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THE GLOBAL INSTITUTE OF FINANCE AND BANKING

(Please note: The Global Institute of Finance and Banking (TGIF) closed effective December 2007. After its closing, a TGIF offical reported that all student records were inadvertently purged. We encourage college officials to work with former students of TGIF in assessing their prior learning using other assessment procedures.)

Organization Directory Page

• Organization description

• Source of official student records

• Titles of evaluated learning experiences

• Descriptions and credit recommendations

The Global Institute of Finance and Banking (formerly The American Institute of Banking of Greater New York) provides academic and professional courses and programs for an adult population composed of employees of approximately 300 banking institutions in the New York City metropolitan area and in Nassau, Suffolk, and Westchester counties. Day and evening instruction is provided in contemporary areas of banking activity.

The courses listed below constitute the Region’s School of Banking Program which combines academic and technical banking curricula frequently not duplicated in collegiate or vocational institutions. Four specialized areas of study designed for those seeking broad professional banking career development are offered: Commercial Financial Services, Personal Financial Services, International Banking, and Operations Supervision. Courses are taught in The Global Institute of Finance and Banking (TGIF) classrooms located at 80 Maiden Lane in New York City, and in facilities provided by banks in the city and in Nassau, Suffolk, and Westchester counties.

Source of official student records: The Global Institute of Banking inadvertently purged all student records following its closure in December 2007. See Note above.

Descriptions and credit recommendations

Accounting Principles I (32)
(Formerly Accounting Principles)
Location: Various area bank and college facilities.
Length: Version 3: 60 hours (15 or 30 weeks). Version 4: 45 hours (14 weeks). Version 5: 60 hours (14 weeks).
Dates: Version 3: September 1987 - December 1991. Version 4: January 1992 - August 1995. Version 5: September 1995 - December 2007.*
Objectives: Version 3, 4, or 5: Process accounting data (including partnership accounting) through the accounting cycle, including accruals/deferrals, adjusting/closing procedures, and the preparation of financial statements; prepare payrolls; prepare depreciation schedules; do costing and control of inventory.
Instruction: Version 3, 4, or 5: Generally accepted accounting concepts and principles; accounting statements; the ledger; the journal bookkeeping techniques; adjustments; the worksheet; accounting for merchandising concerns; special journals; accounting for cash; accounting for notes and accounts receivable; inventories and cost of goods statements; plant and equipment depreciation; current and long-term liabilities; payroll; partnership accounting. (Prerequisite: Mathematics for Business (30).)
Credit recommendation: Version 3: In the lower division baccalaureate/associate degree category, 4 semester hours in Accounting (1/87 revalidation). Version 4: In the lower division baccalaureate/associate degree category, 3 semester hours in Accounting (9/92 revalidation) (11/93 revalidation) (3/95 revalidation). Version 5: In the lower division baccalaureate/associate degree category, 4 semester hours in Accounting (11/95 revalidation) (5/00 revalidation). *NOTE: Versions 1 and 2 of this course, dating from September 1963 to August 1987, have been recommended for college credit. Please refer to the 1992 edition of this Directory for further information.

