• 1241. The Economy of Great Britain

    By the mid 1970s both Labour and Conservative economists were beginning to recognise the need to move away from Keynesian economics, based upon stimulating demand by Injecting money into the economy. But, as described in the Introduction, it was the Conservatives who decided to break with the old economic formula completely. Returning to power in 1979, they were determined to lower taxes as an incentive to individuals and businesses to Increase productivity; to leave the labour force to regulate itself either by pricing itself out of employment or by working within the amount of money employers could afford; and, finally, to limit government spending levels and use money supply (the amount of money in circulation at any one time) as a way of controlling inflation. As Prime Minister Margaret Thatcher argued in the Commons, "If our objective is to have a prosperous and expanding economy, we must recognise that high public spending, as a proportion of GNP gross national product;, very quickly kills growth.... We have to remember that governments have no money at all. Every penny they take is from the productive sector of the economy in order to transfer it to the unproductive part of it." She had a point: between 1961 and 1975 employment outside Industry increased by over 40 per cent relative to employment in industry.

  • 1242. The Electronic accounting

    Now arbitrage practice is folded so that a taxpayer can bring to the account on an item 119 NK RF only for presentation of declaration in the term set by a law. Disturbing of her presentation of responsibility does not draw. As an example we will present Decision FRONT of ВСО from 16.10.2007 № А58-2710/07-Ф02- 7689/07, a next situation is considered in which. Organization in good time presented in a tax organ declarations in an electronic kind on a diskette with confirmation on paper transmitters. In turn, налоговики said no in the reception of accounting, specifying on the duty of firm to present declarations in an electronic kind on telecommunication communication channels. Firm long did not argue and went under the thumb of inspectors, but the date of dispatch of declarations on telecommunication communication channels appeared outside the set terms. In the total organization was brought to the account on п. of a 1 item 119 NK of Russian FEDERATION. However judges decided that налоговики in this case had extended the sphere of action of norms of НК РФ about tax responsibility and, alluding to the Informative letter YOU Russian FEDERATION from 17.03.2003 № 71, specified on absence of grounds for bringing in of taxpayer to responsibility. Result of "battles" - the decision of tax organ is acknowledged by illegal. Moreover, grounds for the overvalue of conclusions of court on this dispute YOU Russian FEDERATION did not find (Decision from 14.02.2008 № 1475/08).

  • 1243. The emergence of the first Polish socialist parties
    Иностранные языки

    Part of Polish Socialists (B. Veselovskii) disagreed with the national program of the Party PPP, already in 1893 created a separate political party called the Social Democracy of Poland (SDP), which two years ceased to exist. Magazine "Right Robotnicza became the press organ of the party. Only in January 1900 it was revived and merged with the Workers Union of Lithuania (the union took place at a congress in Minsk), entitled "Social-Democracy of the Kingdom of Poland and Lithuania. The creators of the party were Julian Marhelevsky, Felix Dzerzhinsky, Adolf varsky and the chief party theoretician - Rosa Luxemburg. Program PPP postulate the independence of Poland's leaders SDKPiL considered unattainable utopia because of the full inclusion of lands of the former Polish-Lithuanian Commonwealth in the economic organism of Russia, Germany and Austria-Hungary. However SDKPiL was more important to follow the Marxist ideas of an international struggle of the proletariat for the abolition of capitalism and establish a dictatorship [5, pp.55].

  • 1244. The enlargement of the European Union

    After a half century of Community history, Europeans still have a lot of soul-searching to do: How far could and should the Union be taken in order to maximise the strength which derives from unity, without at the same time eroding identity and destroying the individual ethos which makes the richness of our nations, regions and cultures? Can they move forward in step, thanks to the natural harmony which favours consensus between 15 countries, or should they recognise divergences of approach and differentiate their pace of integration? What are the limits of Community Europe, at a time when so many nations, starting with the new democracies of central and eastern Europe and the Balkans, along with Turkey, are asking to join the process of unification in progress? How can the people of Europe get everyone involved in the Community undertaking and give them the feeling of a European identity which complements and goes beyond fundamental solidarity?

  • 1245. The essence of democracy and its core values
    Юриспруденция, право, государство

