Monetary Policy

OpenAIRE

Eugene White; Frederic Mishkin

2002-01-01

This paper examines fifteen historical episodes of stock market crashes and their aftermath in the United States over the last one hundred years. Our basic conclusion from studying these episodes is that financial instability is the key problem facing monetary policy makers and not stock market crashes, even if they reflect the possible bursting of a bubble. With a focus on financial stability rather than the stock market, the response of central banks to stock market fluctuations is more lik...

Energy policy in China: implications for global climate change

Energy Technology Data Exchange (ETDEWEB)

ZhongXiang Zhang [University of Groningen, Groningen (Netherlands)

1998-12-31

This is the first systematic and comprehensive analysis of the economic implications of carbon abatement for the Chinese economy. It evaluates the economics of climate change and provides national, cost-effective policies for climate change. The book consists of three main parts, firstly, an analysis of the Chinese energy system to increase awareness of the implications of this sector for China`s future carbon dioxide emissions, secondly, a macroeconomic analysis of carbon dioxide emissions limits using a newly-developed computable general equilibrium model of the Chinese economy; and finally, a cost-effective analysis of carbon abatement options by means of a technology-oriented dynamic optimization model.

Test of the Bank Lending Channel: The Case of Poland

Directory of Open Access Journals (Sweden)

Yu HSING

2013-11-01

Full Text Available This paper tests the bank lending channel for Poland based on a simultaneousequation model consisting of demand for and supply of bank loans. The three-stage least squares method is employed in empirical work. This paper finds support for a bank lending channel for Poland. Expansionary monetary policy through a lower money market rate or open market purchase of government bonds to increase bank reserves/deposits would increase bank loan supply.

Implications of DSM-5 for Health Care Organizations and Mental Health Policy.

Science.gov (United States)

Castillo, Richard J; Guo, Kristina L

2016-01-01

The American Psychiatric Association (APA) has made major changes in the way mental illness is conceptualized, assessed, and diagnosed in its new diagnostic manual, the Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition (DSM-5), published in 2013, and has far reaching implications for health care organizations and mental health policy. This paper reviews the four new principles in DSM-5: 1) A spectrum (also called "dimensional") approach to the definition of mental illness; 2) recognition of the role played by environmental risk factors related to stress and trauma in predisposing, precipitating, and perpetuating mental illness; 3) cultural relativism in diagnosis and treatment of mental illness; and 4) recognizing the adverse effects of psychiatric medications on patients. Each of these four principles will be addressed in detail. In addition, four major implications for health care organizations and mental health policy are identified as: 1) prevention; 2) client-centered psychiatry; 3) mental health workers retraining; and 4) medical insurance reform. We conclude that DSM- 5's new approach to diagnosis and treatment of mental illness will have profound implications for health care organizations and mental health policy, indicating a greater emphasis on prevention and cure rather than long-term management of symptoms.

12 CFR 563.161 - Management and financial policies.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Management and financial policies. 563.161... ASSOCIATIONS-OPERATIONS Financial Management Policies § 563.161 Management and financial policies. (a)(1) For... corporation must be well managed and operate safely and soundly. Each also must pursue financial policies that...

Some evidence on the relevance of bank behaviour for the lending channel in the Netherlands

NARCIS (Netherlands)

van Ees, H.; Sterken, E.; Garretsen, Harry

This paper studies the behaviour of Dutch banks. We test the adjustment of banks' balance sheets in times of monetary policy changes during the period 1957-1991. As a reaction to a policy change, banks basically have two alternatives to adjust their net money creation: (1) sell securities in public

Oceanic implications for climate change policy

International Nuclear Information System (INIS)

McNeil, Ben I.

2006-01-01

Under the United Nations convention on the law of the sea (1982), each participating country maintains exclusive economic and environmental rights within the oceanic region extending 200 nm from its territorial sea, known as the exclusive economic zone (EEZ). Although the ocean within each EEZ is undoubtedly an anthropogenic CO 2 sink, it has been over-looked within international climate policy. In this paper I use an area-weighted scaling argument to show that the inclusion of the EEZ CO 2 sink within national carbon accounts would have significant implications in tracking national greenhouse commitments to any future climate change policy initiative. The advantages and disadvantages for inclusion of the EEZ CO 2 sink into global climate change policy are also explored. The most compelling argument for including the EEZ CO 2 sink is that it would enhance the equity and resources among coastal nations to combat and adapt against future climate change that will inherently impact coastal nations more so than land locked nations. If included, the funds raised could be used for either monitoring or adaptive coastal infrastructure among the most vulnerable nations. On the other hand, the EEZ anthropogenic CO 2 sink cannot be directly controlled by human activities and could be used as a disincentive for some developed nations to reduce fossil-fuel related greenhouse gas emissions. This may therefore dampen efforts to ultimately reduce atmospheric greenhouse gas concentrations. In consideration of these arguments it is therefore suggested that an 'EEZ clause' be added to Kyoto and any future international climate policy that explicitly excludes its use within national carbon accounts under these international climate frameworks

Bank Liquidity, Interbank Markets, and Monetary Policy

NARCIS (Netherlands)

Freixas, X.; Martin, A.; Skeie, D.

2010-01-01

A major lesson of the recent financial crisis is that the interbank lending market is crucial for banks facing large uncertainty regarding their liquidity needs. This paper studies the efficiency of the interbank lending market in allocating funds. We consider two different types of liquidity shocks

Bank Activity and Funding Strategies : The Impact on Risk and Return

NARCIS (Netherlands)

Demirgüc-Kunt, A.; Huizinga, H.P.

2009-01-01

This paper examines the implications of bank activity and short-term funding strategies for bank risk and return using an international sample of 1334 banks in 101 countries leading up to the 2007 financial crisis. Expansion into non-interest income generating activities such as trading increases

ANALYSIS OF HOW YOU MANAGE RISK IN THE BANK BANCPOST S.A.

Directory of Open Access Journals (Sweden)

Rodica Pripoaie

2008-05-01

Full Text Available Risk management within Bancpost is a decentralized process guided by policies andprocedures laid down centrally. Within the bank there are five major organizational groups involved inthe process of risk management. These groups are responsible for defining, implementing and / orrevision of policies, regulations and procedures for risk management of the bank:1. Board of Directors;2. Executive Committee and heads of bank;3. The Risk Management;4. Internal Audit;5. Business units (branches, agencies, working points.

Consumer energy management: policy implications of research. 2 Vols

Energy Technology Data Exchange (ETDEWEB)

McDougall, G.H.G.; Ritchie, J.R.B.

1982-12-01

This report provides a framework for understanding the practical implications of consumer energy conservation research in Canada. A review of such research was undertaken to determine its implications for increasing the effectiveness of Canadian conservation policies and programs. The major conclusions and recommendations were as follows. Conservation has been acknowledged as the single most important element in solving Canada's petroleum shortfall in the 1980s. An analytic approach to the formulation of energy policies and the design of conservation programs will be essential if meaningful energy savings in the consumer sector are to be realized. Prior to designing any conservation program, it is essential that the components of consumer energy policy be understood. In order to assess the effectiveness of conservation efforts, it is necessary to assign relative priorities to the criteria of probable energy savings, cost effectiveness, impact by fuel type, impact on consumers, enforceability, and institutional considerations. Conservation efforts aimed at consumers must be based on understanding the basic processes which underlie how they perceive and respond to various types of conservation initiatives. This understanding is gained through consumer impact analysis and program research. The latter action attempts to analyze the effectiveness and acceptability of programs involving information, financial incentives, energy standards, and energy usage restrictions. Conservation programs must ensure that barriers to adoption, such as lack of time and knowledge, financial resources, and lifestyle impacts, will be minimized. 93 refs., 3 figs., 13 tabs.

Tendencies of introduction of bank innovations in Ukraine

Directory of Open Access Journals (Sweden)

O.L. Cherevko

2016-09-01

Full Text Available This article is dedicated to the identification of improvement features of the banking system, and trends of innovative introduction of banking services in Ukraine. The diagram of changes is presented with the number of active banks in the country showing the importance of innovative development. The strategic and operational goals of innovative development in the banking system are examined. The paper marks out the main factors which determine the necessity to use the innovative technologies by banks. The authors determine three components of innovative activity in the banking sector, examine its priority in practical terms for the development of bank innovations in Ukraine. The importance of the introduction of Internet banking with its benefits for the customer and for the banking system as a whole is shown. The article gives the rating of five the most innovative banks in the country and describes the innovative policy of each one. The need for a comprehensive improvement of banking innovation is emphasized.

