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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.
Home / Markets / Industries / Energy
Wednesday, July 16, 2008
Research and Markets: EOG Resources, Inc. Pipeline Operation Asset Summary Report Available Now
Comtex
DUBLIN, Ireland, Jul 16, 2008 (BUSINESS WIRE) ----Research and Markets (http://www.researchandmarkets.com/research/c5f111/eog_resources_inc) has announced the addition of the "EOG Resources, Inc. Pipeline Operation Asset Summary Report" report to their offering.
EOG Resources, Inc. Pipeline Operation Asset Summary Report
Summary
EOG Resources, Inc. Pipeline Operation Assets Summary Report is an essential source for company data and information. The report examines EOG Resources, Inc.'s key business structure and operations, history and products, and provides summary analysis of its key revenue lines and strategy. It provides a unique insight into the company's major pipelines.
Scope
- Provides all the crucial company information required for business and competitor intelligence needs.
- Details the company's pipelines internationally.
- Data is supplemented with details on the company's history, key executives, business description, locations and subsidiaries as well as a list of products and services and the latest available company statement.
Reasons to Buy
- Obtain up to date company information.
- Understand and respond to your competitors' business structure, strategy and prospects.
- Assess your competitor's pipelines
- Support sales activities by understanding your customers' businesses better.
- Qualify prospective partners and suppliers.
Key Topics Covered:
- Company Snapshot
- EOG Resources, Inc. Pipeline Operation
- Business Description
- History
- Competitors
- Key Employees
- Key Employee Biographies
- Company Statement
- Locations And Subsidiaries
- Recent Developments
- Appendix
Companies Mentioned:
The following companies are the major competitors of EOG Resources, Inc.:
El Paso Corporation
Nexen Inc.
Petroleum Company of Trinidad and Tobago Limited
The National Gas Company of Trinidad and Tobago Li
Tullow Oil plc
XTO Energy Inc.
Nabors Industries, Ltd.
For more information visit http://www.researchandmarkets.com/research/c5f111/eog_resources_inc
Source: Global Markets Direct
SOURCE: Research and Markets Ltd.
Research and Markets Laura Wood Senior Manager Fax from USA: 646-607-1907 Fax from rest of the world: +353-1-481-1716 press@researchandmarkets.com
Copyright Business Wire 2008 ********************************************************************** As of Saturday, 07-12-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 07-03-2008 for EOG @ $122.87. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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