Northern Rock Foundation
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Northern Rock Foundation
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Author : Fred Robinson
language : en
Publisher:
Release Date :
Northern Rock Foundation written by Fred Robinson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with Charities categories.
The Creation And Sale Of Northern Rock Plc
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Author : Great Britain: National Audit Office
language : en
Publisher: The Stationery Office
Release Date : 2012-05-18
The Creation And Sale Of Northern Rock Plc written by Great Britain: National Audit Office and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-18 with Business & Economics categories.
The Treasury's decision in early 2009 to support mortgage lending by splitting Northern Rock in two was reasonable but based on a business plan prepared by Northern Rock management which events quickly showed to have been optimistic. The Treasury went ahead with the split without further detailed analysis. The alternative of selling the deposits and closing down the business was, however, unlikely to have been significantly better. Although targets were not met, lending by Northern Rock plc was over 20% of all mortgage lending during 2010 and 2011. The financial performance of the business was worse than planned, principally owing to the continuation of low interest rates. In 2011, UK Financial Investments (UKFI), a body owned by the Treasury, reviewed a full range of options for the future of Northern Rock plc. The NAO considers that UKFI's recommendation for an early sale was the best way to minimise the losses. The sales process went well and UKFI improved the overall offer from Virgin Money. The NAO expects the taxpayer to lose £480 million of its original £1.4 billion investment in Northern Rock plc. If account is taken of the likely value of Northern Rock assets remaining in public ownership, UKFI expects that the taxpayer will recover all of the cash provided. However there could be a net present cost for the taxpayer of some £2 billion by the time the assets are fully wound down. This net present cost should, however, be seen as part of the overall cost of securing the benefits of financial stability during the financial crisis.
The Run On The Rock
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Author : Great Britain: Parliament: House of Commons: Treasury Committee
language : en
Publisher: The Stationery Office
Release Date : 2008-01-26
The Run On The Rock written by Great Britain: Parliament: House of Commons: Treasury Committee and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-26 with Business & Economics categories.
This Treasury Committee report examines the first run on the retail deposits of a United Kingdom bank since Victorian Times and analyses the causes and the consequences of the run on Northern Rock and what lessons can be learned. The Committee states the following: that the directors of Northern Rock were the principal authors of the difficulties that the company faced since August 2007; that the directors had pursued a reckless business model which was excessively reliant on wholesale funding; that the Financial Services Authority systematically failed in its regulatory duty; that the Chancellor of the Exchequer was right to view Northern Rock as posing a systemic risk to the financial system and to authorise the Bank of England's support. The Committee sets out 83 conclusions and recommendations, including: a series of measures for handling failing banks in an orderly manner to insulate taxpayers and small depositors; that a relevant authority be given power to acquire information relating to individual financial institutions and take action in specified circumstances; also that a special resolution regime should be established for failing banks to enable smooth administration of the bank and that this is combined with arrangements ensuring insured deposits are safe and accessible; that a Deposit Protection Fund be set up, that will ensure easy release of funds under any scheme; that a new post of Deputy Governor of the Bank of England and Head of Financial Stability should be created, with responsibility for handling failing banks and the proposed Deposit Protection Fund.
Adding Value Being Richer
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Author : David (David G.) Wilkinson
language : en
Publisher:
Release Date : 2007
Adding Value Being Richer written by David (David G.) Wilkinson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Unemployed categories.
Money
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Author : Mellor, Mary
language : en
Publisher: Policy Press
Release Date : 2019-07-03
Money written by Mellor, Mary and has been published by Policy Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-03 with Social Science categories.
What does money mean? Where does it come from and how does it work? In this highly topical book, Mary Mellor, an expert on money, examines money’s social, political and commercial histories to debunk longstanding myths such as money being in short supply and needing to come from somewhere. Arguing that money’s immense social value means that its creation and circulation should be a matter of democratic choice, she sets out a new finance system, based on green and feminist concerns, to bring radical change for social good.
The Decline And Fall Of Banking
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Author : Bill Penman Brown
language : en
Publisher: Troubador Publishing Ltd
Release Date : 2009
The Decline And Fall Of Banking written by Bill Penman Brown and has been published by Troubador Publishing Ltd this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Banks and banking categories.
A detailed but plain language analysis of the credit crises of 2007/8 the Northern Rock situation and the collapse of other banks in the UK, USA and Europe. The book explains the part played by sub-prime mortgages and derivatives/securitisation, both of which were at the heart of the financial crises. The Decline and Fall of Banking deals with financial regulation and intervention by governments together with the role played by credit rating agencies and credit insurers.
The Virgin Banker
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Author : Jayne-Anne Gadhia
language : en
Publisher: Random House
Release Date : 2017-04-20
The Virgin Banker written by Jayne-Anne Gadhia and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-20 with Biography & Autobiography categories.
