...Federal Bank Limited (NSE: FEDERALBNK, BSE: 500469, LSE: FEDS) is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. It is the fourth largest bank in India in terms of capital base.[1] As of 18 April 2013, Federal Bank has 1124 branches spread across 24 states in India and 1272 ATMs around the country (across 108 metro centres, 224 urban centres, 384 semi-urban locations and 87 rural areas). Federal Bank opened its 1000th branch at Muthoor, Thiruvalla in Kerala on 17 August 2012,[2] and is planning to hire 2000 professionals by September 2012.[3][4] The Bank would be the first Bank from Kerala to cross the milestone of 1000 branch network. Contents [hide] * 1 History * 2 Acquisitions and Mergers * 3 Sponsorships * 4 References * 5 External links ------------------------------------------------- History[edit] In the year 1931, Travancore Federal Bank was inaugurated at Pattamukkil Varattisseril at Nedumpuram, near Thiruvalla, Kerala. The 14 founders included Sri.Pattamukkil Varattisseril Oommen Varghese, his brothers Oommen Chacko, Oommen Kurian, Oommen George and also another person from Thiruvalla, Kavumbhagam Mundapallil Lukose, and others. Oommen Varghese was the Chairman and Oommen Chacko the Manager. After it had functioned for nearly 10 years, the bank's day to day transaction had to be stopped due to the ill-health of the Manager. Understanding this situation, a lawyer from Perumbavoor named Sri K.P...
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...Andres Garcia Memorandum Date: March 3, 2012 To: President of the United States Fr: Andy Garcia Re: Holding them Accountable Mr. President, Trust and ethics are very important factors in the business world. We have to create a number of different solutions that help play a key role in building proper business ethics from employees, shareholders, board of directors, the CEO and the American people. I feel that all businesses need to promote accountability, transparency, and compliance, corporate governance systems and rely heavily on “gatekeepers”—corporate directors, in-house and outside counsel, and internal and external auditors. We need to revolutionize and rebuild trust and confidence again in the business world. Confidence in the character of the business world will enhance predictability, reliability, dependability, integrity, and regularity. Trust will give the business world a form of freedom. It will allow the business world to explore new directions, possibilities, and alternatives. Although trust always has its limits and always involves risk, trust frees the business institution from the need to continuously recheck, rethink, and reanalyze every decision and action they make. But we still need to have “gatekeepers” to keep executives from committing fraud again. Savings & Loan Scandal There have been many disappointments in my lifetime and that’s just in the past 30 years where the government has had to step in and provided some assistance at...
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...discussion on the 1980s concurrent crisis in the savings and loan (S&L) industry even though it was stated that Salinas has bucked the trend of financial problems during this period. A review of the S&L debacle (as it is commonly known today) provides several important lessons for financial-institution regulators. Moreover, legislation enacted in response to the crisis substantially reformed both bank and thrift regulation and dramatically altered the FDIC’s operations. The causes of this debacle and the events surrounding its resolution have been documented and analysed in great detail by academics, governmental bodies, former bank and thrift regulators, and journalists. Although the FDIC had a role in monitoring events as they unfolded and, indeed, played an important part in the eventual cleanup, until 1989 S&Ls were regulated by the Federal Home Loan Bank Board (FHLBB, or Bank Board) and insured by the Federal Savings and Loan Insurance Corporation (FSLIC) within a legislative and historical framework separate from the one that surrounded commercial banks. . The causes can be named as follows by the FDIC government: 1. Tax Reform Act of 1986 2. The deregulation of S&Ls in 1980 3. End of inflation 4. Forbearance III. Analysis of Facts...
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...Dear hiring agent: I want to express my interest into the Market Development Manager Position. I have a background in successful sales and marketing programs. I am familiar with the retail industry where I was brought into leadership roles. I am seeking to align myself with a progressive company poised for strong growth and market expansion. With extensive experience working with talented sales teams, meeting aggressive revenue targets, and delivering first-class sales solutions, I am confident that I can help your company meet aggressive goals as well. Capitalizing on my success at Federal Home Loan Bank, I am seeking a professional opportunity to leverage my exceptional sales record and proven account management skills to benefit your company as well as your clients. With the practical experience and demonstrated success, I have the drive and talent to quickly become a top performer within your organization. With this goal in mind, I have attached a resume outlining my qualifications. Some of my key strengths and accomplishments include: • A proven performer with a track record of outperforming sales goals, delivering high levels of customer service, and achieving successful sales results. • Ability to quickly cultivate relationships with very difficult to access, influential decision makers. • Proactively approach account and business challenges applying problem-solving skills, persistence, teamwork and resourcefulness to achieve positive results. Given my sales...
