BOFI

(redirected from Banks and Other Financial Institutions)
AcronymDefinition
BOFIBanks and Other Financial Institutions (Nigeria)
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References in periodicals archive ?
Many insurers plan to improve their ability to compete through alliances with banks and other financial institutions for distribution of their products, particularly with respect to e-commerce.
Finally, insurers could capitalize on the e-commerce capabilities of banks and other financial institutions while retaining ownership of customer data.
Banks and other financial institutions in these countries also need to maintain real and verifiable levels of shareholders' capital, while the institutions themselves need to improve their financial disclosures.
Such assistance has become especially important because it is evident from the recent unprecedented swings in currency exchange rates for some of the emerging market economies that the international financial system has become increasingly more sensitive than in the past to shortcomings in domestic banks and other financial institutions. The major advances in technologically sophisticated financial products in recent years have imparted a discipline on market participants not seen in nearly a century.
Rather, the boards of directors and senior management of banks and other financial institutions must be responsible for ensuring that the institutions they manage are able to provide high quality and continuous services from the first day in January of the Year 2000.
The development of new financial products and services has indeed blurred the distinction between banks and other financial institutions. For instance, money market accounts offered by securities firms can function much like checking accounts.
Aside from the difficulty of manipulating these markets, the Treasury argued that participants in OTC markets, primarily banks and other financial institutions, and large corporations, did not need the consumer protections of the Commodity Exchange Act.
Ultimately, the boards of directors and senior management of banks and other financial institutions must shoulder the responsibility for ensuring that the institutions they manage are able to provide high quality and continuous services beginning on the first business day in January of the Year 2000 and beyond.
In addition to the formal supervisory oversight exerted by regulators, concerns may be eased somewhat by the strong counterparty discipline being brought to bear worldwide on banks and other financial institutions dealing in these new products.
Technological change has also encouraged financial globalization, with expanded cross-border asset holdings, trading, and credit flows, and, in response, foreign and domestic banks and other financial institutions have increased their cross-border operations.
The foreign exchange survey is a proven vehicle for collecting data from banks and other financial institutions. It is conducted by central banks and monetary authorities in more than twenty-five countries, including all significant financial centers.