Accounting Principles II (33)
Location: Various area bank and college facilities.
Length: Version 2: 60 hours (15 weeks). Version 3: 45 hours (14 weeks). Version 4: 60 hours (14 weeks).
Dates: Version 2: September 1987 - December 1991. Version 3: January 1992 - August 1995. Version 4: September 1995 - December 2007.*
Objectives: Version 2 or 3: Analyze financial statements and other financial data with emphasis on liquidity and profitability; complete the accounting cycle for a manufacturing concern; record transactions involving stocks and bonds; apply managerial accounting concepts and practices to decision-making. Version 4: Same as Version 2 or 3; in addition, develop and analyze a budgeting system for a firm.
Instruction: Version 2: This continues the instruction of Accounting Principles I (32). Topics covered include corporation accounting including stockholders equity, stock, retained earnings, dividends, consolidated balance sheets and investments; financial statements: interpretation, modifications, analysis; understanding price level changes; department accounting; manufacturing accounting; cost accounting; review of the budget; capital management; related tax concepts. (Prerequisite: Accounting Principles I (32).) Version 3 or 4: This continues the instruction of Accounting Principles I (32). Topics covered include corporation accounting including stockholders equity, stocks, bonds, retained earnings, dividends, consolidated balance sheets and investments; responsibility center accounting; financial statements: interpretation, modifications, analysis; department accounting; manufacturing accounting; cost accounting; statement of cash flow; review of the budget; introduction to managerial accounting concepts and practices; cost-volume-profit analysis; responsibility accounting; segmental analysis; capital investment analyses. (Prerequisite: Accounting Principles I (32).)
Credit recommendation: Version 2: In the lower division baccalaureate/associate degree category, 4 semester hours in Accounting (1/87 revalidation). Version 3: In the lower division baccalaureate/associate degree category, 3 semester hours in Accounting (9/92 revalidation) (11/93 revalidation) (3/95 revalidation). Version 4: In the lower division baccalaureate/associate degree category, 4 semester hours in Accounting (11/95 revalidation) (5/00 revalidation). *NOTE: Version 1 of this course, dating from September 1981 to August 1987, has been recommended for college credit. Please refer to the 1992 edition of this Directory for further information.

Bank Internal Control and Audit (98)
(Formerly Bank Audit and Internal Controls)
Location: Various area bank and college facilities.
Length: Version 3 or 4: 45 hours (14 weeks).
Dates: Version 3: September 1987 - August 1993 Version 4: September 1993 - December 2007.*
Objectives: Version 3 or 4: Discuss basic internal control concepts and related audit considerations in the banking industry.
Instruction: Version 3: The basic dynamics and complexities of the auditing function; nature of control and audit functions with emphasis on the purpose and value of control with regard to overall bank objectives; need for control and industry standards for measuring control effectiveness; evaluating the adequacy of controls and control objectives for functional areas of the business; auditing information systems and specific applications, such as ATMs and check processing. (Prerequisite: Principles of Banking or equivalent preparation.) Version 4: Same as Version 3; except prerequisite is Accounting Principles I (32).
Credit recommendation: Version 3 or 4: In the lower division baccalaureate/associate degree category, 3 semester hours as an elective in Business Administration (1/87 revalidation) (9/92 revalidation) (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). NOTE: This course does not fulfill the requirement of Auditing in an Accounting curriculum. *NOTE: Versions 1 and 2 of this course, dating from September 1963 to August 1987, have been recommended for college credit. Please refer to the 1992 edition of this Directory for further information.

Bank Payment Systems (19)
Location: Various area bank and college facilities.
Length: 45 hours (14 weeks).
Dates: September 1993 - May 2008.
Objectives: Discuss the U.S. payments mechanism, the changing nature and composition of deposits, the role of the nation’s depositories, and the changing legal and regulatory environment in which banks operate; discuss the check collection process, the rules and practices that govern banks’ activities in effecting paper payments, and the risks banks incur in processing checks; discuss the range of cash management services banks offer; discuss the future direction of banking and why banks need to increase their productivity to remain competitive and profitable.
Instruction: The nation’s payment patterns; comparison of U.S. banking system to those of other developed countries; the Federal Reserve; electronic funds transfer services and products; payment accounts; types of depository institutions; the evolution of thrift institutions; regulatory structure affecting deposits; paper payments; check collection process; the impact of check float; future paper payment systems; electronic payments; retail EFT systems; interbank wire transfers; risk control; deposit creation; the impact of the Federal Reserve; Uniform Commercial Code; deposit management; sources and uses of bank funds; controlling assets; controlling liabilities; funds management strategies; cash management services; bank holding companies; the evolving banking system. (Prerequisite: Principles of Banking (12).)
Credit recommendation: In the lower division baccalaureate/associate degree category, 3 semester hours as an elective in Banking or Economics (11/93) (3/95 revalidation) (5/00 revalidation).

