How is the US Senate Organized

The Senate is one branch of the United States Congress, which is one of three branches of government.On 4 March 1789, the Senate convened for the first time at New York Citys Federal Hall. On 6 December 1790, Congress began a ten-year residence in Philadelphia. On 17 November 1800, Congress convened in Washington, DC. In 1909, the Senate opened its first permanent office building, which was named in honor of Sen. Richard B. Russell (D-GA) in 1972.Much of how the Senate is organized is enumerated in the US Constitution: The Senate of the United States shall be composed of two Senators from each State, chosen by the Legislature thereof, for six Years.US Constitution, Article I, Section 3, Clause 1 Great Compromise Constitutional Convention James Madison Federalist papers Immediately after they shall be assembled in Consequence of the first Election, they shall be divided as equally as may be into three Classes.US Constitution, Article I, Section 3, Clause 2 100 Senators No Person shall be a Senator who shall not have attained to the Age of thirty Years, and been nine Years a Citizen of the United States, and who shall not, when elected, be an Inhabitant of that State for which he shall be chosen.US Constitution, Article I, Section 3, Clause 3 The Vice President of the United States shall be President of the Senate, but shall have no Vote unless they be equally divided.US Constitution, Article I, Section 3, Clause 4 constitutional convention The Senate shall chuse their other Officers, and also a President pro tempore, in the Absence of the Vice President, or when he shall exercise the Office of President of the United States.US Constitution, Article 1, Section 3, Clause 5 Vice President Next: Senate: Constitutional Powers The US Constitution enumerates powers held by the Senate. This article examines the power of impeachment, treaty, appointments, war declaration and expulsion of members. The Senate shall have the sole Power to try all Impeachments . . . And no Person shall be convicted without the Concurrence of two thirds of the Members present.US Constitution, Article I, section 3, clause 6 Alexander Hamilton [The President] shall have Powers, by and with the Advice and Consent of the Senate, to make Treaties, provided two thirds of the Senators present concur ...US Constitution, Article II, section 2, clause 2 [The president] shall nominate, and by and with the Advice and Consent of the Senate, shall appoint Ambassadors, other public Ministers and Consuls, Judges of the supreme Court, and all other Officers of the United States ...US Constitution, Article II, section 2, clause 2 legislative branches Articles of Confederation The Congress shall have Power: To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water...US Constitution, Article 1, Section 8 Each House [of Congress] may determine the Rules of its proceedings, punish its members for disorderly behavior, and, with the concurrence of two-thirds, expel a member.US Constitution, Article I, Section 5 filibuster filibuster Vice President Aaron Burr John Hipple Mitchell (R-OR-1905). Mitchell was indicted and convicted of having received fees for expediting the land claims of clients before the U.S. Land Commissioner. An appeal was pending when he died in December 1905. Source: US Senate Joseph R. Burton (R-KS-1906). Burton was convicted in 1904 (and again on appeal in 1906) of illegally receiving compensation for services rendered before a federal department and served five months in prison. He resigned rather than be expelled. Source: US Senate Truman H. Newberry (R-MI-1920). In 1921, Newberry was tried and convicted of election irregularities; the conviction was reversed by the Supreme Court, and, following an investigation, the Senate declared Newberry entitled to his seat but expressed disapproval of the sum spent on his election. In the face of a movement to unseat him, Newberry resigned. Source: US Senate Harrison Williams (D-NJ-1982). Williams was one of the congressional targets in the government operation known as A BSCAM. He was convicted of corruption and served 21 months of a three-year prison term. Rather than be expelled, he resigned his Senate seat on 11 March 1982. Source: US Senate Since 1789, the Senate has expelled only 15 members; 14 were charged with supporting the Confederacy during the Civil War. 1797; William Blount (R-TN). Charge: Anti-Spanish conspiracy; treason. Result: Expelled 1808; John Smith (R-OH). Charge: Disloyalty/Treason Result: Not Expelled 1858; Henry M. Rice (D-MN). Charge: Corruption. Result: Not Expelled. Date: 1861; James M. Mason (D-VA) Charge: Support for Confederate rebellion. Result: Expelled 1861; Robert M.T. Hunter (D-VA). Charge: Support for Confederate rebellion. Result: Expelled 1861; Thomas L. Clingman (D-NC). Charge: Support for Confederate rebellion. Result: Expelled 1861; Thomas Bragg (D-NC). Charge: Support for Confederate rebellion. Result: Expelled 1861; James Chesnut, Jr. (D-SC). Charge: Support for Confederate rebellion. Result: Expelled 1861; Alfred O.P. Nicholson (D-TN). Charge: Support for Confederate rebellion. Result: Expelled 1861; William K. Sebastian (D-AR). Charge: Support for Confederate rebellion. Result: ExpelledNote: On March 3, 1877, the Senate reversed its decision to expel Sebastian. Because Sebastian had died in 1865, his children were paid an amount equal to his Senate salary between the time of his expulsion and the date of his death. 1861; Charles B. Mitchel (D-AR). Charge: Support for Confederate rebellion. Result: Expelled 1861; John Hemphill (D-TX). Charge: Support for Confederate rebellion. Result: Expelled 1861; Louis T. Wigfall (D-TX). Charge: Support for Confederate rebellion. Result: Expelled 1861; John C. Breckinridge (D-KY). Charge: Support for Confederate rebellion. Result: Expelled 1862; Lazarus W. Powell (D-KY). Charge: Support for Confederate rebellion. Result: Not Expelled 1862; Trusten Polk (D-MO). Charge: Support for Confederate rebellion. Result: Expelled 1862; Waldo P. Johnson (D-MO). Charge: Support for Confederate rebellion. Result: Expelled 1862; Jesse D. Bright (D-IN). Charge: Support for Confederate rebellion. Result: Expelled 1862; James F. Simmons (R-RI). Charge: Corruption. Result: Resigned 1873; James W. Patterson (R-NH). Charge: Corruption. Result: Term Expired 1893; William N. Roach (D-ND). Charge: Embezzlement. Result: Not Expelled 1905; John H. Mitchell (R-OR). Charge: Corruption. Result: Not Expelled.Note: Mitchell died on December 8, while his case was still on appeal and before the Senate. 1906; Joseph R. Burton (R-KS). Charge: Corruption. Result: Resigned.Note: Burton was indicted and convicted of receiving compensation for intervening with a federal agency. When the Supreme Court upheld his conviction, he resigned rather than face expulsion. 