Financial Crisis Manipulated by London Inter-bank - 790 Words

In 2012, financial markets saw the emergence of the largest financial crisis possibly due to the manipulation of the London Inter-bank Offered Rate by financial institutions mainly banks.. The inter-bank offered rate came into existence when financial institutions in London demanded a benchmark for lending rates. This was needed so as to calculate the prices for various financial instruments such as interest, swaps, futures, options, student loans, and mortgages As a result of this demand, a course of action were taken by the British Banker’s Association which in 1986, resulted in the development and publication of the first London Inter Bank Offered Rate. In addition, the inter-bank offered rate is one of the most active interest rates that is solely based on a self reporting system in which the rate submitter of each bank present on the London inter-bank market a rate at which they were charged to borrow capital. As a result of the lack regulatory structures being put in p lace, banks were able to submit rates that benefited them at the expense of others. LIBOR not only give preference to the pound sterling but to that of other worldwide currencies such as US Dollar, Japanese Yen and Canadian Dollar. Nearly every rate used in financial calculations has its basis in the Capital Allocation Pricing Model which states that any interest rate required for any risky venture will necessitate a compensation rate above a â€Å"risk-free rate.† By way of explanation, the riskier anShow MoreRelatedWhat Went Wrong with Libor Rate2312 Words   |  10 PagesGROUP PAPER: WHAT WENT WRONG WITH LIBOR RATES? â€Å"Honesty is a very expensive gift. Do not expect it from cheap people† Warren Buffet Table of Contents Introduction 2 History 2 Origen of the crisis 3 Probable Reasons for the LIBOR manipulation 5 Main players involved in the LIBOR scheme 6 Recommendations on what to do to avoid this problem 6 Reference List 8 Read MoreWhat Went Wrong with Libor Rate2312 Words   |  10 PagesGROUP PAPER: WHAT WENT WRONG WITH LIBOR RATES? â€Å"Honesty is a very expensive gift. Do not expect it from cheap people† Warren Buffet Table of Contents Introduction 2 History 2 Origen of the crisis 3 Probable Reasons for the LIBOR manipulation 5 Main players involved in the LIBOR scheme 6 Recommendations on what to do to avoid this problem 6 Reference List 8 Read MoreThe London Inter Bank Lending Rate1384 Words   |  6 PagesIntroduction LIBOR, the London inter-bank lending rate, is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The London Interbank Offered Rate (LIBOR) is often called the world s most important number, As well as helping to decide the price of other transactions, it is also used as a measure of trust in the financial system and reflects the confidence banks have in each other s financial health. Libor acts as the rate atRead MoreAnalysis Of Barclays Ceo Bob Diamond1189 Words   |  5 Pages In June 2012, Barclays CEO Bob Diamond went before the Treasury Select Committee in the U.K. House of Commons admitting that his company manipulated the LIBOR (the London Inter-Bank Offered Rate). LIBOR has been used since 1969 as a reference rate in the operations of international financial markets and become the basis for trillions of dollars of financial transactions. This case study gives background and overview on the events that lead to and who were all involved with what happened. EthicalRead MoreAgency Theory and Corporate Governance3335 Words   |  13 Pagesdevelopment until recently where financial crisis have been bombarding most economies. As a result, the cost of livelihood had been unaffordable to many who live below the dollar. The monetary crisis has led to the lowering of many currencies against the dollar, hence advancing the economy crisis to most worldwide nations. This turn of events has been attributed to the lack of exercise of business and management ethics in many multinational companies, firms and investments. Financial scandals have been theRead MoreThe Role of Internal Audit in Prevention of Fraud in Nigeria Banks . a Case Study of Equitorial Bank Lagos.9955 Words   |  40 PagesStudy 5. Scope and Limitation of the Study CHAPTER TWO: LITERATURE REVIEW 1. Introduction 2. Types of Bank Frauds 3. Causes of Fraud 4. Effects of Fraud on Banks 5. Internal Audit function 6. Fraud and Internal Audit 7. Fraud Prevention 1. General Measures 2. Specific Preventive Measures 8. Elements of Fraud Auditing 9. Measures of Controlling Fraud in Banks 10. Statement of Internal Audit Standard No. 3 2.10.1 Deterrence of Fraud CHAPTER THREE: Research MethodologyRead MoreCustomer Relationship Management20711 Words   |  83 PagesThe impact of customer relationship management on the financial performance of an organization 1 Chapter 1-Introduction The impact of customer