Discussion 3

8.  You work for a financial services company. The company is unsure how to interpret the hype in the market about the implications of digital innovation and disintermediation for its own future. You recall having studied some podcasts about the use of digital currency & the use of satellite imaging to disburse financial support during pandemic. Explain to your financial services company: How the digital currency is likely to impact the financial services industry? How the introduction of digital currency is likely to impact the conduct of monetary policy for a country? What is the potential role and prospects for Canada in its attempt to introduce digital currency?

“The banking industry has changed dramatically over the years. While customers regularly walked into a branch to withdraw money, transfer funds, or seek information about products about 50 years ago, today, a majority of customers prefer to conduct basic financial transactions online, leading to the popularity of digital banking.”   How COVID-19 Pandemic will give impacts on digital banking in financial markets and institutions: Elaborate 3 opportunities and 2 challenges

QUESTION 1 Which is not an issue in the context of Fintech regulation? O Increased technological costs. O Weighing the costs and benefits of regulation for consumers and innovation. O Decentralizing Fintech regulation, which is harder to override by centralized, federal regulation. O Supporting Fintech companies with government funding. O Creating "safe spaces" for Fintech companies to test our their businesses. QUESTION 2 Excess reserves are Insurance from deposit outflow. Suppose you hold 14 million required reserves and 46 million excess reserves at the central bank. The total Interest payment on reserves from the central bank is 0,3%. If you do not hold your excess reserves at the bank, you may take loans and earn 4% in average. What is the cost of holding excess reserve at the central bank? O $60.000,000 O $1.665,000 O $1.702.000 O $555.000 O $518.000

ETHICAL DILEMMA "We must get it," Erickson Santos, president of Industrial Fasteners, roared. "Without it, we're in big trouble." The "it" Mr. Santos referred to is the renewal of a P20 million loan with Manila First Bank. The big trouble he fears is the lack of funds necessary to repay the existing debt and few, if any, prospects for raising the funds elsewhere. Mr. Santos had just hung up the phone after a conversation with a bank vice-president in which it was made clear that this year's statement of cash flows must look better than last year's. Mr. Santos knows that improvements are not on course to happen. In fact, cash flow projections were dismal. Later that day, Timothy Dela Cruz, assistant controller, was summoned to Mr. Santos's office. "Dela Cruz," Santos barked, "I've looked at our accounts receivable. I think we can generate quite a bit of cash by selling or factoring most of those receivables. I know it will cost us more than if we collect them ourselves, but it sure will…

10. In the news: Recently, the malware Wannacry infected many computers worldwide. In order to recover their file, the victims had to pay a certain amount. In what currency was the payment required? a) Bitcoin b) Euro c) Russian Roebel d) US Dollar

1 How does the cryptocurrency trend affect businesses and consumers (both globally and domestically)?

Question 55 What is the best way to describe the whitepaper of a crypto/blockchain project? O A rewrite of the yellow paper for readability, in a more organized format A document that describes the specifications of the protocol which is difficult to decipher for those who are not proficient in mathematics or algebra O A document gives investors technical information about its concept, and a roadmap for how it plans to grow and succeed A tentative government report and consultation document of policy proposals for debate and discussion

What are some arguments in favor of continuing government support of Citigroup? Discuss who would be hurt by the bank's failure. Is the failure of Citigroup different from that of other firms? Does the government have people to manage such a global financial enterprise?

Question 2 No doubt that information asymmetry has been responsible for the survival of commercial and investment banks. Now with the coming age of the internet and rapid growth in telecommunication technology, information dissemination is no longer a critical consideration for financial market participants. Would these continuing developments then lead to the demise of commercial and investment banking activities? Explain.

A4 Finance Suppose the FED has just learned that the Treasury will need to borrow a much larger amount of money than originally expected. Discuss how this incident could affect the degree to which the FED changes their monetary policy. If there were changes, would you agree with them?

The term FinTech includes a huge range of products, technologies, and business models that are changing the financial services industry, referring to a big range of services from cashless payments, to crowdfunding platforms, to robo-advisors, and to cryptocurrencies. true or false?

Which of the following is TRUE about blockchain financial transactions? The complexity of blockchain-based payment solutions can present barriers to mass adoption, such as credit cards, Bitcoin scalability improvements and advancements are why Bitcoin is now acceptable in most places and by most vendors. Blockchain security concern is the primary reason why Bitcoin, Ethereum and other cryptocurrency still hasn't become a mainstream payment solution like credit cards. Regulation has generally strangled the use of cryptocurrency and continues to remain the major barrier to adoption.

