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Global Financial Crisis

14 Sept. 2010 2012

Adriana Vamvakas

Monash University

[email protected] monash. edu

Berty Vidanapathirana

Monash University

Caulfield East 3145

Dear Mr. Vidanapathirana,

Enclosed is known as a copy from the " Significant Assignment” talking about the importance economic intermediaries have got in an economic system. This record is a brief summary of my own findings collected from ebooks, magazine content, Monash on-line database, messages, newspaper articles and websites. It will show both colleagues and younger generations just how financial intermediaries aid the flow of money in the economical world. In this report I will be looking carefully at the functions of banking institutions and how they've been affected by and dealt with the Global Financial Crisis. I was able to total this survey on schedule and meet all my proposed aims within the given word limit of approximately 2500 words. From this report you will see background information relating to the roles of banks and why they are vital in our day-to-day lives. The record will then stick to on to in brief explain the financial concern of 08, the Global Financial Crisis, and how financial institutions from equally Australia and international banking institutions dealt with crucial repercussions. Attached at the end are usually some charts and furniture, to aid my own findings. Through this research, I discovered that although the economic crisis was global, it was found through the Aussie governments procedures that our economic climate and each of our banks were able to stay afloat, enduring minor setbacks whilst, unfortunately, many overseas banks, particularly in the United States were not so privileged and ended in many losses. Should you have any kind of questions and/ or comments regarding my report or research, perform feel free to get in touch. Thank you for your guidance over the semester and i also do aspire to learn far more from you later on.

Sincerely,

Adriana Vamvakas

EXECUTIVE SYNOPSIS

THE IMPORTANCE OF ECONOMIC INTERMEDIARIES

The purpose of this kind of report is to discuss the value of financial intermediaries, namely banks, and to apply our knowledge of these institutions to a real-life financial market issue such as the Global Financial Crisis (GFC).

This report can look at the main roles of banks and focus on the way they are vital in the movement of cash. It will in that case continue to look at how the roles of banking companies can be in danger when economical market problems arise. When it comes to this statement I will be specifically focusing on the GFC, and the effects of this phenomenon about both Aussie and foreign banking institutions.

In writing this kind of report, the sources of details comprised of books, Monash on-line databases, journal articles, speeches and toasts, newspaper content articles and websites all of which connect with the importance of financial intermediaries and just how they were impacted by the issue of the GFC. The primary findings with this report include:

* the roles of banks in aiding the flow of funds

* specifically looking at the indirect financing part of Official Deposit currently taking Institutions 5. brief review of the GFC and how this impacted on banks 2. the consequences in Australia, with specific concentrate on the Big Four * the repercussions in the United States, a relative view

Overall, we will have how Quotes ultimately has quite effectively dealt with the repercussions in the GFC and exactly how our economy continues to prosper.

DESK OF ITEMS

An Introduction: The role of economic Intermediaries …………………………………………………………4-5

Background: Summary of the Global Economic Crisis……….. …………………………………………………. 5-6

Affects on Financial Intermediaries

Global Implications…………... …....... ……………….. ………………………………………….... 6 Australia's Banks…... ……………………………………………………………………….. ………. 6-7

United States Banks……………………………………………………………………….. ……….. 7

Lessons From The GFC For Aussie Banks ………………………………………………………………………8

Bottom line ………………………………………………………………………………………………………………. ………... 9

Bibliography...

Bibliography: GLOBAL IMPLICATIONS

As we understand, subprime home loans are high-risk mortgage loans that are made to debtors with low credit scores and other high risk characteristics (”Fidelity, 2010)

Battellino stated in his talk that if we were to take anything away from the GFC, and nothing else, they should be those two key lessons (Battellino, 2009):

1

Better-banking. org (2009)

Edirisuriya, L. (2012). Funds and Capital Markets. NSW: McGraw-Hill Sydney Pty Limited

Fidelity. com. au (2010). Australia's big four financial institutions post the GFC -- Fidelity. [online] Available at: http://www.fidelity.com.au/insights-centre/investment-articles/australiae28099s-big-four-banks-post-the-gfc/ [Accessed: 2 Sep 2012].

Financialintermediaries. org (2012). Financial Intermediaries. [online] Offered by: http://financialintermediaries.org/ [Accessed: several Sep 2012].

G. C. Lim, C. C. (2010, March). Report on the Australian Economy 2009-2010: On the road to restoration. The Aussie Economics Assessment, 43(1), 1-11.

Oliver, S i9000. (2011, September). Quick Business Wins. Business Review Regular, 33, p. 18.

Onlineopinion. com. au (2012). What is the GFC doing to our banks? - On Line View - 27/7/2009. [online] Sold at: http://www.onlineopinion.com.au/view.asp?article=9219 [Accessed: one particular Sep 2012].

Martin Statement, House of Representatives Position Committee about Finance and Public Government (1991), A Pocket Filled with Change, Nov, AGPS

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