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...control of Lincoln, Keating replaced the management team; began accepting large deposits from money brokers, which allowed him to nearly triple the size of the savings and loan in two years; and shifted the focus of Lincoln's lending activity from residential mortgage loans to land development projects. On 14 April 1989, the Federal Home Loan Bank Board (FFILBB) seized control of Lincoln Savings and Loan, alleging that Lincoln was dissipating its assets by operating in an unsafe and unsound manner. On that date, Lincoln's balance sheet reported total assets of $5.3 billion, only 2.3 percent of which were investments in residential mortgage loans. Nearly two-thirds of Lincoln's asset portfolio was invested directly or indirectly in high-risk land ventures and other commercial development projects. At the time, federal authorities estimated that the closure of Lincoln Savings and Loan would cost U.S. taxpayers at least $2.5 billion. Congressional hearings into the collapse of Lincoln Savings and Loan initially focused on the methods Keating used to circumvent banking laws and on disclosures that five U.S. senators intervened on Keating's behalf with federal banking regulators. Eventually, the...
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...Term Paper on: The Federal Home Loan Bank System Abstract The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied government-sponsored liquidity facility that currently has more than $1 trillion in secured loans outstanding, mostly to commercial banks and thrifts. In this paper, we document the significant role played by the FHLB System at the onset of the ongoing financial crises and then provide evidence on the uses of these funds by the System’s bank and thrift members. Next, we identify the trade-offs faced by member-borrowers when choosing between accessing the FHLB System or the Federal Reserve’s Discount Window during the crisis period. We conclude by describing the fragmented U.S. lender-of-last-resort framework and finding that additional clarity about the respective roles of the various liquidity facilities would be helpful. Key words: Federal Home Loan Bank, government-sponsored enterprise, lender of last resort, liquidity Table of Contents Introduction The Federal Home Loan Bank System The Role of FHLB Advances during the 2007 Liquidity Crisis Aggregate Balance Sheets Regression Analysis Crisis-Related Lending by the Federal Reserve and the FHLB System Conclusion References Introduction In July 2007, the credit rating agencies (Standard & Poors, Moody’s, and Fitch) responded to the rapid deterioration in the performance of recently originated subprime mortgages by taking a ...
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...Suppose that the FOMC issues a new Directive to the Trading Desk at the Federal Reserve Bank of New York specifying a new federal funds rate target of 2.25 percent. What policy action should the Trading Desk implement to comply with the new FOMC Directive? a. At the conclusion of each FOMC meeting, the Committee issues a statement that includes the federal funds rate target, an explanation of the decision, and the vote tally, including the names of the voters and the preferred action of those who dissented. To implement the policy action, the Committee issues a directive to the New York Fed’s Domestic Trading Desk that guides the implementation of the Committee’s policy through open market operations. Before conducting open market operations, the staff at the Federal Reserve Bank of New York collects and analyzes data and talks to banks and others to estimate the amount of bank reserves to be added or drained that day. They then confer with Fed officials in Washington who do their own daily analysis and reach a consensus about the size and terms of the operations. Then, a New York Fed official sends a message to the primary dealers to indicate the Fed’s intention to buy or sell securities, and the dealers submit bids or offers as appropriate. 2. Explain the adjustments that will take place in the above diagram following the policy action you identified in part (a). b. The Federal Reserve bank would need to account for less reserves but add onto the percentage...
