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Many people know that the Federal Reserve sets interest rates in order to loan money to other banks so they can keep cash flowing throughout the U.S. financial system. Mostly, this works great for everyone involved. But, sometimes, banks and thrifts need a little extra cash, mostly so they can meet the reserve requirement (the minimum amount of deposits banks need to be considered in good financial shape).
To meet the reserve, the Fed has what's known as the discount window, which allows banks to borrow money for a short period of time at a higher interest rate (called the discount rate) than the official Federal Funds rate.
It's called a window because it used to be an actual teller window, where banks would go to borrow from the federal government. Now, it's used more as a lender of last resort. In fact, banks prefer to borrow from one another than directly from the discount window, since the interest owed can be cheaper and going to the discount window tends to imply that the bank is in a spot of trouble.
The Fed, too, doesn't like banks borrowing this way, which is why the discount rate is always higher than the target rate. It also requires banks to collateralize the loans, meaning they have to turn over liquid assets, such as loans or CDs, to the Fed in order to get the money. As with any loan, the banks get the underlying collateral back when they pay off the balance.
Home / Markets / Industries / Retail
Tuesday, June 24, 2008
ZyXEL Signs Distribution Agreement with Ingram Micro Canada Expanding its Channel Presence in North America
Comtex
ANAHEIM, Calif., Jun 24, 2008 (BUSINESS WIRE) ----ZyXEL Communications, a leading provider of secure broadband networking, Internet connectivity and routing products, today announced Ingram Micro Inc. (NYSE:IM) has been appointed as Canadian distributor for ZyXEL's complete product line. The agreement expands ZyXEL's North American Channel Partner Program in which qualified resellers receive special benefits and tools to improve service to small-to-medium size (SMB) businesses, residential and institutional MxU (multi-tenant unit/multi-dwelling unit) markets.
The agreement with Ingram Micro Canada expands ZyXEL's North American ZySTAR Channel Program and complements ZyXEL's global channel program. Canadian VARs have the same benefits as their U.S. counterparts with programs providing product discounts at distribution and rebates, priority technical support, and online certification and training programs.
ZyXEL's ZySTAR Channel Program offers solution providers the tools and resources necessary to create and sell enterprise-class solutions scaled to meet the needs and budgets of the mid-market. ZyXEL's product line includes award-winning routing products, broadband networking, Internet connectivity, network security solutions, fast and gigabit Ethernet switches, wireless networking and hospitality/MDU solutions.
"As we aggressively expand our North American Channel program, we are constantly looking for opportunities to make it easier for our channel partners to do business with us," said Dana Patrick, director of North American Channels for ZyXEL. "With Ingram Micro Canada in place, Canadian VARs will have easy local access to ZyXEL's complete line of award winning networking products."
"The agreement between ZyXEL and Ingram Micro Canada allows us to bring industry-leading networking products to Canadian VARs and their customers," said Mike Gazdic, vice president of vendor management, Ingram Micro Canada. "Ingram Micro is committed to bringing on vendors that deliver value and comprehensive solutions to VARs so they can succeed in the rapidly growing services market in Canada."
"ZyXEL's comprehensive line of networking solutions allows us to 'one stop' shop instead of purchasing from a number of vendors," said Oliver Perez, president of MultiTrends ITNet Services, a solution provider that offers a variety of networking support, monitoring and security solutions. "And now, because of the agreement with Ingram Micro Canada, we can have ZyXEL products readily available. This saves our company time and money."
North American ZySTAR Channel Program
The ZySTAR Channel Program is highlighted by three tiers of participation that offer increasing levels of reseller benefits. Highlights include the ability to participate in market development fund opportunities which assist resellers in the development of targeted demand creation activities and product discounts that allow partners the ability to realize immediate margin benefits. In addition, ZyXEL has introduced focused training and certification programs that take place throughout the year.
North American VARs, solution providers and systems Integrators who are interested in more information on ZyXEL's ZySTAR Channel Program can contact ZyXEL Communications, at 714-632-0882 or partner@zyxel.com.
About ZyXEL Communications
ZyXEL Communications, Inc., with North American headquarters in Anaheim, California, is one of the world's foremost suppliers of broadband networking and Internet connectivity/routing products. With expertise in diverse technologies like security, wireless, Powerline, Ethernet, xDSL, and VoIP, ZyXEL offers integrated secure network solutions to a large target audience including small-to-medium enterprises, SOHO, residential and service provider markets. ZyXEL offers its channel partners industry-leading incentives with a full line of enterprise-class products through the North America ZySTAR Channel Program. For more information on ZyXEL Communications and its broadband solutions, visit the company's website at http://www.us.zyxel.com.
About Ingram Micro Inc.
As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services, and product aggregation and distribution. The company serves more than 150 countries and is the only global broad-based IT distributor with operations in Asia. Visit www.ingrammicro.ca.
SOURCE: ZyXEL Communications
Bock Communications, Inc. Nicole Thome, 1-714-540-1030 ZyXEL@bockpr.com
Copyright Business Wire 2008 ********************************************************************** As of Friday, 06-20-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated an UPTREND on 04-18-2008 for IM @ $16.62. 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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