1907; Reed Smoot (R-UT). Charge: Mormonism. Result: Not Expelled 1919; Robert M. La Follette (R-WI). Charge: Disloyalty (for giving a speech in 1917 opposing US entry into World War I). Result: Not Expelled 1922; Truman H. Newberry (R-MI). Charge: Election fraud. Result: Resigned 1924; Burton K. Wheeler (D-MT). Charge: Conflict of interest. Result: Not Expelled 1934; John H. Overton (D-LA). Charge: Election fraud. Result: No Senate action 1934; Huey P. Long (D-LA). Charge: Election fraud. Result: No Senate action 1942; William Langer (R-ND). Charge: Corruption. Result: Not Expelled 1982; Harrison A. Williams, Jr. (D-NJ). Charge: Corruption (ABSCAM). Result: Resigned 1995; Robert W. Packwood (R-OR). Charge: Sexual misconduct and abuse of power. Result: Resigned the day after the Committee on Ethics issued its recommendation for expulsion. Source: US Senate Censure is a less severe form of discipline than expulsion. Since 1789 the Senate has censured only nine members. January 2, 1811.Timothy Pickering (F-MA). Charge: Reading confidential documents in open Senate session before an injunction of secrecy was removed.Result: Censured. Failed reelection (elected to the House in 1812).Vote: 20-7 May 10, 1844Benjamin Tappan (D-OH)Charge: Releasing to the New York Evening Post a copy of President John Tylers message to the Senate of April 22, 1844 regarding the treaty of annexation between the United States and the Republic of Texas.Result: Censured. Did not run for reelection.Vote: 38-7 February 28, 1902Benjamin R. Tillman (D-SC) and John L. McLaurin (D-SC)Charge: Fighting in the Senate chamber on February 22, 1902.Result: Each was censured and suspended, retroactively, for six days. This incident led to the adoption of Rule XIX governing the conduct of debate in the chamber. Tillman -- reelected; McLaurin -- did not run for reelection.Vote: 54-12; 22 not voting November 4, 1929Hiram Bingham (R-CT)Charge: Employing as a Senate staff member Charles Ey anson, who was simultaneously employed by the Manufacturers Association of Connecticut. Eyanson was hired to assist Bingham on tariff legislation. The issue broadened into the question of the government employing dollar-a-year-men.Result: Condemned for conduct tending to bring the Senate into dishonor and disrepute. Defeated for reelection.Vote: 54-22; 18 not voting December 2, 1954Joseph R. McCarthy (R-WI)Charge: Abuse and non-cooperation with the Subcommittee on Privileges and Elections during a 1952 investigation of his conduct; for abuse of the Select Committee to Study Censure.Result: He was condemned. Died in office.Vote: 67-22 June 23, 1967Thomas J. Dodd (D-CT)Charge: Use of his office (1961-1965) to convert campaign funds to his personal benefit. Conduct unbecoming a senator.Result: Censured. Defeated for reelection.Vote: 92-5 October 11, 1979Herman E. Talmadge (D-GA)Charge: Improper financial conduct (1973-1978), accepting reimbursements of $43,435.83 for official expens es not incurred, and improper reporting of campaign receipts and expenditures.Result: His conduct was denounced as reprehensible and tending to bring the Senate into dishonor and disrepute. Defeated for reelection.Vote: 81-15 July 25, 1990David F. Durenberger (R-MN)Charge: Unethical conduct in connection with his arrangement with Piranha Press, his failure to report receipt of travel expenses in connection with his Piranha Press and Boston area appearances, his structuring of real estate transactions and receipt of Senate reimbursements in connection with his stays in his Minneapolis condominium, his pattern of prohibited communications respecting the condominium, his repeated acceptance of prohibited gifts of limousine service for personal purposes, and the conversion of a campaign contribution to his personal use.Result: Denounced for reprehensible conduct, bringing the Senate into dishonor and disrepute. Did not run for reelection.Vote: 96-0 Source: US Senate

Introduction of Banking Sector - Free Essay Example

Sample details Pages: 14 Words: 4322 Downloads: 2 Date added: 2017/09/16 Category Economics Essay Type Argumentative essay Tags: Economy Essay Globalization Essay Did you like this example? GENERAL INTRODUCTION ABOUT THE SECTOR The Indian economy is emerging as one of the strongest economy of the world with the GDP growth of more than 8% every year. This has given a great support for the development of banking industry in the country. Due to globalization, competition among the banks has drastically been increased. As India has a substantial upper and middle class income hence the banks have immense opportunities to increase their market shares. The consumer being on the receiving end is in the comfortable position but the banks trying to increase their market share have to continuously add value for consumers in order to increase market share and sustain their growth. BANKING SECTOR The banking sector is the most dominant sector of the financial system in India. Significant progress has been made with respect to the banking sector in the post liberalization period. The financial health of the commercial banks has improved manifolds with respect to capital ad equacy, profitability, and asset quality and risk management. Further, deregulation has opened new opportunities for banks to increase revenue by diversifying into investment banking, insurance, credit cards, depository services, mortgage, securitization, etc. Liberalization has created a more competitive environment in the banking sector INDUSTRY PROFILE a) ORIGIN AND DEVELOPMENT OF THE INDUSTRY The origin of banking in India is traceable in ancient time through the modern banking hardly 200 years old. The main function of bank is to accept deposits and grant loans. There is evidence of these functions being performed by a section of the community in the Vedic periods. There are many references of debt in the Vedic literature. During the Ramayana and Mahabharata areas banking, which was a side business during the Vedic period, become a fulltime business activity for the people. During the smriti period, which followed the Vedic period and the Epic age, bankers performed the f unction of the modern banks. The members of the Vaish community carried on the banking business and Manu speaks of earning through interest as the business of Vaishays. He accepted deposits from the public, granted loans against pledges and personal security, granted simple open loans, acted as bailee for his customers, subscribed to public loans by granting loans to kings, acted as treasurer and banker to the state and managed the currency of the country. Indigenous bankers used to maintain a regular system of accounts and borrowers used to sign the loan deeds. Banking in India originated in the last decades of the 18th century. The oldest bank in existence in India is the State Bank of India, a government-owned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the then Imperial Bank of India, rel egating it to commercial banking functions. After Indias independence in 1947, the Reserve Bank was nationalized and given broader powers. In 1969 the government nationalized the 14 largest commercial banks; the government nationalized the six next largest in 1980. Currently, India has 88 scheduled commercial banks (SCBs) 27 public sector banks (that is with the Government of India holding a stake), 31 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 per cent of total assets of the banking industry, with the private and foreign banks holding 18. 