Monday, February 17, 2020

The Volcker Rule and its Consequences for the Financial and Banking Essay

The Volcker Rule and its Consequences for the Financial and Banking System - Essay Example Federal Reserve has publicly announced that the banking system of US does not need to accept and operate according to the rule before the month of July of 2014 but the banks will have to conduct the process of â€Å"good faith planning efforts† to get ready to accept the rule in the future and during the temporary phase. As banks and the financial system is still not aware of the bans that will be levied, there will be a cloud of uncertainty that these systems will experience for two years (Ciro 2012). These systems are experiencing ambiguity in understanding what does the Federal Reserve means by good faith planning efforts. The ambiguities are making condition worse thus decision makers should make the scenario clear and present the effects of the rule on US and other nations. The cloudy situation was made clear when a draft of the regulation was prepared and this draft consisted of details regarding the services offered by financial system and the way these services are use d by the common public. The situation is still quite unclear for financial institutions as even the draft wasn’t clear enough to identify the effects that the rule will have on financial sector. The European Union and other countries have even showed concerns as they expect that the rule will decrease the liquidity in world financial markets, thus it is quite clear that the rule will impact the financial systems negatively. Body The delay in implementing and clearing the effect of the rule may not help the banks and make situation worse as banks do not have the correct idea of when the rule will be implemented and banks will have to accept the rule legally regardless of whether they understand its effect or not. Legally it is stated that those banks that have operated in good faith effort during the temporary implementation phase will experience less problems in complying with the actual rule. The policy makers should make the scenario clearer instead of making the financial system of US and overseas operate according to their own guess work. The delay is making the financial system take decisions under ambiguous situation which is already hurting the system. Volcker Permitted Bank Activities According to the rule there are certain permitted activities that can be performed by the banks, these activities comprise of banks acting as market maker, underwriter, hedger, deals of government securities and other activities that are stated under the act as permitted activities. These activities have been permitted to ensure that banks continue to provide liquidity to the markets and help companies in raising capital. But these activities have been restricted to ensure that banks do not cross the line and the funds with the bank do not become unsafe. If the permitted activities cannot be conducted in a safe environment and without risky conditions, then the federal system has the right to barge banks from conducting such activities or increase charges and fines on these activities so these activities become unfavourable to the banks. The activities that have been stated as acceptable in the rule are done on the basis that the bank conducts these activities for the customer and only to meet the short term demands of the customers. Rule Effect The Volcker Rule has received its name from the Paul Volcker who was the Federal Reserve Chairman during the period of the financial crises of 2008. The

Monday, February 3, 2020

Designing a Diversity Workshop for University Faculty Incorporating Research Paper

Designing a Diversity Workshop for University Faculty Incorporating Multicultural and International Objectives - Research Paper Example Diversity, in years gone by, was not embraced. In fact, it was often shunned to the point where the country saw many colleges and universities rise to the level one race, one religion, and one culture. To continue with this practice would not only be an injustice to students around the world who have come to cherish our individual freedoms and liberties, but it would service to deny faculty and the student body alike the privilege of learning in a multi-cultural environment. Understanding and accepting people of other cultures and beliefs do not have to be a daunting task. It simply requires compassion and a desire learn from and embrace others. Our university might be small in number, but we have the capacity to develop a cultural awareness that rivals institutions much larger than our own. Our own faculty is diverse, yet we have failed to tap into this reality. We should be making use of our broad range of professional and military experience in order to better understand the diver sity existent around us and to use the knowledge to impact our student body as well. This training program has been developed with our faculty in mind. It will focus on the instructional methodologies inherent in multicultural education, and it will create a sense of global awareness amongst us all that we must be conversant with the latest educational issues, diversity, and multicultural theory. It is in so doing that we will truly become a global institution who can make a positive impact in the field of education, while embracing multicultural diversity and becoming more accepting of each student and staff member who passes through our illustrious halls. Purpose There is no mistaking that the world is becoming increasingly diverse, yet this same diversity has not been reflected in the field of higher education. According to Hill, et. al (2011), only 10% of earned Doctorates in the fields of science, technology, engineering, and mathematics are represented by minority groups (p. 2 0). This not only leaves a great gap in these critical fields, but it indicates a troubling trend. If universities cannot embrace multicultural education, then society will be losing out on valuable learning opportunities moving forward. This purpose of this training workshop is to reverse this trend by providing faculty members with the tools necessary to incorporate multicultural education into the classroom, thereby encouraging diversity and an exchanging of scholarly and academic ideas across cultures. Embracing the diversity amongst us, a further purpose of this workshop will be to share various pedagogical techniques with one another that will serve to enhance our own multicultural understanding. Our students are increasingly coming from a diverse background and we must work together with all students to foster an atmosphere of understanding and respect. This begins with the faculty, each of who has valuable experience to draw from in the field of diversity education. Embracin g all people does require, to some extent, a shift in our way of thinking and the methods that we employ in our disciplines. It has been noted by some faculty members at other institutions that, â€Å"Fundamental and sustainable change is possible, given the right combination of vision, compromise, and commitment† (Grogan & Vaz, 2003, p. 35). It is this primary need for change that forms the basis for this