Business Writing (2)
Location: Various area bank and college facilities.
Length: Version 3 or 4: 45 hours (14 weeks).
Dates: Version 3: September 1987 - August 1993. Version 4: September 1993 - May 2008.*
Objectives: Version 3: Apply principles and techniques of effective written communication to various situations in a business environment. Version 4: Utilize the planning process; adapt language to specific readers; employ good strategies for positive, negative, or persuasive messages; use sentence and paragraph structure effectively; present ideas positively; edit and proofread carefully.
Instruction: Version 3: Importance of written communication; language and its effect on the audience; planning the business letter/memo; letter/memo formats and styles; letters of refusal;
credit refusals; sales letters; collection letters; interoffice memos. Version 4: Course participants are required to complete various forms of correspondence, such as a short report, two memoranda, a resume and letter of application, an inquiry letter, a response letter, a persuasive letter, a bad news letter, and a three letter collection series. Topics covered in the lecture include: The writing process; adaptation of words; sentence design, unity, and clarity; paragraph design; conversational style; the role of emphasis; coherence; letters: routine inquiries, inquiries about people, claim letters, order letters, favorable responses, order acknowledgments, refused requests, and persuasive requests; report writing; determining the purpose and factors; interpreting the findings; organizing the data; report format and styles; wording of outline; characteristics of shorter reports; preparing memoranda; content of memos; letters versus memos; early and middle stage collection letters; last resort letters; job application letters; resumes.
Credit recommendation: Version 3 or 4: In the lower division baccalaureate/associate degree category, 3 semester hours in Business Communications (1/87 revalidation) (9/92 revalidation) (11/93 revalidation) (3/95 revalidation) (4/00 revalidation). *NOTE: Versions 1 and 2 of this course, dating from September 1972 to August 1987, have been recommended for college credit. Please refer to the 1992 edition of this Directory for further information.

Commercial Lending Fundamentals (83)
(Formerly Commercial Lending)
Location: Various area bank and college facilities.
Length: 45 hours (14 weeks).
Dates: September 1995 - December 2007.
Objectives: Explain the role of commercial lending in the banking environment; discuss the techniques of the loan interview and credit investigation; define the role and purpose of financial analysis in the commercial lending process; analyze and interpret a balance sheet, income statement and cash flow statement; identify and describe the factors in loan negotiation and structuring; identify warning signs of problem loans and describe ways to prevent them; explain the importance and techniques of loan monitoring.
Instruction: The loan officer and the commercial lending environment; banks and the commercial lending business; the commercial client; loan interviewing and credit investigation; introduction to financial analysis; income statement and balance sheet analysis; ratio and cash flow analysis; loan structuring; loan negotiation; loan documentation and closing; problem loans and loan monitoring. (Prerequisites: Principles of Banking I and Accounting Principles I.)
Credit recommendation: In the lower division baccalaureate/associate degree category, 3 semester hours as Commercial Lending in Finance (11/95) (5/00 revalidation).

Consumer Credit: Principles and Practices (85)
(Formerly Consumer Credit: Behavior and Practice) (Overview of Consumer Credit Principles and Practices)
Location: Various area bank and college facilities.
Length: Version 2 or 3: 45 hours (14 weeks).
Dates: Version 2: September 1987 - August 1993. Version 3: September 1993 - December 2007.*
Objectives: Version 2: Explain the role of consumer lending in the banking industry and the economy as a whole; define key terms and concepts of consumer lending; analyze a consumer loan application and make a credit recommendation. Version 3: Identify components of the consumer installment credit market; describe various loan products; delineate the lending process; explain the underlying principles supporting credit math applications; recognize variables that affect loan structure; identify opportunities for cross-selling bank products; analyze a consumer loan application and describe the elements of a credit decision.
Instruction: Version 2: Banking law; consumer credit regulations; consumer credit products and services; consumer credit administration; credit risk evaluation; credit investigation; loan closing and documentation; loan interview; servicing and collection; compliance methods; portfolio management. (Prerequisites: Principles of Banking and Accounting Principles I or equivalent preparation.) Version 3: Consumer credit regulations; consumer credit products and services; credit risk evaluation; credit investigation; loan closing and documentation; loan interview; servicing and collection; compliance methods; portfolio of loans. (Prerequisite: Principles of Banking (12) or equivalent preparation.)
Credit recommendations: Version 2: In the upper division baccalaureate degree category, 3 semester hours in Finance (1/87 revalidation). Version 3: In the lower division baccalaureate/associate degree category, 3 semester hours as an elective in Finance (9/92 revalidation) (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). *NOTE: Version 1 of this course, dating from September 1981 to August 1987, and an earlier course entitled Consumer Credit, dating from September 1963 to July 1981, have been recommended for college credit. Please refer to the 1992 edition of this Directory for further information.