2% and 6. 5% respectively. Early history Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and the Ban k of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1925 to form the Imperial Bank of India, which, upon Indias independence, became the State Bank of India. Indian merchants in Calcutta established the Union Bank in 1839, but it failed in 1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India. It was not the first though. That honour belongs to the Bank of Upper India, which was established in 18 63, and which survived until 1913, when it failed, with some of its assets and liabilities being transferred to the Alliance Bank of Shimla. When the American Civil War stopped the supply of cotton to Lancashire from the Confederate States, promoters opened banks to finance trading in Indian cotton. With large exposure to speculative ventures, most of the banks opened in India during that period failed. The depositors lost money and lost interest in keeping deposits with banks. Subsequently, banking in India remained the exclusive domain of Europeans for next several decades until the beginning of the 20th century. Foreign banks too started to arrive, particularly in Calcutta, in the 1860s. The Comptoire dEscompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in Madras and Pondicherry, then a French colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the most active trading port in India, mainly due to the trade of the British Empire, and so became a banking center. [pic] The Bank of Bengal, which later became the State Bank of India. The first entirely Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad. It failed in 1958. The next was the Punjab National Bank, established in Lahore in 1895, which has survived to the present and is now one of the largest banks in India. Around the turn of the 20th Century, the Indian economy was passing through a relative period of stability. Around five decades had elapsed since the Indian Mutiny, and the social, industrial and other infrastructure had improved. Indians had established small banks, most of which served particular ethnic and religious communities. The presidency banks dominated banking in India but there were also some exchange banks and a number of Indian joint stock banks. All these banks operated in different segments of the economy. The exchange banks, mostly owned by Europeans, concentrated on financi ng foreign trade. Indian joint stock banks were generally undercapitalized and lacked the experience and maturity to compete with the presidency and exchange banks. This segmentation let Lord Curzon to observe, In respect of banking it seems we are behind the times. We are like some old fashioned sailing ship, divided by solid wooden bulkheads into separate and cumbersome compartments. The period between 1906 and 1911, saw the establishment of banks inspired by the Swadeshi movement. The Swadeshi movement inspired local businessmen and political figures to found banks of and for the Indian community. A number of banks established then have survived to the present such as Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India. The fervour of Swadeshi movement lead to establishing of many private banks in Dakshina Kannada and Udupi district which were unified earlier and known by the name South Canara ( South Kanara ) district. Four nationalised banks started in this district and also a leading private sector bank. Hence undivided Dakshina Kannada district is known as Cradle of Indian Banking. From World War I to Independence The period during the First World War (1914-1918) through the end of the Second World War (1939-1945), and two years thereafter until the independence of India were challenging for Indian banking. The years of the First World War were turbulent, and it took its toll with banks simply collapsing despite the Indian economy gaining indirect boost due to war-related economic activities. At least 94 banks in India failed between 1913 and 1918 as indicated in the following table: |Years |Number of banks |Authorised capital |Paid-up Capital | | |that failed |(Rs. Lakhs) |(Rs. Lakhs) | |1913 |12 |274 |35 | |1914 |42 |710 |109 | |1915 |11 |56 |5 | |1916 |13 |231 |4 | |1917 |9 |76 |25 | |1918 |7 |209 |1 | Post-independence The partition of India in 1947 adversely impacted the economies of P unjab and West Bengal, paralyzing banking activities for months. Indias independence marked the end of a regime of the Laissez-faire for the Indian banking. The Government of India initiated measures to play an active role in the economic life of the nation, and the Industrial Policy Resolution adopted by the government in 1948 envisaged a mixed economy. This resulted into greater involvement of the state in different segments of the economy including banking and finance. The major steps to regulate banking included: †¢ In 1948, the Reserve Bank of India, Indias central banking authority, was nationalized, and it became an institution owned by the Government of India. †¢ In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) to regulate, control, and inspect the banks in India. †¢ The Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the RBI, and no tw o banks could have common directors. However, despite these provisions, control and regulations, banks in India except the State Bank of India, continued to be owned and operated by private persons. This changed with the nationalisation of major banks in India on 19 July, 1969. Nationalisation By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. At the same time, it has emerged as a large employer, and a debate has ensued about the possibility to nationalise the banking industry. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference of the All India Congress Meeting in a paper entitled Stray thoughts on Bank Nationalisation. The paper was received with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI issued an ordinance and nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. Jayaprakash Narayan, a national leader of India, described the step as a masterstroke of political sagacity. Within two weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August, 1969. A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit delivery. With the second dose of nationalization, the GOI controlled around 91% of the banking business of India. Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It was the only merger between nationalized banks and resulted in the reduction of the number of nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy. The nationalised banks were credited by some, including Home minister P. Chidambaram, to have helped the Indian economy withstand the global financial crisis of 2007-2009. Liberalisation In the early 1990s, the then Narsimha Rao government embarked on a policy of liberalization, licensing a small number of private banks. These came to be known as New Generation tech-savvy banks, and included Global Trust Bank (the first of such new generation banks to be set up), which later amalgamated with Oriental Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalized the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%, at present it has gone up to 49% with some restrictions. The new policy shook the Banking sector in India completely. Bankers, till this time, were used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at 4) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks. All this led to the retail boom in India. People not just demanded more from their banks but also received more. Currently, banking in India is generally fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true. With the growth in the Indian economy expected to be strong for quite some time-especially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. One may also expect MAs, takeovers, and asset sales. In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them. In recent years critics have charged that the non-government owned banks are too aggressive in their loan recovery efforts in connection with housing, vehicle and personal loans. There are press reports that the banks loan rec overy efforts have driven defaulting borrowers to suicide. BANKING SYSTEM The oxford dictionary defines the bank as â€Å"an establishment for the custody of money, which it pays out, on a customers’ order. † A banking company in India has been defined in the banking companies Act 1949, as â€Å"one which transacts the business of banking which means the accepting, for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawals by cheque, draft, order or otherwise. The banking system in an integral sub-system of the financial system. It represents an important channel of collecting small savings from the households and lending it to the corporate sector. The Indian Banking system has the Reserve Bank of India (RBI) as the apex body for all matters relating to the banking system. It is the’ central bank’ of India. It is the banker to all other banks. Classification of banks: 1. Non-scheduled Banks: These are banks, which are not included in the Second schedule of the Banking Regulation Act, 1965. It means they do not satisfy the conditions laid down by that schedule. They are further classified as follows: *Central Co-operative Banks and Primary Credit Societies. *Commercial Banks. 2. Scheduled Banks: Scheduled Banks are banks, which are included in the second schedule of the Banking Regulation Act, 1965. According to this schedule a scheduled bank: Must have paid-up capital and reserve of not less than Rs. 5,00,000; Must also satisfy the RBI that its affairs are not conducted in a manner detrimental to the interests of its depositors. Scheduled banks are sub-divided as: *State – cooperative banks. *Commercial banks. State – cooperative banks: These are Co-operatives owned and managed by the state. Commercial banks: These are business entities whose main business is accepting deposits and extending loans. Their main objective is profit maximizat ion and adding shareholder value. These are further sub-divided as: *Indian Banks: These banks are companies registered in India under the Companies Act. Their place of origin is in India. These are also sub-divided as: State Bank of India and its Subsidiaries: This group comprises of the State Bank of India (SBI) and its seven subsidiaries viz. , State Bank of Patiala, State Bank of Hyderabad, State Bank of Travancore, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Saurastra, State Bank of Indore. Other Nationalized Banks: This group consists of private sector banks that were nationalized. The Government of India Nationalized 14 private banks in 1969 and another 6 in the year 1980. Regional Rural Banks: These were established by the RBI in the year 1975 of Banking Commission. It was established to operate exclusively in rural areas to provide credit and other facilities. Old Private Sector Banks: This group consists of banks that were established by th e privy states, community organizations or by a group of professional for the cause of economic betterment in their area of operations. Initially their operations were concentrated in a few regional areas. New Private Sector Banks: These banks were started as profit oriented companies after the RBI opened the banking sector to the private sector. These banks are mostly technology driven and better managed than other banks. Foreign Banks: These are banks that were registered outside India and had originated in a foreign country. Retail Banking According to investopedia. com, retail banking is typical mass-market banking where individual customers use local branches of larger commercial banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth. Types Of Retail Banks 1. Private bank Private Banks is a bank that is not incorporated. Either an individual or a general partner(s) with limited partner(s) owns a non- incorporated bank. In any such case, the creditors can look to both the entirety of [the banks] assets as well as the entirety of the sole- proprietors/general-partners assets. These banks have a long tradition in Switzerland, dating back to at least the revocation of the Edict of Nantes (1685). 2. Commercial banking A commercial bank is a type of financial intermediary and a type of bank. Commercial bank has two possible meanings: Commercial bank is the term used for a normal bank to distinguish it from an investment bank. This is what people normally call a bank. The term commercial was used to distinguish it from an investment bank. Since the two types of banks no longer have to be separate companies, some have used the term commercial bank to refer to banks which focus mainly on companies. In some English-speaking countries outside North America, the term trading bank was and is used to denote a commercial bank. It raises funds by collecting deposits from businesses and co nsumers via checkable deposits, savings deposits, and time (or term) deposits. It makes loans to businesses and consumers. It also buys corporate bonds and government bonds. Its primary liabilities are deposits and primary assets are loans and bonds. Detailed information on banks sectoral exposure of credit reveals that over two-thirds of the credits flow has been on account of retail, housing and other priority sector loans. Banks credit flow exposure to large Enterprises continues to remain buoyant with recent indications that credit to agriculture and Micro credit has also picked up. The Investment Banking and Markets division brings together the advisory and financing, equity securities, asset management, treasury and capital