1,235,257 research outputs found
Banking Fees in Australia
The Reserve Bank has conducted a survey on bank fees each year since 1997. In 2009 growth in fee income increased slightly from recent years though it was again slower than growth in banks’ balance sheets. Growth in fee income was higher for businesses than for households. Banks reacted to the financial crisis by competing more aggressively for deposit funding which resulted in total fee income from deposit accounts falling, and repricing loan products which contributed to an increase in fee income from lending.bank; fees; Australia; exception; deposits; loans
Banking Fees in Australia
The Reserve Bank has conducted a survey on bank fees each year since 1997. The results of the latest survey show that banks’ aggregate fee income was unchanged in 2010. Fee income from households declined as exception fee income and ATM revenue fell sharply, while fee income from businesses grew.banking, fees, fee income, exception, ATM, survey
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Reserve Component Personnel Issues: Questions and Answers
[Excerpt] The term “Reserve Component” is used to refer collectively to the seven individual reserve components of the armed forces: the Army National Guard of the United States, the Army Reserve, the Navy Reserve, the Marine Corps Reserve, the Air National Guard of the United States, the Air Force Reserve, and the Coast Guard Reserve. The purpose of these seven reserve components, as codified in law at 10 U.S.C. 10102, is to “provide trained units and qualified persons available for active duty in the armed forces, in time of war or national emergency, and at such other times as the national security may require, to fill the needs of the armed forces whenever more units and persons are needed than are in the regular components.”
During the Cold War era, the reserve components were a manpower pool that was rarely tapped. For example, from 1945 to 1989, reservists were involuntarily activated by the federal government only four times, an average of less than once per decade. Since the end of the Cold War, however, the nation has relied more heavily on the reserve components. Since 1990, reservists have been involuntarily activated by the federal government six times, an average of once every three years, including two large-scale mobilizations: for the Persian Gulf War (1990-91) and in the aftermath of the September 11 terrorist attacks (2001-present) . This increasing use of the reserves has led to greater congressional interest in the various issues, such as funding, equipment, and personnel policy, that bear on the vitality of the reserve components. This report is designed to provide an overview of key reserve component personnel issues.
This report provides insight to reserve component personnel issues through a series of questions and answers: how many people are in different categories of the reserve component (question 3); how reserve component personnel are organized (questions 2 and 4); how reserve component personnel have been and may be utilized (questions 1, 5, 6, 7, 9, and 11); how reserve component personnel are compensated (questions 8 and 10); the type of legal protections that exist for reserve component personnel (question 12); recent changes in reserve component pay and benefits made by Congress (question 13); and reserve component personnel issues that might be of particular interest in the second session of the 110th Congress (question 14).
This report will be updated as needed
Auctions with heterogeneous entry costs
We study the impact of public and secret reserve prices in auctions where buyers have
independent private values and heterogeneous entry costs. We find that in a standard auction the
optimal (i.e., revenue maximizing) public reserve price is typically above the seller's value.
Moreover, an appropriate entry fee together with a public reserve price equal to the seller's
value generates greater revenue. Secret reserve prices, however, differ across auction formats.
In a second-price sealed-bid auction the secret reserve price is above the optimal public reserve
price; hence there is less entry, a smaller probability of sale, and both the seller revenue and the
bidders' utility are less than with an optimal public reserve price. In contrast, in a first-price
sealed-bid auction the secret reserve is equal to the seller's value, and the bidders' expected
utility (seller revenue) is greater (less) than with an optimal public reserve price
Vickrey Auctions with Reserve Pricing
We generalize the Vickrey auction to allow for reserve pricing in a multiple item auction with interdependent values. By withholding quantity in some circumstances, the seller can improve revenues or mitigate collusion. In the Vickrey auction with reserve pricing, the seller determines the quantity to be made available as a function of the bidders' private information, and then efficiently allocates this quantity among the bidders. Truthful bidding is a dominant strategy with private values and an ex post equilibrium with interdependent values. If the auction is followed by resale, then truthful bidding remains an equilibrium in the auction-plus-resale game. In settings where resale exhausts all the gains from trade among the bidders, the Vickrey auction with reserve pricing maximizes seller revenues.Auctions, Vickrey Auctions, Multiple Item Auctions, Resale
For the record
Recent discussion papers, news releases and publications from the Reserve Bank of New Zealand
Auctions with imperfect commitment when the reserve may signal the auctioneer's type
If bidders are uncertain whether the auctioneer sticks to the announced reserve, some bidders respond by not bidding, speculating that the auctioneer may revoke the reserve. However, the reserve inadvertently signals the auctioneer's type, which drives a unique separating and a multitude of pooling equilibria. If one eliminates belief systems that violate the "intuitive criterion", one obtains a unique equilibrium reserve price equal to the seller's own valuation. Paradoxically, even if bidders initially believe that the auctioneer is bound by his reserve almost with certainty, commitment has no value
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