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To mitigate malnutrition among tuberculosis burden, Government of India launched Nikshay Poshan Yojana in 2018, providing incentive of INR500 per month to each enrolled patient. Our study tried to find out the status of the scheme and its target benefits amongst the beneficiaries in a tertiary care hospital in Delhi, and also the facilitating factors and barriers towards enrolment, and their knowledge, attitude and practice towards nutrition in TB. Methods A cross-sectional study was undertaken at a tertiary care hospital involving a calculated sample of 188 patients. The subjects were interviewed on a pre-designed, semi-structured, validated questionnaire and data was analysed on SPSS v.21. Results Enrolment rate for the scheme was 81.4%, of which only 10% of the participants received any benefit. Of the 35 participants who were not enrolled or were not aware of their enrolment status, 22 were interested in enrolment. The reason for non-enrolment by the 21 participants who were not enrolled were lack of awareness, lack of time or lack of a bank account. Conclusion The study found that most of the patients attending DOTS treatment were enrolled under the scheme, but 90% were not receiving any incentive promised under it.

Does financial inclusion through opening of bank accounts catalyze economic activity? We use the case study of a large-scale financial inclusion programme in India called Pradhan Mantri Jan Dhan Yojana (PMJDY) to investigate this question. We deploy a panel cointegration and causality framework on a sub-national dataset. Firstly, we establish that financial inclusion and economic activity share a long-term link. The variables move together and are in a long-run equilibrium relationship. Secondly, we find that the relationship between financial inclusion and economic activity experiences structural breaks clustered around the month in which demonetization of Indian currency was announced. Further, our analysis of causality directions shows that in the period before demonetization, an increase in economic activity causes an increase in the use of banking. Post-demonetization, the direction of the causal relationship between economic activity and banking reverses. An increase in banking transactions now causes a positive impact on economic growth. We discuss the likely channels through which causality operates and the possible reasons for reversal in the causality direction. We contend that financial inclusion through access to savings accounts does not impact economic growth in the short-term. Access to an account does not appear to be a sufficient condition. Post account openings, policies to encourage its usage have an important role to play in improving economic activity. To encourage account usage, policy makers could explore introducing incentives for a limited number of initial transactions, develop innovative savings products based on account usage patterns, and also use tax-breaks to encourage employers to pay salaries and wages to the bank account of employees.

Information and Communication Technologies (ICTs) play a crucial role on the individuals, businesses and the citizenry in a country. Some studies on ICT access tend to concentrate on the supply side of achieving universal access in ICTs. They do not look at the household demand side and how household access to ICTs enhances bank patronage and financial services. Thus, this study makes contribution by: a) focusing on the demand side of ICT access by households and how it fosters the patronage of financial services; b) investigating some of the socioeconomic characteristics that affect households' adoption of ICTs and bank patronage in Burkina Faso and Ghana. Demographic and Health Survey data for both Burkina Faso and Ghana 2014 was used with logit regression of bank patronage on socioeconomic variables and ICT equipment. The findings, inter alia, show that socioeconomic factors influence ICT adoption and bank services demand at the household level. However, the degree differs significantly between Burkina Faso and Ghana. In essence, whereas only 15% of the surveyed households own bank account in Burkina Faso, the figure for Ghana was more than thrice with 48% of the household owning bank account. Thus, policy should be tailored towards the provision and accessibility of ICTs to households which could enhance their desire for bank patronage as they become more informed on the relevance.

Dynamic hybrid products are pension products that consist of a dynamic combination of classical with profits participating life insurance contracts (or a bank account) and fund savings plans. To put such products in an optimal utility framework, we derive an optimal combination of a money market account, a CPPI-style fund and a free fund in continuous trading via transforming the original investment problem into a conventional portfolio problem in the presence of a guarantee condition. By this, we obtain (semi-) explicit forms of the dynamic weights for the different ingredients of a dynamic hybrid product.

In recent years, wearable technology is interwoven with our everyday lives because of its commoditization and comfort. Security and privacy become a big concern as many user-sensitive data have been stored in such devices, such as personal emails and bank accounts. Traditional user authentication techniques like PIN entry are unfriendly and vulnerable to shoulder surfing attacks. To address these problems, a number of new authentication methods have been proposed. In this survey, we review and categorize recent advances in user authentication for wearable devices. We classify existing studies into physiological biometrics based and behavioral biometrics based methods. For each category, we review how signal processing techniques have been used to extract features in various wearable devices. Leveraging these extracted features, specifically designed classification methods can be used to realize user authentication. Finally, we review evaluation metrics for user authentication in wearable devices. Overall, in this survey, we systematically study assorted state-of-the-art user authentication methods for wearable devices, aiming to provide guidance and directions for future research in this area.

