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The Bankers
''The Bankers'' is the 1974 book by the economist-writer Martin Mayer that describes the industry just at the cusp of deregulation. At the time, banks had just been released from the interest rate ceilings of Regulation Q imposed by the Federal Reserve. Also, NOW (or negotiable orders of withdrawal) accounts allowed checkable deposits to earn interest. This period, the mid to late 1970s saw an explosion of financial markets innovation with money market mutual fund accounts, call and put options Option or Options may refer to: Computing *Option key, a key on Apple computer keyboards *Option type, a polymorphic data type in programming languages * Command-line option, an optional parameter to a command *OPTIONS, an HTTP request method ... traded first over the counter then on listed exchanges and finally bank deregulation as failed banks were taken over by out of state banks. See also *'' The Invisible Bankers: Everything the Insurance Industry Never Wanted You to Kno ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Martin Mayer (writer)
Martin Prager Mayer (January 14, 1928 – August 1, 2019) was the writer of 35 non-fiction books, including ''Madison Avenue, U.S.A.'' (1958), ''The Schools'' (1961), ''The Lawyers'' (1967), ''About Television'' (1972), '' The Bankers'' (1975), ''The Builders'' (1978), ''Risky Business: The Collapse of Lloyd's of London'' (1995), ''The Bankers: The Next Generation'' (1997), ''The Fed'' (2001), and ''The Judges'' (2005). Mayer's books describe and criticize American industries or professional groups. His book on Madison Avenue was described by Cleveland Amory as "The first complete story on the ... advertising industry". Mayer wrote a music column for ''Esquire'' from 1952 to 1975. He was a guest scholar at the Brookings Institution. He was married to Revenue Watch Institute President Karin Lissakers. Mayer died at the age of 91 in Shelter Island, New York on August 1, 2019 from complications of Parkinson's disease Parkinson's disease (PD), or simply Parkinson's, is a long ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulation Q
Regulation Q ( 12 CFRbr>217 is a Federal Reserve regulation which sets out capital requirements for banks in the United States. Updated as required. The version of Regulation Q current was enacted in 2013. From 1933 until 2011, an earlier version of Regulation Q imposed various restrictions on the payment of interest on deposit accounts. During that entire period, it prohibited banks from paying interest on demand deposits. From 1933 until 1986 it also imposed maximum rates of interest on various other types of bank deposits, such as savings accounts and NOW accounts. That version of Regulation Q no longer exists; all its remaining aspects, such as the type of entities that may own or maintain interest-bearing NOW accounts, were incorporated into Regulation D. History As a result of Section 11 of the Banking Act of 1933, Regulation Q was promulgated by the Federal Reserve Board on August 29, 1933. In addition to prohibiting the payment of interest on demand deposits (a prohi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve System
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and currently also include supervising and regulating banks, maintaining the sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negotiable Order Of Withdrawal Account
In the United States, a negotiable order of withdrawal account (NOW account) is a deposit account that pays interest on which an unlimited number of checks may be written. A negotiable order of withdrawal is essentially identical to a check drawn on a demand deposit account, but US banking regulations define the terms "demand deposit account" and "negotiable order of withdrawal account" separately. Until July 2011, Regulation Q stated that a demand deposit could not pay interest. NOW accounts were structured to comply with Regulation Q. NOW accounts are considered checkable deposits, and are counted in the Federal Reserve Board's M1 definition of the money supply, as well as in the broader definitions. Like all other bank deposits, they are liabilities from the bank's perspective. History The Banking Act of 1933 specified that no member bank "shall, directly or indirectly, by any device whatsoever, pay any interest on any deposit which is payable on demand", and on August 29, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Market
The money market is a component of the economy that provides short-term funds. The money market deals in short-term loans, generally for a period of a year or less. As short-term securities became a commodity, the money market became a component of the financial market for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less. Trading in money markets is done over the counter and is wholesale. There are several money market instruments in most Western countries, including treasury bills, commercial paper, banker's acceptances, deposits, certificates of deposit, bills of exchange, repurchase agreements, federal funds, and short-lived mortgage- and asset-backed securities. The instruments bear differing maturities, currencies, credit risks, and structures. A market can be described as a money market if it is composed of highly liquid, short-term assets. Money market funds typically invest in government securiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutual Fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds are often classified by their principal investments: money market funds, bond or fixed income funds, stock or equity funds, or hybrid funds. Funds may also be categorized as index funds, which are passively managed funds that track the performance of an index, such as a stock market index or bond market index, or actively managed funds, which seek to outperform stock market indices but generally charge higher fees. Primary structures of mutual funds are open-end funds, closed-end funds, unit investment trusts. Open-end funds are purchased from or sold to the issuer at the net asset value of each share as o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Option (finance)
In finance, an option is a contract which conveys to its owner, the ''holder'', the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or financial instrument, instrument at a specified strike price on or before a specified expiration (options), date, depending on the Option style, style of the option. Options are typically acquired by purchase, as a form of compensation, or as part of a complex financial transaction. Thus, they are also a form of asset and have a Valuation of options, valuation that may depend on a complex relationship between underlying asset price, time until expiration, market volatility, the risk-free rate of interest, and the strike price of the option. Options may be traded between private parties in ''Over-the-counter (finance), over-the-counter'' (OTC) transactions, or they may be exchange-traded in live, public markets in the form of standardized contracts. Definition and application An option is a contract that all ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Over-the-counter (finance)
Over-the-counter (OTC) or off-exchange trading or pink sheet trading is done directly between two parties, without the supervision of an exchange. It is contrasted with exchange trading, which occurs via exchanges. A stock exchange has the benefit of facilitating liquidity, providing transparency, and maintaining the current market price. In an OTC trade, the price is not necessarily publicly disclosed. OTC trading, as well as exchange trading, occurs with commodities, financial instruments (including stocks), and derivatives of such products. Products traded traditional stock exchanges, and other regulated bourse platforms, must be well standardized. This means that exchanged deliverables match a narrow range of quantity, quality, and identity which is defined by the exchange and identical to all transactions of that product. This is necessary for there to be transparency in stock exchange-based equities trading. The OTC market does not have this limitation. Parties m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Listed Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), in Fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Exchange
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets with buyers and sellers consummating transactions via open outcry at a central location such as the floor of the exchange or by using an electronic trading platform. To be able to trade a security on a certain stock exchange, the security must be listed there. Usually, there is a central location for record keeping, but trade is increasingly less linked to a physical place as modern markets use electronic com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Everything The Insurance Industry Never Wanted You To Know
Everything, every-thing, or every thing is all that exists; the opposite of nothing, or its complement. It is the totality of things relevant to some subject matter. Without expressed or implied limits, it may refer to anything. The universe is everything that exists theoretically, though a multiverse may exist according to theoretical cosmology predictions. It may refer to an anthropocentric worldview, or the sum of human experience, history, and the human condition in general."This is the excellent foppery of the world..." — Shakespeare, ''King Lear'', Every object and entity is a part of everything, including all physical bodies and in some cases all abstract objects. Scope In ordinary conversation, ''everything'' usually refers only to the totality of things relevant to the subject matter. When there is no expressed limitation, ''everything'' may refer to the universe, or the world. The universe is most commonly defined as everything that physically exists: the entirety of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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