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- Identify all the regional regulatory institutions within the CIBC FirstCaribbean International Bank regulatory framework. Which three regulators do you believe have the most significant impact on the operations of the bank? Explain your answer.Hepworth Credit Corporation is a wholly owned subsidiary of a large manufacturer of computers. Hepworth is in the business of financing computers, software, and other services that the parent corporation sells. Hepworth has two departments that are involved in financing services: the Credit Department and the Business Practices Department. The Credit Department receives requests for financing from field sales representatives, records customer information on a preprinted form, and then enters the information into the computer system to check the creditworthiness of the customer. (Other actions may be taken if the customer is not in the database.) Once creditworthiness information is known, a printout is produced with this information plus other customer-specific information. The completed form is transferred to the Business Practices Department. The Business Practices Department modifies the standard loan covenant as needed (in response to customer request or customer risk profile). When this activity is completed, the loan is priced. This is done by keying information from the partially processed form into a personal computer spreadsheet program. The program provides a recommended interest rate for the loan. Finally, a form specifying the loan terms is attached to the transferred-in document. A copy of the loan-term form is sent to the sales representative and serves as the quote letter. The following cost and service activity data for the Business Practices Department are provided for the month of May: All materials and supplies are used at the end of the process Required: 1. How would you define the output of the Business Practices Department? 2. Using the FIFO method, prepare the following for the Business Practices Department: a. A physical flow schedule b. An equivalent units schedule c. Calculation of unit costs d. Cost of ending work in process and cost of units transferred out e. A cost reconciliationIdentify the financial regulations that led to consolidation in the domestic banking sector.(Be specific please)
- Calculate the profit of a bank by preparing income and expenditure statement. -Assume that you are an accountant in a PNZ Bank. From the following particulars, prepare the profit and loss account of bank PNZ for the year ended 31-03-2020. Particulars OMR Particulars OMR Locker rent Discount on bills discounted Director and auditor fee Establishment Expenses Interest on loan Interest on fixed deposit Interest on cash credit Sundry expenses Impairment for credit loss Transfer fee Fee and commission expenses Provision for doubtful debts Decrease in net changes in face value of sale of investment 70,000 2,100,000 50,000 600,000 2,800,000 2,980,000 2,400,000 20,000 2,000 5,000 25,000 300,000 900 Interest on current account Interest on over draft Interest on savings bank account Postage and telegram Printing and stationary Discount on bills discounted Rent and taxes Income tax expenses Depreciation Fee and commission income Profit on exchange difference arising on foreign…Calculate bank’s ratio of Tier 1 capital to risk-weighted-assets and total capital to risk-weighted-assets under the terms of Basel 1 Agreement by using the following information. On Balance Sheet Items (Assets) Amount $ Cash 4,000,000 U.S Treasury securities 30,600,000 Deposit balances due from other banks 4,000,000 Loans secured by first liens on residential property (1-4 family dwellings) 66,000,000 Loans to corporations 105,300,000 Off Balance Sheet Items Standby letters of credit backing municipal bond 20,500,000 Long term unused loan commitments to corporate customers 25,500,000 Tier 1 capital 7,500,000 Tier 2 capital 5,800,000Prepare a bank reconciliation for Piston Limited as at 30 September 2022.
- Consider the balance sheet for Inspired to Thrive (IT) Bank below: Inspired to Thrive Bank Balance Sheet as at December 31, 2021 Assets SLiabilities and Owner's Equity 275 Deposits 1,105 Debts 660 Owner's Equity Reserves 1,550.00 Loans 340.00 Securities 150.00 2,040 2,040.00 What is the leverage ratio of IT bank? Why is this ratio significant to the bank's operation?In the US history, that separated the operations of commercial banks and those of investment bank is Sarbox Dodd-Frank Bill The Glass Steagall Act the Gramm-Leach-Bliley Act17. Which of the following is not an asset of a bank?a.business depositsb.consumer loansc.deposits in other banksd.government securitiese.All of the above are bank assets. 18. Unlike the United States, many countries grant their banks the authority fora.full merchant banking, including investment banking and ownership of companies to whichthey lend.b.deposit banking.c.forming bank holding companies.d.lending to foreign companies and countries.
- DMCI Holdings, Inc. shows the following account balance in their financial records as ofDecember 31, 2019:Checking account at Manila bank, (P40, 000); Checking account at land Bank, P1, 000, 000;Payroll account National Bank, P200, 000; Foreign bank account-restricted, P1, 500, 000;Postage stamps, P44, 660; Employees post-dated checks, P60, 000; I.O.U. from president’sbrother, P150, 000; traveler’s check, P100, 000; DAUD checks, P36, 000; Petty cash fund (P32,000 in currency & expenses receipts for P168, 000), P200, 000; and Cashier’s checks, P72,000. The correct cash balance to be reported in the balance sheet of DMCI on December31,2019 is ________.a.P1, 572, 000 b. P1, 682, 000 c. P1, 440, 000 d. P1,404,000Use the information taken from BM traders to complete the following: 1.the bank reconciliation as at 31 july 2019Please consider a banking system consisting of a central bank and three commercial banks (Bank A, B and C). The balance sheets of the three commercial banks are presented below. Currency in circulation amounts to 500. Besides loans to the banking sector, the central bank only holds securities as assets. Вank A Assets Liabilities Reserves Securities Deposits Borrowings from the central bank 25 200 60 85 Loans 200 Вank B Assets Liabilities Deposits Borrowings from the central bank Reserves 50 400 Securities 300 200 Loans Borrowings from Bank A 50 500 Вank C Assets Liabilities Reserves 20 Deposits Borrowings from the central bank Borrowings from Bank A and B 160 Securities 130 150 Loans 350 100 a) Present the balance sheets of the banking system as a whole and the balance sheet of the central bank. b) Next, determine the size of the monetary base and the size of the money supply (M1).