Banking Finance

Like all Metrics Systems, Bank Metrics are a set way for banks to quantify their performance. Bank Metrics, like Performance Metrics is to be formulated according to the banks goals as well as the standards that they set for themselves. Banks differ in Goals. Some banks may see customer turnover as basis of success as opposed to some banks that view revenue as item by which they measure their success rate. There are several categories that help banks organize their metrics system report. Below are a few categories that can be found in a bank metrics report. Knowledge of the following will help Financing Heads and Company leaders to better understand the reports that are handed to them.

General Ledger Measurements can be found in a Bank Metric Report. A General Ledger Measurements is considered to be a fundamental analysis that businesses can perform when they are on a normal operating cycle. The data gathered here is noted down on balance sheets and information on the Bank.. Read More

The bank foreclosure process is a several step process which is activated by a bank which owns a mortgage that is not being paid on. Typically a bank will take steps to correct the situation prior to beginning the bank foreclosure process. This is due to the fact that this foreclosure process is quite costly to the bank and under most circumstances the bank will end up losing money on the resale of the home as well making it a huge overall loss to the bank.

There are actually three common steps associated with a bank foreclosure. The first step is when the bank files for lis pendens or suit pending. Essentially this stage is when the bank files a formal document with the court system indicating that they have no received a mortgage payment for a period of time. Most banks will allow around six months of no payment before proceeding with this step.

The second step of the bank foreclosure process is when an attorney representing the bank formally requests an auct.. Read More

It may sound great to have an offshore bank account guarded by razor-sharp banking secrecy, but is it all that it seems? Here we explore what bank secrecy really is, and whether countries will actually enforce it to protect your privacy.

Bank Secrecy, also referred to as banking or financial secrecy refers to a legal principle which allows banks to keep their client information confidential. This is extremely important to protect against fiscal fraud and identity theft, but while in some countries like Switzerland or Panama breaking bank secrecy could land you in jail, in other countries it is routinely broken without penalty.

Why is this? There is great potential for fraud and/or money laundering if bank information is kept entirely confidential. Governments would be powerless to stop criminal elements porting ill-gotten money around at will. The US government was one of the first to introduce legislation to combat fraud with its 1970 bank secrecy act. This required ban.. Read More

Just a few years ago, bigger was better in the banking industry.  Big banks with scores of branches meant safety and stability – just like the Roman Empire.  But that empire has been tumbling down.  Large banks are on the edge of insolvency and the Federal Deposit Insurance Corporation (FDIC) is cracking down on the banking industry, making their enforcement actions public.

But are all banks the same? With the constant reporting of the unethical if not immoral behavior on Wall Street from the media, the banking industry, in general, has been getting a bad rap.  But ‘generalties’ have never faired man well.  The discerning individual, if he is to navigate the troubled economic waters of our present day must be able to filter out the good from the bad, have access to the rating systems of the banks and determine from his own research which bank will serve him the best – and moreover, who will be there when the deck of cards fall.  One has to know ho.. Read More

Many people are dread with the thought of learning bank reconciliation, but in reality, it is not really very difficult to perform. All you require is the fundamental skill to add and subtract. With a little of practice, you can turn out to be skilled at bank reconciliation and be capable to ensure that your bank account is showing the amount that it supposed to be showing. Here are the 5 easy steps to learn bank reconciliation.

Step 1

Be familiar with bank reconciliation. You record the figure of money that is going out and coming into your account, when you write and deposit checks (if you’re American) and cheques (if you’re British). Your bank also does the same. The procedure of bank reconciliation is to make sure that you and the bank are showing the same figures in your bank account.

Step 2

Understand the need of bank reconciliation. More than often people overlook to record a check that they wrote or a deposit. These can consequence in bounced.. Read More

If you have been taking a look at certificates of deposits, you will almost certainly be aware why a longer maturity rate on them will get you more cash. But you might have often wondered what it is that goes into the best CD rates; whether it is Ally bank CD rates or CD rates of any other bank for that matter. You will want to know this from Ally bank formerly know as GMAC bank and other banks too so that you get the maximum returns on your investment no matter what your method might be.

But then getting the best of just about anything needs a substantial amount of effort to be put in and it is not any different when it comes to Ally bank CD rates. You will have to take a look at all the possible CDs available before you go on to decide which ones in Ally bank will get you the highest rates. This information you might get by going online or visiting the banks or through word of mouth from friends and family who have already invested in them.

If you will be working on y.. Read More

The Central Bank of Nigeria (CBN) has announced the sack of 5 bank chiefs in the country. Those who fail to see through their nose have hastily hailed the action calling it an action in the right direction. It is typical for Nigerians to make hasty reactions usually hailing decisions from our action-packed leaders. This is one of the cases.

Although, the action of the sack of the bank chiefs is too belated to reverse, it is definitely not one with the aim of strengthening the financial base of our economic system. It is like curing a symptom but not the cause of an illness. Something is surely responsible for the ailing of the banks in the country; this is rather what the Central Bank of Nigeria and the leaders of the nation must hasten to find solution to. Take over of banks in the country will do nothing to move us forward. Soon and very soon, the Governor of Central Bank of Nigeria will take over all the banks in the country, never to return them.

.. Read More