    values - that's democracy for what it is worth protecting, is the personification of its significance, its appeal for millions of people, what makes democracy gaining new fans around the world.and citizenshipcore of democratic citizenship and citizenship. They mean not only (and not so much) formal membership rights in the state, political and legal relationship with its structure, how much sophistication and social consciousness of individual dignity and human capacity to realize their own interests and protect them with knowledge of the case and considering the interests of the society .requires a conscious and active involvement of citizens in public life, and without that it can not happen. Warning from the romanticized vision of democracy, E. Benesh wrote: "First of all, democracy means work, great work, mostly undistinguished, work systematic, persistent, constant and intense." Citizenship is the status of a developed civil values, because they increase a person civilization it, form the order based on freedom and responsibility.Constitution and constitutionalismConstitution should clearly define the principles of social coexistence of people in a democratic society. Inviolability of the constitutional principles enables us to social order and social freedom independent of whether it is the president who stands at the head of State or which party won a majority in parliament.Constitution is designed to limit government power and protect human rights and freedoms. Human rights and freedoms is such value of democracy, which is represented in all its forms and procedures. It is for the protection and realization of the value of a democracy. Constitutional legal order is this system of relations in which everyone is given the greatest possible freedom of initiative and self-determination. Collective behavior rules that unduly restrict an individual should not exist in a free society.of consciencedemocracy is born and adopted as one of its major values freedom of conscience and tolerance.importance of this value is that democracy allows you to find and use the normal form of coexistence of citizens who are of different religious opinions, or generally are atheists. Religion and beliefs Rights recognized the realm of individual choice, which can not interfere nor the state nor other people.the principles of freedom of conscience are reflected in international human rights, constitutions of democratic states. But the interfaith conflict, clashes and conflicts are not left completely in the past. Even today, religious extremists and fanatics are trying by means of terror to achieve their goals, overcome the "opponents" (more often - just to destroy them). This makes democracy look dignified and appropriate response to such challenges.of speechof speech creates free in their actions and are protected by the media, which allow citizens to be truly aware of the situation in the country. Through the media people can express their opinions regarding a particular social problem, another political figure.opinion - a result of freedom of speech. After sharing opinions is possible only when people can freely, without fear of punishment or penalty, to show his true attitude to certain events, institutions, artists and others., free speech, free media - is the largest democratic values. However, like any other freedom can not exist without restrictions. Imagine a situation in which the press can not just "tell all", but "to say everything with impunity" (do slander on the people, lie, etc.). Behind her we see the emergence of a new tyranny.- media and its dignity back. Dignity - part of the authority of the citizen, his self-respect and respect for others. Everyone - a unique creation, and it must be recognized and appreciate, develop and use responsibly in life, understanding that are the outcome of dignity and in freedom. A truly worthy can only be a free man. The dignity of the citizen forces act, become an obstacle for violation of the principles and foundations of democratic order, oppose any oppression of freedom. Totalitarian regimes do not tolerate most of this very human traits, feeling that it brings them to decline.can exist only in the context of other advantages (dignity of others). In this respect to another and its recognition is based not on any considerations respect "for something" or "for something, but only that the person is respected as such, respected in her human.for human dignity requires deeply rooted in the society of tolerance (tolerance), the recognition of the inalienable right of all people. Cultivation of dignity and tolerance civilization society exalts man.autonomyautonomy means that a person is exercising its self-determination freely and objectively, using their own understanding of happiness and good. No one can affect the ideological, religious or other preference rights. This scope of free choice. Recognize as members of society, their moral and practical means to ensure their autonomy status. It serves this purpose most written in the Constitution rights and liberties., privacyin which the person is able to define their own lives and exist independently of the other, called the private (personal) life. In a democratic state of law and human law forbid its communication range from the casual interest (secret telephone conversations, correspondence, photographs ban without permission rights etc.).Associationis a socially-oriented (that is directed at the community, society) form of belief. Democracy based on respect for civic thought, joint decision, civil order and social consensus. Associative (communitarian) values of a strong ethical foundation of democratic existence. It is about solidarity, trust, mutual support and willingness to act in concert to protectorderis a universal value of any society. This means that most people would like to live in stability, orderliness and safety. But democracy - is permanent, but ordered (laws, procedures, civil balance, awareness and experience) conflict. Sometimes it takes a substantial scale (especially during elections), but that society will benefit as a result. At least not problems inside and do not take malignant latent nature. Thus, the culture of conflict is an important achievement of democracy.

  • 1246. The evolution

    Speaking of the Evolution theory it would be wrong to avoid the great work of Darwin. Charles Darvin lived in the time of rapid society development when natural science was on the up-grade. There were many scientific inventions. The epochal work тАЬOrigins of speciesтАЭ has been republished seven times during the authors life. It became known to many scientists from other countries and has been translated into the majority of European languages. The driving forces of evolution, according to Darwin, are heritable change and natural selection. Evolution theory says that all living things are related to one another through common ancestry from earlier forms that differed from the present forms. According to the theory, variability among individuals in a population of sexually reproducing organisms is produced by mutation and genetic recombination. The mutation becomes a base of new words of organisms structures and functions formation, and the heritance anchors them. The resulting genetic variability is subject to natural selection in the environment.


    As president, Clinton directed Secretary of Defense Les Aspin to conduct a review of military requirements. In September 1, 1993, the Clinton administrations first defense planning document named тАЬBottom-Up ReviewтАЭ (BUR) was announced. The BUR identifies four major sources of danger to US security: (1) aggression instigated by major regional powers; (2) the proliferation of weapons of mass destruction; (3) the failure of former communist states to make a succesful transition to democracy; (4) a failure to maintain a strong and growing US economic base. (Recently, one more danger has been added: тАЬtransnational threats.тАЭ The BUR offers a force structure oriented around three general missions: (1) waging two тАЬnearly simultaneousтАЭ major regional conflicts (the two-MRC requirement); (2) conducting peace operations; and (3) maintaining forward presence in areas where the US has vital interests. The BUR accords significant weight to maintaining the overseas military presence of US forces in sizing Americas post-Cold War force structure. The plan is to retain roughly 100,000 troops in Europe and some 98,000 troops in East Asia.