Corporate Finance (76)
Location: Various bank and college facilities.
Length: 45 hours (14 weeks).
Dates: September 1997 - December 2007.*
Objectives: Discuss how value and wealth are created; discuss principles and processes of debt and equity financing; discuss and calculate an opportunity cost of capital; discuss the concept of market efficiency and its relationship to company valuation; describe the dividend policy of a company; describe the process of financial planning, asset management, and capital budgeting.
Instruction: The firm and the financial manager; accounting and finance; the time value of money; bonds and inflation; how common stocks are valued; investment criteria; discounted cash-flow analysis; project analysis; introduction to risk and the opportunity cost of capital; risk, return, and capital budgeting; the cost of capital; corporate financing and market efficiency; corporate financing; how corporations issue securities; debt policy; dividend policy; financial statement analysis; financial planning; short-term planning; cash and inventory management; credit management and bankruptcy. (Prerequisite: Accounting Principles II.)
Credit recommendation: In the lower division baccalaureate/ associate degree category or in the upper division baccalaureate degree category, 3 semester hours in Finance (6/98) (5/03) revalidation.*NOTE: Earlier versions of this course, dating from September 1963 to August 1992, have been recommended for college credit. Please refer to the 1992 and 1998 editions for further information.

Economic Principles (70)
Location: Various area bank and college facilities.
Length: Version 3 or 4: 45 hours (14 weeks).
Dates: Version 3: September 1987 - August 1993. Version 4: September 1993 - December 2007.*
Objectives: Version 3: Define and explain key terms and concepts of macroeconomics. Version 4: Explain basic microeconomic and macroeconomic principles; define key terms and concepts.
Instruction: Version 3: Survey of basic concepts of economics, with emphasis on macroeconomic theory; market concepts (demand, supply, equilibrium, pricing); major economic problems (unemployment, inflation, technological change, and the business cycle); measurement of economic inputs and outputs; money and economic growth; money and the banking system; the Federal Reserve System; money and taxation; international trade and finance. Version 4: Same as Version 3; except that emphasis is on both microeconomic and macroeconomic theory. (Prerequisite: English Composition.)
Credit recommendation: Version 3: In the lower division baccalaureate/associate degree category, 3 semester hours in Economics (1/87 revalidation). Version 4: In the lower division baccalaureate/associate degree category, 3 semester hours as Economics Principles (9/92 revalidation) (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). *NOTE: Versions 1 and 2 of this course, dating from September 1963 to August 1987, have been recommended for college credit. Please refer to the 1992 edition of this Directory for further information.

English Composition (1)
Dates: Version 2: September 1981 - December 1989. Version 3: January 1990 - June 1995.*
Credit recommendation: Version 2 or 3: In the lower division baccalaureate/associate degree category, 3 semester hours in English (5/81) (1/90 revalidation). *NOTE: An earlier version of this course, dating from September 1963 to August 1981, has been recommended for credit. Please consult the 1990 edition of the Directory for further information. NOTE: Complete information on this course can be found in the 2000 edition.