What is the difference between technology risk and operational risk? How does internationalizing the payments system among banks increase operational risk

Efforts to improve global financial system hampered by Covid-19 James Langton October 7, 2020 Global policymakers’ effort to enhance oversight of financial markets by improving data collection, which was launched in the wake of the 2008 financial crisis, is being disrupted by the current Covid-19 crisis. According to a new report from the Financial Stability Board (FSB) and the International Monetary Fund (IMF), the pandemic has created “significant challenges” for the ongoing effort to improve oversight of the global financial system — a project known as the G20 Data Gaps Initiative (DGI). The primary objective of the DGI is to ensure that policymakers have access to reliable and timely statistics, enabling them to better monitor for systemic risk, and to assess vulnerabilities, interconnections, and potential spillovers in the financial system. The report said that lockdowns in response to the pandemic have hampered data collection and required a shift in resources to other…

what are the advantages and drawbacks for digital Technology: How It Could Transform the International Monetary System, and what are the suggestions for reducing the risks?

Question #1 – What is the ‘expectations gap’? Is there even anything the accounting profession can do to close this ‘Expectations Gap’? Question #2 – To converge or not to converge, that is the question. The adoption of IFRS by U.S. companies would it easier to compare U.S. and foreign companies, as well as for U.S. companies to raise capital in foreign markets.

Y2 Please help with Development of an Anti-Fraud Program The potential for fraud occurs in all organizations, regardless of the industry in which it operates, financial structure, or size. Every organization is vulnerable to fraud. The risk of fraud should be reduced as much as possible to improve the longevity of the organization. Hence, preventing, deterring, and detecting fraud are crucial to the success of organizations. Deterring and preventing fraud can be more economical than detecting, investigating, and recovering from fraud after the fact. These anti-fraud measures must start at the top and must be communicated throughout the organization. They must go beyond internal controls yet consider the cost-benefit. Please explain ho to develop an anti-fraud program, or model, that can be implemented in any organization. In other words, don't apply the model to a specific organization. The model, if applied correctly, must be efficient in preventing, detecting and deterring fraud.…

Which one of the following statements is true of E-commerce? Question 13Answer a. It  involves the exchange of an electronic item for cash.  b. Banks are reducing their use of e-commerce platforms because of cyber attacks. c. Includes trading and transferring of funds by using computer networks. d. E-commerce is not as secure as traditional delivery channels.

CASELET: ABC Bank, one of the 26 PSBs of India, transformed itself into a process driven, IT-enabled bank, post nationalization. Over the past decade, ABC Bank had embraced new technologies by offering its services not only through internet but also through alternate channels including mobile banking at an early stage. Strategically, ABC Bank has positioned itself well at a time when rapid disruptive changes are taking place in the financial sector. It had faced the challenges in a much better way than many other peers through institutional leadership and digital drive. The history of ABC Bank's strategic digital positioning through its forward looking leadership is an example which is unique. The bank has set a target of becoming the 'Best Retail Bank in Customers' Perception by 2021'. The strategists at ABC Bank are pondering on the future course of action. It cannot ignore the competition from private banks and the new entrants but still has to step ahead of them if it has to…

How COVID-19 Pandemic will give impacts on digital banking in financial markets and institutions: Elaborate 3 opportunities and 2 challenges

As international monetary system is looking into moving forward towards digital transformation, What are the advantages and drawbacks, and What are the suggestions for reducing the risks.    https://www.imf.org/en/News/Articles/2021/06/30/sp063021-digital-technology-how-it-could-transform-the-international-monetary-system (Links to an external site.)

In recent years, cyber-related systems and networks have been playing an increasing role in the financial sector. The financial sector relies on these infrastructures for processing transactions and transferring funds which has made them attractive and susceptible targets for cyber-attacks. Being high-profile targets creates a distinct challenge for financial institutions since they must strike an optimal balance between security and maintaining efficient and reliable operations for their customers. Today, cybercrime poses a real and persistent threat to financial institutions of all sizes and the number of companies that fall victim to cybercrime and digital espionage continues to rise. The financial services sector and its customers are heavily targeted by all those actors. Furthermore, the threat environment has become more sophisticated and diverse. In recent times, cybercriminals have managed to bypass security controls and to exploit breaches or vulnerabilities within the cyber…