Abstract This paper explains that the trading policies of Merrill Lynch depend on the integrated management of its client-driven accurate positions, together with the associated hedging and financing; moreover, several trading habits make Merrill Lynch susceptible to market, credit, liquidity, process and other threats, which are practical and need exhaustive controls and supervision. The author points out that where suitable, credit risk alleviation methods comprise of the prerogative to need start-up collateral or margin, the privilege to cease transaction or get guarantees in case any untoward incidents happen, the prerogative to ask for the guarantee in the event when some exposure ceilings are crossed and the purchase of credit default safeguards. The paper stresses that, to respond in a better fashion to credit risk management, Merrill Lynch needs guarantees mainly from U.S. government and agencies securities, on several derivative business deals.
From the Paper "Liabilities in favor of other brokers and dealers linked to outstanding dealings are booked at the amount for which the securities were purchased, and the deal is squared off on the receipt of the securities from other brokers or dealers. As regards long-standing securities failed-to-receive, Merrill Lynch might buy the basic security in the market and look for payback for losses from the counterparty. Merrill Lynch has time-tested policies and measures for extenuating credit risk on principal dealings, inclusive of appraisal and setting up ceiling for credit exposure, maintaining collateral, and persistently evaluating the creditworthiness of counterparties."
A review of renewable energy and federal and state government tax credits being offered to businesses and consumers who purchase and install renewable energy systems.
Abstract This paper defines renewable energy, reviews the need for renewable energy and discusses the benefits of renewable energy use. The paper further discusses the tax credits that are currently being offered for the purchase and installation of renewable energy systems. The paper then analyzes the effectiveness of this tax creditpolicy.
From the Paper "There are many origins of renewable energy. Renewable energy can be derived from wind energy, water power, solar energy, geothermal energy, biomass as in liquid biofuel, biogas and solid biomass. Because of the large number of sources for renewable energy, the United States could be self sufficient in harvesting this form of energy which is one of the bonuses it offers. This is one of the reasons the federal government is now offering tax incentives for renewable energy systems. "One of the major goals of this policy is to reduce our dependence on imported oil and OPEC's influence on free market prices by utilizing more of our own domestic energy resources, including renewables" (News, p. 1). "
Abstract This paper examines the issue of foreign tax credit for corporations under IRC section 901(b)(1). The paper first explains foreign direct investment in order that we may understand the relevant issues. The paper then gets into the specifics regarding tax credits and issues where these foreign investment companies are concerned.
Outline:
Chapter One - Introduction
Chapter Two - Review of Case and Ruling Issues
Chapter Three - Methodology
Chapter Four - Case and Ruling Analysis
Chapter Five - Summary, Conclusions, and Recommendations
From the Paper "The first limitation that is important to note is that there is so little information about the case study subject in question - the foreign tax credit. While there is indeed some information, much of it comes from laws and rulings as opposed to studies and research articles. With that in mind it is important to note where the information that is being collected for the study of this issue is coming from. There is no reason not to use the information that is provided by others, but making sure that one is aware of where it comes from and what potential consequences that could have is of utmost importance when it comes to looking at the limitations that can be found in research. Making sure that the most accurate data available is used is significant and when something cannot be verified it should be pointed out in the study that it cannot be verified so that there is no further confusion as to whether that piece of information is legitimate or not for the study."
Abstract A look at the business policies and strategies of GE that have made it into such a successful company, according to Welch. It examines their marketing policies, thier unique treatment of employees and its policies for employee diversity. The history of the company is briefly discussed and the manner in which the company managed its stocks to ensure its success in recent years.
From the Paper "The historical success of General Electric is accounted in a very personal and real representation in Jack Welch's autobiography ?Jack Straight from the Gut.? The substantial nature of the exponential growth of General Electric from the time that Jack Welsh assumed the role of CEO until his retiring in 2001 is astounding. As an example, in 1980, GE Credit had 10 businesses and 11 billion in assets and was based only in North America. By 1990 GE Credit had 21 businesses 70 billion in assets and was based in three countries and by the year 2001 GE Capital as it is now known has 24 businesses 370 billion in assets and does business in 48 countries. Jack Welch gives credit to the diversity of business and a philosophy of controlled risk that provided consistent growth. (Welch 250)"
This paper addresses the credit report, including how and why a credit report is important and exactly how the credit report can impact the individual.