relationship management on the financial performance of an organization 2 1.1 Introduction This chapter provides an overview of the dissertation in brief. Background of the study and rationale of the study are discussed in the first half. Then this chapter goes on to explain six research objectives and two research questions. Finally structure of Read MoreAdr / Gdr in India13291 Words   |  54 PagesGLOBAL DEPOSITORY RECEIPTS IN INDIA Chapter - 1 INTRODUCTION OF FINANCIAL MARKETS INTRODUCTION The Indian economy is the second fastest growing economy in the world after China with a growth rate of 6.5%. India seems to have become an investor’s haven with high returns on investments for foreign Institutional investors. Indian companies are recording higher profits and are gaining global recognition because of operations in several countries. However, for international presence, Indian companiesRead Morepaul hoang answers72561 Words   |  291 Pagescase, it refers to the loss revenue by not opening supermarkets on Sundays. [2 marks] b) Examples of opportunity cost mentioned include †¢ †¢ †¢ Loss of supermarket sales by not operating on Sundays or by not operating â€Å"24-hour stores†. Banks potentially losing clients on Sundays. Fines for non-compliance. These factors will clearly affect business decision making, e.g. whether to trade on Sundays or 24hour a day. [6 marks] Question 1.1.3 – The business of education a) SpecializationRead MoreManaging and Organizing for Innovation in Service Firms a Literature Review with Annotated Bibliography30787 Words   |  124 Pagessmall service firms Small service firms Experiments and interviews Telecommunication Customer involvement in new service development Experiments Telecommunication Customer involvement in new service development Interviews Financial services Front-line employee involvement in new service development 12 3 An overview of the field of research Research on the service workers’ role in new service development and service innovation has been carried out from different

The Safety Insecurities Of Public Drinking - 1786 Words

Title: The safety insecurities of public drinking in undergraduate students Aims objectives This project aims to generate awareness and new knowledge on the insecurities of safety faced by undergraduate students drinking in public settings by examining the experiences and awareness associated with such habits amongst undergraduate students. specific objectives include: identifying safety insecurities associated with drinking, identifying factors which lead/ influence public drinking, identifying common levels of alcohol consumption, the age of participants, mental and physical risks associated with public drinking and framings for prevention of health and safety risks of public drinking. Literature review Alcohol consumption is a major issue amongst university students, there are dangers involved with such actions that lead to both short and long term consequences (Polak Conner, 2012). Despite these factors, (Kim et al.,2009; Morton Tighe, 2011) observed that alcohol consumption was prevalent in 67% of students due to university culture and more common amongst second year undergraduates. Morton and Tighe (2011) also found, reasons for alcohol consumption were socialisation (to fit in), student alcohol promotions and to gain enjoyment .Therefore it is inevitable that students feel obliged by peers and social norms to consume alcohol at some stage of there undergraduate careers, Pichini et al. (2013) found that this will most probably occur in a public setting e.g.Show MoreRelatedGlobal Data On Visual Impairment1144 Words   |  5 Pagesdisposal systems in Nigeria. Environmental Technology.14: 957-964/////////////////////////////////////////////// Sasaki, S., Suzuki, H., Fujino, Y and Cheelo, M (2009) â€Å"Impact of drainage networks on cholera outbreaks in Lusaka Zambia.† Am. Journal of Public Health, 99 (11): 1982-1987//////////////////////////// Schafer, A, L., Rossiter, H, M, A., Owusu, P, A., Richards, B, S and Awuah (2009) Physico-Chemical water quality in Ghana. Prospects for water supply technology, implementative Desalination. ppRead MoreThe Broken Windows Model Of Policing1679 Words   |  7 Pageseventually lead to community decline if they are left untended (Gau, J. Pratt, T. 2008). The theory, used broken windows as a metaphor for disorder within neighborhoods and its intention was to reduce or eliminate disorderly behavior, graffiti, public drinking, noise, loitering, and other minor offenses that blossom into larger problems that, in turn, can transform a clean neighborhood into a slum or ghetto (Gau, J. Pratt, T. 2008). The theory argues that these behaviors, far from being a distractionRead MoreDomestic Violence Related Crime Throughout West Virginia1208 Words   |  5 PagesDomestic violence is a universal problem that