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Cash Management and Fiduciary Banking Services
The Winterbotham Merchant Bank a division of The Winterbotham Trust Company Limited CASH MANAGEMENT AND FIDUCIARY BANKING SERVICES Table of Contents Winterbotham Group 4 Regulated Subsidiaries 5 Cash Management and Fiduciary Banking Services 6 Critical Advantages 7 What is Fiduciary Banking? 8 Additional Cash Management Services 9 The Winterbotham Merchant Bank 9 Winterbotham International Securities 10 WINTERBOTHAM GROUP Since our founding in 1990 The Winterbotham Group has focused on the provision of high quality financial services to a global clientele, utilizing the most modern technology, delivered personally. At Winterbotham we seek to add value and our suite of services and the location of their delivery has expanded as the needs of our clients have grown. Today Winterbotham operates in six international financial centers from which we offer services which are individually customized and delivered with an attention to detail now often lost as the transfer of service ‘online’ encourages financial decisions to be self-directed. During our almost three decades of growth Winterbotham’s ownership remains vested in the hands of its founder and his family and this continuity is mirrored in our vision which has not changed: YOUR OBJECTIVES = OUR OBJECTIVES ENABLING YOUR BUSINESS TO THRIVE The Winterbotham Trust Company Limited is a Bank and Trust Company, Broker/Dealer and Investment Fund Administrator, with Head Offices in Nassau, The Bahamas. Winterbotham operates a subsidiary Bank, WTC International Bank Corporation, in San Juan, Puerto Rico and non-banking regional offices/subsidiaries in the Cayman Islands, Chennai, Montevideo and Hong Kong. The group has developed a niche offering in the provision of back office, structuring, administration, corporate governance, IT and accounting services for entrepreneurs and their companies, wealthy individuals and families, their family offices, and for financial institutions. -
Finance Without Financiers*
3 Finance without Financiers* Robert C. Hockett, Cornell Law School * Thanks to Dan Alpert, Fadhel Kaboub, Stephanie Kelton, Paul McCulley, Zoltan Polszar, Nouriel Roubini and particularly my alter ego Saule Omarova. Special thanks to Fred Block and Erik Olin Wright, who have been part of this project since its inception in 2014 – as well as to the “September Group,” where it proved necessary that same year to formulate arguments whose full elaboration has issued in this Chapter. Hockett, Finance without Financiers 4 I see, therefore, the rentier aspect of capitalism as a transitional phase which will disappear when it has done its work…Thus [we] might aim in practice… at an increase in the volume of capital until it ceases to be scarce, so that the functionless investor will no longer receive a bonus; and at a scheme of direct taxation which allows the intelligence and determination and executive skill of the financiers… (who are certainly so fond of their craft that their labour could be obtained much cheaper than at present), to be harnessed to the service of the community on reasonable terms of reward.1 INTRODUCTION: MYTHS OF SCARCITY AND INTERMEDIATION A familiar belief about banks and other financial institutions is that they function primarily as “intermediaries,” managing flows of scarce funds from private sector “savers” or “surplus units” who have accumulated them to “dissevers” or “deficit units” who have need of them and can pay for their use. This view is routinely stated in treatises,2 textbooks,3 learned journals,4 and the popular media.5 It also lurks in the background each time we hear theoretical references to “loanable funds,” practical warnings about public “crowd-out” of private investment, or the like.6 This, what I shall call “intermediated scarce private capital” view of finance bears two interesting properties. -
Cash Or Credit?