  • 1248. The explaining of the meaning of neologism
    Иностранные языки

    The resolving of understanding neologism by the different investigators becomes clear two points of view, concluding in that, that the term of neologism using in new style, as a creating on a new material of language in full corresponding with existing in language kinds of words or word combinations, meaning new, beforehand unknown, unexciting understanding, subject, branch of knowledge, profession and so on, f. e. reaction- ядерный реактор, biocide-биологическая война and so on, in such way as neologism, and exactly in new created synonyms already existing in a word language for the meaning of well known understanding almost semantic and stylistic colours of word, which are based on its general meanings, and already to words in new meaning: for example the word boffin (scientist) presented the synonyms of the word scientist, but it already has another semantic colour and so on. Almost marked some difference in contents of that lexical innovations by the cause of its result, of its stability in language, of its clearness of using, of its future destiny when few of them will fast enter into the language, anothers will be less stabile and can be thrown out of using after some short time.

  • 1249. The face of every city is different. Washington D.C.
  • 1250. The face of every city is different. Washington D.C.

    Washington D.C. is the capitol of US. It is situated in the District of Columbia and is like no other city in America. its the worlds largest one-industry city. And that industry is government. The White House, where the US president lives and works, the Capitol, the home of the US congress, and the Supreme Court, are all in Washington. The city was so named in memory of George Washington, the first president of the USA, known for the active participation in the war with Britain. A special district was created for the city the District of Columbia. The city was laid out according to be a capitol. Washington is one of the most magnificent and unusual cities in the USA. In the centre of it rises the huge dome of the Capitol a big white dome standing in a circle of pillars. Its rather easy to get lost in this huge building, full of paintings and statues.

  • 1251. The fastest computers of the world
    Иностранные языки
  • 1252. The Federal Reserve System