Marijuana-related businesses have banking problems. Many banks explain that because marijuana is illegal under federal law, they will not serve the industry. Even when marijuana-related businesses can open bank accounts, they still have trouble accepting credit cards and getting loans. Some hope to fix marijuana’s banking problems with changes to federal law. Proposals range from broad reforms removing marijuana from the list of controlled substances to narrower legislation prohibiting banking regulators from punishing banks that serve the marijuana industry. But would these proposals solve marijuana’s banking problems? In 2018, Congress legalized another variant of the Cannabis plant species—hemp. Prior to legalization, hemp-related businesses, like marijuana-related businesses, struggled with banking. Some hoped legalization would solve hemp’s banking problems. It did not. By analyzing the hemp banking experience, this Article provides three insights. First, legalization does not necessarily lead to inexpensive, widespread banking services. Second, regulatory uncertainty hampers access to banking services. When banks were unsure what state and federal law required of hemp businesses and were unclear about bank regulators’ compliance expectations for hemp-related accounts, they were less likely to serve the hemp industry. Regulatory structures that allow banks to easily identify who can operate cannabis businesses and verify whether the business is compliant with the law are more conducive to banking. Finally, even with clear law and favorable regulatory structures, the emerging cannabis industry still presents credit, market, and other risks that make some banks hesitant to lend.

Central banks around the world are examining the possibility of introducing Central Bank Digital Currency (CBDC). The public’s preferences concerning the usage of CBDC for paying and saving are important determinants of the success of CBDC. Using data from a representative panel of Dutch consumers we find that roughly half of the public would open a CBDC current account. The same holds for a CDBC savings account. Thus, we find clear potential for CBDC in the Netherlands. This suggests that consumers perceive CBDC as distinct from current and savings accounts offered by traditional banks. Intended adoption is positively related to respondents’ knowledge of CBDC and trust in banks and in the central bank. Price incentives matter as well. The amount respondents want to deposit in the CBDC savings account depends on the interest rate offered. Furthermore, intended usage of the CBDC current account is highest among people who find privacy and security important and among consumers with low trust in banks in general. These results suggest that central banks can steer consumers’ adoption of CBDC via the interest rate, by a design of CBDC that takes into account the public’s need for security and privacy, and by clear communication about what CBDC entails.

Central banks around the world are examining the possibility of introducing Central Bank Digital Currency (CBDC). The public’s preferences concerning the usage of CBDC for paying and saving are important determinants of the success of CBDC. Using data from a representative panel of Dutch consumers we find that roughly half of the public would open a CBDC current account. The same holds for a CDBC savings account. Thus, we find clear potential for CBDC in the Netherlands. This suggests that consumers perceive CBDC as distinct from current and savings accounts offered by traditional banks. Intended adoption is positively related to respondents’ knowledge of CBDC and trust in banks and in the central bank. Price incentives matter as well. The amount respondents want to deposit in the CBDC savings account depends on the interest rate offered. Furthermore, intended usage of the CBDC current account is highest among people who find privacy and security important and among consumers with low trust in banks in general. These results suggest that central banks can steer consumers’ adoption of CBDC via the interest rate, by a design of CBDC that takes into account the public’s need for security and privacy, and by clear communication about what CBDC entails.