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...Glass Ceiling The glass ceiling is encountered by women in the workforce every day. Women face a barrier separating them from advancing in the work place and gaining equal pay as men. “Yellen punches through 'glass ceiling' at Fed,” describes the monumental advance and breakthrough of the glass ceiling for Janet Yellen, now the first woman to ever lead the Federal Reserve. She has made great strides throughout her life, “Yellen served as president of the San Francisco Federal Reserve Bank. She also had served a stint on the Fed's board in the 1990s and was a top economic adviser to President Bill Clinton”(Ferraro). She is working to show other woman that it is possible to climb to the top. The glass ceiling is an invisible barrier that separates women and minorities from advancing into top management positions(Kinicki 32). It is a serious issue in the work force because there needs to be diversity and fairness for all employees. Women are often deterred from trying to obtain top-management positions in fear that they will be denied for not being male. Yellen stated that “I don't feel that I've faced discrimination. I've had every chance to succeed and more, and I think that's what all women should have." She is lucky to have every opportunity arise in her life and has been able to push forward through the glass ceiling for herself. She is the proof to all other women that is it possible and that they cannot give up in fear of being discriminated against. Women deserve the same...
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...the defendant. In 1997, Mr. Carter entered the Collective Federal Savings bank with a ski mask and no weapon. Carter robbed the bank for roughly $16,000. When Carter was arrested he was charged with federal bank robbery – 18 USC Section 2113(a). This statute states "[w]hoever, by force and violence, or by intimidation, takes... any... thing of value [from a] bank." (Carter). Mr. Carter entered a not guilty plea saying that he had not taken the bank’s money by force. Violence, or intimidation, so he did not meet the requirements of the statute that he was charged under. Mr. Carter then put in a motion that the court give instructions to the jury that they should consider federal bank larceny (USC Section 2113(b). This would make Mr. Carter guilty of larceny instead of robbery. The larceny law states, “[w]hoever takes and carries away, with intent to steal or purloin, any... thing of value exceeding $1,000 [from a]... bank," (Carter). The difference between bank robbery and the larceny offense is a ten-year maximum difference – larceny carrying a 10-year maximum sentence and robbery carrying a 20-year maximum sentence. The court denied the motion and the jury found Mr. Carter guilty on robbery. This sentence was affirmed by the Court of Appeals. The question of this case is “whether defendants charged with federal bank robbery have the jury consider whether they committed the lesser crime of federal bank robbery?” (Carter). Donald J. McCauley argued the case on behalf...
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...Collaboration to Build Healthier Communities A Report for the Robert Wood Johnson Foundation Commission to Build a Healthier America Wilder Research Wilder Research Wilder Research Report prepared for the RWJF Commission to Build a Healthier America by Paul W. Mattessich, Ph.D. Wilder Research Saint Paul, Minnesota Ela J. Rausch, M.P . .P Federal Reserve Bank of Minneapolis Minneapolis, Minnesota With support from the Robert Wood Johnson Foundation June 2013 Creating Healthy Communities Cross-sector partnerships are sparking widespread action to improve community health COATESVILLE , PA SEATTLE, WA Access to healthy foods Access to preventative care and healthy housing LOS ANGELES , CA Quality early child care and education CHICAGO, IL Data and evidence to build health into all policies and practices MIAMI , FL Opportunities for physical activity and healthy living health community development • community development finance • community planning • early child care/education • human services • housing Introduction “ Building a healthier America is feasible in years, not decades, if we collaborate and act on what is making a difference.” —Robert Wood Johnson Foundation In 2008, the Robert Wood Johnson Foundation convened a commission of nonpartisan leaders to identify opportunities to improve the health of all Americans by creating environments that protect and actively promote health. Their report, Beyond Health Care:...
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...Fund, 2001–2003. Director, Harvard Center for International Development, 2003–2004. Professor of Economics and International Affairs, Princeton University, 1992–94; Charles and Marie Robertson Professor of International Affairs, 1995–1999. Professor of Economics, University of California at Berkeley, 1989–1991. Associate Professor of Economics, University of Wisconsin-Madison, 1985–1988. Economist, International Finance Division, Board of Governors of the Federal Reserve System, 1980–1983; Section Chief, Trade and Financial Studies Section, 1984. Economist, Research Department, International Monetary Fund, Oct. 1982 – Sept. 1983. VISITING POSITIONS BP-LSE Visiting Centennial Professor, London School of Economics, 1998–99 academic year. Morgenstern Visiting Professor of Economics, New York University, spring semester 1995. Visiting Scholar, Bank of Japan, Institute for Monetary and Economic Studies, summer 1991. Visiting Scholar, Research Department, World Bank, summer 1989. Visiting Scholar, Board of Governors of the Federal Reserve System, International Finance Division, 1988, 1994....