1,900 words (approx. 7.6 pages), 4 sources, 2002, $ 71.95
Abstract This paper addresses the credit report, including how and why a credit report is important and exactly how the credit report can impact the individual. This paper provides information first on the appropriate steps necessary to acquire a full credit report, and the reasons the average consumer might wish to do so. This paper then investigates the scams that accompany credit and credit reports in order to better inform the reader of the problems that might occur in acquiring a credit report through non- official channels.
Tags: BUSINESS / FINANCE, ECONOMICS, ACCOUNTING, the credit report
Abstract This paper discusses the advantages and disadvantages of credit risk management software as a risk mitigation tool. The author explains the use of credit-scoring models. The paper demonstrates the application of credit-scoring to CRM software.
From the Paper "For more than four decades, creditors doing business with consumers have been using credit-scoring models to determine if applicants are good credit risks. Information about an applicant's credit history including the amount of debt they have outstanding their bill-paying history any history of late payments and the number of times they have been sued or placed for collection are all factors that CRM programs use to establish an appropriate credit limit for a consumer credit applicant. Fay Hansen in "Business Credit" reports that a few years ago ....."
Abstract This paper discusses credit derivatives in modern banking. The paper gives a brief outline of credit derivatives, and further discusses the concept of how they function within the global market. The paper examines occurrences within banking in relation to credit derivatives and how these events have affected the worldwide opinion regarding the limitations of these transactions. The paper draws conclusions from the research provided, and offers opinions for the future of credit derivatives in banking.
From the Paper "When the economy is stable and interest rates are low, banks traditionally struggle for profits because there is not a significant need for loans from consumers or big business. In these moments of financial peace, banks needed methods that would ensure they could survive independently on the downfall of the economy in order to remain solvent. Credit derivatives were born of such concern, allowing bankers, and others, the ability to reduce their risk by selling risk to other parties. Risk was still maintained by lending institutions, but the prospect of intense profit margins was the deciding factor for most banks to begin to participate in credit derivatives. The research will demonstrate that bank use of credit derivatives has been a recorded success, and that credit derivatives continue to grow across the globe as a boom to the banking industry. However, limitations do exist connected with credit derivatives."
Highlights the main reasons why membership in the Employee Federal Credit Union (EFCU) is shrinking and why individuals are opting for commercial banking when credit unions offer loans at lower rates.
Abstract This research report addresses the main reasons why EFCU has encountered a decline in membership and what is prompting people to borrow from other financial bodies. In order to better understand these reasons, however, the paper first looks at why people are initially attracted to credit unions instead of commercial banks and the principles that guide the growth of credit unions. The report is based on a survey of EFCU members, which was conducted through mailed questionnaires.
From the Paper "This has been a major setback for most federal credit unions including EFCU the number of its members has decreased and many existing members prefer commercial banks to meet their loan requirements. While the governmental regulations are certainly playing a dominant role in poor performance of credit unions in last few years, we must not forget how banking industry has persistently forced the government to develop such legislation. The worst part is that due to this persistent challenges, market share of credit unions came down to 12% in 1995 from 13% in 1980 while that of bans increased from 50 to 56% during these fifteen years."
Abstract This paper provides an extensive review of the recent literature relevant to pricing credit derivatives. The paper discusses new developments in credit derivative pricing and explains that these new developments are those innovations that expand or clarify the existing variations models for credit derivatives.
From the Paper "The purpose of this study is to review new developments in the pricing of credit derivatives. Credit derivatives, essentially insurance against credit risk through the structuring of and trading in of synthetic financial assets, are little more than a decade old. Thus, a skeptic might state that almost anything that occurs in the credit derivative market reflects a new development. The perspective providing the focus in this study however is that new developments are those innovations that expand or clarify the..."
Abstract This document discusses the marketing strategy of Metro Credit Union (MCU) and its options, focusing on issues such as branding, brand identity and positioning in a competitive environment. MCU is concerned about which market segments to pursue and how to pursue the one it targets. The paper concludes that MCU should pursue a technologically savvy and able online brand identity.
Abstract This paper explores how US domestic and foreign policies have had to change as the role of the country in international politics and the global community has changed. The paper also notes that current challenges in the international community by globalization and terrorism have affected the motivations of US policies and thus of all other nations. The paper then compares US domestic and foreign policy in 1945 to US domestic and foreign policy in 2006. The paper concludes that it is still essential for the US to be active in international issues not only to protect its concerns but to be able to sense the unfolding global trends.