Financial Statement Analysis (82)
(Formerly Analyzing Financial Statements; and Credit and Financial Statement Analysis)
Location: Various area bank and college facilities.
Length: Version 2 or 3: 45 hours (14 weeks).
Dates: Version 2: September 1987 - August 1993. Version 3: September 1993 - December 2007.*
Objectives: Version 2: Prepare a financial statement analysis to determine the credit risk of a commercial loan. Version 3: Relate how a company’s type of business, legal structure, size, and management and financial strategies affect the way a lender conducts financial analysis; analyze income statements, balance sheets, and statement of cash flows; calculate key financial ratios and use them to compare a company’s performance with that of the company’s industry; use analytical techniques: sensitivity analysis, break-even analysis, operating leverage, and funds flow analysis; discuss and use the concept of Return on Investment (ROI).
Instruction: Version 2: Sources of commercial credit information; analysis of risk in commercial lending; analysis of the income statement, balance sheet and funds flow statement; interpretation of ratios, pro forma statements, cash budget, investment, sensitivity and break‑even analyses; tests used in appraising the financial statements of various industries as a basis for credit. (Prerequisite: Accounting Principles II (33).) Version 3: Objectives of financial statement analysis; financial statement analysis and accounting; accounting objectives; conventions and standards; tools and techniques of financial statement analysis; statement of cash flows; analysis of short-term liquidity; funds flow analysis; analysis of capital structure; analysis of return on investment and of asset utilization; analysis of results of operations; evaluation and projection of earnings; comprehensive analysis of financial statements. (Prerequisite: Accounting Principles II (33).)
Credit recommendation: Version 2 or 3: In the lower division baccalaureate/associate degree category, 3 semester hours as Financial Statement Analysis in Banking or Finance, or as an elective in Business Administration (1/87 revalidation) (9/92 revalidation) (11/93 revalidation) (3/95 revalidation) (11/95 revalidation) (5/00 revalidation). *NOTE: Version 1 of this course, dating from September 1981 to August 1987, has been recommended for college credit. Please refer to the 1992 edition of this Directory for further information.

Financing International Trade (53)
Dates: September 1981 - June 1990.
Credit recommendation: In the upper division baccalaureate degree category, 3 semester hours in Banking, Business Administration, Economics, or Finance, or as an elective in International Finance (5/81). NOTE: Complete information on this course can be found in the 2000 edition.

Foreign Exchange Theory and Practice (55)
Location: 80 Maiden Lane and other locations in New York City.
Length: Version 2, 3, or 4: 45 hours (14 weeks).
Dates: Version 2: September 1981 - December 1989. Version 3: January 1990 - August 1993. Version 4: September 1993 - December 2007.*
Objectives: Version 2: To provide the student with a working knowledge of the foreign exchange market and Eurocurrency market as related to the daily operations of the foreign exchange department of a money center bank. Version 3 or 4: Discuss foreign exchange markets and the daily operations of a foreign exchange department of a bank; predict the effects of certain international economic, political, cultural, and natural occurrences on foreign exchange rates; interpret a given exchange rate and accurately apply it to a given principal currency amount for purposes of conversion; analyze foreign exchange transactions, spot trading, hedging, covered interest arbitrage, and swap transactions; manage the risks involved in foreign exchange transactions.
Instruction: Version 2 or 3: A comprehensive theoretical and practical view of the foreign exchange market including dealing techniques of a bank’s trading room; spot trading; hedging; covered interest arbitrage; swap transactions; interaction between the foreign exchange market and the Eurodollar market; policy matters and accounting for foreign exchange transactions. Version 4: Same as Version 2 or 3; except accounting for foreign exchange transactions is not covered. (Prerequisite: International Banking (50) or equivalent preparation.)
Credit recommendation: Version 2 or 3: In the upper division baccalaureate degree category, 3 semester hours in Banking, Business Administration, Economics, or Finance (5/81) (1/90 revalidation) Version 4: In the upper division baccalaureate degree category, 3 semester hours in Banking, Economics, or Finance (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). NOTE: This course covers a portion of a college-level course in International Finance. *NOTE: An earlier version of this course, dating from September 1969 to August 1981, has been recommended for credit. Please consult the 1990 edition of the Directory for further information.