The policy implications of the different interpretations of the cost-effectiveness of renewable electricity support

International Nuclear Information System (INIS)

Río, Pablo del; Cerdá, Emilio

2014-01-01

The cost-effectiveness of support for renewable electricity is a main criterion to assess the success of policy instruments, together with effectiveness. The costs of support are also a source of significant concern for governments all over the world. However, significant confusion exists in the literature on the cost-effectiveness of public support for renewable electricity. While some authors define the concept of cost-effectiveness as that which complies with the equimarginality principle, many others, including documents from relevant organisations (European Commission, International Energy Agency, Intergovernmental Panel on Climate Change) define it as “the lowest costs of support”, generally equating it with the minimisation of consumer costs. The aim of this paper is to clarify the differences between both approaches and their policy implications regarding the choice of instruments and design elements. It is shown that they partly overlap and that their policy implications clearly differ, leading to very different policy prescriptions. While the former favours technology neutral instruments and design elements, the “minimisation of consumer costs” approach favours instruments and design elements which adjust support levels to the costs of the technologies. - Highlights: • Significant confusion exists in the literature on the cost-effectiveness of public support for renewable electricity. • Clarify the differences between two main approaches to cost-effectiveness. • Policy implications clearly differ, leading to very different policy prescriptions

PATHWAYS TO SUSTAINABLE BANKING MANAGEMENT

Directory of Open Access Journals (Sweden)

Dragan (Santamarian Oana Raluca

2012-12-01

Full Text Available This paper describes one of the major challenges of the future: the sustainable development of the society. Sustainability is now increasingly recognized as central to the growth of emerging market economies. For the banking sector, this represents both a demand for greater social and environmental responsibility as well as a new landscape of business opportunity. Several years ago, the main part of the banks did not consider the social and environmental problems relevant for their operations. Recently, the banks began to realize the major impact of the sustainable development over the way of ulterior development of the society and, implicitly over the way of creating of the banking value in the future. In this context, the development of a banking management system, based on sustainable principles represents one of the provocations of these days.Starting from literature in the sustainable banking management field in this paper are presented several relevant issues related to risk management in the context of sustainable banking financing: the need to implement the sustainable management principles in financial and banking industry; the role of banks in sustainable development of society; social and environmental risk management policies, events that have shaped the role of the banking sector in sustainable development; international standards regarding sustainable banking management such us: Equator Principles for sustainable investment projects’ financing or GRI principles for sustainable reporting. Furthermore, we developed a practical case study related to the implementation of sustainable banking management at Bank of America.

Comparison of the Performance of SOEs Banks and Private Banks and its Influece to the Stock Prices

Directory of Open Access Journals (Sweden)

Husnul Insan

2017-09-01

Full Text Available Banking industry is one of the industries which show the presence of tight competition. The competition itself can be seen from the number of banks which operates in Indonesia in 2014, that is 119 banks. The aim of doing this research is to analyze the different financial performances between Significant effect on the level of 5% and Private banks, and also to analyze the variable influence of bank finance performances to the stock price. The analyzing method which will be used on this research is radar and regression analyzing graphic illustration techniques. The result of this research shows that financial performances of SEOs Banks is better than Private Banks according to the profitability, productivity, and growth potential aspect, while on the aspect of liquidity, private banks has a better performance than SOEs banks. In terms of solvability, both banks have the same financial performances. According to the regression analysis, it is known that the bank financial performance on CAS and NIM variable has a positive and significant influence to the stock prices, while on LDR, CRR, CAR, DRR, and ROA variables they have a negative and significant influence to the stock prices. This shows that the investors have made those variables as a benchmark in their investing policies and they tend to pursue the stocks from SOEs banks rather than private banks, because generally SOEs banks have a better financial performance than private banks.Keywords: regression analysis, bank, stock prices, financial performances, radar method

Committee Structure and its Implications for Monetary Policy Decision-making

NARCIS (Netherlands)

J.M. Berk (Jan Marc); B.K. Bierut

2003-01-01

textabstractWe investigate the implications for the setting of interest rates when monetary policy decisions are taken by a committee, in which a subset of members may meet prior to the voting in the committee and therefore has the possibility to reach consensus ex ante to vote unanimously ex post.

Committee structure and its implications for monetary policy decision-making

NARCIS (Netherlands)

Bierut, B.K.; Berk, J.M.

2003-01-01

We investigate the implications for the setting of interest rates when monetary policy decisions are taken by a committee, in which a subset of membersmay meet prior to the voting in the committee and therefore has the possibility to reach consensus ex ante to vote unanimously ex post. We allow

12 CFR 602.17 - Policy.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Policy. 602.17 Section 602.17 Banks and Banking... produce documents. This subpart does not affect access to documents under the FOIA or the Privacy Act. See... this subpart remain our property. Any employee having information or privileged documents may disclose...

THE ACTIVITIES OF THE NATIONAL BANK OF UKRAINE ON THE OPEN MARKET: OPERATION WITH CERTIFICATES OF DEPOSITS

Directory of Open Access Journals (Sweden)

Yuliia Harkusha

2016-06-01

Full Text Available In the article investigated the activities of the National Bank of Ukraine on the open market. The analysis of operations of the National Bank of Ukraine banks to raise funds placing deposit certificates. Defined impact operations of the central bank's own debt securities to trading volumes deposit certificates of the National Bank of Ukraine on the stock market and the credit activity of banks. Identified problems interest rate policy and the ways to overcome them. Key words: National Bank of Ukraine, certificates of deposits, open market, interest rate policy, banks, stock exchange. JEL: E 58

Securities and banking: bridges and walls

Directory of Open Access Journals (Sweden)

Tommaso Padoa-Schioppa

2002-09-01

Full Text Available The paper examines the relationship between banking and securities activities in the light of financial market developments (securitisation, institutionalization of investment, emergence of complex financial instruments, conglomeration and consolidation, with particular reference to Europe. The enhanced links between banking and securitiesbusinesses have generated increased and new risks to financial institutions. However, banks' stability remains crucial for the stability of the financial system as a whole, because of their unique role as provider of liquidity. The paper also addresses the implications of the banking-securities combination for regulatory and supervisory arrangements. The exporting of prudential requirements traditional in banking (such as capital ratios into the securities field, and the importing of securities regulation (such as transparency requirements into the banking sector, can be deemed mutually beneficial. As regards supervision, there is a need to monitor the continued effectiveness of the current framework. This entails strengthening co-operation both at the national level and on a cross-border basis among sectoral supervisors in the micro-prudential field, and between them and central banks in the macro-prudential field.

CENTRAL BANKING IN THE NEW ERA

Directory of Open Access Journals (Sweden)

Bilal Bagis

2017-12-01

Full Text Available This paper analyzes the evolution of central banking, and in particular the American experience of central banking. It provides projections for the future of central banking in the new era of post 2008. The paper initially demonstrates recent improvements in the financial and banking sectors, regulations and different measures of monetary and financial rules both in the USA and the rest of the advanced economies. Then, it claims institutions, such as central banks, will gain new objectives and more significance in this new era and thus will be given new roles, over time and along with the improvements and deepening in the financial system. The paper argues centuries long central bank evolution is not complete yet and that more objectives should be expected to come forward. In that line, there is need for a shift in the conventional policy measures. New trends in central banking such as the helicopter money, popular nominal GDP targeting regime and the retro developmental central banking are all critically analyzed. The paper provides a breakdown of financial development and central banking activities in a historical context and provides a rationale and a new basis for possible future innovations.

CENTRAL BANK INDEPENDENCY ON THE DEVELOPMENT OF THE FINANCIAL SECTOR. A CASE OF RESERVE BANK OF ZIMBABWE (1998-2008

Directory of Open Access Journals (Sweden)

KOSMAS NJANIKE

2010-01-01

Full Text Available The study looks deeper in the relationship between central bank independence and Gross Domestic product growth and other economic variables which are indicative of improved performance with specific reference to a developing economy. It seeks to find out how the central bank policies affected the state of development of the financial sector and the extent to which the banking sector influenced economic development in the economy. The research also aims to find out how the government affected or influenced the state of development of the financial sector in the country. It was found that the government was sorely dependent on central bank financing as a matter of survival due to limited sources of finance as GDP decline meant a reduction tax revenue base. Rising inflation and contracting real incomes put pressure on the fiscal budget. Questionnaires, interviews and document review were used to obtain information for the study. It was concluded that the cohesion between fiscal and monetary policy is of paramount importance; and there was need for a high degree of formal instrument independence.

Mexico's petroleum and US policy: implications for the 1980s

Energy Technology Data Exchange (ETDEWEB)

Ronfeldt, D.; Nehring, R.; Gandara, A.

1980-06-01

This report examines selected factor affecting Mexico's future petroleum policies, and then assesses various implications of Mexico's petroleum for US interests and policies. After a brief introduction, the report is divided into three sections. The first offers a detailed analysis of Mexico's petroleum resources and production possibilities. The second considers petroleum as a symbolic issue of profound significance for Mexican nationalism. The final section provides an assessment of these and other factors for US interests, objectives, and policy options during the 1980s.

Bank Funding Structures and Risk; Evidence From the Global Financial Crisis

OpenAIRE

Pablo Federico; Francisco F. Vazquez

2012-01-01

This paper analyzes the evolution of bank funding structures in the run up to the global financial crisis and studies the implications for financial stability, exploiting a bank-level dataset that covers about 11,000 banks in the U.S. and Europe during 2001?09. The results show that banks with weaker structural liquidity and higher leverage in the pre-crisis period were more likely to fail afterward. The likelihood of bank failure also increases with bank risk-taking. In the cross-section, th...