markets, and private equity activities of the Group to complete the CIBM structure and provide a complete range of financial products to our clients. Increasingly, ECA financing is being considered by customers and we work closely with our project exp ort finance teams, both onshore and offshore, to provide structured solutions. Growth And Present Status Of The Industry Commercial banking can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to normal individual members of the public (retail banking). as in the Indian banking.. The most prominent on our minds in the context of banking these days, perhaps, are the implications arising out of the Basel II accord. Banks, as we all know, are subjected to more intense regulation as compared to the non-financial firms. This is probably because the banks possess certain special characteristics: Banks are much more leveraged than the other firms due to their capacity to garner public deposits. The asset liability structure of the banks is also different from not only the non-financial firms but also the financial firms. To illustrate, the risk in an insurance company arises mainly from the liabi lity side of the balance sheet in the form of insurance claims whereas for the bank the risk mainly comes from the diminution of asset values (for example, illiquid loans that are not fully recoverable). The deposits which constitute a major part of the liability of banks are repayable on demand, unsecured and their principal amount does not change in value whereas the loans of a bank are illiquid and there can be erosion in the value of loans or of other assets. The liquidity transformation by an insurance company is in the reverse direction as compared to a bank. The balance-sheet structure of an insurance company is the least likely to give rise to systemic risk, whereas banks due to their typical asset liability mismatches i. e. long term assets funded by short term liabilities, may be prone to ‘run’ and pose a very high degree of potential systemic risk. The resolution costs of systemic bank insolvencies and significant problems can be substantial weighted diffe rently. Basel I proposals forced the banks to look at credit risk and regulatory capital more closely than they had done earlier. As banks found ways to arbitrage regulatory capital, some of the provisions of Basel I became less relevant. Simultaneously, banks in the G-10 countries developed newer approaches to manage credit risk by building portfolio models for pricing, provisioning and allocating economic capital for the credit portfolios. These developments made the weaknesses in the Basel I framework more apparent and this set the stage for the creation of International Convergence of Capital Measurement and Capital Standards: A Revised Framework, popularly known as Basel II. The Basel Committee on Banking Supervision has observed that the fundamental objective in revising the 1988 Accord has been, and I quote, to develop a framework that would further strengthen the soundness and stability of the international banking system while maintaining sufficient consistency that c apital adequacy regulation will not be a significant source of competitive inequality among internationally active banks. The (Basel) Committee believes that the revised Framework will promote the adoption of stronger risk management practices by the banking industry, and views this as one of its major benefits. Future Of The Industry Reflecting on future prospects in banking, immediate focus has to be on the cleaning up of the remnants of undercapitalized banks, while concentrating on improvements in the rural co-operative credit system. It is also necessary to ensure improvements in their governance and financial management. In the banking system as a whole, a healthy credit culture encompassing appropriate pricing, quality of service, financial inclusion and contract enforcement would be vital. The Reserve Bank of India has, in the service of our country, a proven track record and professionalism, which have lent it considerable credibility – both domestically and gl obally. This credibility enables the RBI to confidently carry the reforms forward to credibly maintain price and financial stability, while enabling self-accelerating equitable growth at elevated levels. The Indian financial sector is ready for consolidation, said 95 per cent of the respondents. Given the increased competition, and the implementation of Basel II norms in the near future, the banking industry of the country would be better off with six to seven banks as big as State Bank of India, said the survey. However, voluntary mergers are better than forced ones. A majority of the public sector banks also demanded more autonomy to fix salary levels proportionate to performance. In order to improve employee productivity it is essential to offer competitive compensation packages at all levels, the survey said. About 92 per cent of the public sector banks respondents voiced that they do not have sufficient autonomy to offer attractive incentive packages to employees to ensur e commitment levels. Some banks also said that in one-years’ time, banks should be permitted to issue preference shares. According to the survey, some of the strengths of the banking industry are regulatory systems, economic growth, technological advancement, risk assessment systems and credit quality. Areas that need improvement include diversification of markets beyond big cities, human resources systems, size of banks, high transaction costs, infrastructure and labour inflexibilities. As per the survey some strategies that can help India achieve a world class banking system are consolidation, strict corporate governance norms, regional expansion within the country and outside, higher FDI limits and Free Trade Agreements with countries where India has comparative advantage in banking sector. Availability and reach of quality products is confined to just big cities. Thus it is essential now to expand the gamut of banking services both within India as well as outside, the survey said. However, banks in India are yet to effectively leverage technology. ICICI Bank has been acknowledged to be among the first to explore new mediums like Internet. India has among the lowest penetration of retail loans in Asia. Though the sector has been growing at around 15 per cent, there is still a huge opportunity to tap into. Interest rates on retail loans have been dropping rapidly too. For instance residential mortgages slumped by 7 per cent over the last four years. The entry of a number of banks in India in the last few years has helped provide increased coverage and a number of new products in the market, says Kamath. Banking sector today is estimated to be at Rs 17 trillion and total deposits are estimated at Rs 13 trillion. Don’t waste time! Our writers will create an original "Introduction of Banking Sector" essay for you Create order

`` Negroland And Fun Home `` By Margo Jefferson And Alison...

