It will favour steady financial activity over high-risk speculation and steer the financial sector towards the real economy.
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Britain's economy will also take a hit as the City suffers from the slowdown in international financial activity.
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The real issue therefore is the quality of the financial activity, not number.
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In the past two decades, the City has thrived on the back of booming world stockmarkets and international financial activity.
Not only will their economies grow fast but financial activity will become more intense, allowing banks to grow faster than GDP.
At the world's big banks, compliance officers are already trying to apply what they have learned from years of watching for drug-related financial activity and money-laundering.
"First, a lot of financial activity that historically had come to the U.S. isn't coming here anymore, " he adds, noting the increasing importance of emerging markets such as India.
"Persons intent on illegally evading U.S. taxes may be more likely to carry out financial activity in jurisdictions with no direct taxes, such as the Cayman Islands, " the report says.
And international financial activity will remain sluggish for some time because multinationals are not, in general, indulging in the global empire-building that gave the City so much work in the good times.
It would be very strange indeed to try and do straight or static scoring on this tax for part of the aim of the tax is actually to reduce financial activity.
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So far, however, there is little evidence that these various regulators, each concerned with a different type of financial activity, have learnt to collaborate effectively in overseeing gigantic companies with global reach.
As discussed earlier, the recession that we believe is now starting in the U.S. will spread globally in about six months as U.S. imports weaken and the global credit crunch curbs financial activity worldwide.
Yet again taxation discourages financial activity.
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While most of the financial activity that now takes place on smartphones involves people engaging in transactions with their bank, the credit-card industry has spent millions of dollars to issue new plastic with the contact-less chip that speeds the check-out process.
This involves direct military action, but also intelligence, law enforcement and financial regulatory activity.
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Friday's financial market activity reduced the chance of a rate increase at 24%, from 91% a week ago, according to Lehman's models.
Grantees shall submit financial and activity reports every three months to the Administrator detailing costs and expenditures, fiscal summary, names of funded staff persons, requested revisions, reallocations and adjustments, clients served, services provided, and revisions, if any, of time-tables and activities to reflect the current program status and future activity.
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Financial services sector activity expanded but there was a decline in travel, tourism and leisure for the third month.
Aside from the moral implications, there are potential financial consequences of proliferation activity -- such as the possible imposition of trade and financial sanctions -- which could negatively impact investors.
"The United States will take strong measures to protect its financial system from this kind of illicit activity, and we urge financial institutions around the world to be particularly wary of the risks of doing business with FTB, " he said.
At least, in the financial sector, business activity is so volatile that managements are cagey enough not to give detailed quarterly or annual forecasts.
These companies are especially attractive given inefficiencies created by recent market volatility and reduced sell side research coverage in the wake of financial services industry merger activity.
All sorts of other surveys, covering everything from spending in shops, activity in financial services through to construction work, point to Scotland doing rather well just now.
Restarting economic activity with financial services, agricultural support, and more.
"Like earthquake victims afraid to enter buildings again, investors fear another upheaval in the financial markets and economic activity akin to an aftershock, " observed economist Steven Wieting of Citigroup.
"Such conduct of monetary policy will support the positive movements in economic activity and financial markets, contribute to a rise in inflation expectations, and lead Japan's economy to overcome deflation that has lasted for nearly 15 years, " the bank said in its policy statement.
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Tighter monetary policy would then have made an adverse feedback loop more likely: The greater uncertainty about asset values would raise credit spreads, causing economic activity to contract further, thereby creating more uncertainty, making the financial crisis worse, causing the economic activity to contract further, and so on.
Of course, the impact of the financial reforms will be weakened to the extent that new regulations divert activity to unregulated parts of the financial system.
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Rather than bringing criminal charges based on a specific underlying transaction in which a bank or other financial institution failed to file a Currency Transaction Report or Suspicious Activity Report, federal prosecutors are charging financial institutions with an overall failure to maintain an effective program to prevent money laundering.
The number of new private-equity deals has plunged with the financial crisis, and nobody expects activity to pick up again soon.
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