12 CFR 403.1 - General policies and definitions.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false General policies and definitions. 403.1 Section 403.1 Banks and Banking EXPORT-IMPORT BANK OF THE UNITED STATES CLASSIFICATION, DECLASSIFICATION, AND... the Export-Import Bank (the Bank) implements executive orders which govern the classification...

IMPLIKASI PROSES TAKE-OVER BANK SWASTA NASIONAL GO PUBLIC TERHADAP TINGKAT KESEHATAN DAN KINERJA BANK

Directory of Open Access Journals (Sweden)

Sri Mintarti

2017-03-01

Full Text Available The purpose of this research was to know the implication process of take-over inNational Private Banks to the degree of banks’ health and performance. The samples were 5national private banks which had asset more than 20 trillion and the structure of foreignownership was above 51%. Independent variable used was ratio CAEL consisted of CAR, LDR,BOPO, and NPL while dependent variable used was ROA. By using multiple regression analysis,it was found that CAR, BOPO, LDR and NPL simultaneously had an influence to ROA, while onthe whole the result of bank’s health degree in 5 national private banks which did take overusing CAEL method showed relative good performance.

BANKING SECTOR DEVELOPMENT AND ECONOMIC GROWTH INPALESTINE; 1995-2014

Directory of Open Access Journals (Sweden)

Gaber H. Abugamea

2016-07-01

Full Text Available This study uses both OLS regression estimation and Granger Causality test toinvestigate the relationship between the banking sector development andeconomic growth in Palestine over the period 1995-2014.OLS results show asignificant impact of banking size with a negative sign, insignificant impact ofcredit lending with a marginal one for lag credit andinsignificant impact ofefficiency on economic growth, respectively.Granger Causality testresultsshowone way causality runningfrom banking size to(GDPeconomic growthandfrom banking efficiency to(GDP per capitaeconomic growth one. Overall resultsreveals a weak nexus between banking sector development and economic growth.In specific, it recommends more improving in banking lending policy to beeffective in promoting economic growth.

Customer satisfaction with retail banking services in Ghana

DEFF Research Database (Denmark)

Narteh, Bedman; Kuada, John

2014-01-01

This article reports a study of the determinants of customer satisfaction of retail banking services in Ghana and discusses the strategic implications of the findings for the retail banks. We reviewed the extant literature to identify theoretical determinants of customer satisfaction in retail......, core and tangible dimensions of service to be the major determinants of customer satisfaction in retail banking in Ghana. Technology also loaded onto the core and tangible dimensions of service quality...... banking and their measurement scales. These were adapted to build a conceptual framework for the empirical investigation conducted. Data were collected using a questionnaire administered through personal interviews to 650 customers of retail banks and the results were factor analysed. We found relational...

The Trade Off Between Central Bank Independence and Conservativeness

NARCIS (Netherlands)

Eijffinger, S.C.W.; Hoeberichts, M.M.

1996-01-01

This paper introduces a parameter for central bank independence in a monetary policy game with a conservative central banker.It tries to explain the optimal degree of central bank independence and conservativeness by four economic and political determinants, both theoretically and empirically.There

World Bank policy research : a historical overview

OpenAIRE

Dethier, Jean-Jacques

2009-01-01

The World Bank is a leading intellectual institution on development. It is a world leader in analytical studies in areas including poverty measurement, delivery of social services, impact evaluation, measurement of development outcomes, international trade and migration. It is also a leader in development data, including the Living Standard Measurement Surveys; the enterprise surveys, and...

THE CLIENTS’ DEGREE OF CREDIBILITY AND TRUSTABILITY IN THE BANKING SECTOR OF THE REPUBLIC OF MOLDOVA UNDER THE CONDITIONS OF THE BANK FAILURES

Directory of Open Access Journals (Sweden)

Stela CIOBU

2016-06-01

Full Text Available The number of banks which face problems (besides the three banks that have become bankrupt has increased making the clients to worry about their money held in banks. The main is that not all the banking sector is facing instability; some banks register good results and have a competitive and stable position on the market. With all these, due to the bad rumours, people lost credibility and loyalty. The created bad reputation of the banking sector should be broken by implementing new and more suitable policies, new strategies oriented towards clients’ satisfaction and realization. The banks’ main mission is to make people to believe in them as usually.

Developing Islamic Banking Performance Measures Based on Maqasid Al-Shari’ah Framework: Cases of 24 Selected Banks

Directory of Open Access Journals (Sweden)

Mustafa Omar Mohammed

2015-08-01

Full Text Available Islamic banking has achieved remarkable growth that has surpassed the growth of the conventional banking system. Yet, studies show that the performances of Islamic banks (IBs seem to be trailing behind the conventional banks (CBs. Is the poor performance of IBs the result of mismatch between their objectives and their performance measurement criteria or it is a reflection of their true performances? The objectives of Islamic banking had not been formally addressed. Mustafa and Taib (2009 derived the objectives of Islamic banking from Abu Zahara’s theory of the objectives of Shari’ah (Maqasid al-Shari’ah and, based on these Shari’ah objectives, developed a model of Islamic banking performance measures. They named it as Performance Measures based on Maqasid al-Shari’ah framework or the PMMS model. This paper has tested the PMMS model on a sample 24 banks (12 IBs and 12 CBs. The twenty four banks were also evaluated using the traditional conventional financial measures. Mann-Whitney U-Test results show IBs faring well in their performances when measured using the PMMS model than when they are measured using the conventional banking performance yardstick. Policy prescriptions and recommendations for further studies are provided at the concluding section of the paper.

OPEN MARKETING - A SPECIFIC FORM OF MONETARY POLICY IN ORDER TO MONETARY VOLUME ADJUSTMENT

Directory of Open Access Journals (Sweden)

CHIRTOC IRINA- ELENA

2013-02-01

Full Text Available : Applying a uniform monetary policy by all European Union member states also require harmonization of monetary policy instruments and national interbank market integration also. Monetary policy instruments used by NBR (National Bank of Romania have evolved over time as a result of alignment with the instruments used by the European Central Bank. Money market operations in Romania have appeared for the first time in 1997. Starting from the wishing of Central Bank to reduce excess liquidity in 2001 they became the most important monetary policy tool used by the National Bank of Rumania. Open market operations are the instrument of monetary policy, central banking in Eastern Europe to work towards monetary contraction or expansion. Open-market operations in recent years have become the most important monetary policy instrument they play an essential role in promoting monetary policy by the central bank. Through open marketing operations the monetary authorities aim to alter bank reserves and thereby influence the amount of currency in circulation. In Romania, the open marketing operations are initiated by the National Bank of Romania, which determines what type of tools will be used while setting terms and conditions of the implementation. Through the use and control of monetary policy instruments, the central bank as the state bank seeks managing liquidity in the economy.

Macroeconomic policy interaction: State dependency and implications for financial stability in UK: A systemic review

Directory of Open Access Journals (Sweden)

Muhammad Ali Nasir

2016-12-01

Full Text Available The association between economic and financial stabilities and influence of macroeconomic policies on the financial sector creates scope of active policy role in financial stability. As a contribution to the existing body of knowledge, this study has analysed the implications of macroeconomic policy interaction/coordination for financial stability, proxied by financial assets, i.e. equity and bonds price oscillation. The critical review and analysis of the existing literature on the subject suggests that there is also ample evidence of interdependence between monetary and fiscal policies and this interrelation necessitates coordination between them for the sake of financial stability. There is also a case for analysing the symmetry of financial markets responses to macroeconomic policy interaction. On methodological and empirical grounds, it is vital to test the robustness of policy recommendations to overcome the limitation of a single empirical approach (Jeffrey–Lindley’s paradox. Hence, the Frequentist and Bayesian approaches should be used in commentary manner. The policy interaction and optimal policy combination should also be analysed in the context of institutional design and major financial events to gain insight into the implications of policy interaction in the periods of stable economic and financial environments as well as period of financial and economic distress.

