abu yahya's definitions
(ECONOMICS) Any of the 12 constituent district banks of the Federal Reserve System. Federal Reserve Banks may be referred to either by the number of the district they serve (e.g., 12th FRB) or by the city in which they are headquartered (e.g., FRB of San Francisco).
Representatives of the FRB's are eligible to serve on the Federal Open Market Committee (FOMC), the committee that actually administers monetary policy through sales or purchases of treasury securities.
The Federal Reserve Bank of New York (2nd FRB) is by far the most important of the 12 district banks. Each bank holding company is likely to have a subsidiary in NYC, and the 2nd District is uniquely guaranteed a seat on the FOMC. The other 11 rotate, with 4 taking a year-long turn at the FOMC at any given time.
Representatives of the FRB's are eligible to serve on the Federal Open Market Committee (FOMC), the committee that actually administers monetary policy through sales or purchases of treasury securities.
The Federal Reserve Bank of New York (2nd FRB) is by far the most important of the 12 district banks. Each bank holding company is likely to have a subsidiary in NYC, and the 2nd District is uniquely guaranteed a seat on the FOMC. The other 11 rotate, with 4 taking a year-long turn at the FOMC at any given time.
The Federal Reserve Bank of New York has historically supplied the secretaries of the Treasury or else the chairmen of the Federal Reserve Board.
by Abu Yahya May 5, 2010
Get the Federal Reserve Bank mug.(FINANCE) a situation in which an investor stands to gain if a particular investment instrument (stocks, bonds, gold, real estate) goes up in value. One "takes a long position" with respect to a particular item.
There are several ways of taking a long position; an obvious way to go long is to actually own the thing itself. Supposing you are taking a long position on Intel common stock (NASDAQ:INTC), here are some other ways:
* Buy a call option for INTC, especially with a strike price higher than the current spot price.
* Write a put option for INTC, committing yourself to buy more INTC stock if the price goes down over the near term
* Buy a futures contract for INTC at spot (or more).
CAVEAT LECTOR: there are many _potential_ definitions of long position; I have given the broadest one available.
There are several ways of taking a long position; an obvious way to go long is to actually own the thing itself. Supposing you are taking a long position on Intel common stock (NASDAQ:INTC), here are some other ways:
* Buy a call option for INTC, especially with a strike price higher than the current spot price.
* Write a put option for INTC, committing yourself to buy more INTC stock if the price goes down over the near term
* Buy a futures contract for INTC at spot (or more).
CAVEAT LECTOR: there are many _potential_ definitions of long position; I have given the broadest one available.
MICHAEL: I want to flatten my long position on T-bills.
ANNA: I would recommend buying a covered interest swap with another major currency, like yen.
ANNA: I would recommend buying a covered interest swap with another major currency, like yen.
by Abu Yahya April 10, 2010
Get the long position mug.(FINANCE) the amount of bank reserves that a bank must keep in storage to meet unexpected liabilities.
Banks are not allowed to lend out 100% of the money they receive as deposits; if they did, then depositors would be unable to take money out of the bank. On the other hand, the bank has to lend most of the money out, since it needs the income earned from interest on loans. Throughout the history of the Usonian banking system, the US states or the federal government have had rules about interest rates, reserves, and financial accounting used by banks.
Reserve requirements are necessary to mitigate the risk of bank runs; this was thought to have disappeared thanks to deposit insurance, but Washington Mutual experienced a bank run in 2008 that forced it into receivership.
Banks are not allowed to lend out 100% of the money they receive as deposits; if they did, then depositors would be unable to take money out of the bank. On the other hand, the bank has to lend most of the money out, since it needs the income earned from interest on loans. Throughout the history of the Usonian banking system, the US states or the federal government have had rules about interest rates, reserves, and financial accounting used by banks.
Reserve requirements are necessary to mitigate the risk of bank runs; this was thought to have disappeared thanks to deposit insurance, but Washington Mutual experienced a bank run in 2008 that forced it into receivership.
In the USA, reserves have been set by law for centuries; as a percentage of liabilities, this percentage has declined over the centuries to its current level of 3-10% (as of 1992). In the Eurozone, this rate is 2%; in Japan, it is about 1.5%; and in Commonwealth countries like the UK & Canada, it is voluntary--there are no reserve requirements.
by Abu Yahya September 4, 2010
Get the reserve requirements mug.(FINANCE) real estate mortgage backed securities; usually used to refer to the derivatives created by Fannie Mae and Freddie Mac that were used to create collateralized debt obligations CDO's.