Human Relations in Organizations (90)
(Formerly Human Relations in Banking)
Location: Various area bank and college facilities.
Length: Version 2 or 3: 45 hours (14 weeks).
Dates: Version 2: September 1987 - August 1992. Version 3: September 1992 - December 2007.*
Objectives: Version 2: Identify principles of human relations and apply them to the banking environment. Version 3: Explain the purpose and importance of human relations in an organizational setting; identify major forces influencing behavior at work; discuss the impact of these forces on work situations.
Instruction: Version 2: A framework for the study of human relations including major forces influencing work behavior; improving personal and organizational communication; self-knowledge and personal/organizational values; personal strategies for improvement: constructive self‑disclosure, emotional control, positive reinforcement and positive first impressions; team-building and conflict management; personal and professional life changes; cultural diversity. Assessment of student mastery is based on the demonstration of skills in role-plays as well as on the demonstration of theoretical knowledge in written examinations. Version 3: This course covers the social and psychological aspects of human behavior that are particularly relevant to a business environment. Course participants become more aware of their own and others’ behaviors and motivations, explore group dynamics, and develop ways to increase the effectiveness of communication and vary their own interpersonal style. Topics are the same as Version 1; except that assessment of student mastery is based on demonstration of theoretical knowledge in written examinations.
Credit recommendation: Version 2: In the upper division baccalaureate degree category, 3 semester hours as an elective in Management (1/87 revalidation). Version 3: In the lower division baccalaureate/associate degree category or in the upper division baccalaureate degree category, 3 semester hours as an elective in Business, Management, or Social Science (9/92 revalidation) (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). *NOTE: An earlier version of this course, dating from September 1981 to August 1987, has been recommended for credit. Please consult the 1992 edition of the Directory for further information.

International Banking (50)
(Formerly International Banking Operations [50])
Location: Various area bank and college facilities.
Length: Version 3 or 4: 45 hours (14 weeks).
Dates: Version 3: September 1987 - August 1993. Version 4: September 1993- May 2008.*
Objectives: Version 3 or 4: Explain international banking functions and services; discuss banking transactions in a multinational environment.
Instruction: Version 3 or 4: Balance of payments and country risk assessment; organization of U.S. money center banks and their correspondent banks; money transfers; collections; letters of credit; bankers acceptances; foreign exchange transactions; international lending; Eurodollar market; lending agencies. (Prerequisites: Principles of Banking (12) or equivalent preparation.)
Credit recommendation: Version 3: In the upper division baccalaureate degree category, 3 semester hours in Finance or Economics (1/87 revalidation). Version 4: In the lower division baccalaureate/associate degree category, 3 semester hours in Finance or Economics (9/92 revalidation) (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). *NOTE: Versions 1 and 2 of this course, dating from September 1963 to August 1987, have been recommended for credit. Please consult the 1992 edition of the Directory for further information.

Introduction to PC’s for Bankers (99)
Location: Various bank and college facilities.
Length: 45 hours (14 weeks).
Dates: January 1997 - August 2002.*
Objectives: Discuss the fundamental concepts, vocabulary, and operating principles of the microcomputer and its operating system; discuss the fundamental concepts of word processing, spreadsheets, database management software applications, and presentation graphics software; select the appropriate word processing, spreadsheet, database management, and presentation graphics software applications to meet needs and business objectives.
Instruction: The role played by the PC in business; practical ways of acquiring, implementing, and operating the PC system; introduction to computers; file and disk concepts; modifying a document file; starting Windows; file manager; searching between applications; commands and concepts; Microsoft Word; entering and saving text; formatting paragraphs and characters; adding graphics; proofing and saving the document; using wizards to create a document; modifying the cover letter; creating and personalizing the resume; Microsoft Excel; the Excel Window; selecting a cell and entering text/numbers; calculating a sum; copying cells; formatting the worksheet; adding a chart; saving, printing, and opening; correcting errors and online help; entering titles, numbers, and formulas; using average, max., and min.; applying formats and changing widths/heights; 3-D charting; previewing, printing, and displaying; Microsoft Access; creating a database, a table, and adding records; exiting, opening, and adding new records; previewing, printing, and creating additional tables; creating a graph; using online help; creating, displaying, running, and printing a query; basic query manipulation; criteria; sorting data; saving and graphing; Microsoft PowerPoint; picking a Look Wizard; creating the title slide; text attributes; adding, creating, and moving slides; using slide show; slide master; slide sorter; correcting errors and online help; creating a presentation in outline view; outline view; adding clip art; using autoshapes; manipulating text; editing and printing the presentation.
Credit recommendation: In the lower division baccalaureate/ associate degree category, 3 semester hours in Data Processing, Computer Information Systems, or Office Automation (6/98). *NOTE: The current version of this course, now known as Microsoft Office for Bankers (99), is grouped with Microsoft Office for Bankers (99A). Please refer to that exhibit for further information.