THE IMPACT OF FINANCIAL LIBERALIZATION ON ROMANIAN BANKING SYSTEM EFFICIENCY

Directory of Open Access Journals (Sweden)

Ciupac-Ulici Maria-Lenuta

2013-07-01

Full Text Available In the last three decades, many emerging countries have moved away from a system of restrictive monetary and financial controls to a more liberalized financial sector. The restrictive imposed policies were expected to contribute to industrialization of the economy and to the stability of the banking sector. However, financial liberalization had big costs on the banking system's competitiveness and efficiency. Financial liberalization has a different impact on banking markets. Thus, there is no size that fits all policies concerning banking liberalization process. For highly efficient banks, competition is improving their efficiency standard, while less efficient banks can`t compete with foreign banks and further are decreasing in efficiency or are driven out of the market. Overall, the average efficiency of domestic banking markets should be an important variable in deciding to open up their banking market. Banks that are operating close to the frontier, in general are improving their efficiency following financial liberalization process. Banks that are operating in a further distance can`t manage to compete with foreign market entrants, so, they are losing from liberalization process. In this article we propose to measure the impact of financial liberalization process on Romanian banking system. We used the panel regression to study the informational efficiency of three Romanian banks during 2004 - 2012. The dependent variable of the model was the price of stock bank, and the independent variables were the financial indicators (return on equity, return on assets, net profit margin. In the second regression we introduce a dummy variable for crisis period. Our results show that the financial indicators choose do not affect the efficiency of Romanian bank, but the crisis had a negative impact on them. International context, credit risk, the implementation of Basel III and reducing exposures in the absence of investment alternatives remains key

Coping with poverty in international assistance policy: an evaluation of spatially integrated investment strategies. [World Bank, USAID, and UN

Energy Technology Data Exchange (ETDEWEB)

Rondinelli, D A [Syracuse Univ., NY; Ruddle, K

1978-04-01

International assistance agencies have turned increasingly to integrated rural development policies in an attempt to ameliorate the inequitable distribution of economic growth plaguing Third World nations since World War II. This paper reviews the functionally and spatially integrated investment strategies of the World Bank, US Agency for International Development, and the United Nations, outlines their objectives, perceptions of the problem, basic assumptions and programs, and evaluates them in terms of potential difficulties for implementation. Those factors crucial to making integrated development policies operational--knowledge of human ecosystems in rural areas, analytical ability, operational procedures, arrangements for local participation, subsistence systems indicators and administrative capacity of local and national governments--are discussed and assessed.

Trilogy of China's Banking

Institute of Scientific and Technical Information of China (English)

无

2009-01-01

@@ Banks of China will face declining profit rate and slightly increasing non-performing loans ratio in a short term during 2009, but government policies will reduce the negative impact of financial crisis, and China's financial environment is still relatively safe in a global comparison.

12 CFR 651.2 - Conflict-of-interest policy.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Conflict-of-interest policy. 651.2 Section 651... CORPORATION GOVERNANCE § 651.2 Conflict-of-interest policy. The Corporation shall establish and administer a conflict-of-interest policy that will provide reasonable assurance that the directors, officers, employees...

Trends in International Trade in Higher Education: Implications and Options for Developing Countries. Education Working Paper Series, Number 6

Science.gov (United States)

Bashir, Sajitha

2007-01-01

This paper analyzes the trends, underlying factors and implications of the trade in higher education services. The term "trade in higher education" refers to the purchase of higher education services from a foreign country using domestic resources. The objectives of this paper are to provide policy makers in developing countries, World Bank staff,…

The (Biological or Cultural) Essence of Essentialism: Implications for Policy Support among Dominant and Subordinated Groups.

Science.gov (United States)

Soylu Yalcinkaya, Nur; Estrada-Villalta, Sara; Adams, Glenn

2017-01-01

Most research links (racial) essentialism to negative intergroup outcomes. We propose that this conclusion reflects both a narrow conceptual focus on biological/genetic essence and a narrow research focus from the perspective of racially dominant groups. We distinguished between beliefs in biological and cultural essences, and we investigated the implications of this distinction for support of social justice policies (e.g., affirmative action) among people with dominant (White) and subordinated (e.g., Black, Latino) racial identities in the United States. Whereas, endorsement of biological essentialism may have similarly negative implications for social justice policies across racial categories, we investigated the hypothesis that endorsement of cultural essentialism would have different implications across racial categories. In Studies 1a and 1b, we assessed the properties of a cultural essentialism measure we developed using two samples with different racial/ethnic compositions. In Study 2, we collected data from 170 participants using an online questionnaire to test the implications of essentialist beliefs for policy support. Consistent with previous research, we found that belief in biological essentialism was negatively related to policy support for participants from both dominant and subordinated categories. In contrast, the relationship between cultural essentialism and policy support varied across identity categories in the hypothesized way: negative for participants from the dominant category but positive for participants from subordinated categories. Results suggest that cultural essentialism may provide a way of identification that subordinated communities use to mobilize support for social justice.

The (Biological or Cultural Essence of Essentialism: Implications for Policy Support among Dominant and Subordinated Groups

Directory of Open Access Journals (Sweden)

Nur Soylu Yalcinkaya

2017-05-01

Full Text Available Most research links (racial essentialism to negative intergroup outcomes. We propose that this conclusion reflects both a narrow conceptual focus on biological/genetic essence and a narrow research focus from the perspective of racially dominant groups. We distinguished between beliefs in biological and cultural essences, and we investigated the implications of this distinction for support of social justice policies (e.g., affirmative action among people with dominant (White and subordinated (e.g., Black, Latino racial identities in the United States. Whereas, endorsement of biological essentialism may have similarly negative implications for social justice policies across racial categories, we investigated the hypothesis that endorsement of cultural essentialism would have different implications across racial categories. In Studies 1a and 1b, we assessed the properties of a cultural essentialism measure we developed using two samples with different racial/ethnic compositions. In Study 2, we collected data from 170 participants using an online questionnaire to test the implications of essentialist beliefs for policy support. Consistent with previous research, we found that belief in biological essentialism was negatively related to policy support for participants from both dominant and subordinated categories. In contrast, the relationship between cultural essentialism and policy support varied across identity categories in the hypothesized way: negative for participants from the dominant category but positive for participants from subordinated categories. Results suggest that cultural essentialism may provide a way of identification that subordinated communities use to mobilize support for social justice.

Effect of capital constraints on risk preference behavior of commercial banks

Institute of Scientific and Technical Information of China (English)

Li Ma; Junxun Dai; Xian Huang

2011-01-01

Purpose-The purpose of this paper is to analyze how the financial supervision authority utilizes the restrictions of capital constraints imposing on commercial banks the need to develop the macro economy.Design/methodology/approach-This paper uses multilateral game to deduce the loan characteristics of banks,vector and void coordinates to analyze the behavior choices of banks under capital supervision,sets up an index to describe the risk preference of banks,and analyzes the process with Chinese data empirically.Findings-This paper finds big banks have a loan preference for big enterprises and small banks have a preference for establishing a bank syndicate to pursue large projects.Further,the paper notes the conditions by which the heterology banks choose loans across the border and proves that changes of capital requirements would force the credit structure of the commercial banks to adjust along an efficient frontier broken line or an efficient frontier plane under the conditions of interest rate regulation or interest rate marketization,respectively.Research limitations/implications-It is very complex to describe the choices of risk behavior of banks and the simple supervision method needs to be adjusted.Practical implications-This paper finds that banks show risk preferences of credit structure,and capital constraints would affect it greatly;regulators should guard against capital constraint softening.Originality/value-It is the first time that the conditions of banks beyond the loan border have been studied and the behavior adjustment of banks using the vector and void coordinate analyzed.

Does competition improve financial stability of the banking sector in ASEAN countries? An empirical analysis.

Science.gov (United States)

Noman, Abu Hanifa Md; Gee, Chan Sok; Isa, Che Ruhana

2017-01-01

This study examines the influence of competition on the financial stability of the commercial banks of Association of Southeast Asian Nation (ASEAN) over the 1990 to 2014 period. Panzar-Rosse H-statistic, Lerner index and Herfindahl-Hirschman Index (HHI) are used as measures of competition, while Z-score, non-performing loan (NPL) ratio and equity ratio are used as measures of financial stability. Two-step system Generalized Method of Moments (GMM) estimates demonstrate that competition measured by H-statistic is positively related to Z-score and equity ratio, and negatively related to non-performing loan ratio. Conversely, market power measured by Lerner index is negatively related to Z-score and equity ratio and positively related to NPL ratio. These results strongly support the competition-stability view for ASEAN banks. We also capture the non-linear relationship between competition and financial stability by incorporating a quadratic term of competition in our models. The results show that the coefficient of the quadratic term of H-statistic is negative for the Z-score model given a positive coefficient of the linear term in the same model. These results support the non-linear relationship between competition and financial stability of the banking sector. The study contains significant policy implications for improving the financial stability of the commercial banks.

Central Bank Financial Strength and the Cost of Sterilization in China

DEFF Research Database (Denmark)

Ljungwall, Christer; Xiong, Yi; Yutong, Zou

2013-01-01

Using a unique monthly data set over the period 2000:1-2008:12, this paper presents empirical findings on China's central bank, the People's Bank of China, from the viewpoint of its financial strength and the cost of monetary policy instruments. The results show that PBoC is constrained...... by the costs of its monetary policy instruments. PBoC tend to use less costly but market-distorting instruments such as the deposit interest rate cap and reserve-ratio requirements, rather than more market-oriented but more costly instruments such as central bank note issuance. These costs remain under control...

A qualitative study of nutrition-based initiatives at selected food banks in the feeding America network.

