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Abstract only
Joe Earle, Cahal Moran and Zach Ward-Perkins

financial stability. These important societal functions have been outsourced to economic experts, with the bank employing two hundred economists in total.21 There have been similar developments elsewhere in the world. Independent CBs are present in the US, Japan, Australia and most starkly in Europe in the form of the European Central Bank, which is completely unaccountable to the democratic wishes of particular Eurozone countries. In an incredible turn of events in Italy in 2011, a coalition of technocrats headed by the economist Mario Monti Econocracy  13 was sworn

in The econocracy
Open Access (free)
Oonagh McDonald

pre-announced its first loss since going public on 9 June 2008. Yet the on-site monitor, Kirsten Harlow stated in her email to several officials that there was ‘no adverse information on liquidity, novations, terminations or ability to fund either secured or unsecured balances has been reported’. She also reported that Lehman had taken steps to improve liquidity, increasing its liquidity pool to $45bn. 30 Two days later, she reported that there were trading issues with four financial institutions, including Santander, Westpac and the Commonwealth Bank of Australia

in Lehman Brothers
John Wilson

.7%, following massive share price declines in Hong Kong (46%) and Australia (41%). Nevertheless, Ferranti went ahead with its planned extraordinary general meeting (EGM) on 19 October, called to approve the acquisition of ISC, while on 23 October it was announced that the offer went unconditional, given that votes representing 74.3% of ISC equity had accepted the Ferranti offer. At this stage, it was essential to consult the Office of Fair Trading on whether the merger would be referred to the Monopolies and Mergers Commission, a discussion on which the Ferranti board was

in Ferranti: A History
John Wilson

was subsumed by the need to rebuild the business in whatever markets proved responsive to Ferranti International technologies. 7.4 Conclusions: a ‘New Ferranti International’? There is, of course, much more that could be said about the many aspects of even a slimmed-down Ferranti International. After all, even in 1992–93 the eight business units were still involved in a myriad range of product markets, employing over 5,000 people across a geographically dispersed network of facilities that covered the UK, USA, Korea, Singapore, Australia, Brazil, Chile, Belgium

in Ferranti: A History
Abstract only
Types of banks and the risks they face
Mike Buckle and John Thompson

December 2015) reported forecasts of capital investment expenditure rising from $30 million in 2015 to an estimated $400 million in 2019. In 2016 the Australian Securities Exchange announced plans to transfer the clearing and settlement process on to the blockchain. 10 However, the potential for the use of blockchain methodology in clearing and settlement remains an open issue

in The UK financial system (fifth edition)
Mike Buckle and John Thompson

: where π is the payment to be made to the buyer by the seller if S > R , or to the seller if S < R, S is the reference rate at the settlement date and R the agreed rate; m is the number of days in the FRA. For the purpose of calculation, a year can consist of either 365 days (UK or Australia) or 360 days (e.g. US). Note that the payment is discounted by the market rate

in The UK financial system (fifth edition)
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

discussions), the Indonesian government negotiated a financial bailout package totaling some US$43 billion in international assistance with the IMF and bilateral donors. The package consisted of US$23 billion of the so-called “first line of funds” negotiated with the IMF and a “second line of funds” negotiated with bilateral donors. These included Japan (US$5 billion), Singapore (US$5 billion), United States ($3 billion), Malaysia (US$1 billion), Australia (US$1 billion), Brunei (US$1.2 billion) and China and Hong Kong SAR.17 Of the US$10 billion from the IMF, US$3 billion

in The Asian financial crisis
Open Access (free)
The evolving international financial architecture
Shalendra D. Sharma

factors, the trend toward greater exchangerate flexibility has been associated with more open and outward-oriented policies on trade and investment, and increased emphasis on marketdetermined exchange and interest rates. At the latest count (Autumn 2001), the IMF member countries have distributed themselves rather evenly along the spectrum from free floats to the irrevocably fixed rates of a currency union. At the flexible end, 50 countries, including many economically or geographically large nations like the United States, Japan, Australia and India, allow their currencies

in The Asian financial crisis