Bank tax

bank tax, or a bank levy, is a tax on banks which was discussed in the context of the financial crisis of 2007–08. On 16 April 2010, the International Monetary Fund (IMF) put forward three possible options to deal with the crisis., which were presented in response to an earlier request of the G20 leaders, at the September 2009 G20 Pittsburgh summit, for an investigative report on options to deal with the crisis.[1] The IMF opted in favour of the “financial stability contribution” (FSC) option, which many media have referred to as a “bank tax”. Both before and after that IMF report, there was considerable debate among national leaders as to whether such a “bank tax” should be global or semi-global, or whether it should be applied only in certain nations. Continue reading “Bank tax”

Bank account

bank account is a financial account maintained by a bank for a customer. A bank account can be a deposit account, a credit card account, a current account, or any other type of account offered by a financial institution, and represents the funds that a customer has entrusted to the financial institution and from which the customer can make withdrawals. Alternatively, accounts may be loan accounts in which case the customer owes money to the financial institution. Continue reading “Bank account”

Bank examiner

bank examiner is a financial professional who has the task of making sure that banks and savings and loan associations are operating legally and safely, in accordance with the bank regulations imposed on these institutions by the chartering level of government. In the United States, they may conduct supervision on behalf of a U.S. government agency, the Federal Reserve System, a state banking authority, or for the financial institutions themselves as internal auditors. The main duties of a bank examiner are to ensure that a bank’s operations are legal and can provide financial stability.[1] A bank examiner will also review financial statements, evaluate the level of risk associated with loans, and assess the management of a bank.[2] Continue reading “Bank examiner”

Bank transaction tax

bank transaction tax is a tax levied on debit (and/or credit) entries on bank accounts. In 1989, at the Buenos Aires meetings of the International Institute of Public Finance, University of Wisconsin–Madison Professor of Economics Edgar L. Feige proposed extending the tax reform ideas of John Maynard Keynes,[1] James Tobin[2] and Lawrence Summers,[3] to their logical conclusion, namely to tax all transactions.[4] Feige’s Automated Payment Transaction tax (APT tax) proposed taxing the broadest possible tax base at the lowest possible tax rate.[5][6] Continue reading “Bank transaction tax”