can affect an individual of any age, gender, race, education level, social class, or culture. This type of violence is considered to be one of the most widespread public health crises in the United States (Black et al., 2011). The purpose of this essay is to create a plan for a program that addresses domestic violence-related crime in West Virginia. To begin, significant information in relation to domestic violence will be provided. This will be followedRead MoreThe Effects Of Malnutrition On Indi The Facts Essay1419 Words   |  6 Pagesheight for age), 19.8 per cent are wasted (low weight for height). Thirty six percent of adult women have chronic energy deficiency (Body Mass Index 18.5). Deficiencies of essential vitamins and minerals are widespread in India and anaemia is a major public health problem. Nearly 82 percent of children below 3 years and 55 percent of women of reproductive age are anaemic. India has witnessed impressive economic growth in the recent times and has achieved much in many fronts. However, the progress inRead MoreRape And Social Development Programs1519 Words   |  7 Pagesthat sexual assault is one of the most common offences in Canada. In 2009 in Canada, women self-reported 472,000 sexual assaults even though Statistics Canada reported that the majority of women do not actually report sexual assaults. The Women s Safety Project survey, 1993, found that 69% of women reported having been sexually assaulted in childhood also reported having been sexually assaulted after the age of 16 (Justice Canada, n.d.). Most of the circumstances involve disadvantaged groups likeRead MoreStarbucks On Clemson University Campus1666 Words   |  7 Pages Private conversations were brought down to a hush but when talking about individuals who were not present they would talk normally. The number of people with someone was not the only factor affecting behavior, gender was too. Females eating or drinking alone occupied the entirety of their time with a phone, computer, or book. Male individuals only used a source of distraction while sitting at a table alone. Females also greeted people louder and with more energy than males. When it comes to beingRead MoreThe Social Determinants Of Health1623 Words   |  7 Pagesrole in risk of developing disease or vulnerability to disease or injury, rather, factors like distribution of income, influence, wealth and power which are risk factors commonly found in people s working and living conditions have been implicated. 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According to Ofer Zur (2011), Some of the most important issuesRead MoreCommon Issues Affecting Teenagers in Today’s Society and Generation3061 Words   |  13 PagesGeneration Background of the study: Now that we are well into the new Millennium society has begun to recognize serious concerns with issues that teenagers have to deal with today. Some issues have always been there but are now coming to the eyes of the public to find solutions. Other issues are new trends as society begins to adapt to a faster pace of life. This study will define the common issues that the teenagers are facing in today. According to Ofer Zur (2011), Some of the most important issues facingRead More Masculinity At Its Straightest Essay1870 Words   |  8 Pagesmany people to comment that they believe the fraternity participating in such things has many closet homosexuals. The aforementioned contradictions enlist a healthy amount of irony as a group dedicating themselves to generic masculine events (binge drinking, hooking up with young women, etc..) would initiate members by forcing them to perform something entirely oppositional to what they stand for. Young men feel so much that they need to conform to what people want and expect of them as â€Å"men† that even

Examining Government Regulations Free Essays

Western Maine Community Action (WMCA) is operated under the direction of an elected and appointed Board of Directors. This Board of Directors not only has to adhere to the Bylaws of WMCA, but also to various rules and regulations set forth by state and federal government. These rules and regulations are required in order for WMCA to receive funding for the programs they offer to their clients. We will write a custom essay sample on Examining Government Regulations or any similar topic only for you Order Now The program that I have chosen to research government regulations on is Western Maine Community Actions’ Energy Housing Program, focusing specifically on the housing portion of the program. Although there are numerous rules, regulations and standards that apply to those seeking assistance, U. S. Title 42, Chapter 119, Section 11408, Homeless Assistance, indicates that assistance can be granted based on one or all of the following; prevention assistance for families at risk of becoming homeless, assisting