Science.gov (United States)

Handforth, Becky; Hennink, Monique; Schwartz, Marlene B

2013-03-01

Food banks are the foundation of the US emergency food system. Although their primary mission is to alleviate hunger, the rise in obesity and diet-related diseases among food-insecure individuals has led some food bank personnel to actively promote more nutritious products. A qualitative interview approach was used to assess nutrition-related policies and practices among a sample of 20 food banks from the national Feeding America network. Most food bank personnel reported efforts to provide more fresh produce to their communities. Several described nutrition-profiling systems to evaluate the quality of products. Some food banks had implemented nutrition policies to cease distributing low-nutrient products, such as soda and candy; however, these policies were more controversial than other strategies. The obstacles to implementing strong nutrition policies included fear of reducing the total amount of food distributed, discomfort choosing which foods should not be permitted, and concern about jeopardizing relationships with donors and community partners. Empirical research is needed to measure how food bank nutrition policies influence relationships with food donors, the amount of food distributed, the nutritional quality of food distributed, and the contribution of food bank products to the food security and nutritional status of the communities they serve. Copyright © 2013 Academy of Nutrition and Dietetics. Published by Elsevier Inc. All rights reserved.

Review of the World Bank Road Safety website.

NARCIS (Netherlands)

Maas, J.M.

2006-01-01

The Road Safety website of The World Bank needs to be redeveloped. The website should reflect the new developments in the work field and the IT policy of The World Bank and support its implementation. The report is meant as a brief business case, describing the target audience, purposes of the site,

An Item Bank to Measure Systems, Services, and Policies: Environmental Factors Affecting People With Disabilities.

Science.gov (United States)

Lai, Jin-Shei; Hammel, Joy; Jerousek, Sara; Goldsmith, Arielle; Miskovic, Ana; Baum, Carolyn; Wong, Alex W; Dashner, Jessica; Heinemann, Allen W

2016-12-01

To develop a measure of perceived systems, services, and policies facilitators (see Chapter 5 of the International Classification of Functioning, Disability and Health) for people with neurologic disabilities and to evaluate the effect of perceived systems, services, and policies facilitators on health-related quality of life. Qualitative approaches to develop and refine items. Confirmatory factor analysis including 1-factor confirmatory factor analysis and bifactor analysis to evaluate unidimensionality of items. Rasch analysis to identify misfitting items. Correlational and analysis of variance methods to evaluate construct validity. Community-dwelling individuals participated in telephone interviews or traveled to the academic medical centers where this research took place. Participants (N=571) had a diagnosis of spinal cord injury, stroke, or traumatic brain injury. They were 18 years or older and English speaking. Not applicable. An item bank to evaluate environmental access and support levels of services, systems, and policies for people with disabilities. We identified a general factor defined as "access and support levels of the services, systems, and policies at the level of community living" and 3 local factors defined as "health services," "community living," and "community resources." The systems, services, and policies measure correlated moderately with participation measures: Community Participation Indicators (CPI) - Involvement, CPI - Control over Participation, Quality of Life in Neurological Disorders - Ability to Participate, Quality of Life in Neurological Disorders - Satisfaction with Role Participation, Patient-Reported Outcomes Measurement Information System (PROMIS) Ability to Participate, PROMIS Satisfaction with Role Participation, and PROMIS Isolation. The measure of systems, services, and policies facilitators contains items pertaining to health services, community living, and community resources. Investigators and clinicians can measure

Banking Activity for Sustainable Development

Directory of Open Access Journals (Sweden)

Ion Stancu

2006-08-01

Full Text Available he corporations gain a power of influence, unthinkable years ago; they have acquired more and more rights and, in some way, govern the life of billions of peoples and of the earth in general. With every right, comes though the responsibility of the conservation and development of the environment in which the corporations act. The banking system has a major role to play in the evolution of the international framework, given its position on the economic stage. Some important banking groups realized this fact and made important steps in the area. The case study of the Holland banking group ABN AMRO proves the complexity of the introduction of sustainable development in the core of the financial business. The implementation is neither easy nor cheap. It implies essential changes in the bank management, in the way to determine the financial policies, in how to choose the clients, the employees, the suppliers etc. Led in an efficient way, sustainable banking implies innovation, creativity and, implicitly, new gains, through creating new products and opening new markets. The international banking community proved, through leading examples (ABN AMRO Bank, HSBC Group, Rabobank Group, JP Morgan Chase, Citigroup etc. that it understands the importance, the necessity and also the viability of the sustainable development.

EVALUATING THE EFFECTIVENESS OF REFINANCING CREDIT INSTITUTIONS BY THE BANK OF RUSSIA

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V. E. Gladkova

2012-01-01

Full Text Available The article is devoted to assessing the effectiveness of refi nancing credit institutions as a tool of monetary policy the Bank of Russia. The Bank of Russia has a policy on the basis of certain economic situations, to create an enabling environment for financial sector development, increasing the stability of commercial banks, and, in general, economic growth in the country. The refinancing rate, which in turn should influence the currency market in the country and the level of interest rates, can not perform their duties because of inefficiencies such as a refinancing.

Reflective Practice: How the World Bank Explored Its Own Biases?

Science.gov (United States)

McKee, Martin; Stuckler, David

2015-12-10

While many international organisations have independent evaluations, including the International Monetary Fund (IMF) and World Health organization (WHO), uniquely the World Bank in its 2015 World Development Report sought to ascertain the potential biases that influence how its staff interpret evidence and influence policy. Here, we describe the World Bank's study design, including experiments to ascertain the impact on Bank staff's judgements of complexity, confirmation bias, sunk cost bias, and an understanding of the wishes of those whom they seek to help. We then review the Bank's proposed mechanisms to minimise the impact of the biases they identified. We argue that this approach, that we refer to as 'reflective practice,' deserves to be adopted more widely among institutions that seek to use evidence from research to inform policy and practice. © 2016 by Kerman University of Medical Sciences.

Judicial Review on Administrative Action: Reflection on the Bank Century Bailout Policy

Directory of Open Access Journals (Sweden)

Lily Evelina Sitorus

2016-04-01

Full Text Available Accountability is the key to good governance. In the global administrative law, every policy made should be accountable. The given law should be accessible for public. When global financial crisis happened, many countries didn't have the necessary rules to solve the problem arised. In Indonesia, the decision from government to bailout century bank is controversial as of right now. The need of comprehensive law in related to economic, political and social factor should be considered. The law of Administrative Governance of Indonesia (UU No 30/2014 had provided the code of conduct for government action. The placement of discretion in one whole chapter can be seen in two ways side-the restriction of government action and protection for public rights. In practice, the implementation of such rule is not accessible as the formulation intended. Harmonization with the law of Administrative Courts in Indonesia (UU No 5/1986 jo UU No 9/2004 jo UU 51/2009 is still needed.

African female immigration to the United States and its policy implications

Science.gov (United States)

Thomas, Kevin J.A.; Logan, Ikubolajeh

2014-01-01

This study examines the dynamics of female African immigration and settlement in the United States and discusses the research and policy implications for these processes. It highlights a significant surge in female immigration from African than non-African countries in recent years. This surge is driven by female immigration from Africa’s countries most populous countries, from countries affected by civil conflicts, and from English-speaking countries in the region. African women are also more likely to arrive as unmarried single than other female immigrants. In addition, they had the highest prevalence of Bachelors, Masters, or Doctorate degrees among women in the US. African females were also about twice more likely to be enrolled in US Educational institutions compared to other women. Those in the labor force were more likely to work as nursing professionals than in technical occupational groups such as engineering and computing. The study concludes by discussing the research and policy implications of these findings for countries in the developing world. PMID:25097267

PROBLEM BANKS IN UKRAINE: CAUSES AND FUNCTIONING IN 2008 – 2014

Directory of Open Access Journals (Sweden)

N. Versal

2014-09-01

Full Text Available It's disclosed the features of identification troubled or insolvent banks according to the requirements of the banking legislation of the USA, the EU and Ukraine. Nowadays, we observe the convergence in the approaches to identification such types banks and notice the special role of key performance indicators (capitalization and liquidity, which indicate the presence of difficulties in banks. Based on analysis of the intervention of temporary administrations in Ukrainian banks are identified the causes of problems and tracked changes in the policy of regulators: from recovery to resolution of banks.

Is Bank Finance the Achilles' Heel of Irish SMEs?

Science.gov (United States)

Carey, Dermot; Flynn, Antoinette

2005-01-01

Purpose: The purpose of this research paper is to examine the implications of new banking regulations (Basel II) for the Irish SME sector. Training gaps are identified and recommendations to advance social capital networks are provided. Design/methodology/approach: The Irish SME dependence on external (bank) finance and their susceptibility to…

Endogenous Central Bank Information and the Optimal Degree of Transparency

OpenAIRE

Romain Baeriswyl

2011-01-01

As a policymaker, the central bank both observes and shapes the economy. The central bank scrutinizes market activity to assess the state of the economy, and its policy strongly shapes market outcomes. When transparency allows the central bank to shape the economy more effectively, it may also cause the informational role of the economic aggregate to deteriorate. This paper presents a simple model to capture the endogenous nature of central bank information and to address welfare issues. Firs...

