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Daily Archives: May 17, 2012

The Economist – Special Report on Retail Banking

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Retail renaissance – The internet and mobile phones are at long last turning boring old retail banking into an exciting industry, says Jonathan Rosenthal

  • “The effect of the debt bubble was more insidious than it appeared at first glance. In encouraging universal banks to build up their investment side, and some retail banks to dabble in exotic instruments that they did not always understand (demonstrating that even boring retail banks can blow up), it made them take their eyes off their bread-and-butter business. Yet basic retail banking was, and remains, their main engine of profitability. McKinsey, a consulting firm, reckons that it accounts for more than half banks’ worldwide annual revenue, which in 2010 amounted to $3.4 trillion (see chart). It has also proved, in the longer run, to be the most reliable generator of consistent profits and high returns on equity. A ranking of the world’s biggest banks by return on equity correlates closely with the proportion of revenue they make from retail banking, rather than from racier investment banking.”
  • Related postings on the financial system

    • Women's Well-Being: Ranking America’s Top 25 Metro Areas

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    “In which U.S. cities are women living the longest, earning the most money, and boasting the highest levels of educational attainment? Lots of studies compare American cities—where is the rent cheapest, the commutes shortest, the crime lowest, the weather balmiest? Women’s Well-Being: Ranking America’s Top 25 Metro Areas explores where women are doing best, ranking… Continue Reading

    New GAO Reports: Antidumping and Countervailing Duties, 2020 Census, Foreign Police Assistance, Grants Management, Assistance for Needy Families

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    Antidumping and Countervailing Duties – Management Enhancements Needed to Improve Efforts to Detect and Deter Duty Evasion, GAO-12-551, May 17, 2012 2020 Census – Additional Steps Are Needed to Build on Early Planning, GAO-12-626, May 17, 2012 Foreign Police Assistance – Defined Roles and Improved Information Sharing Could Enhance Interagency Collaboration, GAO-12-534, May 9, 2012… Continue Reading

    OPEC Monthly Oil Report May 2012

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    OPEC Monthly Oil Report May 2012 – Oil Market Highlights: “After three consecutive monthly gains, the OPEC Reference Basket declined in April to settle at $118.18/b, representing a drop of $4.79 or 3.9%. Prices remain elevated by the risk premium associated with ongoing geopolitical factors. The decline in the value of the Basket came with… Continue Reading

    EPIC: Privacy Board Approved by Judiciary Committee, Vote Moves to Senate

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    “The Senate Committee on the Judiciary has approved President Obama’s five nominees for the Privacy and Civil Liberties Oversight Board. The Board is an independent entity charged with ensuring that fundamental rights are protected in the implementation of government programs, including cybersecurity. Originally convened in 2004, the five seats on the Board have remained vacant… Continue Reading

    The Challenge of Individual Income Tax Reform: An Economic Analysis of Tax Base Broadening

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    CRS – The Challenge of Individual Income Tax Reform: An Economic Analysis of Tax Base Broadening. Jane G. Gravelle, Senior Specialist in Economic Policy, Thomas L. Hungerford, Specialist in Public Finance. March 22, 2012 “There are over 200 separate tax expenditures, which are projected to total over $1.1 trillion in FY2014. The revenue loss of… Continue Reading