By Linda Eagle
On July 11th, 2008, IndyMac Bancorp, one of the nation's largest home lenders, failed, becoming the fifth bank to collapse in 2008 and the third largest bank failure in American history. Following the collapse of IndyMac, American consumers have been in a state of panic. Now, banks too are in a state of anxiety as they find themselves with the challenge of reassuring customers that their institution will not be the next IndyMac. The best solution for both of these problems is proper training of bank personnel.IndyMac was one of many financial institutions struggling due to the effects of the ongoing subprime mortgage crisis. In the months before its failure, the bank incurred significant losses due to falling housing prices and rising foreclosures. On June 26, 2008, several letters questioning the health of IndyMac Bancorp by Democratic Senator Charles Schumer, a member of the Senate Banking Committee and chairman of Congress' Joint Economic Committee, were publicly released prompting a run on the bank whereby depositors withdrew more than $1.3 billion. Fearing that the Bank could no longer meet depositor needs, IndyMac Bancorp's assets were seized by the Office of Thrift Supervision (OTS) and placed under the management of the Federal Deposit Insurance Corporation (FDIC). The Bank reopened as IndyMac Federal Bank, FSB (Federal Savings Bank) and will resume operations until the federal government can sell its assets.
While the collapse of IndyMac Bancorp has little direct effect on the overall health of the banking system (most banks are well-capitalized and in no danger of failing), it nonetheless contributed to escalating concerns over the stability of the nation's financial industry. Despite the FDIC's best efforts to assure the public of the health of the banking system, market speculation has become rampant following the collapse. Shares of major U.S. banks have plummeted, and investors have begun to fear that other institutions, including mortgage giants Fannie Mae and Freddie Mac, may fail as well. More importantly, bank customers, in response to observing Wall Street's reaction, are beginning to fear that their banks may fail.
Banking is based on trust, therefore doubt in the minds of customers does not bode well for the nation's financial services industry. Customers have a natural desire to protect their money. Even with the existence of the FDIC and its guarantee on funds, when customers doubt the safety and soundness of their banks, they withdraw their deposits thus depleting the banks of the capital needed to operate.
Because of the threat fear poses, any confidence shaken by recent events and the current financial climate must be restored in order to protect banks and their customers. This can only be accomplished through the individual efforts of banks to reassure customers of the safety and soundness of their respective institutions. Therefore, each bank's employees must be properly trained with respect to performing the following:
• Addressing customer fears and concerns. Employees must be able to deal with angry and upset customers, display calming characteristics, listen and understand customer needs, handle difficult situations, and answer tough questions openly and honestly.
• Informing customers of their FDIC coverage. Employees should be able to educate customers about their FDIC coverage including the amount for which accounts are insured, what types of deposits are insured, and the account ownership categories on which insurance is based.
• Assuring customers of the safety and soundness of the Bank. Employees should be able to understand the history of the banking industry, the past crises it has endured, changes that have been made to ensure its stability, internal auditing procedures, and the external regulatory bodies that exist.
Training is imperative. Banks cannot reassure their customers until their employees are properly trained to perform this task. Fortunately, banks may find reassurance themselves knowing that The Edcomm Group Banker's Academy now offers a course, Reassuring Our Customers, which is designed to meet all of the needs of a bank attempting to reassure its customers while restoring confidence in the safety and soundness of the institution.
Dr. Linda Eagle is Founder & President of The Edcomm Group Banker's Academy-a 22-year-old education and consulting firm dedicated to serving Banks, Credit Unions, Money Services Businesses (MSBs) and all areas of the Global Financial Community with thousands of generic and customized training programs in areas such as BSA/AML, Regulatory Compliance, Teller Training, Systems Training, Sales and Service Training, and many more.
The Edcomm Banker's Academy is headquartered in New York, NY. For more information, email linda.eagle@edcomm.com or call +1.212.631.9400.
Price Oil Decline, Gold Becoming Sparkle
Price Oil sink below under 80 dollar per this week barel and various commodity beaten by the fall of global stocks market, but gold enjoy advantage effect of its status as peaceful bet of harga economic moment is harga flaring up
" Prospect deteriorating to growth of harga world nowadays flange at harga keen correction at harga price various commodity," write all harga Deutsche Bank analyst in report research into them to client
But that way, valuable metal represent place shining, because all harga investor look for protection to their cash from fall downing stocks market
Price anjlok crude oil to terendah champion in last one year Friday, on course 75 dollar in harga London, in the middle of moulting of global stock market which trigger dread by request of of energi, word all harga merchant
International Body Energi IEA also warn that recession threat and finansial crisis that goes on in this time will erod request of harga oil and cause the resignment of invesment in harga various new oil field
Price Brent North sea crude oil decline till to position 75 dollar per barel, such as those which have happened at harga 12 October 2007, when all harga merchant give respon to the restating scale off world stocks market .