    Federal Reserve exercises considerable control over the demand for and supply of balances that depository institutions hold at the Reserve Banks. In so doing, it influences the federal funds rate and, ultimately, employment, output, and prices. Federal Reserve implements U.S. monetary policy by affecting conditions in the market for balances that depository institutions hold at the Federal Reserve Banks. The operating objectives or targets that it has used to effect desired conditions in this market have varied over the years. At one time, the FOMC sought to achieve a specific quantity of balances, but now it sets a target for the interest rate at which those balances are traded between depository institutions-the federal funds rate. By conducting open market operations, imposing reserve requirements, permitting depository institutions to hold contractual clearing balances, and extending credit through its discount window facility, the Federal Reserve exercises considerable control over the demand for and supply of Federal Reserve balances and the federal funds rate. Through its control of the federal funds rate, the Federal Reserve is able to foster financial and monetary conditions consistent with its monetary policy objectives. The Federal Reserve influences the economy through the market for balances that depository institutions maintain in their accounts at Federal Reserve Banks. Depository institutions make and receive payments on behalf of their customers or themselves in these accounts. The end-of-day balances in these accounts are used to meet reserve and other balance requirements. If a depository institution anticipates that it will end the day with a larger balance than it needs, it can reduce that balance in several ways, depending on how long it expects the surplus to persist. For example, if it expects the surplus to be temporary, the institution can lend excess balances in financing markets, such as the market for repurchase agreements or the market for federal funds. most of the 1970s, the Federal Reserve targeted the price of Federal Reserve balances. The FOMC would choose a target federal funds rate that it thought would be consistent with its objective for M1 growth over short intervals of time. The funds-rate target would be raised or lowered if M1 growth significantly exceeded or fell short of the desired rate. At times, large rate movements were needed to bring money growth back in line with the target, but the extent of the necessary policy adjustment was not always gauged accurately. Moreover, there appears to have been some reluctance to permit substantial variation in the funds rate. As a result, the FOMC did not have great success in combating the increase in inflationary pressures that resulted from oil-price shocks and excessive money growth over the decade. late 1979, the FOMC recognized that a change in tactics was necessary. In October, the Federal Reserve began to target the quantity of reserves-the sum of balances at the Federal Reserve and cash in the vaults of depository institutions that is used to meet reserve requirements-to achieve greater control over M1 and bring down inflation. In particular, the operational objective for open market operations was a specific level of non-borrowed reserves, or total reserves less the quantity of discount window borrowing. A predetermined target path for non-borrowed reserves was based on the FOMCs objectives for M1. If M1 grew faster than the objective, required reserves, which were linked to M1 through the required reserve ratios, would expand more quickly than non-borrowed reserves. With the fixed supply of non-borrowed reserves falling short of demand, banks would bid up the federal funds rate, sometimes sharply. The rise in short-term interest rates would eventually damp M1 growth, and M1 would be brought back toward its targeted path. demand for Federal Reserve balances has three components: required reserve balances, contractual clearing balances, and excess reserve balances. reserve balances are balances that a depository institution must hold with the Federal Reserve to satisfy its reserve requirement. Reserve requirements are imposed on all depository institutions-which include commercial banks, savings banks, savings and loan associations, and credit unions-as well as U.S. branches and agencies of foreign banks and other domestic banking entities that engage in international transactions. Since the early 1990s, reserve requirements have been applied only to transaction deposits, which include demand deposits and interest-bearing accounts that offer unlimited checking privileges. An institutions reserve requirement is a fraction of such deposits; the fraction-the required reserve ratio-is set by the Board of Governors within limits prescribed in the Federal Reserve Act. A depository institutions reserve requirement expands or contracts with the level of its transaction deposits and with the required reserve ratio set by the Board. In practice, the changes in required reserves reflect movements in transaction deposits because the Federal Reserve adjusts the required reserve ratio only infrequently. depository institution satisfies its reserve requirement by its holdings of vault cash (currency in its vault) and, if vault cash is insufficient to meet the requirement, by the balance maintained directly with a Federal Reserve Bank or indirectly with a pass-through correspondent bank (which in turn holds the balances in its account at the Federal Reserve). The difference between an institutions reserve requirement and the vault cash used to meet that requirement is called the required reserve balance. If the balance maintained by the depository institution does not satisfy its reserve balance requirement, the deficiency may be subject to a charge. supply of Federal Reserve balances to depository institutions comes from three sources: the Federal Reserves portfolio of securities and repurchase agreements; loans from the Federal Reserve through its discount window facility; and certain other items on the Federal Reserves balance sheet known as autonomous factors. theory, the Federal Reserve could conduct open market operations by purchasing or selling any type of asset. In practice, however, most assets cannot be traded readily enough to accommodate open market operations. For open market operations to work effectively, the Federal Reserve must be able to buy and sell quickly, at its own convenience, in whatever volume may be needed to keep the federal funds rate at the target level. These conditions require that the instrument it buys or sells be traded in a broad, highly active market that can accommodate the transactions without distortions or disruptions to the market itself. market for U.S. Treasury securities satisfies these conditions. The .S. Treasury securities market is the broadest and most active of U.S. financial markets. Transactions are handled over the counter, not on an organized exchange. Although most of the trading occurs in New York City, telephone and computer connections link dealers, brokers, and customers-regardless of their location-to form a global market. Market Operations Federal Reserve Bank of New York conducts open market operations for the Federal Reserve, under an authorization from the Federal Open Market Committee. The group that carries out the operations is commonly referred to as the Open Market Trading Desk or the Desk. The Desk is permitted by the FOMCs authorization to conduct business with U.S. securities dealers and with foreign official and international institutions that maintain accounts at the Federal Reserve Bank of New York. The dealers with which the Desk transacts business are called primary dealers. The Federal Reserve requires primary dealers to meet the capital standards of their primary regulators and satisfy other criteria consistent with being a meaningful and creditworthy counterparty. All open market operations transacted