WaMu's Option-ARM Strategy

2014 ◽  
Vol 29 (4) ◽  
pp. 557-575
Author(s):  
Robert M. Bowen ◽  
S. Jane Jollineau ◽  
Barbara A. Lougee
Keyword(s):  
Business Strategy ◽  
Deposit Insurance ◽  
Financial Statement ◽  
Financial Analyst ◽  
The Great Depression ◽  
Savings And Loan ◽  
Federal Deposit Insurance ◽  
Loan Losses

ABSTRACT At the end of 2007, Washington Mutual, Inc. (generally known as “WaMu”) was the largest savings and loan bank in the U.S., based on assets ($328 billion) and revenue ($25.5 billion). Less than nine months later, WaMu was seized by federal regulators and sold to JPMorgan Chase for $1.9 billion in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC). During the worst recession since the Great Depression, WaMu became the largest U.S. bank failure in history. This case illustrates how a financial institution's business strategy affects risk and how these characteristics are revealed in the financial statements. Students assume the role of a financial analyst examining WaMu's 2007 10-K after its release in March 2008. In particular, they evaluate the quality of WaMu's loans and the adequacy of WaMu's estimates for loan losses, one of the most important discretionary accruals for financial institutions. Students gain insights into the consequences of WaMu's business strategy to emphasize high-margin loan products by comparing WaMu to (1) the relatively conservative Wells Fargo Bank and (2) the average large FDIC bank. This case has been used successfully in graduate-level financial statement analysis courses.

Symposium on Federal Deposit Insurance for S&L Institutions

1989 ◽  
Vol 3 (4) ◽  
pp. 3-9 ◽  
Author(s):  
Dwight M Jaffee
Keyword(s):  
Great Depression ◽  
Commercial Bank ◽  
Deposit Insurance ◽  
Bush Administration ◽  
Bank Runs ◽  
Future Prospects ◽  
The Great Depression ◽  
Bank Deposits ◽  
Savings And Loan ◽  
Federal Deposit Insurance

Federal deposit insurance was introduced to eliminate the bank runs of the Great Depression: the FDIC (Federal Deposit Insurance Corporation) was created in 1933 to insure commercial bank deposits, and the FSLIC (Federal Savings and Loan Insurance Corporation) was created in 1934 to insure savings and loan association (S&L) deposits. Following a decade of neglect, the Bush administration and Congress moved early in 1989 to resolve the most serious problems yet to confront federal insurance of U.S. bank deposits. How did S&L losses expand so rapidly and unexpectedly? How should FSLIC be redesigned to avoid a reoccurance? Who is going to pay for the existing FSLIC losses? What are the future prospects for the S&L industry?

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI KUALITAS LAPORAN KEUANGAN PEMERINTAH DAERAH KOTA SEMARANG

KINERJA ◽  
2016 ◽  
Vol 20 (2) ◽  
pp. 179
Author(s):  
Lilis Setyowati ◽  
Wikan Isthika ◽  
Ririh Dian Pratiwi
Keyword(s):  
Human Resources ◽  
Internal Audit ◽  
Financial Statements ◽  
Financial Statement ◽  
Primary Data ◽  
Significant Positive Effect ◽  
Role Of It ◽  
Positive Effect

AbstractThe purpose of this study is analyze the factors influence the quality of financial statement .This study uses primary data obtained from questionnaires to accounting of SKPD Semarang. The method used in this research is multiple regression analysis. The results of this study indicate that (1) the variable role of information technology did not significantly affect the quality of financial statements, (2) the competence of human resources significant positive effect on the quality of financial statements, (3) the role of internal audit significant positive effect on the quality of financial statements.Keywords: role of IT, competence of human resources, role of internal audit, and quality of financial statement

scholarly journals Peranan Unit Pengelola Kegiatan PNPM Mandiri dalam Meningkatkan Kesejahteraan Masyarakat

PERSPEKTIF ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 46
Author(s):  
Marlina Sinaga ◽  
Usman Tarigan ◽  
Rosmala Dewi
Keyword(s):  
Quality Of Service ◽  
Case Formulation ◽  
Unit Manager ◽  
Savings And Loan ◽  
The Government

<h1>In the community there are still many publik complaints in terms of the role of govrmment, which is still not well targeted by carrying out duties and responsibilities to the community should every govermment have the ability to further improve the quality of service. As determined by the governement agenciens in the districk pangururan Samosir districk is expected to improve the quality of the government’s more responsible performance as by the government in serving the community. In this case formulation of the formulation of the problem is how the role unit manager activities (upk) pnpm indendent in improving the welfare of society therough savings and loan lending as for the purpose of this study is to find out how UPK PNPM independent office in pangururan district samosir districk. The method in this research is qualitative by using technique of observation, interview and documentation based on the result is this study followed by analyzing the data obtained, then the result is the role of independent upk pnpm in improving the welfare of the community in the districk pangururan samosir districk can be said either. Seen from the progressof members of the spp group as well as, the role of independent UPK PNPM corres panding to the soup. Role</h1><h1> </h1><br />

scholarly journals Faktor-faktor yang Memengaruhi Kualitas Laporan Keuangan Pemerintah Daerah di Kabupaten Banyuasin dengan Sistem Pengendalian Internal Pemerintah sebagai Variabel Moderasi

2019 ◽  
Vol 10 (1) ◽  
pp. 55
Author(s):  
Reny Aziatul Pebriani
Keyword(s):  
Control System ◽  
Local Government ◽  
Internal Control ◽  
Accounting Standards ◽  
Internal Audit ◽  
Financial Statement ◽  
Government Accounting ◽  
Internal Control System

