Abstract This paper discusses the nature of the World Bank relative to its critics: both liberal and conservative. It offers cases for both supporters and detractors and concludes with benefits of the World Bank as an institution and the premise that the World Bank is still relevant. The essay concludes with comments by the World Bank President and his faith in the Bank's continued viability.
From the Paper "The World Bank is variously described as predator or prey, puppet or puppet master, depending on who is doing the describing. Many developing countries anxious for its aid might say it is a benevolent donor, whereas many others might describe it as a harsh task master. Yet, no one would argue that the World Bank has had an indelible influence on the global economy and that its mandate has grown considerably since its inception. However, given the direction of the world's economy and the growing divide between developed and under-developed countries, there is a growing call to reexamine the bank's mission within the new millennium's fully integrated and networked economy. As a recent article in the Lancet asks: "...does its approach really work?" (The 731). That remains to be seen."
Abstract This paper discusses the loan sale market and the participation of two different banks, the Bank of Montreal, and the Bank of Nova Scotia, noting that loan sale takes place when a financial institution originates a loan and then sells it to another institution. The paper further discusses how when loans are sold or traded, no new securities are created. The loan sale market is the market through which such transactions are made, and various institutions engage in this sort of transaction. As a rule, this means that a larger bank helps out a smaller bank and so reduces the risk to the smaller bank.
Abstract This paper compares and contrasts the practices of banks and credit unions regarding different types of consumer loans. An argument is made that the types of products offered by these different institutions is driven by their institutional make-up and their operational goals. Some scenarios are considered to determine what consumers might expect from these product offerings.
From the Paper "When consumers decide to borrow money in today's financial marketplace, they face more choices and must navigate around more dangers than ever before. Not only are there numerous instruments available to people of different financial means, each marketed in various ways and with varying levels of disclosure, there are also many different types of institutions accessible to them. This paper will compare and contrast the two most common institutions that make consumer loans, banks and credit unions, in terms of their structure, general loan policies, and common instruments. After laying the groundwork for each type of institution, several generic scenarios will be presented for typical consumers wishing to obtain a loan, in order to determine what kinds of offers might be made by a typical bank or credit union."
Abstract In this article, the writer introduces, discusses and analyzes the topic of the World Bank. Specifically, the writer analyzes the World Bank and its major accomplishments. The writer notes that, created in 1944, the World Bank's goal was to aid Europe after the end of World War II and it proved to be extremely valuable during the post-war reconstruction as world trade struggled. The writer describes that later the Bank sought a new financial role as global economic development transpired. The writer also discusses that the World Bank has struggled over the last few decades because the needs that necessitated the organization no longer exist. As the world's finances have grown more stable, many argue the organization's goals are obsolete and that the bank should close. The writer concludes that the World Bank may have served a purpose in the past, but in the future, it needs to reform for it to be relevant to today's world.
From the Paper "Many feel the World Bank has a central role in creating this globalized and western way of life. In addition, many critics believe the World Bank has irreparably damaged human rights and created massive social injustices in many of its projects.
"One example is the Pak Mun Dam Project in Thailand. The World Bank committed to the project in 1991, when Thailand was preparing to increase technologies in preparation for entering the world trade market. The main industries in the area of the dam were agriculture and fishing, and both were severely disrupted by the dam, leaving rural villagers without any means of survival or income. In addition, the dam created serious environmental impact on the surrounding area."
Abstract This paper discusses the banking system and looks at how safe the banking system really is. The paper explores the laws that govern these institutions in order to see if they are stringent enough to protect most consumers who utilize the banking system today. The paper begins with a brief history of the banking sector, from ancient basic banks to the modern day corporate structures which are more common. The paper then examines each of the major banking laws in place supposedly for the protection of the consumers.
From the Paper "So if banking and finance laws have been passed to protect investors and bank customers, is the banking system safer? Maybe, but because your money is in their vaults, the banks may have a measure of undue influence over you that you?re not even aware exists. Undue influence is defined as ?the domination of one party by the other in order to influence their judgement.? (Granger) With undue influence, there is no specific incident or single threat that occurs. ?The common law developed the doctrine of duress to define the limits of legitimate persuasion...equity developed undue influence to extend the reach of the law to other unacceptable means of persuasion.?"