with primary dealers are conducted through an auction process. day, the Desk must decide whether to conduct open market operations, and, if so, the types of operations to conduct. It examines forecasts of the daily supply of Federal Reserve balances from autonomous factors and discount window lending. The forecasts, which extend several weeks into the future, assume that the Federal Reserve abstains from open market operations. These forecasts are compared with projections of the demand for balances to determine the need for open market operations. The decision about the types of operations to conduct depends on how long a deficiency or surplus of Federal Reserve balances is expected to last. If staff projections indicate that the demand for balances is likely to exceed the supply of balances by a large amount for a number of weeks or months, the Federal Reserve may make outright purchases of securities or arrange longer-term repurchase agreements to increase supply. Conversely, if the projections suggest that demand is likely to fall short of supply, then the Federal Reserve may sell securities outright or redeem maturing securities to shrink the supply of balances. after accounting for planned outright operations or long-term repurchase agreements, there may still be a short-term need to alter Federal Reserve balances. In these circumstances, the Desk assesses whether the federal funds rate is likely to remain near the FOMCs target rate in light of the estimated imbalance between supply and demand. If the funds rate is likely to move away from the target rate, then the Desk will arrange short-term repurchase agreements, which add balances, or reverse repurchase agreements, which drain balances, to better align the supply of and demand for balances. If the funds rate is likely to remain close to the target, then the Desk will not arrange a short-term operation. Short-term temporary operations are much more common than outright transactions because daily fluctuations in autonomous factors or the demand for excess reserve balances can create a sizable imbalance between the supply of and demand for balances that might cause the federal funds rate to move significantly away from the FOMCs target. requirements have long been a part of Americas banking history. Depository institutions maintain a fraction of certain liabilities in reserve in specified assets. The Federal Reserve can adjust reserve requirements by changing required reserve ratios, the liabilities to which the ratios apply, or both. Changes in reserve requirements can have profound effects on the money stock and on the cost to banks of extending credit and are also costly to administer; therefore, reserve requirements are not adjusted frequently. Nonetheless, reserve requirements play a useful role in the conduct of open market operations by helping to ensure a predictable demand for Federal Reserve balances and thus enhancing the Federal Reserves control over the federal funds rate. depository institutions to hold a certain fraction of their deposits in reserve, either as cash in their vaults or as non-interest-bearing balances at the Federal Reserve, does impose a cost on the private sector. The cost is equal to the amount of forgone interest on these funds-or at least on the portion of these funds that depository institutions hold only because of legal requirements and not to meet their customers needs. burden of reserve requirements is structured to bear generally less heavily on smaller institutions. At every depository institution, a certain amount of receivable liabilities is exempt from reserve requirements, and a relatively low required reserve ratio is applied to receivable liabilities up to a specific level. The amounts of receivable liabilities exempt from reserve requirements and subject to the low required reserve ratio are adjusted annually to reflect growth in the banking system. Changes in reserve requirements can affect the money stock, by altering the volume of deposits that can be supported by a given level of reserves, and bank funding costs. Unless it is accompanied by an increase in the supply of Federal Reserve balances, an increase in reserve requirements (through an increase in the required reserve ratio, for example) reduces excess reserves, induces a contraction in bank credit and deposit levels, and raises interest rates. It also pushes up bank funding costs by increasing the amount of non-interest-bearing assets that must be held in reserve. Conversely, a decrease in reserve requirements, unless accompanied by a reduction in Federal Reserve balances, initially leaves depository institutions with excess reserves, which can encourage an expansion of bank credit and deposit levels and reduce interest rates. the 1960s and 1970s, the Federal Reserve actively used reserve requirements as a tool of monetary policy in order to influence the expansion of money and credit partly by manipulating bank funding costs. As financial innovation spawned new sources of bank funding, the Federal Reserve adapted reserve requirements to these new financial products. It changed required reserve ratios on specific bank liabilities that were most frequently used to fund new lending. Reserve requirements were also imposed on other, newly emerging liabilities that were the functional equivalents of deposits, such as Eurodollar borrowings. At times, it supplemented these actions by placing a marginal reserve requirement on large time deposits -that is, an additional requirement applied only to each new increment of these deposits. the 1970s unfolded, it became increasingly apparent that the structure of reserve requirements was becoming outdated. At this time, only banks that were members of the Federal Reserve System were subject to reserve requirements established by the Federal Reserve. The regulatory structure and competitive pressures during a period of high interest rates were putting an increasing burden on member banks. This situation fostered the growth of deposits, especially the newly introduced interest-bearing transaction deposits, at institutions other than member banks and led many banks to leave the Federal Reserve System. Given this situation, policy makers felt that reserve requirements needed to be applied to a broad group of institutions for more effective monetary control-that is, to strengthen the relationship between the amount of reserves supplied by the Federal Reserve and the overall quantity of money in the economy. Monetary Control Act of 1980 (MCA) ended the problem of membership attrition and facilitated monetary control by reforming reserve requirements. Under the act, all depository institutions are subject to reserve requirements set by the Federal Reserve, whether or not they are members of the Federal Reserve System. The Board of Governors may impose reserve requirements solely for the purpose of implementing monetary policy. The required reserve ratio may range from 8 percent to 14 percent on transaction deposits and from 0 percent to 9 percent on non-personal time deposits. The Board may also set reserve requirements on the net liabilities owed by depository institutions in the United States to their foreign affiliates or to other foreign banks. The MCA permits the Board, under certain circumstances, to establish supplemental and emergency reserve requirements, but these powers have never been exercised. the passage of the MCA in 1980, reserve requirements were not adjusted for policy purposes for a decade. In December 1990, the required reserve ratio on non-personal time deposits was pared from 3 percent to 0 percent, and in April 1992 the 12 percent ratio on transaction deposits was trimmed to 10 percent. These actions were partly motivated by evidence suggesting that some lenders had adopted a more cautious approach to extending credit, which was increasing the cost and restricting the availability of credit to some types of borrowers. By reducing funding costs