What is a Master Netting Agreement and How Does it Work? [with Examples]
Conceptually, a master netting agreement is very simple. It just says that if Alice owes Bob $7 for ice cream last week and Bob owes Alice $10 for lunch yesterday, then Alice and Bob can settle both...
Bank balance sheets are filled with lies because the majority of assets on their balance sheet are usually reported at "amortized cost" rather than "fair value". When interest rates go up, the...
Will Credit Unions be Affected by Silicon Valley Bank (SVB)’s Failure?
"Even Tech CU (a Silicon Valley credit union catering to tech workers) only grew its deposits by 35.6% from the beginning of 2020 to the end of 2021. That's almost 6 times less than the deposit...
Biggest Industry Sectors in the U.S. by Revenue and Number of Businesses
Based on government census and federal reserve data, the biggest U.S. sector by revenue is wholesale trade. Wholesaler companies generated $10 Trillion in gross revenues last year which represents...
SWIFT is a telecommunications network that only banks and certain financial institutions are allowed to join (it has over 11,000 members in over 200 countries). The SWIFT network & its messaging...
You need two pieces of information to access a Venmo account. The first piece of information is a username, phone number, or email address (any of them can be used). The second piece of information...