Turkish Abstract: Bilgi cagini yasadigimiz 21. yuzyilda teknolojiye bagimli bir haldeyiz. Yasamin her alanini dijitallestiriyoruz. Bankaciliktan ticarete, habercilikten iletisime, is hayatindan sosyal hayata kadar her seyin onune “e” harfini koyar olduk. Teknolojinin yardimi ile yasamimiz ne kadar kolaylasiyor gibi gorunse de, madalyonun oteki yuzunde banka hesaplarimiza girilmesi, e-postlarimizin ele gecirilmesi, kisisel bilgilerimizin calinmasi gibi bilisim sucu olarak tabir ettigimiz istenmeyen ve bize zarar veren olaylara da maruz kalmaya basladik. Dijital dunya sinirlarimizi zorlarken sucu aydinlatabilecek bilgiyi de yine dijital ortamlardan elde etmek zorundayiz. Hal boyle olunca, dijital ortamlardan delil tespit etmek, kildan DNA tespit etmek gibi uzmanlik gerektiren bir konu oldu. Adli Bilisim (Computer / Cyber Forensic) olarak adlandirdigimiz bu uzmanlik alani artik Adli Bilimler catisi altinda ayri bir disiplin ve uzmanlik alani olarak kendini gostermeye baslamis durumda. Bu makalede adli bilisimin tum yonlerini teknik detaylara cok fazla girmeden, hukukcularin anlayacagi bir dil ile anlatmaya calisacagim. Ilk once dijital delil kavrami ve dijital delilin butunlugunu ve sagladigimiz veri ozet degeri kavramlarini anlattiktan sonra, adli bilisimin temel ilkelerine ve sureclerine detayli olarak deginecegim. English Abstract:: In the 21st century in which we live the information age, we are dependent on technology. We digitize all areas of life. We have put the letter "e" in front of everything from banking to business, from journalism to communication, from business life to social life. Although our life seems to be getting easier with the help of technology, on the other side of the coin, we have begun to be exposed to unwanted and damaging incidents such as entering our bank accounts, seizing our e-mails, theft of our personal information, which we call information crimes. While the digital world is pushing our boundaries, we have to obtain information that can illuminate the crime from digital media. As such, detecting evidence from digital media and detecting DNA from hair became a subject that requires expertise. This area of ​​expertise, which we call Computer / Cyber ​​Forensic, has now begun to manifest itself as a separate discipline and expertise under the roof of Forensic Sciences. In this article, I will try to explain all aspects of forensic informatics in a language that legal professionals can understand without going into technical details too much. After first explaining the concept of digital evidence and the integrity of digital evidence and the data digest value we provide, I will elaborate on the basic principles and processes of forensic computing.

We propose a new way of looking at transactions involving goods and money. Building on earlier work in which money is identified as a recordkeeping device or “memory”, we re-interpret the basic transaction — traditionally viewed as an exchange of goods and money — as a one-sided “gift” of goods that is recorded on a shared ledger. Money is no longer an object or “medium” that is exchanged. In fact, there is no recognizable concept of money in the theory we develop, yet all monetary phenomena, such as bank accounts and currency (tokens), remain intact and form the recordkeeping apparatus. This enables us to describe environments, which have hitherto been considered monetary, in terms of a pure credit economy. It also appears that this approach solves some common monetary puzzles.

We analyze the electoral consequences of India’s 2016 ‘demonetization’: a unique policy that unexpectedly made 86% of the currency-in-circulation redundant overnight, and led to severe cash shortages in the subsequent months. We leverage a discontinuity in the number of bank branches arising from a nationwide district-level bank expansion policy, instituted by the previous government in 2005. We first document that the impacts of the branch-expansion policy around the cut-off were meaningful: areas just above the cut-off had fewer bank branches, less outstanding credit, and households were less likely to report having bank accounts. Importantly, these effects strongly persisted in 2016, when the demonetization policy was instituted. As districts with fewer banks had greater cash shortages, we identify the impacts of demonetization at the bank-expansion cut-off. Regression discontinuity estimates show that following demonetization, places with fewer banks had lower economic activity, as measured by nighttime lights, and voters reported having less favorable views on demonetization. Using electoral data and a difference-in-discontinuity design, we find that in elections following demonetization, the ruling party did relatively worse in regions with discontinuously fewer banks, receiving a 4.7 percentage point lower fraction of votes. We finally show that voters that were historically strongly aligned with the ruling party, are nearly unresponsive in voting behavior, despite having a less favorable view of the policy itself.

We use U.S. household-level bank account data to investigate the heterogeneous effects of the pandemic on spending and savings. Households across the income distribution all cut spending from March to early April. Since mid April, spending has rebounded most rapidly for low-income households. We find large increases in liquid asset balances for households throughout the income distribution. However, lower-income households contribute disproportionately to the aggregate increase in balances, relative to their pre-pandemic shares. Taken together, our results suggest that spending declines in the initial months of the recession were primarily caused by direct effects of the pandemic, rather than resulting from labor market disruptions. The sizable growth in liquid assets we observe for low-income households suggests that stimulus and insurance programs during this period likely played an important role in limiting the effects of labor market disruptions on spending.

