Money laundering is the process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.
The Dow Jones Industrial Average (DJIA), or simply the Dow, is a stock market index that indicates the value of 30 large, publicly owned companies based in the United States, and how they have traded in the stock market during various periods of time. The value of the Dow is not a weighted arithmetic mean and does not represent its component companies' market capitalization, but rather the sum of the price of one share of stock for each component company. The sum is corrected by a factor which changes whenever one of the component stocks has a stock split or stock dividend, so as to generate a consistent value for the index.
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions. The FDIC was created by the 1933 Banking Act, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2011, the FDIC insures deposits in member banks up to US$250,000 per ownership category.
J.P. Morgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City. JPMorgan Chase is the largest bank in the United States, and is ranked by S&P Global as the sixth largest bank in the world by total assets as of 2018, to the amount of $2.534 trillion. It is the world's most valuable bank by market capitalization.
A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment. A hedge can be constructed from many types of financial instruments, including stocks, exchange-traded funds, insurance, forward contracts, swaps, options, gambles, many types of over-the-counter and derivative products, and futures contracts.
The Bank of America Corporation is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto. Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. It is the second largest banking institution in the United States, after JP Morgan Chase. As a part of the Big Four, it services approximately 10.73% of all American bank deposits, in direct competition with Citigroup, Wells Fargo, and JPMorgan Chase. Its primary financial services revolve around commercial banking, wealth management, and investment banking.
The rupiah (Rp) is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. The name "Rupiah" is derived from the Sanskrit word for silver, rupyakam (रूप्यकम्). Informally, Indonesians also use the word "perak" in referring to rupiah. The rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete.
Citizens Financial Group, Inc. is an American bank headquartered in Providence, Rhode Island, which operates in the states of Connecticut, Delaware, Maine, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont.
Allied Irish Banks, p.l.c. is one of the so-called Big Four commercial banks in Ireland. AIB offers a full range of personal and corporate banking services. AIB Capital Markets is the division of the company that offers international banking and treasury operations. The bank also offers a range of general insurance products such as home, travel, and health insurance. It offers life assurance and pensions through its tied agency with Irish Life Assurance plc.
Bank of America Home Loans is the mortgage unit of Bank of America. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion. In 2006, Countrywide financed 20% of all mortgages in the United States, at a value of about 3.5% of United States GDP, a proportion greater than any other single mortgage lender.
Chicago and its suburbs, which together comprise the Chicago Metropolitan Area, is home to 29 Fortune 500 companies and is a transportation and distribution center. Manufacturing, printing, publishing, insurance, transportation, financial trading & services, and food processing also play major roles in the city's economy. The total economic output of Chicago in GMP totaled US$679B in 2017 making Chicago equivalent to the 21st largest economy in the world just surpassing the total economic output of Switzerland.
Deposit insurance is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability.
The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued. Today, what was once NBD is owned by JPMorgan Chase & Co.
Ally Financial is a bank holding company organized in Delaware and headquartered in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgages, credit cards, and an electronic trading platform to trade financial assets.
The Public Provident Fund is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968. The aim of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. The scheme is fully guaranteed by the Central Government. Balance in PPF account is not subject to attachment under any order or decree of court. However, Income Tax & other Government authorities can attach the account for recovering tax dues.
Firstar Corporation was a Milwaukee, Wisconsin-based regional bank holding company that later became U.S. Bancorp, a nationwide bank corporation in the United States. In 2001, Firstar acquired U.S. Bancorp and assumed its name, moving its headquarters to Minneapolis.
Discover Financial Services, Inc. is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulse networks, and owns Diners Club International. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois.
The Ottoman public debt was a term which dated back to 24 August 1855, when the Ottoman Empire first entered into loan contracts with its European creditors shortly after the beginning of the Crimean War.
First Bank System was a Minneapolis, Minnesota-based regional bank holding company that later became U.S. Bancorp, a nationwide bank corporation in the United States. In 1997, First Bank System acquired U.S. Bancorp and assumed its name, while maintaining its officers and its headquarters in Minneapolis.
The Arbuthnot Bank crash led to the fall of Arbuthnot & Co, a premier British-owned financial institution in Madras Presidency, British India in October 1906. The incident is considered to be one of the key events which influenced the Indian independence movement in Tamil Nadu.