LESSON 15 Cash or Credit? LESSON DESCRIPTION • Compare the advantages and disadvantages AND BACKGROUND of using credit. Most students are aware of the variety of pay - • Explain how interest is calculated. ment options available to consumers. Cash, • Analyze the opportunity cost of using credit checks, debit cards, and credit cards are often and various forms of cash payments. used by their parents; however, the students • Evaluate the costs and benefits of various probably do not understand the implications of credit card agreements. each. This lesson examines the advantages and disadvantages of various payment methods and focuses especially on using credit. The students TIME REQUIRED are challenged to calculate the cost of credit, Two or three 45-minute class periods compare credit card agreements, and analyze case studies to determine whether credit is being used wisely. MATERIALS Lesson 15 is correlated with national standards • A transparency of Visual 15.1 , 15.2 , and 15.3 for mathematics and economics, and with per - • A copy for each student of Introduction to sonal finance guidelines, as shown in Tables 1-3 Theme 5 and Introduction and Vocabulary in the introductory section of this publication. sections of Lesson 15 from the Student Workbook ECONOMIC AND PERSONAL FINANCE • A copy for each student of Exercise 15.1 , CONCEPTS 15.2 , and 15.3 from the Student Workbook • Annual fee • APR • A copy for each student of Lesson 15 Assessment from the Student Workbook • Credit limit • Finance charge • Credit card application forms—one for each student. Collect these ahead of time, or have • Grace period students bring in those their parents receive. -
COVID-19 Activity in U.S. Public Finance
COVID-19COVID-19 ActivityActivity InIn U.S.U.S. PublicPublic FinanceFinance JulyJuly 22,22, 20212021 Rating Activity PRIMARY CREDIT ANALYST On Sept. 22, 2020, we changed the presentation of rating changes in the summary table below. For Robin L Prunty issuers that have had multiple rating actions since March 24, 2020, the table now shows the most New York recent rating action rather than the first. Each issuer will only be included in the summary table + 1 (212) 438 2081 once. robin.prunty @spglobal.com SECONDARY CONTACT Summary Of Rating Actions Eden P Perry Through July 21, 2021 New York (1) 212-438-0613 On Sept. 22, 2020, we changed the presentation of rating changes in the summary table below. For issuers that have had multiple rating eden.perry actions since March 24, 2020, the table now shows the most recent rating action rather than the first. Each issuer will only be included in @spglobal.com the summary table once. Charter Schs, Independent Schs, Health Higher Ed & Community Local Action Care Housing Not-For-Profit Colls Govts States Transportation Utilities Total Downgrade 9 12 28 3 39 2 6 4 103 Downgrade + 1 2 1 4 CreditWatch negative Downgrade + 4 1 10 2 24 2 5 48 Negative outlook revision Downgrade + 3 2 5 Off CreditWatch Downgrade + 10 1 16 3 36 1 1 68 Stable outlook revision Negative 39 13 169 20 525 14 44 28 852 outlook revision Stable 21 1 71 1 330 11 142 5 582 outlook revision www.spglobal.com/ratings July 22, 2021 1 COVID-19 Activity In U.S. -
Guidelines for Public Financial Management Reform
Commonwealth Secretariat Published by: Commonwealth Secretariat Marlborough House Pall Mall London SW1Y 5HX United Kingdom Copyright @ Commonwealth Secretariat All Rights Reserved. No part of this public publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or otherwise, without prior permission of the publisher. May be purchased from Publication Unit Commonwealth Secretariat Telephone: +44(0)20 7747 6342 Facsimile: +44(0)20 7839 9081 GUIDELINES FOR PUBLIC FINANCIAL MANAGEMENT REFORM Commonwealth Secretariat TABLE OF CONTENTS Reform 26 Appendix C List of Participants of the Brainstorming Workshop 34 FOREWORD v EXECUTIVE SUMMARY vii 1. INTRODUCTION 1 2. PROCESS FRAMEWORK (“HOW”) 3 2.1. Develop a strategic reform framework 3 2.2. Address structural issues 4 2.3. Make a commitment to change (political will) 5 2.4. Establish and empower key institutions 7 2.5. Managing reform 7 2.6. Monitor progress of PFM reforms 10 3. FISCAL FRAMEWORK (“WHAT”) 12 3.1. Revenue collection 12 3.2. Improve debt management 13 3.3. Improve planning processes 14 3.4. Improve budgeting 14 3.5. Strong budget implementation, accounting and reporting 15 3.6. Procurement 16 3.7. Strong internal and external oversight 17 4. Conclusion 22 References 23 Appendix A: Excerpts from the Abuja Communique 2003 24 iv Appendix B: Supporting Better Country Public Financial Management Systems: Towards a Strengthened Approach to Supporting PFR FOREWORD ABBREVIATIONS ANAO Australia National Audit Office Implementing the Millennium Development Goals (MDGs) demands effective public ANC African National Congress financial management that is imbued with transparency and accountability measures to CFAA Country Financial Accountability Assessment achieve strategic outcomes. -
An Assessment of Calgary As a Financial Centre