Introduction to Residential Mortgage Lending (27)
Location: Various bank and college facilities.
Length: 45 hours (14 weeks).
Dates: September 1999 - December 2007.*
Objectives: Discuss the primary and secondary mortgage market as it affects the real estate industry; discuss the laws and regulations governing residential mortgage lending; discuss the practical aspects of residential lending; list and describe the various sources of loans; explain the loan cycle and types of loan programs; discuss the basic principles of residential appraisal.
Instruction: Legal concepts in residential mortgage lending; types of residential mortgage loan programs; the loan evaluation process; appraisals; the loan closing; mortgage loan servicing; collections, foreclosure and real estate ownership; FHA/VA loan programs; the secondary mortgage market. (Prerequisite: Mathematics for Business.)
Credit recommendation: In the lower division baccalaureate/ associate degree program, 3 semester hours in Real Estate, Banking, or as an elective in a Business curriculum (6/98) (5/03 revalidation ).

Introduction to the Securities Industry (81)
(Formerly Introduction to Securities)
Location: Various bank and college facilities.
Length: 45 hours (14 weeks).
Dates: September 1996 - December 2007.*
Objectives: Explain the characteristics of common and preferred stock; discuss the use of corporate bonds and explain the borrowing procedures of the U.S. government and its agencies; define mutual funds, margin accounts, and options; discuss forward and futures contracts; explain the operation of the exchange markets and the over-the-counter securities market.
Instruction: The securities industry; common stocks; analyzing common stocks; preferred stocks; equity related investments; corporate bonds; U.S. government and agency securities; municipal bonds; and special bond types; mutual funds; margin accounts; options; forwards and futures; underwriting; raising capital; exchange markets; the over-the-counter securities markets; operations-order processing; government regulation.
Credit recommendation: In the lower division baccalaureate/ associate degree category, 3 semester hours as an elective in Finance (6/98) (4/03 revalidation). NOTE: This course and The Bond and Stock Markets overlap in content. Credit is recommended for only one course.