Effective Macroprudential Policy: Cross-Sector Substitution from Price and Quantity Measures

NARCIS (Netherlands)

Cizel, J.; Frost, J.; Houben, A.; Wierts, P.

Macroprudential policy is increasingly being implemented worldwide. Key questions are its effectiveness in influencing bank credit and substitution effects beyond banking. Our results confirm the expected effects of macroprudential policies on bank credit, both for advanced economies and emerging

Policy implications with regard to controllable forms of natural background radiation

International Nuclear Information System (INIS)

Heijningen, R.J.J. van; Bartels, J.H.M.; Ackers, J.G.; Hogeweg, B.; Rijn, H.T.U. de; Walle, F.B. de

1988-04-01

The RENA (Regulable forms of Natural Background radiation) has started in order to broaden the technical-scientific insights in the domain of the natural background radiation and to continue the SAWORA-study. With regard to the policy implications it has appeared to be desirable to define more detailed the environment-protectional economical and governmental aspects and to consider their mutual relationships in order to prepare a coherent programme which is directed at policy actions to be undertaken as well as at the supporting study needed. (author). 34 refs.; 3 figs.; 11 tabs

Transfusion in Haemoglobinopathies: Review and recommendations for local blood banks and transfusion services in Oman

Directory of Open Access Journals (Sweden)

Arwa Z. Al-Riyami

2018-04-01

Full Text Available Sickle cell disease and homozygous β-thalassaemia are common haemoglobinopathies in Oman, with many implications for local healthcare services. The transfusions of such patients take place in many hospitals throughout the country. Indications for blood transfusions require local recommendations and guidelines to ensure standardised levels of care. This article summarises existing transfusion guidelines for this group of patients and provides recommendations for blood banks and transfusion services in Oman. This information is especially pertinent to medical professionals and policy-makers developing required services for the standardised transfusion support of these patients.

Central banking and financial innovation. A survey of the modern literature

Directory of Open Access Journals (Sweden)

Jan Marc Berk

2002-09-01

Full Text Available We review the literature regarding the impact of financial innovation on the monetary transmission mechanism and on the way the central bank can achieve its ultimate goal, that is to control the price level. We argue that, although the form ofcentral bank instruments and current methods for implementing monetary policy may change, the goals that the policy makers try achieve by employing these instruments remain valid, and achievable.

The Correlated Factors of Mandatory Social Reporting by Islamic Banks in Indonesia

OpenAIRE

Dodik Siswantoro

2012-01-01

Objective – Islamic Banking is closely related to the real sector. Then, its operation should reflect the real sector which is expected to contribute to the sustainable economic growth. Nevertheless, Islamic banks are still benchmarking the price of their products (profit sharing and sales) on interest rate. This is as an implication of the implementation of the dual banking system. Moreover, the small portion of Islamic banking compared to the total national banks causes the competitiveness ...

Redefining the WISC-R: Implications for Professional Practice and Public Policy.

Science.gov (United States)

Macmann, Gregg M.; Barnett, David W.

1992-01-01

The factor structure of the Wechsler Intelligence Scale for Children (Revised) was examined in the standardization sample using new methods of factor analysis. The substantial overlap across factors was most parsimoniously represented by a single general factor. Implications for public policy regarding the purposes and outcomes of special…

Monetary Policy Delelgation and Transparency of Policy Targets: A Positive Analysis

Science.gov (United States)

2011-06-01

neoclassical time- inconsistency framework, monetary policy is modeled as a two-stage game between the private sector and the central bank as...simple neoclassical model and keep it to a minimum complexity which suffices to derive the results. The applied game-theoretic framework stands in the...accountability may imply that central banks choose lo be opaque. Applying the theory of bureau- cracy to the ECB. Forder (2002) argues that central banks

The Bank-Sovereign Nexus: Evidence from a non-Bailout Episode

DEFF Research Database (Denmark)

Caporin, Massimiliano; Natvik, Gisle J.; Ravazzolo, Francesco

We explore the interplay between sovereign and bank credit risk in a setting where Danish authorities first let two Danish banks default rather than bail them out and then left the country's largest bank, Danske Bank, to recapitalize privately. We find that the correlation between bank...... and sovereign credit default swap (CDS) rates changed with these events, indicating that the non-bailout decisions and recapitalization helped to curb the feedback loop between bank and sovereign risk. Following the non-bailout events, the sensitivity to external shocks declined both for Danske Bank...... and private bank debt indicates that the non-bailout policies succeeded in breaking the vicious circle generated by the risks on the bank and sovereign debts. Our results are reinforced by the use of an indirect testing approach and by focusing on CDS-quantiles....

Asset quality in a crisis period: An empirical examination of Ghanaian banks

Directory of Open Access Journals (Sweden)

Abdul Latif Alhassan

2014-01-01

Full Text Available This paper examines the factors that account for the deterioration in the asset quality of Ghanaian banks during a period of financial crises using a unique dataset on 25 banks from 2005 to 2010. Based on system Generalized Method of Moments estimations, we find that the persistence of non-performing loans in addition to loan growth, bank market structure, bank size, inflation, real exchange rate and GDP growth are the significant determinants of banks asset quality in Ghana. The findings have implications for both bank management and regulators in emerging economies.

Do central banks respond to exchange rate movements? Some new evidence from structural estimation

OpenAIRE

Wei Dong

2013-01-01

This paper investigates the impact of exchange rate movements on the conduct of monetary policy in Australia, Canada, New Zealand and the United Kingdom. We develop and estimate a structural general equilibrium two-sector model with sticky prices and wages and limited exchange rate pass-through. Different specifications for the monetary policy rule and the real exchange rate process are examined. The results indicate that the Reserve Bank of Australia, the Bank of Canada and the Bank of Engla...

Appraisal of Priority Sector Lending by Commercial Banks in India

OpenAIRE

C Bhujanga Rao

2014-01-01

This report provides an overview of the performance of priority sector lending by commercial banks in India. The review captures the changing contours of Reserve Bank of India policy on priority sector advances. The paper analyses the trends in priority sector lending for the period 1995-2011, the burden of non-performing assets of commercial bank in priority sector lending and the extent to which priority sector targets are achieved by individual banks. It is observed that the scheduled comm...

Policy implications of technologies for cognitive enhancement

Energy Technology Data Exchange (ETDEWEB)

Sarewitz, Daniel R. (Arizona State University, Tempe, AZ); Karas, Thomas H.

2007-02-01

The Advanced Concepts Group at Sandia National Laboratory and the Consortium for Science, Policy and Outcomes at Arizona State University convened a workshop in May 2006 to explore the potential policy implications of technologies that might enhance human cognitive abilities. The group's deliberations sought to identify core values and concerns raised by the prospect of cognitive enhancement. The workshop focused on the policy implications of various prospective cognitive enhancements and on the technologies/nanotechnology, biotechnology, information technology, and cognitive science--that enable them. The prospect of rapidly emerging technological capabilities to enhance human cognition makes urgent a daunting array of questions, tensions, ambitions, and concerns. The workshop elicited dilemmas and concerns in ten overlapping areas: science and democracy; equity and justice; freedom and control; intergenerational issues; ethics and competition; individual and community rights; speed and deliberations; ethical uncertainty; humanness; and sociocultural risk. We identified four different perspectives to encompass the diverse issues related to emergence of cognitive enhancement technologies: (1) Laissez-faire--emphasizes freedom of individuals to seek and employ enhancement technologies based on their own judgment; (2) Managed technological optimism--believes that while these technologies promise great benefits, such benefits cannot emerge without an active government role; (3) Managed technological skepticism--views that the quality of life arises more out of society's institutions than its technologies; and (4) Human Essentialism--starts with the notion of a human essence (whether God-given or evolutionary in origin) that should not be modified. While the perspectives differ significantly about both human nature and the role of government, each encompasses a belief in the value of transparency and reliable information that can allow public discussion and

Metering: EU policy and implications for fuel poor households

International Nuclear Information System (INIS)

Darby, Sarah J.

2012-01-01

Fuel poverty is a function of household energy consumption, income, and the cost of delivered energy. The paper discusses ways in which current EU policy on the development of ‘smart’ metering could affect fuel poor households. The main focus is on developments in electricity metering and the development of ‘active demand’ and smart grids, so that demand can be matched closely with available supply. Advances in metering and related technologies open the way to time-of-use charging, easier switching between suppliers and between credit payment and prepayment, direct load control of some end-uses by the utility, greater scope for microgeneration, and improved consumption feedback for customers. These options open up both uncertainties and risks. The paper offers definitions and discussion of various functions of smart metering, summarizes the EU policy background, and considers some possible equity implications of rolling out a new generation of meters. There follows an assessment of potential implications to the fuel poor of changes to metering, based on a review of the literature on energy feedback, tariffing, and supplier–customer relationships. Much of the discussion is based on the UK experience, with examples from other EU member states and, where appropriate, from other parts of the world. - Highlights: ► Smart meters are part of general upgrading of electricity and gas networks. ► EU policy is to roll out the meters to 80%+ of the population by 2020. ► Improved feedback and prepayment metering may benefit the fuel poor. ► Remote disconnection and data privacy are issues for all consumers. ► We need careful assessment of potential gains and losses to the fuel poor.