Who uses mobile money, and what do people do with it? This paper describes mobile money adoption patterns following the experimental introduction of mobile money for the first time in rural areas of Southern Mozambique. We use administrative and household survey data to characterize adopters as well as their mobile money usage patterns over three years. Adopters of mobile money (and early adopters in particular) are more educated than nonadopters, and they are also more likely to already hold a bank account. Positive self-selection of adopters should be considered when introducing mobile money as a tool for rapid financial inclusion.

What is the economic contribution of a cohort of new entrants? Previous research has investigated this topic but only in passing, and found conflicting results. We analyze a cohort of 6578 firms that entered in 2004, and track them for 10 years with an emphasis on size, which is measured using (deflated) sales data from the entrepreneurs’ bank account records. The overall economic contribution of the cohort decreases in the years after entry. Post-entry growth is not sufficient to offset the economic loss from high exit rates. Broadly similar results are found when disaggregating by firm size and industry.

We study the effect of culture on financial literacy by comparing secondary-school students along the German–French language border within Switzerland. We find that students in the French-speaking region have a lower level of financial literacy than students in the German-speaking region. The difference in financial literacy across the language groups is stronger for native students and monolingual students than for immigrant students and bilingual students. This supports the hypothesis that embedded cultural differences rather than unobserved heterogeneity in schooling are driving the effect. A mediation analysis suggests that the cultural divide in financial literacy is related to systematic differences in financial socialisation across the language groups. Students in the German speaking region are more likely to receive pocket money at an early age, and are more likely to have independent access to a bank account than students in the French speaking region.

We discuss the modelling of corporate bank accounts using a proprietary dataset. We thus offer a principled treatment of a genuine industrial problem. The corporate bank accounts in our study constitute spare, irregularly-spaced time series that may take both positive and negative values. We thus builds on previous models where the underlying is real-valued. We describe an intra-monthly effect identified by practitioners whereby account uncertainty is typically lowest at the beginning and end of each month and highest in the middle. However, our theory also allows for the opposite effect to occur. In-sample applications demonstrate the statistical significance of the hypothesised monthly effect. Out-of-sample forecasting applications offer a 9% improvement compared to a standard SARIMA approach.

The Positive Money proposals and the 100% reserve debates, which have almost a century of discussions and research behind them, have now gathered considerable momentum. A cursory perusal of the proposals shows that the features contemplated, with some modifications, may offer a solution for true Islamic banking that is not only free of ribā, but one that promotes the objectives of the Sharī‘ah. Further, the final design, after incorporation of the sharī‘ah rules, will satisfy the ribā provisions laid down by the earlier jurists.

The recent demonetization exercise in India is a unique monetary experiment that made 86 percent of the total currency in circulation invalid. In a country where currency in circulation constitutes 12 percent of GDP, the policy turned out to be a purely exogenous macroeconomic shock that affected all agents of the economy. This paper documents the impact of this macroeconomic shock on one such systematically important agent of the economy: the household. By construction, the policy helped households with bank accounts in disposing of the demonetized cash. We use a new household-level data set to tease out the effects of this policy on households with no bank accounts relative to households with bank accounts. Our results show that the impact of demonetization on household income and expenditure has been transient with the major impact being seen in December-2016. We find that households with no bank accounts experienced a significant decrease in both income and expenditure in December-2016. There is significant heterogeneity in the impact across households in different asset classes. We also show evidence of recovery of household finances whereby households were able to smooth out consumption during the post demonetization period. However, this recovery phase is associated with an increase in household borrowing from different sources, primarily for the purpose of consumption. In particular, informal borrowing (money lenders, shops) increased substantially during this period.

Cecilia and Luke were recently married and were beginning to build a life together. Although they were complete opposites, they had been able to work through their differences and have a good relationship.Luke was a musician who did not have a day job. Although his music was able to provide him with an income, it was not steady or reliable. Cecilia, on the other hand, had a steady job working as a marketing manager for a baby formula company. While Cecilia had never had a credit card, Luke had in the past, but had abused it through impulsive spending habits and irresponsibility in paying his bill on time. After paying exorbitant late and overdraft fees, he had finally paid off the balance in full and opted the cancel the credit card altogether. Now that Cecilia and Luke had decided it was time to build a life together financially, they began looking into different types of credit cards and bank accounts in order to decide which options would be best for them. Excerpt UVA-F-1870 May 20, 2019 Black Cards and Banking Introduction “Need a warm-up?” The scent of fresh coffee drifted over from the pot in the waitress's hand. “Sure,” said Luke, “and when you can, please bring us the check.” As the couple shared what would be their final cups of coffee in the diner, Cecilia noticed that she only had a $10 bill in her purse. “How much cash do you have? With the tip, I think we might be a bit short. I used to be a waitress, and I hate not tipping adequately.” . . .