Most economists seem to agree that the 2008 crisis was caused by the collapse of the real estate market, which was mainly caused by the toxic relationship between RMBS's and the CDO's created mostly with them.
Most economists seem to agree that the 2008 crisis was caused by the collapse of the real estate market, which was mainly caused by the toxic relationship between RMBS's and the CDO's created mostly with them.
For almost eighty years the RMBS business helped people buy homes, with few serious problems. Then Congress abolished Glass-Steagall, the banks merged and created CDO's, and total disaster followed.
And now our neighborhoods look awful as well.
And now our neighborhoods look awful as well.
by Abu Yahya April 5, 2010
Get the RMBS mug.the gap between revenues and expenditures for a government (over a given period of time); often referred to as an internal deficit or public deficit.
The public deficit accumulates over each time period (usually a year) into what is known as the public debt.
According to Keynesian and Neo-Keynesian economic theory, fiscal deficits are usually the most effective tool for stimulating economic activity; the actual choice of how the money is spent is less important.
The public deficit accumulates over each time period (usually a year) into what is known as the public debt.
According to Keynesian and Neo-Keynesian economic theory, fiscal deficits are usually the most effective tool for stimulating economic activity; the actual choice of how the money is spent is less important.
In the USA, most states are not allowed to run fiscal deficits. In other federal republics, such as India and Argentina, they are allowed and frequently account for much of those countries' internal deficits.
by Abu Yahya February 14, 2009
Get the fiscal deficit mug.(VERB) to ignore the fact that a particular action was a crime, and focus instead on possible problems it may cause for the perpetrator. Named for Charles Maurice de Talleyrand-Périgord (1754-1838), who famously remarked of Napoleon's murder of the Duc d'Enghein, "It was worse than a crime... It was a blunder."
Sometimes this is misspelled "tallyranding." It's not certain that Talleyrand ever said it; it was probably attributed by his many enemies.
WHY IT'S BAD
In March 1804, when Napoleon Bonaparte was consul of the French Republic, he became aware of the fact that a leader of the royalist opposition was hiding out across the border of France. Napoleon had him kidnapped, brought back to Strasbourg, "tried," and put to death. The unfortunate young man was never accused of doing anything illegal; he had not violated the laws of the French Republic because he was not in France, and when he had been, he was serving the previous government.
Whoever actually said "...worse than a crime...a blunder" was ignoring the fact that it was a crime to murder an innocent person, and focusing instead on the fact that it was DUMB. In some cases, such as this one, it's a reasonable thing to do; but if it becomes a habit then moral judgment is deliberately suspended.
It's the asshole's substitute for moral fiber.
Sometimes this is misspelled "tallyranding." It's not certain that Talleyrand ever said it; it was probably attributed by his many enemies.
WHY IT'S BAD
In March 1804, when Napoleon Bonaparte was consul of the French Republic, he became aware of the fact that a leader of the royalist opposition was hiding out across the border of France. Napoleon had him kidnapped, brought back to Strasbourg, "tried," and put to death. The unfortunate young man was never accused of doing anything illegal; he had not violated the laws of the French Republic because he was not in France, and when he had been, he was serving the previous government.
Whoever actually said "...worse than a crime...a blunder" was ignoring the fact that it was a crime to murder an innocent person, and focusing instead on the fact that it was DUMB. In some cases, such as this one, it's a reasonable thing to do; but if it becomes a habit then moral judgment is deliberately suspended.
It's the asshole's substitute for moral fiber.
There is altogether too much Talleyranding going on. This wasn’t a blunder; it was a crime.
(Taken from the comments of Jim Henley's blog, *Unqualified Offerings*, "I Already Shot You"--May 31, 2010)
(Taken from the comments of Jim Henley's blog, *Unqualified Offerings*, "I Already Shot You"--May 31, 2010)
by Abu Yahya June 3, 2010
Get the Talleyranding mug.Breathless and/or mendacious "Globalization" pieces from neoliberal commentators. A lot of pop economics insists that increased trade in services, intellectual property, and equities will solve every significant problem.
by Abu Yahya September 28, 2008
Get the globollocks mug.