Direct Payments (Ofer Abarbanel online library)

The Direct Payments scheme is a UK Government initiative in the field of Social Services that gives users money directly to pay for their own care, rather than the traditional route of a Local Government Authority providing care for them. The Cabinet Office Strategy Unit calls direct payments “the most successful public policy in the area of social care”.[1] Continue reading “Direct Payments (Ofer Abarbanel online library)”

Discharge by purchase (Ofer Abarbanel online library)

Discharge by purchase, colloquially called buying oneself out of service, is the obtaining of a military discharge by payment. The purchase price is in effect a fine for leaving military service earlier than the date contracted for when enlisting. “Discharge by purchase” pertains to voluntary enlistment; “exemption by purchase” is a similar privilege pertaining to conscription. In the United States military, discharge by purchase was introduced in 1890 for the Army, 1902 for the Marine Corps and 1906 for the Navy. Continue reading “Discharge by purchase (Ofer Abarbanel online library)”

Equalization payments (Ofer Abarbanel online library)

Equalization payments are cash payments made in some federal systems of government from the federal government to subnational governments with the objective of offsetting differences in available revenue or in the cost of providing services. Many federations use fiscal equalisation to reduce the inequalities in the fiscal capacities of sub-national governments arising from the differences in their geography, demography, natural endowments and economies. The level of equalisation sought can vary, however. Continue reading “Equalization payments (Ofer Abarbanel online library)”

Budapest Stock Exchange (Ofer Abarbanel online library)

Budapest Stock Exchange (BSE) (Hungarian: Budapesti Értéktőzsde (BÉT)) is the 2nd largest stock exchange in Central and Eastern Europe by market capitalization and liquidity.[4] It is located at 7 Liberty Square, Budapest, Hungary, in the central business district of the city, known as District V.[5] Previously, from 1864, during the Austro-Hungarian Empire it was located in the Budapest Stock Exchange Palace building, until a large trading floor was necessary.[6] The exchange is controlled by listed issuers, by Hungarian private investors and by the central bank.[7] The BSE is member of the World Federation of Exchanges and the Federation of European Securities Exchanges.[8] Continue reading “Budapest Stock Exchange (Ofer Abarbanel online library)”

Clearing House Electronic Subregister System (Ofer Abarbanel online library)

The Australian Clearing House Electronic Subregister System (commonly abbreviated to CHESS) is an electronic book entry register of holdings of approved securities that facilitates the transfer and settlement of share market transactions between CHESS participants (including stockbrokers on behalf of their clients, and large institutional investors on their own behalf) as well as speed up the registration of the transfer of securities. CHESS was developed by the Australian Securities Exchange (ASX) and is managed by the ASX Settlement and Transfer Corporation (ASTC), a wholly owned subsidiary of ASX.[1] Continue reading “Clearing House Electronic Subregister System (Ofer Abarbanel online library)”

Depository Trust & Clearing Corporation (Ofer Abarbanel online library)

The Depository Trust & Clearing Corporation (DTCC) is an American post-trade financial services company providing clearing and settlement services to the financial markets. It performs the exchange of securities on behalf of buyers and sellers and functions as a central securities depository by providing central custody of securities. Continue reading “Depository Trust & Clearing Corporation (Ofer Abarbanel online library)”