Payment banks are the newest initiative from the Reserve Bank of India (RBI) with the first motive to promote digital, paperless and cashless banking in our nation. Its an associated approach within which different non-banking monetary organizations are granted the authority to ensure basic bank services to each Indian national. A payments bank could be a differentiated bank with the precise objective of occupation to the unbanked and underbanked. Though the Pradhan Mantri Dhan Yojana has brought down the amount of unbanked people within the country, there are still millions who don't have bank accounts. According to a World Bank report, Republic of India is home to twenty one of the world’s unbanked adults. Payments banks aim to service these customers, particularly migrant employees and people from lower financial gain households, in addition as bring them into the formal economic system. It conjointly has the additional advantage of secured, technology-driven transactions which might simply be half-track with none loop hole for black cash. The present paper provides a horizon on the attention level and usage of payment banks among the faculty going students of urban center town. For the aim of the study each primary and secondary knowledge are used. the scholars following totally different courses are created use as sample. the info collected are analyzed victimization acceptable applied math techniques. It’ll conjointly highlight the necessity for payment banks in Republic of India and its future.

We study the effect on savings of the Deposit Guarantee Scheme (DGS) reform in the Netherlands. We study savings allocation in a DGS environment and we empirically investigate how bank accounts allocations of the Dutch households changed as a response to the reform. Moreover, we highlight the indirect effect on consumption and stock market investments and the role of peers in influencing people’s financial decisions. We find evidence of bunching behavior at the insurance limit. Results indicate a general positive impact on saving amounts, with heterogeneous effects depending on relative peers’ financial sophistication: people with unsophisticated peers tend to save more as a response to the reform, while people with sophisticated peers tend to save more cautiously.

Education plays a key role for future success and has attracted massive attention. However, the emphasis has been mostly focused on school education, and family education has been largely undervalued. Using a sample of 22,242 individuals from 27 emerging countries, this paper examines how family education impacts individuals' financial decisions, and ultimately financial inclusion. We find that improvements in the quality of family education are positively related with individuals' likelihood of opening bank accounts. More importantly, such relationships are especially pronounced among the most commonly excluded groups of individuals: those living in poverty, in rural communities, and without a job.

We study health effects of financial inclusion, particularly ownership of a checking account of older minorities, with focus on Hispanics. Using data from the Health and Retirement Study from 2000 to 2012, we find that, for Hispanics, being banked has a positive effect on mental health but is not associated with effects on physical health. Mental health benefits are likely to be larger for those who face greater hurdles to access formal financial institutions. Hispanics in less well-off neighborhoods and with below-median wealth appear to experience the greatest mental-health benefits associated with ownership of a checking account.

This paper considers an optimal investment and reinsurance problem involving a defaultable security for an insurer under the mean-variance criterion in a jump-diffusion risk model. The insurer can purchase proportional reinsurance or acquire new insurance business and invest in a financial market consisting of a risk-free asset, a stock and a defaultable bond. In particular, the correlation between the insurance risk model and the financial market is also considered. From a game theoretic perspective, the extended Hamilton–Jacobi–Bellman systems of equations are established for the post-default case and the pre-default case, respectively. In both cases, closed-form expressions for the optimal time-consistent investment-reinsurance strategies and the corresponding value functions are derived. Moreover, some properties of optimal strategies, value functions and efficient frontiers are discussed either analytically or numerically.

Cash is an extremely useful social contrivance. Kenneth Rogoff, who calls for phasing-out high denomination cash over time, recently discussed two possible drawbacks of high-denomination cash: the extensive use of high-denomination cash in crime and in illicit and corrupt activities and the role cash plays in preventing deeply negative nominal interest rates imposed on bank accounts. I will argue that using cash is preferable to the alternative, which entails worse types of crimes committed in the absence of cash. Consequently, the current high-denomination cash in the U.S. should be retained.