and thus providing depository institutions with easier access to capital markets, the cuts in required reserve ratios put depository institutions in a better position to extend credit. reserve requirement ratios have not been changed since the early 1990s, the level of reserve requirements and required reserve balances has fallen considerably since then because of the widespread implementation of retail sweep programs by depository institutions. Under such a program, a depository institution sweeps amounts above a predetermined level from a depositors checking account into a special-purpose money market deposit account created for the depositor. In this way, the depository institution shifts funds from an account that is subject to reserve requirements to one that is not and therefore reduces its reserve requirement. With no change in its vault cash holdings, the depository institution can lower its required reserve balance, on which it earns no interest, and invest the funds formerly held at the Federal Reserve in interest-earning assets. Discount Window Federal Reserves lending at the discount window serves two primary functions. It complements open market operations in achieving the target federal funds rate by making Federal Reserve balances available to depository institutions when the supply of balances falls short of demand. It also serves as a backup source of liquidity for individual depository institutions. the volume of discount window borrowing is relatively small, it plays an important role in containing upward pressures on the federal funds rate. If a depository institution faces an unexpectedly low balance in its account at the Federal Reserve, either because the total supply of balances has fallen short of demand or because it failed to receive an expected transfer of funds from a counterparty, it can borrow at the discount window. This extension of credit increases the supply of Federal Reserve balances and helps to limit any upward pressure on the federal funds rate. At times when the normal functioning of financial markets is disrupted-for example after operational problems, a natural disaster, or a terrorist attack-the discount window can become the principal channel for supplying balances to depository institutions. discount window can also, at times, serve as a useful tool for promoting financial stability by providing temporary funding to depository institutions that are having significant financial difficulties. If the institutions sudden collapse were likely to have severe adverse effects on the financial system, an extension of central bank credit could be desirable because it would address the liquidity strains and permit the institution to make a transition to sounder footing. Discount window credit can also be used to facilitate an orderly resolution of a failing institution. An institution obtaining credit in either situation must be monitored appropriately to ensure that it does not take excessive risks in an attempt to return to profitability and that the use of central bank credit would not increase costs to the deposit insurance fund and ultimately the taxpayer. ordinary circumstances, the Federal Reserve extends discount window credit to depository institutions under the primary, secondary, and seasonal credit programs. The rates charged on loans under each of these programs are established by each Reserve Banks board of directors every two weeks, subject to review and determination by the Board of Governors. The rates for each of the three lending programs are the same at all Reserve Banks, except occasionally for very brief periods following the Boards action to adopt a requested rate change. The Federal Reserve also has the authority under the Federal Reserve Act to extend credit to entities that are not depository institutions in unusual and exigent circumstances; however, such lending has not occurred since the 1930s. Credit credit is available to generally sound depository institutions on a very short-term basis, typically overnight. To assess whether a depository institution is in sound financial condition, its Reserve Bank regularly reviews the institutions condition, using supervisory ratings and data on adequacy of the institutions capital. Depository institutions are not required to seek alternative sources of funds before requesting occasional advances of primary credit, but primary credit is expected to be used as a backup, rather than a regular, source of funding. rate on primary credit has typically been set 1 percentage point above the FOMCs target federal funds rate, but the spread can vary depending on circumstances. Because primary credit is the Federal Reserves main discount window program, the Federal Reserve at times uses the term discount rate specifically to mean the primary credit rate. Banks ordinarily do not require depository institutions to provide reasons for requesting very short-term primary credit. Borrowers are asked to provide only the minimum information necessary to process a loan, usually the requested amount and term of the loan. If a pattern of borrowing or the nature of a particular borrowing request strongly indicates that a depository institution is not generally sound or is using primary credit as a regular rather than a backup source of funding, a Reserve Bank may seek additional information before deciding whether to extend the loan. credit may be extended for longer periods of up to a few weeks if a depository institution is in generally sound financial condition and cannot obtain temporary funds in the market at reasonable terms. Large and medium-sized institutions are unlikely to meet this test. Credit credit is available to depository institutions that are not eligible for primary credit. It is extended on a very short-term basis, typically overnight. Reflecting the less-sound financial condition of borrowers of secondary credit, the rate on secondary credit has typically been 50 basis points above the primary credit rate, although the spread can vary as circumstances warrant. Secondary credit is available to help a depository institution meet backup liquidity needs when its use is consistent with the borrowing institutions timely return to a reliance on market sources of funding or with the orderly resolution of a troubled institutions difficulties. Secondary credit may not be used to fund an expansion of the borrowers assets. extended under the secondary credit program entail a higher level of Reserve Bank administration and oversight than loans under the primary credit program. A Reserve Bank must have sufficient information about a borrowers financial condition and reasons for borrowing to ensure that an extension of secondary credit would be consistent with the purpose of the facility. Moreover, under the Federal Deposit Insurance Corporation Improvement Act of 1991, extensions of Federal Reserve credit to an FDIC-insured depository institution that has fallen below minimum capital standards are generally limited to 60 days in any 120-day period or, for the most severely undercapitalized, to only five days. Credit Federal Reserves seasonal credit program is designed to help small depository institutions manage significant seasonal swings in their loans and deposits. Seasonal credit is available to depository institutions that can demonstrate a clear pattern of recurring swings in funding needs throughout the year-usually institutions in agricultural or tourist areas. Borrowing longer-term funds from the discount window during periods of seasonal need allows institutions to carry fewer liquid assets during the rest of the year and make more funds available for local lending. seasonal credit rate is based on market interest rates. It is set on the first business day of each two-week reserve maintenance period as the average of the effective federal funds rate and the interest rate on three-month certificates of deposit over the previous reserve maintenance period. [see 14 p.29]