Jayne-Anne Gadhia, the straight-talking CEO of Virgin Money, looks back at the events that have influenced, shaped and inspired her to become one of the most powerful women in banking. With anecdotes from her life before becoming a banker, including beating the bullies and experiencing racism as part of a mixed race marriage, through to building a business from scratch, working at RBS under Fred Goodwin just before the financial crash, and steering Virgin Money to become a listed business, breaking boundaries along the way, professionally and personally. Jayne-Anne shines a light on issues surrounding the role of women in banking and the alpha-male dinosaurs that dominate the industry. She draws on the relationships and deals that have shaped her career so far, including her personal experience with mental health issues, which has helped her attitude and approach to both her business and personal life. This is not a conventional biography, nor a ‘how to do it’ business book. It is a candid, fresh and fascinating insight into being a woman in business, the financial crisis and the way in which business can be conducted as a force for good.
The Origins And Development Of Financial Markets And Institutions
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Author : Jeremy Atack
language : en
Publisher: Cambridge University Press
Release Date : 2009-03-16
The Origins And Development Of Financial Markets And Institutions written by Jeremy Atack and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-16 with Business & Economics categories.
Collectively, mankind has never had it so good despite periodic economic crises of which the current sub-prime crisis is merely the latest example. Much of this success is attributable to the increasing efficiency of the world's financial institutions as finance has proved to be one of the most important causal factors in economic performance. In a series of insightful essays, financial and economic historians examine how financial innovations from the seventeenth century to the present have continually challenged established institutional arrangements, forcing change and adaptation by governments, financial intermediaries, and financial markets. Where these have been successful, wealth creation and growth have followed. When they failed, growth slowed and sometimes economic decline has followed. These essays illustrate the difficulties of co-ordinating financial innovations in order to sustain their benefits for the wider economy, a theme that will be of interest to policy makers as well as economic historians.
The University And The City
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Author : John Goddard
language : en
Publisher: Routledge
Release Date : 2013-02-11
The University And The City written by John Goddard and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-11 with Business & Economics categories.
Universities are being seen as key urban institutions by researchers and policy makers around the world. They are global players with significant local direct and indirect impacts – on employment, the built environment, business innovation and the wider society. The University and the City explores these impacts and in the process seeks to expose the extent to which universities are just in the city, or part of the city and actively contributing to its development. The precise expression of the emerging relationship between universities and cities is highly contingent on national and local circumstances. The book is therefore grounded in original research into the experience of the UK and selected English provincial cities, with a focus on the role of universities in addressing the challenges of environmental sustainability, health and cultural development. These case studies are set in the context of reviews of the international evidence on the links between universities and the urban economy, their role in ‘place making’ and in the local community. The book reveals the need to build a stronger bridge between policy and practice in the fields of urban development and higher education underpinned by sound theory if the full potential of universities as urban institutions is to be realised. Those working in the field of development therefore need to acquire a better understanding of universities and those in higher education of urban development. The insights from both sides contained in The University and the City provide a platform on which to build well founded university and city partnerships across the world.
Corporate Community Involvement
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Author : Nick Lakin
language : en
Publisher: Routledge
Release Date : 2017-09-08
Corporate Community Involvement written by Nick Lakin and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-08 with Business & Economics categories.
"We need to do Community Involvement better – we know we're spending millions each year on charitable causes; how can we find out what is really effective and what people will appreciate us for? Who should we partner with? How can we make a real difference in society and help our business?" Companies around the world are trying to answer these questions. Many are asking the same questions even as, collectively, they continue to spend billions on their communities. How do they know which activities are really worthwhile? Building on the authors' own extensive global experience at Nokia and E.ON, as well as the experience of many other experts in the field, this book offers the first-ever "how to" roadmap for managers on the comprehensive implementation of strategic Community Involvement inside their companies. It is designed to be practical, for those who want to act upon what they have read. It will fill a long-neglected niche as a day-to-day reference guide for practitioners. Corporate Community Involvement demonstrates what to do and how to do it. The advice is backed up by inspiring interviews with best-in-class practitioners from businesses such as Microsoft, GlaxoSmithKline, Ericsson, and Deutsche Bank and leading international Corporate Responsibility and Community Involvement experts. The book highlights proven best-practice approaches, effective methods, and concise tools to help managers "get there faster" and "get it right first time." The core of the book is a step-by-step guide to developing and implementing a comprehensive and successful approach to Corporate Community Involvement. It shows how to: conduct a current state analysis and devise a strategy, organize staffing and budgets, integrate Corporate Community Involvement throughout the business and create high-profile programs, partner across sectors, measure and evaluate results, communicate successful activities, and overcome challenges. Corporate Community Involvement has an international perspective: the models and principles advocated are adaptable anywhere in the world. Also, it is designed to have as much relevance to a small or medium-sized enterprise as to a multinational. The book outlines the history and future of Corporate Community Involvement, explaining the business context and why companies need to manage their programs strategically. It also distinguishes between the growing lexicon of terminologies and provides clear definitions of terms such as "philanthropy", "sponsorship", "Corporate Citizenship", "Corporate Responsibility" and "Sustainability", advising when they are appropriate and how each can add value to corporate activities. This will be an indispensible resource for those working at the interface between business and the community. New or developing practitioners will learn from both the successes and failures of those before them. Representatives from other sectors, notably government, international agencies, NGOs, and academia, will come to understand companies' internal requirements for cross-sector collaboration programs in the community better. And students interested in this field will be better equipped to start careers.