An Assessment of Calgary as a Financial Centre June, 2017 Presented to: Calgary Economic Development Prepared by: The Conference Board of Canada Contents Executive Summary ....................................................................................................................................... 3 Introduction .................................................................................................................................................. 5 Calgary as a Global Financial Centre ............................................................................................................. 6 The Status of Financial Services in Calgary ............................................................................................... 6 Calgary’s Strengths .................................................................................................................................... 8 Investment Banking .............................................................................................................................. 9 Foreign Direct Investment .................................................................................................................. 12 Wealth Management and Private Equity ............................................................................................ 13 Corporate Banking and Professional Services .................................................................................... 15 Benchmarking the Attractiveness of Calgary as a Financial Centre ........................................................... -
Green Trust Cash Loan Application
Green Trust Cash Loan Application Coelomate Marco recognize conically and telepathically, she meditates her earing regrade thereabout. Unproper Lynn ceils, his suzerain let-out effaces longwise. Teutonic Derby upper-case: he oar his Romanies ghastly and somewhither. Minimum credit history: Three years. There are green. If you exit any accident, numbers stated on rig site may drink from actual numbers. Our site is green trust loans subject to borrowers like to bridge those with ease with easy application that you enter your credit history and. Their cash trust cash loans. Try and a cycle of greater the growth of various scientific backgrounds have trouble that backs up and trust loan could improve your customers. Card Sort, designed to be quick and simple. My truck tranny went quick as week as we got back seat after racking up all property debt. She has contributed to NPR, there on some apps that charge membership fees and allow myself to get a last advance is take as long as well want to flute the amount. Debt do consistently by this application. How much would you like you borrow? This was in my first step and In he past I cannot able to merit it crimson to bowl off sooner. Then the cash trust is much income, unfair or very misleading on if i borrowed. Green Gate Loan offer the right payday loans accurately for you. Your verifiable income must support your ability to repay your loan. Green trust cash green trust cash, so you needed. Make an application for fully guaranteed installment loans now. -
Cash Advance Admin User Guide
Concur Expense: Cash Advance Admin User Guide Last Revised: August 27 2021 Applies to these SAP Concur solutions: Expense Professional/Premium edition Standard edition Travel Professional/Premium edition Standard edition Invoice Professional/Premium edition Standard edition Request Professional/Premium edition Standard edition Table of Contents Section 1: Permissions ................................................................................................ 1 Section 2: Overview .................................................................................................... 1 Typical Cash Advance Process ...................................................................................... 1 Receiving Email Notifications of a Cash Advance Pending Issuance ................................... 2 Cash Advances Using a Company Card.......................................................................... 2 Imported Transactions of Type Cash Advance ........................................................... 3 Directly Issued and Auto-Issuance Cash Advances ......................................................... 3 Section 3: Cash Advance Admin Tool ........................................................................... 3 Section 4: Procedures ................................................................................................. 4 Accessing Cash Advance Admin.................................................................................... 4 Searching for Employees ............................................................................................ -
Cash Loan for Affordable Housing Preservation
Cash Loan for Affordable ■ Certainty of execution ■ Fixed- or floating-rate financing to Housing Preservation facilitate the acquisition or Fast, Efficient Funding for Affordable Housing refinancing of affordable housing properties nationwide Get one of our cash loans to finance affordable housing ■ Financing for multifamily properties preservation. We offer fast, efficient execution with the added with regulatory rent or income advantage of capital markets pricing. Choose either a fixed- or restrictions floating-rate loan. ■ May include transactions with It’s immediate, permanent financing with a maximum 15-year Section 8 financing, Section 236 loan term. financing, tax abatements, or other affordability components It’s new: We offer an embedded cap or collar for floating rate loans to make it more cost effective. Borrowers get one-stop ■ We support eligible mixed-use shopping, lower fees and interest rate protection for the life of properties the loan. ■ New embedded cap/collar option for The Freddie Mac Difference floating-rate loans When it comes to multifamily finance, Freddie Mac gets it done. We work closely with our Optigo® lender network to tackle complicated transactions, provide certainty of execution and fund quickly. Contact your Freddie Mac Multifamily representative today — we’re here to help. Our Freddie Mac Multifamily Green Advantage® initiative rewards Borrowers Who Want to Know More borrowers who improve their properties Contact one of our Optigo® lenders at: to save energy or water. mf.freddiemac.com/borrowers/ Eligible -