Criteria of Sharī‘ah supervisory committee: A comparative study between guidelines of Bangladesh Bank and Bank Negara Malaysia

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Muhammad Amanullah

2015-12-01

Full Text Available Islamic banking and finance differs from conventional banking and finance in that it follows the rules of Sharī‘ah. In order to ensure that Islamic banking and finance follows the Sharī‘ah rulings, it is essential for it to have a Sharī‘ah supervisory board. An important duty of this board is to determine that the products, services, policies, guidelines and all other activities performed by the Islamic bank, are in compliance with the Sharī‘ah rulings. To perform their duty properly, the members of this board should possess certain criteria. Bangladesh Bank has spelled out some guidelines for these criteria briefly. Likewise, Bank Negara Malaysia has provided some guidelines. The main objectives of this research paper are to highlight the guidelines of these two banks on these criteria, compare them and evaluate them in light of Sharī‘ah guidelines on these criteria spelled out by contemporary Muslim jurists.

Input-output interactions and optimal monetary policy

DEFF Research Database (Denmark)

Petrella, Ivan; Santoro, Emiliano

2011-01-01

This paper deals with the implications of factor demand linkages for monetary policy design in a two-sector dynamic general equilibrium model. Part of the output of each sector serves as a production input in both sectors, in accordance with a realistic input–output structure. Strategic...... complementarities induced by factor demand linkages significantly alter the transmission of shocks and amplify the loss of social welfare under optimal monetary policy, compared to what is observed in standard two-sector models. The distinction between value added and gross output that naturally arises...... in this context is of key importance to explore the welfare properties of the model economy. A flexible inflation targeting regime is close to optimal only if the central bank balances inflation and value added variability. Otherwise, targeting gross output variability entails a substantial increase in the loss...

Determinants of the Internet Islamic Banking Services Adoption in Jordan

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Loai Naser Mahmoud Alhawamdeh

2017-12-01

 Implication: This researchpresents a conceptually yet empirically supported model to describe the factors influencing internet banking services and internet Islamic banking services. This research will be significant in several areas, by adding new knowledge for the academics, practitioners and organizations in general and particularly in Jordan

REPO Operations - a Way to Adjust Liquidity Crisis on Banking Institutions

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Lucean Mihalcea

2016-07-01

Full Text Available Money market operations (open market operations constitute the most important instrument of the monetary policy of the NATIONAL BANK of ROMANIA. They shall be carried out on the initiative of the Central Bank, having the following functions: guiding interest rates, managing the liquidity conditions of the monetary market and signaling the orientation of the monetary policy. In this context, a systematic and a market organization is essential able to adapt to the new conditions imposed by the relaxation of credit operations. Implementation and operational systematization of such types of transaction can help banking entities in adjusting the liquidity crisis and the support on the way to economic growth.

Capital Requirements, Monetary Policy, and Aggregate Bank Lending: Theory and Empirical Evidence.

OpenAIRE

Thakor, Anjan V

1996-01-01

Capital requirements linked solely to credit risk are shown to increase equilibrium credit rationing and lower aggregate lending. The model predicts that the bank's decision to lend will cause an abnormal run-up in the borrower's stock price and that this reaction will be greater the more capital-constrained the bank. The author provides empirical support for this prediction. The model explains the recent inability of the Federal Reserve to stimulate bank lending by increasing the money suppl...

Optimizing the Banking Activity Using Assets & Liabilities Management

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Vasile Dedu

2008-10-01

Full Text Available In the actual study, starting from the international experience, we revealed the role that should be taken by the Assets and Liabilities Committee (ALCO within the Romanian commercial banks. ALCO became one of the tools used by the executive management of the banks to take decisions regarding the future policy of assets and liabilities management, relying on the synthetic information prepared by well trained technicians but without voting right (usually middle management staff. We consider that the implementation of an assets and liabilities management strategy cannot be done without an appropriate corporate governance structure, even though the bank is having highly specialized staff. Models of some western banking institutions may be considered as benchmarks by the Romanian banks.

Technical Note: The Effect of The Fed’s Quantitative Easing Policy on the Performance of Listed Companies and the Banking Sector in Indonesia

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Yanuar Rizky

2015-12-01

Full Text Available Abstract While the efficient market hypothesis suggests that stock price reflects the fundamental condition of companies, which could affect investors’ decisions, this technical note reports empirical evidence that stock price is also influenced by the public’s perception of the market situation. This note shows that the source of funds circulating in the Indonesia Stock Exchange is related to excess liquidity resulting from the policy of quantitative easing (QE by developed countries’ central banks. Banks funding assets with debt results in leverage relationships with the Capital Adequacy Ratio (CAR negatively affected. Thus it is evident that the Indonesian banking strategy is "reactive" and is influenced by external factors. External factors can be influenced by global issues as well as internal (enterprise performance issues. Therefore foreign and global issues may be important (perhaps dominant in determining the perceptions of the Indonesian stock market.

Franchise Values, Regulatory Monitoring, and Capital Requirements in Optimal Bank Regulation

DEFF Research Database (Denmark)

Andersen, Thomas Barnebeck; Harr, Thomas

2008-01-01

This paper demonstrates that financial deregulation is likely to make standard prudential regulatory instruments less effective in curbing excessive risk-taking incentives among banks. This has interesting implications for optimal bank regulation. When there is an increase in competition, the opt...

Mitigating Evidentiary Bias in Planning and Policy-Making; Comment on “Reflective Practice: How the World Bank Explored Its Own Biases?”

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Justin Parkhurst

2017-02-01

Full Text Available The field of cognitive psychology has increasingly provided scientific insights to explore how humans are subject to unconscious sources of evidentiary bias, leading to errors that can affect judgement and decision-making. Increasingly these insights are being applied outside the realm of individual decision-making to the collective arena of policy-making as well. A recent editorial in this journal has particularly lauded the work of the World Bank for undertaking an open and critical reflection on sources of unconscious bias in its own expert staff that could undermine achievement of its key goals. The World Bank case indeed serves as a remarkable case of a global policy-making agency making its own critical reflections transparent for all to see. Yet the recognition that humans are prone to cognitive errors has been known for centuries, and the scientific exploration of such biases provided by cognitive psychology is now well-established. What still remains to be developed, however, is a widespread body of work that can inform efforts to institutionalise strategies to mitigate the multiple sources and forms of evidentiary bias arising within administrative and policy-making environments. Addressing this gap will require a programme of conceptual and empirical work that supports robust development and evaluation of institutional bias mitigation strategies. The cognitive sciences provides a scientific basis on which to proceed, but a critical priority will now be the application of that science to improve policy-making within those agencies taking responsibility for social welfare and development programmes.

Understanding Bank Payouts During the Crisis of 2007-2009

NARCIS (Netherlands)

Cziraki, Peter; Laux, C.; Lóránth, G.

2016-01-01

We provide an extensive analysis of the payout policy of U.S. banks in 2007-2008 to identify the main drivers of their payout decisions. We use established models that relate dividends to fundamentals to provide a benchmark for the normal level of payouts. Based on these models, bank dividends

Standards for arsenic in drinking water: Implications for policy in Mexico.

Science.gov (United States)

Fisher, Andrew T; López-Carrillo, Lizbeth; Gamboa-Loira, Brenda; Cebrián, Mariano E

2017-11-01

Global concern about arsenic in drinking water and its link to numerous diseases make translation of evidence-based research into national policy a priority. Delays in establishing a maximum contaminant level (MCL) to preserve health have increased the burden of disease and caused substantial and avoidable loss of life. The current Mexican MCL for arsenic in drinking water is 25 μg/l (2.5 times higher than the World Health Organization (WHO) recommendation from 1993). Mexico's struggles to set its arsenic MCL offer a compelling example of shortcomings in environmental health policy. We explore factors that might facilitate policy change in Mexico: scientific evidence, risk communication and public access to information, economic and technological resources, and politics. To raise awareness of the health, societal, and economic implications of arsenic contamination of drinking water in Mexico, we suggest action steps for attaining environmental policy change and better protect population health.

Akibat Hukum Bagi Bank Bila Kewajiban Modal Inti Minimum Tidak Terpenuhi

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Indira Retno Aryatie

2012-02-01

Full Text Available As an implementation of the Indonesian Banking Architecture policy, the government issues Bank Indonesia Regulation No. 9/16/ PBI/2007 on Minimum Tier One Capital that increases the minimum capital to 100 billion rupiah. This writing discusses the legal complication that a bank will face should it fail to fulfil the minimum ratio. Sebagai tindak lanjut dari kebijakan Arsitektur Perbankan Indonesia, pemerintah mengeluarkan Peraturan Bank Indonesia 9/16/PBI/2007 tentang Kewajiban Modal Inti Minimum Bank yang menaikkan modal inti minimum bank umum menjadi 100 miliar rupiah. Tulisan ini membahas akibat hukum yang akan dialami bank bila kewajiban modal minimum tersebut gagal dipenuhi.

