PART ONE (1):
Please respond to the following:
• Go to the Bank for International Settlements Website to read the results summarized in the article titled “Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in April 2010 – Preliminary Global Results – Turnover”, dated September, 2010, located at http://www.bis.org/publ/rpfx10.htm.
• Speculate on one (1) specific area in which the next Triennial report may show a significant change. Explain how you arrived at your conclusion. Given the global financial system referenced in this article, what obligation do commercial banks with foreign exchange exposure have in building consumer confidence and rate how the banks are doing in this regard. Support your responses with evidence or an example. Should all commercial banks be treated the same when it comes to the risk they pose to the U. S. and global financial systems?
*** 150-300 WORDS ***
PART TWO (2):
Respond to a Classmate below:
After reviewing “Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in April 2010 – Preliminary Global Results – Turnover” I think the one that would show a significate change would be the increase of the United States dollar market share because of the economy has been performing and consisting growing. Over the past five (5) years our economy has been stable and shown continuous growth, maintaining a 3% growth annually. Thus driving the value of the dollar along with some global events not taken into account yet like the Brexit and so on.
Given the global financial system referenced in this article, commercial banks with foreign exchange exposure have an obligation in building consumer confidence. That obligation is for commercial banks to keep their consumers informed and be transparent. For example Commercial banks increase consumer confidence by being transparent as the U.S. Bank National Association because they started releasing their annual reports and financials to be open with the public after the financial crisis.
I believe all commercial banks should be handled the same when it comes to the chance they profess to the U.S and global financial systems. A bank failure causes a domino effect and impacts everyone. The Dodd-Frank that enacted in 2010 is a comprehensive reform that requires financial regulators to ensure we do not have another financial crisis like The United States experienced in 2008.
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