Opening a bank account is one of the issues experienced by international students in the first month after arriving in France. Marketing researchers have studied the customer experience in the physical service sector. However, there have been scant articles respecting international student experience. Adopting qualitative interviews with the students in a French university city, the author elicits the topic of opening a bank account in France and then has them describe the details of the service encounters. In the end, the author concludes five driving factors: Convenience, time, language, security, interaction and also make a conceptual framework.

E-Payments is growing fast nowadays because of busy schedule in day to day life. Along with this, hackers and fraud persons abuse the data and money from the individual’s bank account frequently. For solving this problem we have to create the intelligent system to secure individual’s data and money. So, in the place of human, nowadays machine acts like human and also it thinks like a human. Artificial Intelligence is a technique which plays a main role in Epayments. It provides the creative way of processing the payments through electronic devices.

In a setting with low penetration of bank accounts, I randomly gave access to bank accounts with zero fees at local bank-branches to a large sample of female household heads in Nepal. The zero fees and physical proximity of the bank led to high take-up and usage rates compared to similar studies in other settings. However, impact on income, aggregate expenditures, and assets are too imprecisely estimated to draw a conclusion. I do find reallocation of expenditures across categories (e.g. more spending on education and meat and fish, and less on health and dowries), and higher ability to cope with shocks. On qualitative outcomes, I find households report that their overall financial situation has improved. The lack of a clear story on mechanisms, yet strong result on aggregate self-perception of financial wellbeing, is consistent with access to quality savings accounts leading to household improvements via multiple mechanisms.

Women empowerment is one of the most important that has been discussed in developing countries. In this paper, an attempt is made to explore the determinants that have an influence on women empowerment in Pakistan. Sample consisted on 200 female respondents from two renowned universities in Lahore. The empirical results showed that the content of education, economic participation of women, poverty and economic opportunity available for women increases their empowerment. In this study, apart from conventional variables, a variable, Women having a bank account was also tested which showed a extreme significant positive impact on women empowerment. This supports the economic opportunity available to the woman increases their power. Finally, it is concluded that these significant factors influences empowerment of women, so one can focus on these determinants to increase and enhance women's role in our society.

This paper analyzes the optimal proportional reinsurance and investment problem for an insurer in a defaultable market. We assume that the reinsurance premium is calculated via the exponential premium principle. The insurer can allocate his/her wealth among the following securities: a bank account, a risky stock asset and a corporate bond. We decompose the original optimization problem into two sub-problems: a pre-default case and a post-default case. The optimal reinsurance and investment policies that maximize the expected CARA utility of the terminal wealth are explicitly derived. Numerical examples are given to illustrate our results, and we discuss relevant economic insights obtained from these results.

We study the effect of culture on financial literacy by comparing secondary-school students along the German-French language border within Switzerland. We find that students in the French-speaking area have a lower level of financial literacy than students in the German-speaking area. The difference in financial literacy across the language groups is stronger among native students than among Immigrant students. A mediation analysis suggests that the cultural divide in financial literacy is mainly related to systematic differences in financial socialisation across the language groups. Students in the German speaking region are more likely to receive pocket money at an early age and are more likely to have independent access to a bank account.

Portuguese Abstract: Neste trabalho serao tratados os aspectos relativos ao imposto sobre operacoes financeiras (“IOF”) no contexto de contratos de conta corrente firmados entre empresas do mesmo grupo economico. Sera avaliada a legislacao vigente, bem as decisoes das autoridades fiscais e tribunais judiciais e administrativos a respeito deste tema. Por fim, serao analisados os projetos de lei atualmente existentes e serao apresentadas as conclusoes com base em todos estes elementos considerados. English Abstract: In this study, it will be analyzed the aspects related to the Tax on Financial Transactions (“IOF”) in the context of cash pooling agreements signed between companies of the same economic group. It will be evaluated the current legislation, as well the decisions issued by the federal tax authorities, administrative courts and judicial courts regarding this matter. Finally, it will be evaluated the currently existing law projects and it will be presented the conclusions according to the elements considered.

For decades the Swiss banking secrecy has made it a criminal act for banks in Switzerland to reveal information about their customers' identities. As of 2018, Switzerland will exchange banking information on foreign bank customers with the respective home countries on an automatic basis. This event study estimates the abnormal returns in the stock prices of Swiss banks around important milestones toward the automatic exchange of information. There is no evidence of significant or sizeable decreases in the market value of Swiss banks due to the new tax transparency. The minimum detectable effect sizes are moderate and suggest a high statistical power. The null results stand in reasonable contrast to a significant increase in the level of tax compliance among the owners of Swiss bank accounts.