families in providing them permanent housing, or, offering direct emergency assistance. The family must be in jeopardy of having lost or losing adequate night-time residence. Funding for assisting families is limited and is based on a percentage of appropriated funds, as well as community population. In order for Western Maine Community Action to be eligible to receive grant monies to continue to offer this program, a very detailed application must be filled out and agreement made that WMCA will involve the individual(s) and or families through employment, volunteer services and in some case rehabilitation. Application submission must include the following documents; work plan, budget, board membership list by sector and an updated financial procedures manual. Community Services Block Grants is also a funding organization that Western Maine Community Action relies on for the funding of the Energy and Housing Program. The CSBG rules were adopted to provide a consistent statewide guideline for the use of federal funds which are appropriated under the Community Services Block Grant Act of 1981. The rules establish funding and program requirements for the designated recipients. In order to be eligible for this grant, WMCA agrees to an agency-wide audit, which means a financial audit of all agency funds, restricted and unrestricted at the end of their fiscal year. The financial audit must consist of an auditor’s report, statement of support, which are revenue and expenses and any changes that have been made in fund balances. Appropriate notes must be made on financial statements as well as a schedule of grant revenues, expenses and changes made to balances. Once grant funding has been released to WMCA, there must be a comprehensive plan in place for the intent of fund usage and the plan must include a range of services and activities with a measureable impact on the causes and conditions of the poverty level in the particular service area, to advocate for the client(s) to secure and retain employment; to offer opportunities for the client to attain an adequate education, continue to assist clients in obtaining and maintaining adequate housing and a suitable living environment, to name a few of the programs the Agency is to offer through this grant. Federal and State mandates are becoming more and more stringent with the current state of the economy. Many times programs, such as the ones that WMCA offer within their service area, are held accountable for the funding they are granted. Often times, programs to assist the needy have to be offered during certain times of the year because of the demand for services and cap on the amount of funding available. Federal and State agencies help in many other ways besides just housing. Programs such as immunizations for children, assistance in transportation, childcare services, food programs, and these are just a sampling. With all these programs in place, funds must be allocated in order that help is provided for those needing. I believe that there are many citizens within a community that feel disconnected from their community therefore are not accessible to human service providers therefore it is a challenge when Federal of State Governments face when they try to address the current situation of inadequate housing and even homelessness. It is typical for middle class citizens to seek help when they most need it because they consider themselves as a failure to their family. The reality is that because of the current state of the economy they have fallen in to debt, and are no longer able to provide for their families as generously as previously done while living at the middle class level. This type of situation not only becomes stressful for the individual seeking the assistance, but puts strain nd stress on the relationships within the family unit. Individuals seeking and accepting assistance should understand that it is only on a temporary basis that help is being provided and is beneficial to their family. The reality would be that it would be more detrimental to the family if they did not have adequate food, shelter warmth, and medical/dental services and that we are here advocating for them. How to cite Examining Government Regulations, Essay examples Examining Government Regulations Free Essays The current government regulations I researched pertain to the clinical guidelines and the civil rights of persons living with HIV/AIDS in Portland, Oregon. Many people living with HIV/AIDS, at some point during their illness, find themselves in need of housing assistance and support services. Stable housing promotes improved health, sobriety or decreased use of alcohol and illegal drugs, and, for some, a return to paid employment and productive social activities. We will write a custom essay sample on Examining Government Regulations or any similar topic