Oil sweet light price becoming New York market directive fall to terendah position in one year this in harga level 78,61 dollar per barel. In this just week, oil price have anjlok equal to 14 dollar
peaceful protection
Gold price continue to writhe, showing its strength as peaceful haven from various distortion
" In atmosphere like this, fundamental in the form of big supply and demand no matter," Peter Fertig word, analyst from Dresdner Kleinwort
" Many investor look into gold as single lifeboat in harga tempestuous sea
In harga London market, gold price leap to become 900,50 dollar per ounce, though at harga closing of harga Friday at harga previous week of harga its price still 828 dollar
Valuable metal of harga that kekuningan-kuningan chromatic, which is harga usually used to make jewel, exploited in electronics and dentist, remain to below under highest champion of harga 1.032,70 dollar per ounce, reached at harga 17 March, four day after succeeding to penetrate psychological number 1.000 dollar for the first time.
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Price Tin Anjlok
Price Sand SN tin 72 wet lobby in harga collector storey level and Partner PT Tin Tbk anjlok from Rp gyration 106.000 per singk become Rp 70.000 per singk. Value sell buy this mining products go down drasticly, in last two week. According to collector and partner, condition of that happened because influence go down request of harga world, including Metal London price standard of harga Enchange LME which continue to decline
That condition is harga confessed by Director LIMITED PARTNER, CV harga Nurjanah, Partner PT Tin Tbk, Mulkan when held an interview with Bangka Post Group, Wednesday 13 7 in harga Sungailiat. " Degradation of harga Price tin sand it is true have happened in two last week," he she said. Mulkan do not later, degradation of harga price buy tin sand which he intend happened so quickly. " In July 2008 then tin sand price which have lobby basah with SN rate 72 equal to Rp 106.000 per singk. Last week, tin sand price with is harga same SN rate go down to become Rp 85.000 per singk. While today yesterday red price progressively anjlok, that is only Rp Rp 70.000 per singk," he she said
Concerning tin sand price SN lobby 72 that partner storey level of harga Mulkan word, offish at harga price standard specified by PT Tin Tbk. " About degradation of harga that price, we are as partner, have been advised by PT Tin. such Pricing there is harga its rule " he she said. Mulkan even price memprediksikan will continue to decline at harga lower level again. " Even SN lobby tin sand price 72, tomorrow today red will go down again become Rp 65.000 per singk. that Sand tin price, might possibly go down again at harga harihari
meant by harga price is harga that Mulkan, in abeyance to tin sand price in harga mineworker storey level TI. Because tin sand obtained by all harga mineworker, categorized by harga still pregnant alias dirty of harga lain pasir debu ikutan mineral, besides tin sand sakan tin. " Sand tin price from TI, below under lobby price. For example, if SN lobby price 65.000 per singk, hence tin sand price without lobby in harga TI ratarata owner storey level about around harga Rp 55.000, or lessened by harga about around harga 10 gratuity % harga because diangab still is dirty," he she said
Concerning cause degradation of harga this tin sand price, Mulkan confess because menurun request him it harga. " Price LME standard decline because it is true request of harga world go down," he she said. Disingung moment do tin sand price is harga also influenced by dollar rate USD, Mulkan feel do not sure. " I think non dollar influence, but it is true because permintan a world of going down. clear during a period of to olympiad this is price fall," he she said
Ngiret Can
difficult Fluctuation Price tin sand of harga diprediksi. Improvement and his its harga degradation can berubahubah fancifully. That condition make many party side harga become kelabakan. Is harga such as those which experienced of by collector tin sand pengumpul, Agus 28. " I have known hargahakan continue to experience of degradation, hence my direct quicken lobby goals so that to be harga can be sold by harga before price fall again," Agus word when met by harga Bangka Post Group in harga location wash of harga tin in harga Prosperous Countryside Masterpiece of harga District of harga Pemali, Wednesday 13 8 morning.
Agus which also represent this TI owner do not deny, that condition make many ' tin player' confused seven circling. " For example if today we buy tin in harga TI Rp price 60.000, if tomorrow its day of harga price go down to become Rp 55.000 per singk, hence we surely will lose. Sehinga perforced to, collector have to berhatihati, even a lot do not willing to buy tin for fear of price go down again. Because if is madcap, can ngiret bisabisa bankrupt of harga red," Agus word confess, to lessen the expense of opreasional, workmanship of harga tin sand lobby, nowadays he perforced to do conduct harga by harga xself alias do harga not employ others again
This condition do not only happened in harga Sub-Province Bangka region Just Induk, but in harga some pemekaran sub-province in harga Babel. Is harga such as those which experienced of by Bangka South tin sand collector Basel, Jamal 35 to Bangka Post Group moment met one day previously, Tuesday 12 8 in harga Sungailiat. Even according to Jamal, tin sand price in harga Basel, more is harga hard compared to in harga Sub-Province Bangka
" Many tin collector which is harga tin searching in harga toboali area and its surroundings because is cheaper. So also on the contrary, people in harga toboali a lot sell its tin sand to Sungailiat, because its costlier price," he she said. natural by harga one Experience of harga one boy this in harga price fluctuation moment do not again stabilize. " Last two week of harga me buy Rp tin 70.000 per singk without lobby. But few days later then price go down and I perforced to sell Rp 50.000 per singk because is harga money," Jamal word confess, loss of harga Rp 20.000 per that singk represent risk in tin business which he is harga lakoni.
Tips Menembus Harga Pasar Handphone