  • 1253. The Geographical Position of Ukraine
    Иностранные языки

    Nowadays much attention is paid to our youth. The desire of our young people to become qualified specialists in future motivates them to enter higher educational establishments. Higher education for young people nowadays is the method of developing their talents and abilities, their creative potential. That's why beside their studies they are also engaged in different clubs and organizations. A lot of young people go in for sports. That is why schools and institutes have sport clubs and teams. Our young people are especially interested in football, basketball, hockey etc. There also exists a great variety of different clubs in this country. Future belongs to the youth. Many young people are engaged in political parties and organizations such as «the greens», the Union of Ukrainian Youth and others.

  • 1254. The Global Money Markets and Money Management
    Иностранные языки

    Technically, and in some countries legally as well, the transfer of a banknote scarcely differs from that of a coin. The similarity of outward appearance is such that those who are engaged in commercial dealings are usually unable to distinguish between those objects that actually perform the function of money and those that are merely employed as substitutes for them. The businessman does not worry about the economic problems involved in this; he is only concerned with the commercial and legal characteristics of coins, notes, checks, and the like. To him, the facts that banknotes are transferable without documentary evidence, that they circulate like coins in round denominations, that no fight of recovery lies against their previous holders, that the law recognizes no difference between them and money as an instrument of debt settlement, seem good enough reason for including them within the definition of the term money, and for drawing a fundamental distinction between them and cash deposits, which can be transferred only by a procedure that is much more complex technic ally and is also regarded in law as of a different kind. This is the origin of the popular conception of money by which everyday life is governed. No doubt it serves the purposes of the bank official, and it may even be quite useful in the business world at large, but its introduction into the scientific terminology of economics is most undesirable.

  • 1255. The government role in the market economy

    Some solutions which government can be using for proper children care are given below:

    1. regulation - some kind of legislative regulations which prescribe attend day care services for a certain age children. Here we can not forget cost factor which is very important. To implement this regulations government will have to have an institution which has to ensure correct implementation.
    2. standards - setting up different kind of social standards, such as income level at which one should be provided by a certain amount of a gift voucher which can be used for day care services. This has to be integrated with an analysis of a regional day care services infrastructure imperfection.
    3. compensate those families which are using private day care services instead of public day care services as they want to have a greater quality. Municipalities should provide subsidies for children from high-risk families to attend those day care services free of charge or for partly payment.
    4. voluntary action
    5. direct - when someone understands that he can help society with helping and educating these children at day care service institutions
    6. indirect - this can also be brought under section regulations where we mean by making appropriate legislation where one will be completely tax deductible for amount of money which one donate to a day care service field. We want to call this as voluntary action instead of tax or regulation action because those companies have to make their own voluntary decision whether they will be using tax deduct or appropriate law.
  • 1256. The grammar of contemporary English
    Иностранные языки