From the Paper "The US took on the role of peacekeeper in the international arena, it figured prominently in the post-war restoration and developments such as the Nuremberg Trials, division of territories and the institution of the United Nations (452).
"The US also symbol of the struggle against the spread of communism. Its policies of containment and promotion of democracy was a statement in its desire to be seen as a defender of freedom and liberty (Leffler 87-89). This was the same identity that it espoused during its own struggle for independence (Ash 286). Another role that it was beginning to cultivate was its substitution of Britain and the rest of Europe as an economic force in the world."
Abstract This essay examines whether the US open door policy toward China was consistent and dependable in dealing with the factions during the Chinese civil war in China during 1940-49. The paper analyzes the background and origins of the "open door" policy which date back to the mid 19th century. The paper examines the "open door" policy in light of American isolationism and as the US became a world power following World War II. This policy of limited involvement with China directed US policy until the Chinese Civil War.
From the Paper " An important, though undeclared, corollary to the policy, however, was that the United States was not willing to risk war to enforce its open door policy and its main foreign policy interest lay in Europe rather than Asia. This resulted in a number of serious setbacks for the policy, particularly during the Sino-Japanese war as well as the Chinese Civil War in which the Nationalists and the Communists were engaged in a bitter civil war for power in the country. Since the US was unwilling to use force, the most it could do was to use diplomacy to enforce the "open door." Such a lukewarm approach in support of a policy could, at best, be only partially successful and when the 'open door' was pointedly ignored by the Japanese during its seizure of Manchuria in 1931 and the subsequent full-fledged Sino-Japanese war in 1937, the US could do little to prevent its violation."
Abstract The paper discusses how the sunshine policy which has dominated North and South Korean diplomatic policy for the last several years is a matter well-deserving of closer attention. The following paper explores what the policy is, why it came into being, how it is implemented, what its benefits and disadvantages are and how it works. The paper also explores its ramifications for the future. The paper explains that, as should become evident, the Korean sunshine policy is something which is really far more complicated than novice observers might believe at first glance. The sunshine policy is, broadly stated, a policy emphasizing the rapprochement of the two Koreas and its origins may be traced back to a 1972 Joint Communique between the two governments.
Abstract The sunshine policy is widely used to describe the entire unification policy that was designed to unify Korea and enable the country to play a stronger role in the global economy. While the actual policy had a much less interesting name, the sunshine policy covers the aspects of the cultural change that Korea went through in this policy's implementation. This essay provides an overview of the policy from the perspective of economic and political strategy as well as culture.
From the Paper "The term "sunshine policy" is often referred to the "symbolic and ideological underpinnings" of the "engagement policy"; a strategy announced in 1998 which attempted to implement actual economic and political policies designed to move the Korean peninsula to a unified nation state (President Kim Dae-Jung's Unification Policy 58). However, the sunshine policy is also widely used to describe the entire unification policy that was designed to unify Korea and enable the country to play a stronger role in the global economy (Marquand par. 10)."
Abstract This paper provides a thorough analysis of monetary policy while concentrating on the role of the Federal Reserve System. The paper looks at the instruments used by the Federal Reserve System, the performance metrics in relation to the business environment and the role of monetary policy within the macroeconomic framework. The paper also analyzes the role of money when achieving economic objectives such as economic growth, controllable inflation and low unemployment rates.
Outline:
Introduction
The Money Creation Process
A Description of Monetary Policy Federal Reserve System: 1970s and 1980s
Federal Reserve System: 1990s and Beyond
Monetary Policy Efficiency
Federal Reserve System Performance: Monetary Policy Vs. Fiscal Policy
From the Paper "After WWII, Milton Friedman wrote a seminal work on the Quantity Theory of Money that used past research to show the linkage between money and hyperinflation. Similarly, it became clear to many analysts and economists that the role of the Federal Reserve System was more expansive, as there were efforts to measure and analyzes the growth of money stocks. As the Federal Reserve Bank acts as the bankers' bank, and dictates monetary policy, measurement efforts that are linked to the two points listed above involved expansive money supply estimation to include and define narrow and board definitions of money (Federal Reserve Board para. 4)."