In Negroland and Fun Home, Margo Jefferson and Alison Bechdel both view their individual lives and identities as interacting with history. However, their perceptions of history differ vastly in that Jefferson identifies herself as both a spectator and player in a giant game of sociocultural history, while Bechdel perceives national history as a tape reeling alongside her life, shaping her worldview but serving as a backdrop amidst her individual life. In Negroland, Jefferson relates to and traces the sociocultural and racial history of Negroes that has shaped her niche in modern society and drastically changed her expectations and perspectives. In contrast, Bechdel does not explicitly cite history as an influential force but rather hints†¦show more content†¦Thus, expectations and conventions are imposed upon members of Negroland, such as Jefferson, so that they embody the privileges that arose over time from a complex and dynamic social hierarchy. For Jefferson, personal and racial histories are heavily interconnected, as denoted when she makes references to various historical and familial figures. Tracing the evolution of this hierarchy through the ages from the Civil War up to the present, Jefferson cites a fellow chronicler of Negroland, Anna Julia Cooper, the daughter of a slave and a slaveholder, a â€Å"Black Woman of the South† who criticizes the â€Å"masculinist† need to dominate domestically, nationally, and internationally; Cooper’s collective voice for the oppressed parallels Jefferson’s personal concern with race, gender, and class. However, Jefferson also emphasizes the collective Du Boisian â€Å"double consciousness† that Negroes in the Talented Tenth and in Negroland must face, thinking about â€Å"Them as Us,† forced to dismiss aspirations and professional duties and accept those in lower strata as equals (Jefferson 34). Jefferson undergoes a double consciousness of h er own in her childhood as well, when she is forced to conform to expectations due to her status as an upper-class Negro, expectations which force her â€Å"to be ambushed by insult and humiliation† even though these expectations are set to prevent errors and

Essay about Global Warming - 1260 Words

Global Warming The climate is changing. The earth is warming up, and there is now overwhelming scientific consensus that it is happening, and human-induced. With global warming on the increase and species and their habitats on the decrease, chances for ecosystems to adapt naturally are diminishing. Many are agreed that climate change may be one of the greatest threats facing the planet. Recent years show increasing temperatures in various regions, and increasing extremities in weather patterns. Research has shown that air pollutants from fossil fuel use make clouds reflect more of the sun’s rays back into space. This leads to an effect known as global dimming whereby less heat and energy reaches the earth. At first, it sounds like†¦show more content†¦We are fortunate that our modern societies have developed during the last 10,000 years of benignly warm, interglacial climate. But for more than 90 percent of the last two million years, the climate has been colder, and generally much colder, than today. The reality of the climate record is that a sudden natural cooling is far more to be feared, and will do infinitely more social and economic damage, than the late 20th century phase of gentle warming. The single human activity that is most likely to have a large impact on the climate is the burning of fossil fuels such as coal, oil and gas. These fuels contain carbon. Burning them makes carbon dioxide gas. Since the early 1800s, when people began burning large amounts of coal and oil, the amount of carbon dioxide in the earths atmosphere has increased by nearly 30%, and average global temperature appears to have risen between 1 ° and 2 °F.Carbon dioxide gas traps solar heat in the atmosphere, partly in the same way as glass traps solar heat in a sunroom or a greenhouse. For this reason, carbon dioxide is sometimes called a greenhouse gas. As more carbon dioxide is added to the atmosphere, solar heat has more trouble getting out. The result is that, if e verything else stayed unchanged, the average temperature of the atmosphere would increase. As people burn more fossil fuel for energy they add more carbon dioxide to the atmosphere. If thisShow MoreRelatedGlobal Warming And The Warming1544 Words   |  7 PagesGlobal warming has become a well conversed topic among scientists and peoples in the world today. There are extremists who do everything possible to stop contributing to the warming, but the average person does little to alleviate the issue and in many cases refuses to acknowledge that there is a problem at all. Dating back to millions of years ago, even before humanity was born, the world has always experienced one form or another of warming; so the warming seen today is not as bizarre as many mayRead MoreGlobal Warming And The Warming1353 Words   |  6 PagesGlobal Warming With it being the presidential election season the talk of global warming, also known as climate change has come up in conversation more. But should it be associated with whether you are republican or democrat? Global warming should not be rather you â€Å"believe† in because it is a stated fact. The definition by Oxford Dictionary declares that global warming is a gradual increase in the overall temperature of the earth s atmosphere generally attributed to the greenhouse effect causedRead MoreThe Warming And Global Warming1442 Words   |  6 PagesThe Warming World Around Us The world is warming and we cannot deny it, the longer we deny the larger the problem it will become. Global warming is affecting the world economy, the overall health of the population, and most importantly the environment that surrounds us. Ignoring this problem will not just make it suddenly disappear; the world has to make an effort to stop it while it can still be maintained. Accepting the fact that it is happening is just the first step, the next step is takingRead MoreGlobal Warming1677 Words   |  7 PagesThrough the eyes of most scientists, global warming is seen as a very serious and severe threat. The actions taken by humans, such as industry and consumption of fossil fuels plus the increase in population and agriculture have played a big part in global warming. If something is not done soon the results could be very bad. By the middle of the twenty first century, there is evidence that the Earth will be warmer than it has been at any time in human history, and quite possibly since theRead MoreGlobal Warming1410 Words   |  6 PagesGlobal warming was first mentioned by ‘Svante August Arrhenius in 1896’, but in ‘1753, Joseph Black discovered carbon dioxide’ and in ‘1827, Jean-Batiste Fourier suggested that atmospheric effect kept the earth warmer than it would otherwise be’, (Direct.gov. n.d. A history of climate change). Since this time, reports, and study have be done with graphs to show the impact of global warming and what could happen to our planet. In 1979, the first conference was held this was called ‘International climateRead MoreGlobal Warming1245 Words   |  5 PagesGlobal Warming The major threat of today’s world is global warming. Due to various reasons global warming turns out to be a serious issue in the last few years. Today people believe in global warming while this concept was not so much believed and people interpreted in some other meanings what was happening in the past. Global warming is amplification in the temperature of earth because of industrial pollution, fossil fuels, and agricultural practices caused by human being, other and natural gasRead MoreGlobal Warming1316 Words   |  6 PagesControversy over Global Warming One of the largest argued topics in our world today is over global warming. People argue that is real, and others argue that it is fake. The effects of global warming create a growing danger for the ecosystem we live in by damaging glaciers and weather patterns. Humans contribute to global warming yet non-believers will think otherwise. Global warming is the greatest challenge facing our planet. According to the IPCC (Intergovernmental Panel of Climate Change) mostRead Moreglobal warming1539 Words   |  7 Pagesof global climate over long periods of time. 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Capital Allocation and Delegation of Decision †Free Samples