    words of language, depending on various formal and semantic features, are divided into grammatically relevant classes. The traditional grammatical classes of words are called "parts of speech."problem of parts of speech caused much difficulty both in general linguistics and in the analysis of separate languages. Though it has been studied for more than 200 years, the criteria for defining parts of speech have not been worked out yet. Traditionally grammar gave a semantic definition of parts of speech, taking into account only meaning. However, only meaning cannot be a reliable criterion for defining parts of speech because different parts of speech may have the same meaning and vice versa. E.g. the nouns "books", "tables", "students", denote objects and there are nouns as flight", "movement", "arrival", which do not denote objects but belong to nouns. We see that meaning cannot be the only criterion for defining parts of speech. The structural school of linguistics does not take into account meaning only but only form. Form alone cannot be a reliable criterion either because many parts of speech especially in English may have the same form, e.g. water-to water, silk (adj.) - to silk. Moreover, if we take into account only form, then such unchangeable words as article, particle should be referred to only part of speech.see that the criterion of form is not sufficient. The grammatical criterion should be taken into account to give an adequate definition of any part of speech. By grammatical features we mean:)morphological)syntacticalmorphological features different categories are meant. The morphological categories of noun are the categories of number and case. By morphological categories of adjectives we mean the category of quality (degrees of comparison). By syntactical features of the part of speech the syntactical functions of it are meant. The syntactical function is the most reliable criterion. Thus, the modern conception and amended definition of part of speech should take into account all the above mentioned criteria in complex. [4]notion of dividing words into discrete parts of speech is generally credited to the ancient Greek grammarian Dionysius Thrax. For a long time, the idea was pretty much universally accepted. Eventually, grand claims were made for it. The anonymous author of the 1733 book "The English Accidence" called the parts of speech "the foundation upon which the beautiful fabrick of the language stands." John Stuart Mill felt they represented universal categories of human thought.problem with such reverence is that different languages are set up differently. For example, Latin, Russian and Japanese all lack articles. Even in our own tradition, the roster keeps shifting. Thrax counted eight parts: adverbs, articles, conjunctions, nouns, participles, prepositions, pronouns and verbs. The Latin-speaking Romans obviously had to drop articles. Perhaps to keep the eight-part scheme, they added - golly! - interjections. Early formulations of English grammar adopted the Latin list. This presented problems, since English does have articles. There was a lot of shuffling around, until Joseph Priestley's 1761 "Rudiments of English Grammar" finally established the baseball-size lineup that included adjectives and booted out participles. This slate has been generally accepted for the last quarter-millennium and is familiar to the population at large from "Schoolhouse Rock" and the italicized abbreviations (adj., etc.) after words in the dictionary. But for some time there have been rumblings of discontent in the higher reaches of the linguistics community. In the 1920's, Edward Sapir wrote that "no logical scheme of the parts of speech - their number, nature and necessary confines - is of the slightest interest to the linguist." The fact is, any parts-of-speech scheme leaves gaping holes. In the term baseball player, is the word baseball a noun or an adjective? Reasonable people differ on this point. What about the word to in an infinitive like to see? What about the there in there are?day grammarians don't even like to use "parts of speech," preferring "word classes" or "lexical categories." A recent trend has been to accept some fuzziness. Nouns, for example, are often defined by having some or all of a list of capabilities, including being the subject of a sentence or clause, having a plural form or displaying a suffix like "-tion" or "-hood." A word like mother, which does all three, is a very "nouny" noun. Paris, which satisfies only the first, is on the fringes.have also done some major fiddling. Rodney Huddleston and Geoffrey Pullum's magisterial 2002 "Cambridge Grammar of the English Language" counts pronouns as a subset of nouns, replaces articles with a new category called "determinatives" (which also includes words like this, some and every) and divides conjunctions into "coordinators" (and, but and or) and "subordinators" (like whether).regardless of name, lexical categories are quite useful. They make possible not only Mad Libs but also the rhetorical device anthimeria - using a word as a noncustomary part of speech - which is the reigning figure of speech of the present moment.'s not to say it's a new thing. In Middle English, the nouns duke and lord started to be used as verbs, and the verbs cut and rule shifted to nouns. Shakespeare was a pro at this; his characters coined verbs - "season your admiration," "dog them at the heels" - and such nouns as design, scuffle and shudder. Less common shifts are noun to adjective (S.J. Perelman's "Beauty Part"), adjective to noun (the Wicked Witch's "I'll get you, my pretty") and adverb to verb (to down a drink)."functional shifting," as grammarians call it, is a favorite target of language mavens, whose eyebrows rise several inches when nouns like impact and access are verbed. Nor do companies like it when their trade names get shifted. In his book "Word Spy," Paul McFedries writes that Google's attorneys send journalists who use google as a verb a stern letter that cites examples of appropriate ("I used Google to check out that guy I met at the party") and inappropriate ("I googled that hottie") uses.'s beyond obvious that Google's lawyers are fighting a losing battle. And they should relax. Not only is "I googled that hottie" great publicity for the company, but it's fresh and funny and an excellent example of how anthimeria gives English an invigorating slap upside the head. At this very moment, the language is being regenerated with phrases like my bad, verbs like dumb down and weird out and guilt ("Don't guilt me") and even the doubly anthimeric "Pimp My Ride," an MTV series in which a posse of artisans take a run-down jalopy and sleek it up into a studly vehicle containing many square yards of plush velvet and an astonishing number of LCD screens.word chill showed up more than 500 years ago as a noun meaning "cold" - as in "winter's chill." In short order, it turned into a verb referring to the process of making someone or something cold and then into an adjective. (Eventually chilly became more common.) Fast-forward to 1979, when the song "Rapper's Delight" worked a variation on Ecclesiastes, explaining that "There's. . .a time to break and a time to chill/To act civilized or act real ill." That intransitive verb, meaning roughly "to relax," was expanded to chill out in 1983, according to The Oxford English Dictionary. The most recent variation in chill can be seen in the basketball player Chamique Holdsclaw's comment about her adoptive city of Los Angeles: "Everything is pretty chill."more rococo anthimerian endeavors have clear meanings, but are more or less im-parse-able. Thus a line from the novel "Afterburn," by Zane: "No matter how hoochie I tried to be, she out-hoochied me every single time." The truly terrifying thing is that one of Zane's other novels has been published in Tokyo, and if "Afterburn" follows suit, someone will have to translate that sentence into Japanese.

  • 1257. The great Britain
  • 1258. the Great Sailor

    French. The ruler of France was then the Emperor Napoleon. He wished to make himself ruler of the whole world. With his armies Napoleon made himself ruler over many lands, but he never ruled Britian. Why was this? Britian was an island, and the ships of the British navy would not let Napoleon and his In 1805 a great war was fought between the British and the armies cross the sea. The greatest of all the British sailors at this time was Horatio Nelson.

  • 1259. The Heraldic Symbolism of the Unicorn on the British Coat-of-Arms
    Иностранные языки

    The Union Jack is a fine expression of unity as well as diversity. The British flag incorporates the national symbols of three distinct countries, England, Scotland and Northern Ireland. In fact its name "Union Jack" emphasises the very nature of the United Kingdom of Great Britain and Northern Ireland as a union of nations. The flag is also known by another name, this too, emphasising the idea of union: the "Union flag", perhaps a less common term but a little more precise. The countries comprising the British Isles are not inward-looking or isolated states with an insular mentality; together they constitute a powerful union that has spanned centuries. Recent devolution that gave Scotland its own Parliament and Wales its own Assembly has also emphasised the importance of individual national identities within the union without affecting the essential unity of Great Britain. On the contrary, it has strengthened it. Recognition of, and respect for national identities are an essential ingredients for effective union. The Union Jack symbolises all this: respect for individuality within a closely knit community.

  • 1260. The History of Alaska (история Аляски)
    Иностранные языки