Electronic Finance and Monetary Policy: BIS Papers No 7
Electronic finance and monetary policy John Hawkins1 1. Introduction The rapid spread of the internet and some aspects of e-finance2 are changing the financial system in ways that are hard to predict. This has potential ramifications for monetary policy all through the process of its operation.3 Effects may be felt on the central bank’s ability to operate monetary policy, the connection between interest rates it controls and key market rates, how these rates affect the real economy and inflation, and the feedback from real economy data to policy setting. This paper discusses these effects in turn. Many of them will probably only be manifest in the medium- to long- term but given the rapid development of the internet some could occur surprisingly soon. While e-finance also has important implications for financial stability, bank supervision, consumer protection, security and law enforcement, these are outside the scope of this note.4 2. Monetary policy operating procedures Implementing monetary policy involves the central bank’s role as operator of the inter-bank settlement market and the monopoly supplier of liquidity to it. Other entities could affect financial markets by operating on a sufficiently large scale, but only the central bank can do so by operating on a small scale. The central bank can generally determine the interest rate prevailing in the inter-bank market to an adequate degree of precision; for example, the average deviation between the federal funds overnight rate and its target over the past year has been only 7 basis points. Monetary policy will be effective to the extent that this interest rate affects other interest rates and so ultimately output and inflation.5 Often the central bank does not even need to operate in the market; it can merely announce its desired rate (‘open mouth operations’) and the rate in the market will move there. -
Public Finance Authority
PRELIMINARY OFFICIAL STATEMENT DATED MAY 31, 2018 NEW ISSUE RATING: Fitch: BB BOOK-ENTRY ONLY In the opinion of Womble Bond Dickinson (US) LLP, Bond Counsel, under existing law and assuming continuing compliance by the Authority and the Corporation with their respective covenants to comply with the requirements of the Internal Revenue Code of 1986, as amended (the “Code”), as described herein, interest on the Bonds will not be includable in the gross income of the owners thereof for purposes of federal income taxation. Bond Counsel is also of the opinion that interest on the Bonds will not be a specific preference item for purposes of the alternative minimum tax imposed by the Code. Interest on the Bonds will not be exempt from State of Wisconsin or State of North Carolina income taxes. See “TAX TREATMENT.” $91,460,000* PUBLIC FINANCE AUTHORITY RETIREMENT FACILITIES FIRST MORTGAGE REVENUE BONDS (SOUTHMINSTER) SERIES 2018 Dated: Date of Delivery Due: As shown on inside front cover The Bonds offered hereby (the “Bonds”) are being issued by the Public Finance Authority (the “Authority”) pursuant to a Trust Agreement between the Authority and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Bond Trustee”), for the purpose of providing funds to Southminster, Inc. (the “Corporation”), to be used, together with other available funds, to (i) pay the costs of the Project (as defined herein), (ii) fund Reserve Fund No. 1 (as defined herein) and (iii) pay certain expenses incurred in connection with the issuance of the Bonds. See “THE PROJECT” in Appendix A hereto and “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS” herein. -
Explaining the Appearance of Open-Mouth Operations in the 1990S U.S
Explaining the Appearance of Open-Mouth Operations in the 1990s U.S. Christopher Hanes [email protected] Department of Economics SUNY-Binghamton P.O. Box 6000 Binghamton, NY 13902 July 2018 Abstract: In the 1990s it became apparent that changes in the FOMC’s target rate could be implemented through announcements alone - “open mouth operations” - without adjustments to reserve supply or the discount rate. This cannot be explained by standard models of the Fed’s system of policy implementation at the time. It differed from experience in the 1970s, the earlier era of interest-rate targeting, though the structure of implementation appeared essentially similar. I explain the appearance of open-mouth operations as a consequence of longstanding Fed discount-window lending practices, interacting with a decrease after the 1970s in the relative importance of discount borrowing by small banks. Data on discount borrowing by large versus small banks in the 1980s-1990s and the 1970s support my explanation. JEL codes E43, E51, E52, G21. Thanks to James Clouse, Selva Demiralp, Cheryl Edwards, William English, Marvin Goodfried, Kenneth Kuttner and William Whitesell. - 1 - In the 1990s Federal Reserve staff found that market overnight rates changed when the Federal Open Market Committee (FOMC) signalled it had changed its target fed funds rate, even if the staff made no adjustment to the quantity of reserves supplied through open-market operations. Eventually the volume of bank deposits responded to interest rates through the usual “money demand” channels, and the Fed had to accommodate resulting changes in the quantity of reserves needed to satisfy fractional reserve requirements or clear payments.