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This rate is calculated daily by the South African Futures Exchange as the average prime lending rate quoted independently by a number of different banks. The rate is available in one-month, three-month, six-month and twelve-month discount terms. In particular, the three-month JIBAR rate is used as a benchmark of short-term interest rate movements.
In 2009, as a regulatory response to the revealed vulnerability of the banking sector in the financial crisis of 2007–08, and attempting to come up with a solution to solve the "too big to fail" interdependence between G-SIFIs and the economy of sovereign states, the Financial Stability Board (FSB) started to develop a method to identify G-SIFIs to which a set of stricter requirements would ...
When UOB acquired the Overseas Union Bank in January 2002, the operations of the branches in Brunei was handed over to UOB. On 1 October 2005, the bank relocated its branch office in Bandar Seri Begawan. [23] In 2015, UOB sold its retail banking business to Baiduri Bank Berhad for S$65.044 million. The bank currently provides a full range of ...
However, the size of this multiplier effect is likely to be diminished by two considerations: first, an upward push that the new spending gives to interest rates, which diminishes spending on goods such as physical capital and consumer durables; and second, an upward push that the spending gives to the general price level, which diminishes the ...
It is one of the "Big Three" local banks in Singapore, along with Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB). DBS is the largest bank in Southeast Asia by assets and among the largest banks in Asia, with assets totaling S$739 billion as of 31 December 2023.
Gregory Mankiw, author of one of the widely read intermediate textbooks (Macroeconomics) that present the money multiplier theory, notes in its 11th edition that even though the Federal Reserve can influence the money supply, it cannot control it fully because households' decisions and banks' discretion in the conduct of their business may ...
NETS was first introduced to the public on 27 June 1985 as a 2-month pilot project involving 10,000 ATM card holders from the five local banks, namely DBS Bank, OCBC Bank, UOB, POSB Bank and OUB through 64 terminals installed at participating government offices, supermarkets, department stores and petrol kiosks. [2]
Debt monetization as a concept is often based on a misunderstanding of modern financial systems compared to fixed exchange rate systems like the gold standard. Historically, in a fixed exchanged rate financial system, central bank money creation directly for government spending by the fiscal authority was prohibited by law in many countries. [14]