Abstract The paper explores the use of securitization in the banking industry and the problems banks have regarding mortgages and recovering their money. The paper first examines the research on the Federal Reserve's role and then highlights how accountability has been a vital issue in the subprime housing mortgage industry. Next, the paper explains how the subprime crisis has brought to the light four flaws in the practice of securitization. The paper concludes that securitization and bank liquidity, while having been historically and traditionally utilized and considered to be acceptable, have resulted in a crisis stated by many to appear to be as strong as that of the Roaring 1920s leading into the Great Depression. The paper includes numerous graphs.
Outline:
Objective
Definitions and Terms of the Study
Introduction
International Monetary Fund
The Federal Reserve and the Testimony of Kohn
Banking Lessons
Creation of Banking Liquidity
Securitization and the Impact to Bank Lending
Securitization and Monetary Policy
Conclusion
From the Paper "Securitization activity is stated by Altunbas, Gambacorta and Marques to have enabled banks in their capacity in supplying new loans to households and firms for a given amount of funding." (2007) It is noted however, that changes may occur in this capacity depending upon conditions of the business cycle. During times of economic expansion characterized by little uncertainty in the view of investors of structured project evaluation. The definition applied to 'securitization' in the work of Altunbas, Gambacorta and Marques is that securitization "can be defined, in a broad way, as the process whereby individual bank loans and other financial assets are bundled together into tradable securities that are sold to the secondary market." (2007)The question is asked in the work of Altunbas, Gambacorta and Marques of "how does securitization affect the monetary transmission mechanism?" (2007)"
Abstract This paper examines the effects of Wal-Mart's unrivaled success on local communities and explores why Wal-Mart has recently been trying to create its own bank. The paper addresses the possible advantages and disadvantages of a Wal-Mart bank and how it would affect the economy. The paper also discusses how many believe that mixing commerce and banking will not benefit the economy even though a Wal-Mart bank would help lower bank fees and interest rates for the local population. The paper concludes that Wal-Mart has a tough battle ahead of if it wishes to pursue banking in the future.
From the Paper "Wal-Mart, being the largest retailer in the world, knows what they're doing. Their stores have become so large, that they are eliminating neighborhood "mom and pop shops". These smaller stores cannot compete with Wal-Mart's prices, and they eventually are forced to go out of business. This can be devastating to a local economy, especially in smaller cities, where a large portion of the city's income is earned through these "mom and pop shops". Because of these potentially devastating effects to the local economy, places like Inglewood, California voted down, by a 2-to-1 margin, a Wal-Mart funded ballot which would allow multiple stores to built in the area, on April 6,2004."
This paper discusses that the World Bank has contributed positively towards the achievement of growth and sustainable development for many of the poor nations in the world.
Abstract This paper explains that, after the world wars, the beginning of internationalism saw the formation of the World Bank, which became the United Nations? special agency. The author points out that, over the years, the World Bank has evolved from its initial role of an investment agency to a developmental assistance agency. The paper relates that the World Bank has been the target of environmentalists in many nations because of its approval and financial assistance involving projects that carried serious environmental risk factors, such as the construction of dams and mining operations, ignoring the dangers to the ecosystem, and the effects it has on the lives of the people in the region.
Table of Contents
Thesis
Introduction
History of World Bank and IMF
World Bank's Important Achievements
Problems
Misfired Policies
Conclusion
From the Paper "The World Bank is at the forefront of fighting against the AIDS epidemic that is ravaging the African continent. The bank has already approved $1 billion in 2003 and through the multi-country AIDS program it has already allotted $600 million for 15 projects in Africa. Bulgaria was another economically ailing nation, which has benefited immensely from World Bank loans. The country, which was struggling in the early 1990?s, has managed to achieve economic stability with a 4% GDP growth in 2002. From 1990 till 2002, the nation has received more than $1,167 million in loans from the World Bank."
