The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.
A series of currency devaluations and oil crises in the 1970s led most countries to float their currencies. The world economy became increasingly financially integrated in the 1980s and 1990s due to capital account liberalization and financial deregulation. A series of financial crises in Europe, Asia, and Latin America followed with contagious effects due to greater exposure to volatile capital flows. The global financial crisis, which originated in the United States in 2007, quickly propagated among other nations and is recognized as the catalyst for the worldwide Great Recession. A market adjustment to Greece’s noncompliance with its monetary union in 2009 ignited a sovereign debt crisis among European nations known as the Eurozone crisis.
A country’s decision to operate an open economy and globalize its financial capital carries monetary implications captured by the balance of payments. It also renders exposure to risks in international finance, such as political deterioration, regulatory changes, foreign exchange controls, and legal uncertainties for property rights and investments. Both individuals and groups may participate in the global financial system. Consumers and international businesses undertake consumption, production, and investment. Governments and intergovernmental bodies act as purveyors of international trade, economic development, and crisis management. Regulatory bodies establish financial regulations and legal procedures, while independent bodies facilitate industry supervision. Research institutes and other associations analyze data, publish reports and policy briefs, and host public discourse on global financial affairs.
While the global financial system is edging toward greater stability, governments must deal with differing regional or national needs. Some nations are trying to orderly discontinue unconventional monetary policies installed to cultivate recovery, while others are expanding their scope and scale. Emerging market policymakers face a challenge of precision as they must carefully institute sustainable macroeconomic policies during extraordinary market sensitivity without provoking investors to retreat their capital to stronger markets. Nations’ inability to align interests and achieve international consensus on matters such as banking regulation has perpetuated the risk of future global financial catastrophes.
Archive | November, 2017
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In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).
The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business. One can classify assets into two major asset classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment.
Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace. Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.
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SUNY Broome Community College, or SUNY Broome, is a SUNY two-year college in Broome County, New York. The college was founded in 1946 and went through several name changes. The school is located in the Town of Dickinson, just north of the City of Binghamton, New York. The college had a 2010 enrollment of over 6,000 students and has alumni of over 41,000.
BCC serves students from a single campus on Upper Front Street in Dickinson, New York, though some classes are taught in Waverly, Owego and within the city of Binghamton at smaller classroom centers. The campus’ 15 buildings comprise 610,000 square feet (57,000 m2) of space, and feature recently upgraded athletic facilities such as baseball fields, soccer and lacrosse field, publicly accessible tennis courts, the Dick Baldwin Gym, named after the third winningest college basketball coach across both two and four year colleges, and a new ice rink. There is also a theater which hosts campus performances of plays and other theatrical work, entitled The Little Theater.
It offers a variety of classes to all students that plan on finishing their 2-year degree at SUNY Broome or hope to transfer to a 4-year school. Many students transfer to nearby Binghamton University after their first 2 years.
College President: Dr. Kevin Drumm
Executive Vice President and Chief Academic Officer: Francis Battisti
Acting VP Student and Community Engagement: Carol Ross
Acting VP Administrative and Financial Affairs: Michael Sullivan
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The European System of Financial Supervision (ESFS) is the framework for financial supervision in the European Union in operation since 2011. The system consists of the European Supervisory Authorities, the European Systemic Risk Board, the Joint Committee of the European Supervisory Authorities, and the national supervisory authorities of EU member states. It was proposed by the European Commission in 2009 in response to the financial crisis of 2007–08.
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A 529 plan is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary.
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Eli Global is a multinational organization located in Durham, NEW YORK, USA and founded in 1991. The business provides information and financial services. It has the marketplace research company BCC Research and online education company AudioSolutionz (A Department of ProEdTech).
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A financial system (within the scope of finance) is a system that allows the exchange of funds between lenders, investors, and borrowers. Financial systems operate at national, global, and firm-specific levels. They consist of complex, closely related services, markets, and institutions intended to provide an efficient and regular linkage between investors and depositors.
Money, credit, and finance are used as media of exchange in financial systems. They serve as a medium of known value for which goods and services can be exchanged as an alternative to bartering. A modern financial system may include banks (operated by the government or private sector), financial markets, financial instruments, and financial services. Financial systems allow funds to be allocated, invested, or moved between economic sectors. They enable individuals and companies to share the associated risks.
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The sugar industry subsumes the production, processing and marketing of sugars (mostly saccharose and fructose). Globally, most sugar is extracted from sugar cane (~80 % predominantly in the tropics) and sugar beet (~ 20%, mostly in temperate climate like in the U.S. or Europe).
Sugar is an essential basis for soft drinks/sweetened beverages, convenience foods, fast food, candy / sweets, confectionery, baking products and the respective industries.
A 2013 report from BCC Research estimates the global market for sugar and sweeteners at about $77.5 billion in 2012 with sugar comprising an almost 85% share. The market is thought to increase at a compound annual growth rate of 4.6%.
Around 460 million tonnes of sugar is produced every year. The largest producers are Brazil (72%), India (15%) and the European Union (10%). Altogether, there are more than 123 sugar-producing countries, but only 30% of the produce is traded on the international market. In 2011 global sugar export trade was worth $47bn with $33.5bn of sugar exports are from developing countries and $12.2bn from developed countries.
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The main elements of Japan’s financial system are much the same as those of other major industrialized nations: a commercial banking system, which accepts deposits, extends loans to businesses, and deals in foreign exchange; specialized government-owned financial institutions, which fund various sectors of the domestic economy; securities companies, which provide brokerage services, underwrite corporate and government securities, and deal in securities markets; capital markets, which offer the means to finance public and private debt and to sell residual corporate ownership; and money markets, which offer banks a source of liquidity and provide the Bank of Japan with a tool to implement monetary policy.
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Bergen Community College is an accredited, co-educational, two-year, public community college located in Bergen County, New Jersey. Bergen Community College was founded in 1965 to provide accessible, affordable, and comprehensive community education services for the Bergen County region. Over the past 50 years, the college has expanded its main campus to include an expansive library, theater, student center, and most recently a new Health Profession Integrated Teaching Center with state-of-the-art laboratory equipment. In 1970, the Ciarco Learning Center in Hackensack, NJ was founded to provide non-credit education and counseling services including GED and adult ESL courses. Most recently, in an attempt to expand its offerings to the southern portion of Bergen County, a new satellite site, Bergen Community College at the Meadowlands, began offering courses at a newly-purchased facility in Lyndhurst, NJ. As of Fall 2016, Bergen Community College enrolled 14,500 students in degree programs, as well as over 8,000 students in continuing and adult education programs.
Bergen Community College has been accredited by the Middle States Association of Colleges and Schools since 1972, and was most recently reaccredited in 2016. Individual programs are accredited by the Commission on Accreditation of Allied Health Education Programs, the National League for Nursing, the American Dental Association, the Joint Review Committee on Education in Radiologic Technology, The National Accrediting Agency for Clinical Laboratory Services, and the American Physical Therapy Association. The Paralegal Studies Program and the Legal Nurse Consultant Program are approved by the American Bar Association.
The interim president of Bergen Community College is Dr. Michael Redmond.
During the 2017-2018 academic year, Bergen Community College is celebrating its 50th anniversary.
