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We like to think that when we deposit a dollar at the bank, it goes into a big vault and we can pull out that same dollar at any time. But that¿s not how the U.S. banking system works. Banks take that money and invest it to make money themselves, so cash gets spread around. This, naturally, leads to a big risk: What happens if those investments go sour? Well, you¿d be out of luck. You can¿t get your dollar back.
The Federal Reserve doesn¿t like that scenario, so it prohibits banks from putting all the cash it has on deposit on the line. In fact, the Fed forces banks to keep a portion of their assets at the Federal Reserve itself, to make sure that some of your assets won¿t get squandered if the bank¿s bets go south. These are called ¿reserves,¿ (hence, Federal Reserve. Got it? Good), and usually amount to 10% of the total cash kept in checking accounts.
These reserves are never exactly 10%, and banks like to keep a little extra in reserve ¿ not, as you might think, to make you more comfortable that they¿re in good financial shape, but rather so they can take that excess and lend it to other banks and make money off it. (They¿re banks, they can¿t help themselves.) The rate at which they make these loans is called the Federal Funds rate, which is set by the Federal Reserve¿s Federal Open Market Committee.
When you hear people chattering about how the Fed cut or hiked interest rates, this is what they¿re talking about: the interest rate banks can charge for lending money from their reserves. This begs the question: If these are essentially loans between banks, why is the Fed Funds rate so important for the rest of the economy?
Well, simply put, because loans make the financial world go round. Bank A lends Bank B $10,000 at a Fed Funds rate of 5%. Bank B then lends out $10,000 to a small business at 7%. The small business then takes that money and expands the business and hires new workers. Now someone is employed, Bank B has made interest off the loan, and Bank A is the richer for making it all happen. It¿s perhaps overly simplistic, but you get the idea. When you want the economy to thrive, you make lending cheaper.
Of course, sometimes you don¿t want the economy to thrive. In fact, you might want it to cool down, mostly to avoid money flooding the system and causing inflation. In that case, the Fed raises interest rates, making it difficult to lend or borrow.
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Monday, August 04, 2008
Bluetooth SIG Testing Program Helps Ensure Devices Work Together
Comtex
BELLEVUE, Wash., Aug 04, 2008 /PRNewswire via COMTEX/ ----The Bluetooth Special Interest Group (SIG) today launched an enhanced version of its Bluetooth Profile Tuning Suite (PTS), the SIG's one-of-a-kind software tool that simulates multiple Bluetooth devices and profiles for interoperability testing. In preparation for an explosion of development around the upcoming Bluetooth high speed and low energy specifications, the PTS Version 3 adds test suites for seven profiles that will address new applications like health devices and streaming video, support for Windows Vista and an improved user interface. The PTS lets companies test in-house to reduce the time and cost of bringing new products to market and improves interoperability.
"The PTS has saved Bluetooth SIG member companies millions of dollars in time and expense associated with device qualification and contributed to greater interoperability between the two billion Bluetooth devices in existence today," said Michael Foley, Ph.D., executive director of the Bluetooth SIG. "With so much new development and demand, our organization has a growing challenge of making sure all possible combinations of Bluetooth devices work well together. PTS Version 3 makes that possible."
Many of the profiles supported in PTS Version 3 address new and future application arenas -- particularly streaming video, remote control, and health and fitness monitoring -- which will be made possible with the release of Bluetooth high speed technology and Bluetooth low energy technology in 2009. The new or updated profiles include:
-- Audio/video remote control profile (AVRCP 1.3) -- Video distribution profile (VDP) -- Health device profile (HDP) -- Dial-up networking (DUN) -- Phone book access profile (PBAP) -- Basic printing profile (BPP) -- SIM access profile(SAP)
Through its new support for Windows Vista and enhanced user interface, PTS Version 3 improves usability and addresses the diverse needs of the Bluetooth SIG's 11,000 members. A new architecture results in better performance and stability. Updates to the user interface give an improved overview of tests in progress and a new deployment scheme enables the Bluetooth SIG to issue hot fixes to address urgent problems. New and experienced PTS users alike benefit from new training videos instructing members on using PTS Version 3, as well as a set of hints and tips in five different languages.
PTS Version 3 is available for download today. The tool is free to Promoter and Associate members of the Bluetooth SIG and has an annual fee for Adopter members. Licenses are issued on a per company, corporate-wide basis allowing each employee of a member company to install and run the PTS on up to two computers for testing all of their Bluetooth products. Members can find the PTS Version 3 download and more information at http://www.uptilt.com/c.html?rtr=on&s=69h,10re2,aqs,llrt,ewib,1r1x,be7.
About Bluetooth(R) Wireless Technology
Bluetooth wireless technology is the global short-range wireless standard for personal connectivity of a broad range of electronic devices. The technology continues to evolve, building on its inherent strengths -- small-form factor radio, low power, low cost, built-in security, robustness, ease-of-use, and ad hoc networking abilities. More than nine new Bluetooth enabled products are qualified every working day and 18 million Bluetooth units are shipping per week. There are nearly two billion Bluetooth devices in the marketplace and that number climbs daily, making it the only proven wireless choice for developers, product manufacturers, and consumers worldwide.
About the Bluetooth SIG
The Bluetooth Special Interest Group (SIG), comprised of leaders in the telecommunications, computing, consumer electronics, automotive and network industries, is driving development of Bluetooth wireless technology and bringing it to market. The Bluetooth SIG includes Promoter group companies Ericsson, Intel, Lenovo, Microsoft, Motorola, Nokia and Toshiba, along with over 11,000 Associate and Adopter member companies. The Bluetooth SIG, Inc. headquarters are located in Bellevue, Washington, U.S.A. For more information please visit http://www.bluetooth.com.
The Bluetooth word mark and logo are registered trademarks and are owned by the Bluetooth SIG, Inc.
Press Contacts: AMERICAS Starr Million INK Public Relations for the Bluetooth SIG +1 (512) 382-8981 starr@ink-pr.com EMEA Danny Devriendt Porter Novelli for the Bluetooth SIG +32 475353465 danny.devriendt@porternovelli.be TAIWAN Jojo Chang Apex Communications Consultants Co., Ltd., for the Bluetooth SIG 886-2-7718-7777 ext. 535 jojo@apexpr.com.tw CHINA Andrew Wu Hill & Knowlton for the Bluetooth SIG (86 10) 5861 7596 andrew.wu@hillandknowlton.com.cn JAPAN Mike Litwin Inoue Public Relations for the Bluetooth SIG +81-3-5269-2301 m-litwin@inoue-pr.com KOREA Harry Yoon Strategic Marketing and Communications, Inc. for the Bluetooth SIG +82-2-3445-3232 harry@oksmc.co.kr Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Dr. Michael Foley http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=31627
SOURCE The Bluetooth Special Interest Group
http://www.bluetooth.com
Copyright (C) 2008 PR Newswire. All rights reserved
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