only for you Order Now As the number of people living with HIV/AIDS continues to grow in both urban and rural areas throughout the United States, stakeholders must find new ways to address their needs to promote the health and well-being of these individuals and their families. Increasingly, maximizing the resources available to people who need them requires partnering across mainstream housing and human services systems to ensure continuity of care, program efficiency, and that there is â€Å"no wrong door† to assistance for clients at risk. The United States Department of Health and Human Services recommended public health law reform as part of its Healthy People 2010 initiative. Public health law in many states is ripe for reform. Oregon state legislature has suggested that existing state statutes are ineffective in responding to contemporary health threats for many reasons. These statutes pre-date modern scientific and constitutional developments and lack adequate standards of privacy, due process, and risk assessment. Forty percent of Oregonians with HIV need housing assistance, and a survey of Oregon service agency representatives cited the lack of affordable housing as the number-one barrier to stability for Oregonians living with HIV/AIDS. Critical issues were identified and recommendations developed to improve the ability of these systems to cooperatively meet the housing and services needs of people living with HIV/AIDS in Oregon. The obstacles that would prevent me from meeting the needs of people living with HIV/AIDS are 1. Limited Awareness of Resources Dedicated to People Living with HIV/AIDS Many potential housing and services partners lack awareness or accurate knowledge of existing resources dedicated to, or which can be used to serve, people living with HIV/AIDS, and that lack of awareness may limit partnerships. 2. Confidentiality Concerns The need to maintain client confidentiality restricts the ways that OHOP housing coordinators and other organizations and individuals can publicize their activities and resources. . Limited Staff Capacity and Knowledge HIV Care and Treatment staff may lack familiarity with aspects of partner systems, including affordable housing, and have limited resources and time to conduct marketing and outreach to potential partners and planning bodies. Discrimination adds to the daily struggles faced by the growing number of people living with HIV/AIDS in the United States – people who are predominantly poor and disproportionately African American or Latino. Every agency’s biggest problems facing their clients involve meeting basic needs – coping with poverty, hunger, illiteracy, inadequate medical care, lack of transportation, and homelessness. In addition to those basic needs issues, people with HIV face a series of critical civil rights problems. Individuals living with HIV/AIDS need to know their rights and need the resources to advocate for themselves when their rights are threatened. They also need national legal organizations like the ACLU AIDS Project to enforce their civil rights and civil liberties through litigation, public education and legislative advocacy. Recommendations: †¢ Develop simple, discreet material to publicize OHOP and related services and opportunities, and distribute it widely. †¢ Present to current and potential partners, including faith-based and community-based grass roots organizations with information tailored to their interests. †¢ Engage provider agency staff, clients, and other regional participants in publicizing the need, opportunity, and benefits of investing in housing and services for people living with HIV/AIDS. †¢ Focus attention on improving coordination with planning, data, and other elements of homeless systems. †¢ Promote Shelter Care and other bonus projects through agreements to streamline or share sponsor administrative costs. †¢ Conduct outreach and seek partnerships with landlords and property managers. Oregon Housing and Opportunities in Partnership (OHOP) Program Many people living with HIV/AIDS find themselves in need of housing assistance and support services at so me point during their illness. As many as 60 percent of all persons living with HIV/AIDS report a lifetime experience of homelessness or housing instability. Stable housing promotes improved health, sobriety or decreased use of alcohol and illegal drugs, and, for some people living with HIV/AIDS, a return to paid employment and productive social activities. The federal Housing Opportunities for Persons with AIDS (HOPWA) program provides funding, distributed by both formula and competition, dedicated to the housing needs of people living with HIV/AIDS and their families. This funding is not only necessary but critical to have the needs of people living with HIV/AIDS met adequately. How to cite Examining Government Regulations, Papers