Question: Discuss about the Capital Allocation and Delegation of Decision. Answer: Introduction: The current report aims to deal with three different case studies; the first is related to Dorquay Hotel. The budgeted room revenue for three months of the hotel has been computed by considering the expected room occupancy and expected average room rate. This has been validated further by explaining the way the management of the hotel has estimated the occupancy rate. The second case deals with the ethical issues related to Practical Solutions Limited and Dogto Limited to find out ethical issues and the merits and demerits of employee code of conduct to the former organisation. The final case study sheds light on computing the break-even for Chloe Enterprises along with evaluating the feasibility of the proposed change in the marketing strategy of the organisation. Calculation of budgeted room revenue for Dorquay Hotel: Particulars December January February Number of rooms 20 20 20 Average room rate $ 180 $ 198 $ 198 Room occupancy rate 90% 95% 85% Budgeted room revenue $ 3,240 $ 3,762 $ 3,366 For estimating the minimum length of stay, Dorquay Hotel estimates a period of high demand, which is followed by low demand. It accepts longer duration stays during arrival, while it rejects shorter duration stays (Butler Ghosh, 2015). This helps to raise occupancy during the slow period. In case of the hotel, such estimation has been accurate, as the room rate has increased by 10% in the month of January from December. In addition, the hotel has applied the maximum length of stay, when the rooms are sold out at higher rates (Collier, 2015).This is because the hotel has not accepted reservations at particular discounted rates for multiple night stays extending into the sold out period. It has been observed that there is no change in the average room rate in February; however, there is a fall in the occupancy rate due to adoption of such policy. The major ethical concerns include independence, objectivity and sincerity. Based on the provided facts, it could be observed that it is a paid for Mr Smith and his family to Los Angeles. This could lead to an impression that the trip is a token of gift, which could have effects on the selected software (Graham, Harvey Puri, 2015). Thus, at the time of undertaking the software decision, Mr Smith might be obliged to Dogto Limited due to the trip. From the perspective of the third party, a conflict of interest might arise along with lack of independence. Conversely, it would serve as an immense opportunity to obtain additional information regarding the software. An opportunity is inherent to suit the software users for obtaining an insight of the future plan related to software development. This would help in saving funds for Practical Solutions Limited, since they would not have to incur any expense for the trip. However, the suggestion of taking the family to a trip indicates that the trip is more of a gift (Hartman, DesJardins MacDonald, 2014).The appearance to the third parties and the effect on integrity, independence and integrity might be high and therefore, it is advised to Mr Smith to avoid the trip. It is necessary for the organisation to create its own code of conduct. The main benefits are that it would deliver a message to the staffs regarding the acceptable behaviour along with promoting an aura of credibility and trust around the business dealings (Mih?il?, 2014). This would increase the professionalism of the organisation and the management team would be able to foresee any ethical dilemmas. However, the demerit is that such code could not possibly cover all the situations and the staffs might be of the view that a minimum standard is set, which could be time consuming and costly to develop. In order to implement such measure effectively, the organisation needs to create a team from its existing employees to maintain the same and this, in turn, would act as positive motivation for the staffs. Particulars Units Selling price per unit $ 60 Less: Variable manufacturing cost per unit $ 28 Less: Variable marketing and distribution costs per unit $ 12 Contribution margin per unit $ 20 Fixed Costs: Annual fixed manufacturing costs $ 120,000 Annual fixed non-manufacturing costs $ 370,000 Total fixed costs $ 490,000 Break-even point (in units) 24,500 Break-even (in sales) $ 1,470,000 Particulars Units Annual sales volume 35,000 Break-even (in units) 24,500 Margin of safety (in units) 10,500 Margin of safety (in dollars) $ 630,000 Particulars Units Annual sales volume 32000 Contribution margin per unit $ 20 Total fixed costs $ 490,000 Profit $ 150,000 Particulars Units Selling price per unit $ 60 Less: Variable manufacturing cost per unit $ 28 Less: Variable marketing and distribution costs per unit $ 16 Contribution margin per unit $ 16 Annual fixed manufacturing costs $ 120,000 Annual fixed non-manufacturing costs $ 290,000 Total fixed costs $ 410,000 Units to be produced for achieving the same profit 35,000 Based on the above table, it could be stated that Chloe Enterprises needs to produce the same amount of units to achieve the same profit level. Thus, any change in the marketing strategy is not needed, since the production capacity would remain the same. Conclusion: From the above discussion, it could be found out that the Dorquay Hotel mainly focuses on longer duration stays, while the shorter duration stays are mostly avoided. It has adopted maximum length of stay, particularly during the peak seasons with no discount rates to the customers. In relation to the ethical issues, it has been assessed that the appearance to the third parties and the effect on integrity, independence and integrity might be high and therefore, it is advised to Mr Smith to avoid the trip. Finally, it has been found out that Chloe Enterprises needs to produce the same amount of units to achieve the same profit level. Thus, any change in the marketing strategy is not needed, since the production capacity would remain the same. References and Bibliographies: Birt,J., Chalmers, K., Maloney, S., Brooks, A., Oliver, J. (2014). Accounting: Business Reporting for Decision Making, 5th Edition. Wiley and Sons. Butler, S. A., Ghosh, D. (2015). Individual differences in managerial accounting judgments and decision making.The British Accounting Review,47(1), 33-45. Collier, P. M. (2015). Accounting for managers: Interpreting accounting information for decision making. John Wiley Sons. Graham, J. R., Harvey, C. R., Puri, M. (2015). Capital allocation and delegation of decision-making authority within firms.Journal of Financial Economics,115(3), 449-470. Hartman, L. P., DesJardins, J. R., MacDonald, C. (2014).Business ethics: Decision making for personal integrity and social responsibility. New York: McGraw-Hill. Mih?il?, M. (2014). Managerial accounting and decision making, in energy industry.Procedia-Social and Behavioral Sciences,109, 1199-1202. Nielsen, L. B., Mitchell, F., Nrreklit, H. (2015, March). Management accounting and decision making: Two case studies of outsourcing. InAccounting Forum(Vol. 39, No. 1, pp. 64-82). Elsevier. Oboh, C. S., Ajibolade, S. O. (2017). Strategic Management Accounting and decision Making.

