|Banks and bank-like financial institutions operating within the United States and within most other countries must deal with extensive regulation in the form of rules and laws enforced by federal and state agencies. These regulations cover and monitor all areas of their operations, service offerings, credit quality and quantity, capital position, and the manner in which they grow and expand their facilities. This regulatory climate is primarily designed to protect the public interest, to encourage savings and investment by establishing an environment of economic soundness and stability, and to provide the public adequate financial information and credit without discrimination.
Additionally, the actions of banks can have effects which reach far into the structure of an economy: they have the power to create money by making loans and investment through extending credit; they provide loans that support consumption and investment spending; and they have long had a functional involvement with government through collecting taxes, dispensing government payments and other operations which closely tie them into the economic climate and policy-making. Cushman, p. 133).
In the United States, banks are regulated through a dual banking system; they are governed at both the state and federal level. This was designed to give the states significant control over banks, and also to ensure that banks would be treated fairly as they expanded their operations across state lines.
Regulatory agencies are responsible for gathering and evaluating the information necessary to assess the true financial condition of banks to protect the public against loss due to mismanagement, embezzlement or fraud through periodic examinations and/or audits. (Rose, p. 33).
The main re ...
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Transport management is now far more sophisticated than it was a decade ago.
Transport activities generate a wide range of economic benefits. Between 2% and 4% of total OECD employment, for example, is derived from transport services, and an estimated 4-9% of GDP in the OECD area is attributable to spending by the users of transport (including expenditure on infrastructure). More than 10% of total household expenditure now goes to purchase transport services (OECD Publications/ECMT). The balance of international payments is also strongly influenced by trade in transport equipment.
Enormous changes have taken place in the transport sector in recent years. The most marked is its unprecedented growth. Both stock variables (fleet size, kilometres of road and rail infrastructure, and so on) and flow variables (number of trips taken, volume of goods transported, and the like) have expanded rapidly. The world's automobile fleet, for example, doubled between 1970 and 1990, to stand today at approximately 500 million vehicles. These numbers are expected to double over the next 20-40 years, although at a slower rate in OECD countries than in the past.
Substantial structural, changes have also taken place. For one thing, there has been a major shift in where transport growth is occurring. In 1950, 75% of all automobiles were located in the United States. Since then, the number outside the United States has grown by about 8% per year (Mackenzie Walsh 1990) with even more remarkable increases in some locations. In Athens, for example, car ownership burgeoned from 35,000 in 1964 to 650,000 in 1984, and is expected to be about 900,000 by this year (Glaoutzi Damianidias 1990). Most future growth in global vehicle stocks ...
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