My knowledge of standard accounting codes, classifications, and terminology stems from my recent completion of Principles of Accounting course, my detail with the Office of Chief Financial Officer (OCFO), and my serving as back up to the Corporate Technician in the Office of Corporate Credit Unions. ... Source documents such as bank statements (Mellon Bank), checks received from other credit unions are the beginning component in processing in an accounting system. Input devices such as journal entries whether electronic or hard copy capture the information provided by checks from credit union...

• Word Count: 956
• Approx Pages: 4
• Grade Level: Undergraduate

Interest rates were low, credit quality was good, and inflation was low. ... But good times can't continue because interest rate hikes cause reduced lending activity, damaged credit quality, and reduced values of bond portfolios. ... Bank of America and Nation's Bank also agreed to merge shortly afterwards which became the largest bank in the United States. ... In fact, Charlotte, NC is practically owned by Bank of America and First Union. 2. ... Third, falling rates lower the cost of credit, which stimulates loan demand and reduces delinquency rates. ...

• Word Count: 714
• Approx Pages: 3
• Grade Level: High School

Availability of funds to homebuyers no longer depends on local credit conditions and is no longer subject to local ban's potential monopoly powers; with mortgages passs-throughs trading in national markets, mortgages can flow worldwide to wherever demand is greatest. Banks, investment companies, insurance companies, and credit unions are known as financial intermediaries. Bank raises funds by borrowing (taking deposits) and lending that money to other borrowers together. The spread between interest rates paid to depositors and the rates charged to borrowers is the source of the banks ...

• Word Count: 317
• Approx Pages: 1
• Grade Level: Undergraduate