Tools for Business Decision Making †Free Samples to Students

Question: Discuss about the Tools for Business Decision Making. Answer: Introduction: This report has been prepared to analyze the financial position of NATIONAL TAKAFUL COMPANY. In this report, various financial tactics and methods have been used to evaluate the position of the company in the market. NATIONAL TAKAFUL COMPANY is operating its business into ABU DHABI, UAE. This company has come into existence in 2011. It has been founded by National insurance company and National Islamic finance. Currently, 6 branches are operated by this company in the UAE market. The main operations of this company are to offer the Health Takaful to its employees (Home, 2017). Further, the economical condition of UAE is quite string right now. The country is performing well and the companies in this country are also achieving the high growth into the market. The growth of the company is continuously increasing (ADX, 2017). A financial analysis study has been performed over the company to analyze and investigate the position of the company. Ratio analysis, DU Pont analysis and trend analysis study has been done over the NATIONAL TAKAFUL COMPANY (Ansari, 2004). Ratio analysis study has been conducted over NATIONAL TAKAFUL COMPANY to analyze the profitability, liquidity and solvency position of the company. Through the profitability analysis, it has been found that the current net margin and ROE of the company is -14.97% and -17.37% which has been way better from last 2 years (Girling 2013). More, the liquidity position of the company has been analyzed. Through this study, it has been found that the company has managed the position of current assets and liabilities to manage the liquidity position. It has become better than last year. Lastly, the study has been done over the solvency position of the company. Through the analysis over the company, it has been found that the debt and equity position of the company has been lowered than last year. Company has reduced the level of the debt to manage the risk factor and a better position into the market (Heisinger, 2009). Through this study, it has been found that the market position of NATIONAL TAKAFUL COMPANY is becoming better year by year. The calculations have been given into the appendix. Further, the study has been done over the DU Pont analysis of the company. This study depict about the return on equity of the company. For conducting this study, net profit margin and the total asset turnover of the company has been analyzed and through these values, the return on equity of the company has been found. Return on equity is the value which is expected by the investors to get as a dividend from the company. The current net profit margin of the company has been analyzed through dividing the net profit margin of the company by total sales of the company. Through this analysis, it has been found that the net profit margin of the company is 0.42% whereas the total asset turnover of the company has also been analyzed through dividing the sales by total assets of the company and it has been found that the total asset turnover of the company is 0.2845 (Warren, Reeve Duchac, 2011). More, the return one equity of the company has been analyzed through multiplying the net profit margin and the total asset turnover of the company and the current ROE of the company is 0.12% which depict that the company would pay 0.12% of the total profit to each share holder of the company as dividend. The calculations have been given into the appendix. Further, the study has been done over the trend analysis of the company, through this analysis; it has been found that the position of the company is rapidly changing in every year. The study of trend analysis has been done over the income statement, balance sheet and cash flow statement of the company to analyze the changes which has take place into the financial performance and the figures in each year (Weygandt, Kimmel Kieso, 2009). Through this analysis, it has been found that the entire activities have been changed in every year in the financial reports of the company. Mostly, all the changes are depicting about the better performance and good result about the company. The calculations have been given into the appendix. Further, the study has been done over the industry and the position of the company in the industry. According to the insurance industry of UAE, it has been found that the positive changes are taken place into the performance of the industry. Earlier, this industry has faced various losses and due to which the performance of all the companies which are operating into this industry has been affected. But with the time, various positive changes have taken place into the position and the performance of the industry and thus the company position has also been improved (Index, 2017). The study over the company and the industry, cumulatively depict that the performance and the position has been way better in last few years and thus it is expected by the company to enhance and manage the better position in the market. Conclusion: Through the above study, it has been analyzed that various positive changes have taken place into the position of the company and due to which the performance of the company has also been improved. Through the financial analysis over the company, it has been concluded that the performance of the company is becoming better day by day. The current position of the company is not that much good but according to the last year, performance and the profitability position of the company has been improved. References: Morningstar. (2017). NATIONAL TAKAFUL COMPANY. Retrieved from https://financials.morningstar.com/income-statement/is.html?t=WATANIAregion=are available as on 6th Nov 2017. ADX. (2017). NATIONAL TAKAFUL COMPANY. Retrieved from https://www.adx.ae/English/Pages/default.aspx available as on 6th Nov 2017. Home. (2017). NATIONAL TAKAFUL COMPANY. Retrieved from https://takaful.ae/en/about-us/overview/ available as on 6th Nov 2017. Index (2017). Insurance industry. Retrieved from https://www.takaful.ae/english/index.aspx available as on 6th Nov 2017. Weygandt J., Kimmel P., Kieso D. (2009). Managerial Accounting:Tools for business decision making. John Wiley sons. Warren C., Reeve J. Duchac J. (2011). Financial and Managerail Accounting. Cengage Learning. Heisinger K. (2009). Essentials of Managerial Accounting. Cengage learning. Girling P. (2013). Operational Risk Management. John Wiley sons. Ansari S. (2004). Management Accounting: A Strategic Focus. Houghton Mifflin College Devision.