Revival of Legacy of Tooke and Gibson: Implications for Monetary Policy

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Rehman Atiq-ur

2015-05-01

Full Text Available The monetary policy rules used by central banks these days are based on the assumption that inflation could be reduced by increasing interest rate. On contrary, Tooke (1774-1858, the forefather of monetary economics, was of the view that the relationship between interest rate and inflation should be positive. His view was based on simple logic, ‘interest is a part of cost, and therefore, the increase in interest rate should increase inflation by increasing cost of production (Tooke, 1838’. Tooke’s view has got support from a number of empirical evidence including Gibson (1923 who found positive correlation between two variables for UK data over a period of 200 years. On the other hand, mainstream economic thinking on which the actual monetary practices are based ignored any possibility of positive relationship between interest rate and inflation throughout the history. The existence of Tooke’s cost side effects of monetary policy is a serious concern because if these effects exist than the use of monetary policy would be counterproductive. Using the data from entire globe, I attempt to explore the nature of relationship between the interest rate and inflation. I found that the data supports the perception of Tooke and Gibson and denies that the effectiveness of monetary policy currently adapted by the correlation between interest rate and inflation is positive. The results are robust to sample size, sample period, and various definitions of interest rate and inflation.

Market Discipline and Bank Risk Taking: Evidence from the East Asian Banking Sector

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Fazelina Sahul Hamid

2017-03-01

Full Text Available The third pillar of the Basel II highlights the role of market discipline in easing the existing pressure on traditional monitoring measures like capital requirement and government supervision. This study test the effectiveness of market discipline in inducing prudential risk management practices among the East Asian banks over the 1995 to 2005 period. Market discipline is measured using information disclosure and interbank deposit holdings. We find that only the latter is an effective market discipline tool. However, the former becomes effective when market concentration is higher. We find that government owned, foreign owned and recapilatised banks are subject to market disciplining when disclosure in taken account but the opposite is true when interbank deposits is taken into account. Finally, we find that banks that disclose more risk related information hold more capital against their non-performing loan. The implications of the findings are discussed.

Bank Credit Risk Management and Rating Migration Analysis on the Business Cycle

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Dimitris Gavalas

2014-03-01

Full Text Available Credit risk measurement remains a critical field of top priority in banking finance, directly implicated in the recent global financial crisis. This paper examines the dynamic linkages between credit risk migration due to rating shifts and prevailing macroeconomic conditions, reflected in alternative business cycle states. An innovative empirical methodology applies to bank internal rating data, under different economic scenarios and investigates the implications of credit risk quality shifts for risk rating transition matrices. The empirical findings are useful and critical for banks to align to Basel guidelines in relation to core capital requirements and risk-weighted assets in the underlying loan portfolio.

Islamic Banking Capital Challenges to Increase Business Expansion (Indonesia Cases

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Lucky Nugroho

2017-11-01

Full Text Available In the case of Indonesia regarding capital sources in Islamic Banks, all Islamic Banks are subsidiaries of Conventional Banks (except Bank Muamalat. Bank Syariah Mandiri which is the only Islamic Bank that meets capital ownership with Business Category Bank Level III (BUKU III is also a subsidiary of Bank Mandiri (conventional bank. In the same way, conventional banks become essential to meet the capital requirement to improve the business of Islamic Bank. This article aims to determine the role of capital and operating profit for business expansion (financing in Bank Syariah Mandiri. The method used is the quantitative method by using statistical tool STATA version 13. The result of regression test is known that capital and profit have a significant influence in increasing financing expansion in Islamic Bank. Also, the price of the number of bad debts causes the lack of public confidence in the Islamic bank. The alternative to increasing the capital and public trust is government policies to support Islamic bank become independent.

Expanding Banking Services to Micro, Small and Medium Enterprises and Poor Households in the Philippines

OpenAIRE

Lamberte, Mario B.

2001-01-01

This paper has reviewed existing policies and programs to encourage banks to expand their financial services to micro, small- and medium-sized enterprises (MicSMEs) and poor households. The overall policy environment for promoting microfinance in the Philippines has indeed considerably improved since 1990, and there are signs that banks have favorably responded to it. However, banks still face some constraints in expanding further their financial services to MicSMEs and poor households. This ...

THE EUROPEAN CENTRAL BANK AND THE FEDERAL RESERVE: A COMPARATIVE ANALYSIS

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Dorina Clichici

2017-06-01

Full Text Available The purpose of this article is to identify the main differences and similarities between the European Central Bank (ECB and US Federal Reserve (FED in terms of their functional framework and monetary policy. The research is based on a comparative analysis of the history of establishing the Eurosystem and the Federal Reserve System, which has influenced the way these central banks operate today. It also analyzes the policy responses of the two institutions to the 2007 global financial crisis, since both their non-conventional policy measures and the effects thereof on growth, inflation and unemployment rates were slightly different. The paper finds that there are differences between the ECB and FED rather regarding the organization and functioning of the Committees for monetary policy and monetary policy objectives than the institutional structure and policy framework

Impact of Macroeconomic Policies on Poverty and Unemployment Rates in Nigeria, Implications for Attaining Inclusive Growth

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Philip Nwosa

2016-04-01

Full Text Available This paper examined the effect of macroeconomic policies on unemployment and poverty rates in Nigeria from 1980 to 2013 with implication to achieving inclusive growth. The inability of macroeconomic policies in addressing the rising issues unemployment and poverty rates in Nigeria despite the impressive economic growth experience over the last decades has increasingly called for the need for the pursuance of inclusive growth to address the social issues of unemployment and poverty rate. Previous studies have not considered the extent to which macroeconomic policies affects unemployment and poverty rate in Nigeria, and the implication of this relationship to the attainment of inclusive growth in Nigeria. The study adopts the Ordinary Least Square (OLS technique. The study observed that among macroeconomic policy variables only exchange rate significantly influenced unemployment rate while only fiscal policy significantly influenced and poverty rate. This implies that present macroeconomic policies in Nigeria do not guarantee the attainment of inclusive growth in Nigeria. The contribution of the paper is that to achieve inclusive growth that guarantees high employment and reduced poverty rate, there is the need for a re-examination of macroeconomic policy management in Nigeria.

Policy Implications of Limiting Immigrant Concentration in Danish Public Schools

DEFF Research Database (Denmark)

Andersen, Simon Calmar; Thomsen, Mette Kjærgaard

2011-01-01

Immigrant students in Denmark on average perform worse in lower secondary school than native Danish students. Part of the effect may not stem from the immigrant students themselves, but from the student composition at the school. From a policy perspective, the latter aspect is quite interesting...... since it is more feasible to change student composition in schools than the socioeconomic status of the individual students.This article describes theoretically the circumstances under which total student achievement can be increased by reallocating certain groups of students. Empirical analyses......’ educational outcome, by limiting the share of immigrant students at grade level at any one school to less than 50 percent. The policy implications of this finding are discussed....

Efficiency of the Macedonian banking sector

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Naumovska Elena

2016-01-01

Full Text Available The subject of this paper is to measure the efficiency of the Macedonian banking sector by applying two approaches: firstly, comparative analysis on the efficiency indicators of the banking sector in the Republic of Macedonia and the countries of Central and Southeastern Europe (CSEE and secondly, Data Envelopment Analysis (DEA. The aim is to provide directions and guidelines for further strengthening of the Macedonian banking sector. According to the comparative analysis of the efficiency indicators (net interest margin and operating costs of the Macedonian banking sector and the countries of CSEE, the countries whose banking sector shows lower operating costs are characterized with a higher level of financial deepening and greater degree of financial intermediation. The high interest margins direct towards unsuitable allocation of financial resources and insufficient competitiveness in the domestic banking sector. When applying the DEA approach, it can be stated that the group of large banks marks the highest efficiency within the Macedonian banking sector. The high concentration degree of banking activities within the group of large banks with a leading role in determining the interest rates, results in a rigid interest policy of the banks. In the direction of strengthening the efficiency of the Macedonian banking sector as a whole, the obtained results show that it is necessary for the banks to be further consolidated so as to utilize the advantages of the economies of scale, increase competitiveness, offer a diversified structure of products, invest in new contemporary software solutions that will allow reinforcement of their employees’ productivity and long-term reduction of the operating costs, as well.

12 CFR 564.8 - Appraisal policies and practices of savings associations and subsidiaries.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Appraisal policies and practices of savings associations and subsidiaries. 564.8 Section 564.8 Banks and Banking OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY APPRAISALS § 564.8 Appraisal policies and practices of savings associations and...

Bank activity and funding strategies : the impact on risk and returns

OpenAIRE

Demirguc-Kunt, Asli; Huizinga, Harry

2009-01-01

This paper examines the implications of bank activity and short-term funding strategies for bank risk and returns using an international sample of 1,334 banks in 101 countries leading up to the 2007 financial crisis. Expansion into non-interest income generating activities such as trading increases the rate of return on assets, and it may offer some risk diversification benefits at very lo...