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...actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy. The Federal Reserve controls the three tools of monetary policy--open market operations, the discount rate, and reserve requirements. The Board of Governors of the Federal Reserve System is responsible for the discount rate and reserve requirements, and the Federal Open Market Committee is responsible for open market operations. Using the three tools, the Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks and in this way alters the federal funds rate. The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight. Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services. Structure of the FOMC The Federal Open Market Committee (FOMC) consists of twelve members--the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining...
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...Cherry Gregory 5450 S Prairie Chicago, IL, 60615 HOME: (773) 633-3409 / MOBILE: (773) 368-4038 E-MAIL: cherrygregory31@yahoo.com OBJECTIVE: To benefit an organization that seeks a hard skilled worker to contribute well-developed communication skills, which are demonstrated through extensive customer service, answering multi-line phones, preparing reports and paperwork, and positive interaction with individuals at all levels. EDUCATION: University of Phoenix Chicago, IL 10-/2012- Present Major Business Administration COMPUTER SKILLS / ABILITIES: Proficient in IBM Microsoft Word, WordPerfect, Spreadsheet, Typing rate of 35 WPM, and Data entry/key strokes 9,500-10,000 EMPLOYMENT EXPERIENCE: 09/2007-Present CEDA/Smart Resources Chicago, IL Furnace Clerk/Data Entry Verify application to ensure all state and federal guidelines are being followed, maintain efficient file retrieval system, handle escalated calls from clients, prepare files for assessments and inspections, and maintain a strict database of accounts payable as well as client information. 09/2006 – 08/2008 Telesight Chicago, IL Phone Interviewer: Conducted telephone surveys for various Fortune 500 Companies (Sprint, Dell, Microsoft, ect.) capturing customers’ satisfaction with company’s products and services 10/2003-06/2006 Family Dollar...
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...What is the U.S. Federal Reserve System? Known as the “the Fed” or “Federal Reserve” Created in 1913 by the Congress Serves as the U.S. central bank Provides a secure, more stable, & flexible monetary and financial system Supervises/regulates banking institutions Structure of the Fed Two-part structure: - Board of Governors - Network with 12 Federal Reserve Banks Board of Governors and presidents of the Reserve Banks make monetary policy Board of Governors Government agency overlooks the Fed Located in Washington Seven-member Board appointed by the President and Senate serving 14-year terms appointed for long terms Shielded from political pressures Presidents of Reserve Banks 12 regional Federal Reserve Banks Also known as “district banks Nongovernmental organizations, with the publics interest on mind In San Francisco, Boston, New York, Philadelphia, Richmond, Atlanta, Cleveland, Kansas City, Dallas, Minneapolis, St. Louis, and Chicago Each of their branches have a board of directors Factors influencing discount rate Discount rate: interest rate charged to commercial banks/depository institutions on loans received from the Fed Factors: printing and lending it out money, consumer savings goes down, government borrows money the demand will go up and the interest rate will increase Supply ↑ then interest rates ↓ Demand ↑ then interest rates ↑ How does the discount rate affect the decisions of banks in setting their specific...
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...throughout capitalism’s ‘golden age’ “50 Years is Enough” In the final months of the Second world war, an architecture of stability for the international economy emerged. The United States and Britain, having already committed to each other with the signing of Mutual Aid Agreement(1941)1, vied to create a multilateral economic system to replace the international gold standard and its structural rigidity. The Bretton Woods agreement of 1944 established a dollar-gold standard of fixed, but adjustable, exchange rates of $US35 an ounce2. Which, according to Milton Friedman, “carried within it the seeds of its own destruction”3. The Institutions of neo-liberal global economic governance4, were formed; International Monetary Fund, & International Bank for Reconstruction and Development. The Twin Pillars of post-war order5, an “economic super-government”6 essentially adopting both; U.S. Inflation rates.7 and US political policies8. There has been no country in history that has emerged from war into such happy economic circumstances as the United States in 19459. General Maximum Price Regulation(1942) was signed after the attack on Pearl Harbour, controlling most prices beneath a price ceiling until '46, and imposing penalties on violations. In addition to a comprehensive ration system. In order to maximise profits without increasing prices, industries increased production, bolstering the US economy and expanding wartime production, The “arsenal of democracy”10 Elevating the US to the position...
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