In the course of the first five months of 2017, people tended to save in cash, bonds and in their bank accounts. One of the reasons could be retail lending growth, which increased households access to financial resources and resulted in larger assets savings.

Growth of non-cash monies has been sustained in the main by that of individual ruble-denominated bank deposits. The deposits and monies kept on their bank accounts by organizations have been growing at a slower pace, thus corresponding to the movement of their turnover in nominal terms. At the same time, the relative share of term deposits in the total amount of organizations’ funds held in the banking system has been shrinking. This may be a sign of reviving interest in investing in real production.

The present paper analyzes the optimal investment strategy in a corporate (defaultable) bond, a stock and a bank account in a continuous time model. We model the corporate bond price through a reduced-form approach and solve the dynamics of its price. The optimal investment process will be worked out first with a general risk-averse utility function, and then an optimal strategy with CARA utility will be presented using martingale methods. The optimal investment strategy is analyzed numerically for the CARA utility.

This paper analyzes consumer inattention in the market of checking accounts. I examine the behavior of consumers who keep account tariffs that are dominated, i.e. that charge higher costs for any amount of bank services consumed through the account, by tariffs available at the same bank and introduced after the account was opened. I show that the probability of observing an inattentive consumer decreases with the dispersion of prices across tariffs of her bank. Moreover, consumers using services with the most dispersed prices across tariffs of their bank are less likely to be inattentive, while consumers using only services with the least dispersed prices are more likely to be inattentive. These results are consistent with decision-theoretic models in which consumers focus their attention on attributes which differ more across options and can be useful to improve consumer choice in this market.

We examine the influence that geographic proximity to bank branches and (nonbank) alternative financial services providers has on use of financial transaction services among U.S. households. We specify a bivariate probit model of bank account ownership and use of nonbank transaction products to reflect the joint nature of these choices, and estimate the model on a large, nationally representative dataset. Our results indicate that households with reasonable geographic access to bank branches are more likely to have a bank account and less likely to use nonbank transaction products. Although the influence of bank and nonbank provider locations is fairly modest overall, effects are bigger for certain subgroups more likely to be on the margin of bank account ownership. However, even among such households, the effects of bank and nonbank provider locations on financial transaction services use are not as large as those associated with key household-level attributes, such as income, education, or race.

The household saving is a decision which is taken by the people to postpone their consumption of current income. Savings can be considered as one of the crucial tools which households utilized to accomplish their financial expectations in order to improve their financial wellbeing. There are many ways of accumulating or investing money, which can be identified as the deposits in bank accounts or building society accounts to saving in pensions, save in credit unions, invest in the stock market and many other saving sources. This study is an inspection of saving motives of Sri Lankan household in present economic situation. Briefly it can be explained, the harvest of the research will provide the answer to the question of what is the most significantly affected saving motive which stimulate/ encourage people to save money? And it will be further declared how do these saving motives vary when household characteristics differ? As a conclusion it can be stated that this study is seeking answers for why do people save money in a broader sense (Research Problem). And the answer for, of what is the most significantly affected saving motive to stimulate people, for savings? The main purpose of this paper is to examine the most significant savings motive among households in Kalutara District. Data were collected through questionnaires by using hundred respondents. The factor analysis is explored to examine, what is the most significant savings motive among pre-determined savings motives of bequest, precautionary and life cycle using SPSS 17. It has been identified the most significant savings motive of households in Kalutara district is the precautionary savings motive.

Tests using American data from 1970 to 2015 support the behavioral hypothesis that firms Cater to investor whims. We show that the standard tests cannot distinguish between the behavioral interpretation, and a rational model in which the firm optimally chooses investment, equity issuance, and dividends; while investors optimally choose consumption, equity, and bank account deposits. The rational model shows the importance of two-way financial flows between investors and firms that are generally ignored in the literature. Using booms, sentiment, and behavioral mispricing measures, we construct new tests of behavioral Catering Theory. In all cases that theory is rejected.

Recently, massive bank exits have begun to be observed around the world. What is the effect of such bank behavior on the market power of the remaining banks and on competition between rivals? Do financial crises change this relationship? We test these questions on a sample of 226 foreign banks’ withdrawals, which occurred between 1996 and 2014 in 54 countries. We find that the impact of bank exits on the market power of other banks is non-linear, shaped like a U-curve. Moreover, we document that the largest increase in market power is when a divested bank accounts for around 10% of market share. After this threshold, the effect diminishes and even has a negative sign. In addition, we find that banking market power significantly increases during financial crises; however, in normal times, banks participate in a horserace.