Abstract This paper examines the Japanese culture and its relationship to banking. The characteristics of Japanese banking are outlined, and two socio-economic constructs, known as the "zaibatsu" and "keiretsu", are discussed. These socio-economic constructs illustrate strong historical links between banks and industry in Japan. The differences between Japanese and Western capitalism are explained.
From the Paper "Several years ago, researchers began investigating the relationship between Japanese Capitalism and Western Capitalism. Johnson (1993) pointed out that the differences between the two types of Capitalism are profound and point to changing and evolving theories of economics. This dichotomy of attitudes is the result, suggests Johnson, of many factors, most predominant of which was a certain blindness on the part of the West to acknowledge that Japanese capitalism was indeed different from the laissez-faire construct of the West (Aoki, 1988)."
Abstract This paper considers whether the move to the Islamic banking market is viable for financial institutions. Included is an examination of the differences between Islamic banking rules and western rules, the potential size of the market, examples of successful Islamic financial institutions and the factors that contribute to the success of these institutions. Success factors including corporate culture, marketing considerations as well as financial issues are also explored to determine whether this market is a viable one for western financial institutions.
Table of Contents
Chapter One
Introduction
Background
Statement of the Problem
Definition of Terms
Purpose of the Study
Significance of the Study
Scope of the Study
Limitations of the Study
Research Questions
Overview of the Study
Chapter Two
Review of Related Literature
Western Banking Systems
The Sharia and Financial Transactions
Islamic Financial Institutions
Analysis of the Islamic Financial Market
Western Financial Institutions in the Islamic Sector
External Considerations
Chapter Three
Methodology
Research Design and Approach
Population and Sample
Calculation and Tabulation of Data
Data Analysis Procedures
Reliability and Validity of the Data
Chapter Four
Analysis of the Data
Chapter Five
Summary, Conclusions and Recommendations
Summary
Conclusions
Recommendations
Works Cited
From the Paper "This way of using the language significantly distinguishes savings and loan associations from the activities that are undertaken by the commercial banks (Lawai, 1994; Bakar, 1999; Gambling, 1978). Credit unions also have various features that distinguish them in many ways from the more standard banks and from the savings and loan associations as well (Davidson, 1998). Concerning credit unions, it has been said that "like the savings associations, credit unions have traditionally been limited by statute to involvement in noncommercial deposit and consumer lending activities. However, while the savings associations have tended to expand their activities to the point where they may rival commercial banks in the offering of certain types of products and services in certain geographic markets, credit unions have to a greater extent maintained their original role. They specialize in providing more modest financial services to member/customers delineated in relatively narrow terms" (Maududi, 1975)."
Researches the performance of federal mortgage lending agencies and conventional lenders in relation to both risk-based pricing policies and higher mortgage loan limit policies.
Abstract This study investigated the effects of programs dealing with risk-based pricing and increased mortgage loan limits on mortgage approval rates for low- and moderate-income households. The research performed for the study found that risk-based pricing policies did have a positive impact on the extension of residential mortgages to low- and moderate-income applicants, in that rejection rates associated with risk-based factors declined. The research performed also found that higher mortgage limit policies had a positive impact on the extension of residential mortgages to low- and moderate-income applicants, in that rejection rates associated with risk-based factors declined. Lastly, the research results indicated that higher mortgage limit policies had a greater positive impact than did risk-based pricing policies.
Table of Contents
Introduction
Problem Statement
Research Questions
Study Purpose
Significance of the Study
Definitions of Terms
Delimitations of the Study
Overview of the Remainder of the Study
Review of the Literature
Systems Theory
Systems Theory and the Mortgage Lending Model
Mortgage Lending Markets
Past Discrimination in Mortgage Lending
Summary
Methodology
Research Design
Research Hypotheses
Variables and Operational Definitions
Data Collection
Data Analysis
Methodological Limitations
Summary
Results
Problems with the Data
Restatement of the Research Questions
Restatement of the Hypotheses
Restatement of Operational Definitions
Restatement of Data Analysis Procedures
Research Results
Summary, Discussion and Conclusions
Discussion
Conclusions
Appendix: Data Tables
Bibliography
From the Paper "The effort to improve accessibility to residential mortgage finance for low- and moderate-income individuals and families tends to be impeded by a system that has become entrenched. This existing system is an interlocking structure of public and private sector players that has developed rules and processes with which they are comfortable and which they are reluctant to change. The existing system for the extension of residential mortgages also involves both the primary and the secondary mortgage markets, as well as credit review and reporting agencies. The system in place was never intended to provide access to residential mortgages to low- and moderate-income persons except within the framework of specific governmental programs targeting such individuals. These specific programs involved direct public funding, government guaranteed repayment of loans extended by private sector lenders, or subsidies to developers and builders."