<p align="center"><strong>ABSTRACT</strong></p><p><em>The aim of this study is to determine and analyse the effect of human resource competence, utilization of information technology, the implementation of government accounting standards, the role of internal audit on the quality of local government financial statement and its effect on regional work unit that is moderated by government internal control system in Banyuasin. The method used is descriptive and explanatory survey using 108 respondents. The data analysis method used in this study is multiple regression analysis and the moderating effect is tested using </em><em>Moderated Regression Analysis through </em><em>SPSS 23.</em><em> The results show that human resource competence, </em><em>utilization of information technology, the implementation of government accounting standards, the role of internal audit have simultaneous and significant effect on the quality of local government financial statement. However, when it is tested partially, the implementation of government accounting standards is found to be insignificant. Furthermore, the role of internal that is moderated by government internal control system does not have significant effect on the quality of local government financial statement. The results indicate that to improve the quality of local government financial statement, continues improvement on government internal control system is needed. the government needs to improve the quality of internal audit to improve the role of supervision, coaching, monitoring, and review of financial statements so as to be able to work professionally, objectively and independently.</em></p><p><strong><em>Keywords </em></strong><em>: Human resource competence, utilization of information technology, government internal control system, Government financial statement quality.</em></p><p align="center"><strong>ABSTRAK</strong></p><p><em>Tujuan dari penelitian ini adalah untuk mengetahui dan menganalisis besarnya pengaruh kompetensi SDM, pemanfaatan TI, penerapan SAP, peran Audit Internal secara parsial maupun bersama-sama terhadap </em><em>kualitas </em><em>LKPD </em><em>dan pengaruh</em><em>nya yang dimoderasi oleh SPIP pada </em><em>O</em><em>rganisasi </em><em>P</em><em>erangkat </em><em>D</em><em>aerah (OPD)</em><em> </em><em>Kabupaten Banyuasin. </em><em>Metode yang digunakan  adalah metode deskriptif dan survey eksplanatori dengan ukuran sampel </em><em>1</em><em>08</em><em> responden. Metode analisis data yang digunakan yaitu Regresi Linier Berganda dengan pengujian variabel moderasi menggunakan MRA (Moderated Regression Analysis) dan pengolahan data </em><em>menggunakan software SPSS 23.</em><em> Hasil penelitian ini membuktikan bahwa </em><em>kompetensi SDM, pemanfaatan TI, penerapan SAP, peran Audit Internal</em><em> secara bersama-sama berpengaruh dan signifikan terhadap </em><em>kualitas LKPD</em><em>, namun secara parsial penerapan SAP tidak berpengaruh secara signifikan</em><em>. Kemudian secara moderasi variabel peran audit internal yang dimoderasi oleh SPIP tidak berpengaruh signifikan terhadap kualitas LKPD. Kesimpulan penelitian ini berhasil menemukan bahwa untuk meningkatkan kualitas LKPD </em><em>studi kasus pada OPD di Kabupaten Banyuasin</em><em>, diperlukan upaya perbaikan dan peningkatan secara berkelanjutan terhadap SPIP dalam rangka mempertahankan dan meningkatkan kualitas LKPD, pemerintah perlu meningkatkan kualitas audit internal guna meningkatkan peran pengawasan, pembinaan, pemantauan, dan reviu laporan keuangan sehingga mampu bekerja secara profesional, obyektif dan independen.</em></p><strong><em>Kata kunci</em></strong><em> : Kompetensi SDM, Pemanfaatan TI, SPIP, Kualitas LKPD</em>

The New Triffin Dilemma

2018 ◽  
Vol 50 (4) ◽  
pp. 691-698 ◽  
Author(s):  
Ann E. Davis
Keyword(s):  
Multinational Corporations ◽  
Deposit Insurance ◽  
Jel Classification ◽  
Size Of Government ◽  
Treasury Bonds ◽  
Shadow Banks ◽  
Order Of Magnitude ◽  
Triffin Dilemma ◽  
Federal Deposit Insurance

According to Pozsar, there is a new kind of “Triffin Dilemma.” Due to rising inequality, a shrinking numbers of large banks, and a ceiling on Federal Deposit Insurance Corporation (FDIC) insured deposits, there is a shortage of “safe assets.” The private supply of safe assets has occurred through the system of shadow banks, and is based on repos, or Treasury Bonds. But the supply of US Treasury bonds is limited by the ceiling on public debt, and is constrained by neoliberal theories of limits to the size of government. As a result, there is a presumed shortage of safe assets, just when the levels of inequality have increased the order of magnitude of assets under management which are in need of protection. There are also large accumulations of cash pools by large multinational corporations, often held overseas to evade taxes. The private provision of safe assets tends to reduce liquidity and increase costs of information, potentially leading to financial instability. Possible resolutions of this issue include (1) progressive taxes to reduce the size of the cash pools, (2) an increase in the ceiling for insured deposits, and (3) increasing support by the Fed for the role of “market maker of last resort.” This paper concludes with the implications of each alternative. JEL Classification: B5, E44, G01, P1

scholarly journals The Role of Financial Reporting Quality in Accessing to Financial Debt: Evidence From Italy

2018 ◽  
Vol 8 (3) ◽  
pp. 278
Author(s):  
Andrea Rey ◽  
Giovanni Landi
Keyword(s):  
Financial Reporting ◽  
Financial Institution ◽  
Reporting Quality ◽  
Positive Association ◽  
Financial Statement ◽  
Financial Reporting Quality ◽  
Accounting Quality ◽  
Accrual Quality

This paper aims to assess whether financial reporting quality affect the access of Italian Non-SME firms to financial debt. In order to measure the financial reporting quality, we assume as proxy the accrual quality. We carried out a regression analysis, using financial statement data of firms sampled. The results reveal a positive association between financial reporting quality and the access to bank and financial institution debt. In addition, our findings also show no association between financial debt maturity and the accounting quality of firms.

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