Criminal analysis is a complex process involving information gathered from different sources, mainly of quantitative character, such as billings or bank account transactions, but also of qualitative character such as eyewitnesses' testimonies. Due to the massive nature of this information, operational or investigation activities can be vastly improved when supported by dedicated techniques and tools. The system supporting the police analyst in the process of detecting money laundering is presented in this paper. The main parts of the system are data importer and analyzing algorithms, such as transaction mining algorithm and frequent pattern mining algorithms. The results obtained with the use of these algorithms can be visualized, so that they can be easily explored by the police analyst. The transactions found can be treated as suspected operations. The frequent patterns found are mainly used to identify the roles of suspected entities. For the transaction mining algorithm a performance study is also presented.

The persistence of left-handers in every human population studied to date is an evolutionary puzzle in light of evidence of survival costs associated with left-handedness. Associations between left-handedness and socioeconomic advantages have been observed in Western countries and could provide left-handers fitness benefits through higher survival chances and greater reproductive success. We aimed to explore the generality of this result in another culture. For this purpose, we investigated several socioeconomic status indicators and the number of children alive for 917 men and women in Uzbekistan and compared results for two different measures of handedness: hand preferences for writing and for knife use. Among both men and women, left-handed writers were significantly more likely to own a car, own a washing machine and have a bank account. Left-handed women (using both measures) had a higher income than right-handed women. Among men, left-handers for knife use had a higher income than right-handers. The results of our study suggest that the previously observed socioeconomic advantage of left-handers in Western populations also applies to non-Western populations, at least in the urban environment studied. However, we did not detect any difference in the number of children. We discussed how the frequency-dependent socioeconomic status advantage could be responsible for the persistence of left-handers throughout human evolution.

This paper describes research in the use of the Security and Trust Services API for J2ME (SATSA) to develop mobile applications. for 3G networks. SATSA defines a set of APIs that allows J2ME applications to communicate with and access functionality, secure storage and cryptographic operations provided by security elements such as smart cards and Wireless Identification Modules (WIM). A Java Card application could also work as an authentication module in a J2ME-based e-bank application. The e-bank application would allow its users to access their bank accounts using their cell phones.

In Finland, 9% of the families with children are blended families. Though both the absolute number and the proportion of blended families is increasing throughout Europe, there is still little research information available on how they manage their finances. Blended families are an interesting group to study because their money management is clearly more complex than that of traditional nuclear families. In this paper I examine the extent of the differences between blended and nuclear families in money management, with special reference to bank accounts and the conducting of payments. I also seek to identify factors explaining the differences discovered. The research data comes from an Internet survey conducted in November 2006, which yielded answers from 469 Finnish families with children. The results, confirming earlier findings, suggested that money management is more separated in blended families than in nuclear ones. In nuclear families, both the bank accounts and the paying of expenditures are consistently managed jointly, whereas the spouses in blended families prefer separate bank accounts and display several different practices in the paying of common expenditures. In nuclear families the adults pay the expenditures together, but in blended ones they are responsible for the expenditures of their own biological children.

We use data from the U.S. Survey of Consumer Finances and a framework that accounts for intrahousehold dynamics to examine bank account ownership for low-income couples. We find that even among families who are banked, some family members are not. Those without accounts may lack access to financial services, be at a disadvantage within their families, or face financial risks if their partnerships end. Our results indicate that men and women are equally likely to be banked, but the factors predicting whether or not they have accounts differ. Women with more bargaining power are more likely to hold bank accounts and their families are more likely to be banked. Moreover, individual characteristics of male and the female partners have different effects on the chances that they, their partners, or their families are banked.

We investigate the interdependence between being unbanked and the decision to remit. Using data from our survey of the low-to-moderate-income (LMI) Hispanic community in a major U.S. metropolitan area, we find that higher income, more education, and greater proficiency in English decrease the probability of being unbanked. A key result is the positive correlation between latent factors that affect the decisions to remit money and to be unbanked. The presence of both institutional and self-selection factors in the decision to not open a bank account sheds light on the kind of policies that need to be implemented to bring the unbanked into the financial mainstream.