Abstract This paper discusses the importance of bank performance and management strategies, what objective should the procedure accomplish and the importing of liquidity management. It outlines the most important measurements of bank performance and management - strategic planning, creating indicators, developing data measurement system, implementing programs, refining measurements and keeping up with new technologies.
From the Paper "Every financial institution agrees that strategic management and planning are the main factors that make a bank run smoothly. Bank performance and management strategies are constantly being applied and updated to increase efficiency, effectiveness and become more economical in running bank operations. There are no specific rules or standards that will run smoothly for each and every bank. The most effective strategies for each financial institution depend on the goals, management, status and character of the employees and managers. Performance and management strategies done correctly take effort and time, and should be planned with the purpose to guide effective business decisions. In this essay, we will be discussing the importance of bank performance and management strategies, what objective should the procedure accomplish and we will discuss the importing of liquidity management."
Abstract This paper examines the commercial banking industry and presents the statistical facts of several financial services firms. The paper discusses Citigroup, Inc., Bank of America, J.P. Morgan Chase, Wachovia, and Wells Fargo. The paper describes how applications of new technology have radically transformed the financial services industry.
From the Paper "In 2003, Citigroup, Inc. was the world's largest financial services firm. It sold $94,713 million by December at annual growth rate of 2.3% (Caione 2004) and netted profits at $ 17,853 at an annual rate of 16.9%. With its numerous subsidiaries, Citigroup offers banking loans, asset management, insurance, investment bank and virtually every other retail and corporate financial service conceivable through its more than 3,000 bank branches and finance offices in the US and Canada and 1,500 other locations in close to 100 other countries worldwide (Caione)."
Abstract In this paper, the writer shows that the problems that weigh against students loans is greatly outdone by the positive affects of allowing an unfortunate student to attend college. The writer discusses that financial aid, in this manner, is by far the most important aspect of allowing a student to better him or herself, through a no money down student loan to pay for tuition and other costs. The writer notes that a student may be left with a large debt after college, due to failure to finish or succeed at their education. The writer concludes that in this manner, a student loan is a form of financial aid that allows poor or monetarily troubled students to gain the same education.
Outline:
Introduction
Financial Aid Benefits
Background History of Student Loans Student Loan's Get the Underprivileged Student into School
Problems with Student Loans and Debt
Conclusion
From the Paper "This argumentative essay persuades the reader to realize how financial aid for students is a positive and supportive financial solution to attend college. In this regard, the student who is unable to afford college tuition can get a student loan, which allows them to gain the education they need for a good job. Although, the debt from loans can be burdensome after college in some cases, the ability through an education to find a job nullifies the inability to the debt accrued."
Abstract This paper provides a thorough history of the manner in which United States government has developed public policies that aims to increase opportunities for home ownership through direct housing grants, loan guarantees, and targeted tax breaks. It looks at the different laws and legislation which have been passed, discussing the advantages and disadvantages of each. The writer concludes that implementing a comprehensive home loan program targeted at low-income families would prove to be an efficient, cost-effective tool to help place all families within reach of the American dream.
From the Paper "Increasing low-income homeownership needs public assistance to succeed. While the federal government already allocates billions of dollars to housing, this money does not successfully promote low-income homeownership. It is largely targeted through the tax code to high-income homeowners through $58 billion of homeownership deductions and to low-income renters through HUD grants and the LIHTC programs. These rental assistance programs fulfill serve an important need but fail to successfully increase homeownership or build family assets. "