Law and Banking I (60)
(Formerly Law for Bankers I; Business and Banking Law; and Business Law)
Location: Various area bank and college facilities.
Length: Version 2 or 3: 45 hours (14 weeks).
Dates: Version 2: September 1987 - August 1993. Version 3: September 1993 - December 2007.*
Objectives: Version 2: Define the concepts of law, including contracts, torts, property, bankruptcy and consumer lending, and recognize them as they occur in the banking environment. Version 3: Discuss the fundamental basis of legal processes (courts and litigation), legal rights and obligations (torts, crimes, contracts), business structures, real and personal property, and credit transactions.
Instruction: Version 2: Common law; statutory law; Uniform Commercial Code (UCC) banking regulations; the court system; bank-related torts and crimes; legal entities: individuals, proprietorships, corporations, governments, and estates; contracts, statute of frauds; third party, quasi contracts; personal and real property; bankruptcy; liquidations; truth in lending; equal credit opportunity; real estate transactions. Version 3: Sources of law: statutes, constitutions, banking regulations; uniform laws; the court system; non-court forums; torts; crimes; criminal referral; sole proprietorships; agents; independent contractors; partnerships; corporations; estates of deceased persons; guardians; trusts; other legal entities; the law of contracts; creation of a contract; illegal contracts; statute of frauds; interpreting contracts; performance of the contract; breach of contract/remedies; quasi contracts; personal and real property; modes of acquisition of personal property; bailments; ownership of real property; co-ownership of real property; concurrent estates; acquisition of real property; use of real property as security for a loan; bankruptcy; liquidation; individual debt adjustment plans; Chapter 11 reorganizations; truth in lending; fair credit billing; credit cards; consumer leasing; equal credit opportunity; real estate settlement procedures; fair credit reporting; fair debt collection practices; right to financial privacy; electronic fund transfer. (Prerequisite: Principles of Banking (12) or equivalent preparation.)
Credit recommendation: Version 2 or 3: In the lower division baccalaureate/associate degree category or in the upper division baccalaureate degree category, 3 semester hours in Business Law or Banking (1/87 revalidation) (12/92 revalidation) (11/93 revalidation) (3/95 revalidation) (3/00 revalidation). *NOTE: An earlier version of this course, dating from September 1981 to August 1987, has been recommended for credit. Please consult the 1992 edition of the Directory for further information.

Law and Banking II (61)
(Formerly Law for Bankers I; and Law of Commercial Instruments)
Location: Various area bank and college facilities.
Length: Version 2 or 3: 45 hours (14 weeks).
Dates: Version 2: September 1987 - August 1993. Version 3: September 1993 - December 2007.*
Objectives: Version 2 or 3: Define commercial concepts of law that are of special concern to the banker, including negotiable instruments, check processing and collection, and secured transactions; recognize them as they occur in the banking environment.
Instruction: Version 2: Essential elements of negotiable instruments; commercial paper (drafts, checks, notes and CDs); holder in due course; liability; check losses and frauds; letters of credit; secured transactions; transmittal and collection of funds. (Prerequisite: Law for Bankers I or equivalent preparation.) Version 3: Essential elements of negotiable instruments; contractual liability; liability of parties to an instrument; endorsements; warranty liability; discharges; holder in due course; negotiation; good faith and without notice of defect; shelter doctrine; susceptibility to real defenses; bank collection legislation and regulations; the collection process; forward collection of checks; return of checks; unauthorized signatures; forged instruments; properly payable checks; wrongful dishonor of checks; final payment of checks; priority of funds in drawer’s account; check kiting; letters of credit; commercial letters of credit; issuing banks’ obligations; secured transactions; security interest: attachment and perfection; priorities in collateral and default. (Prerequisite: Law and Banking I (60) or equivalent preparation.)
Credit recommendation: Version 2 or 3: In the lower division baccalaureate/associate degree category or in the upper division baccalaureate degree category, 3 semester hours in Business Law or Banking (1/87 revalidation) (12/92 revalidation) (11/93 revalidation) (3/95 revalidation) (3/00 revalidation). *NOTE: An earlier version of this course, dating from September 1963 to July 1981, has been recommended for credit. Please consult the 1992 edition of the Directory for further information.

Management Principles and Practice (96)
(Formerly Management Theory and Practice)
Location: Various area bank and college facilities.
Length: Version 2 or 3: 45 hours (14 weeks).
Dates: Version 2: September 1987 - August 1993. Version 3: September 1993 - December 2007.*
Objectives: Version 2 or 3: Identify, define, and explain concepts in management skills: planning, organizing, staffing, leading, controlling.
Instruction: Version 2 or 3: Introduction to managing; planning and objectives; forecasting: developing planning premises; managerial decision-making; fundamentals of organizing; delegation and decentralization; modern organization theory; organizational design; recruitment and selection; appraisal and development; management and the human factor; motivation; leadership; communicating; principles of control; controlling operations; budgetary controls and management information systems; international management; ethics and social responsibilities of management. (Prerequisite: Principles of Banking (12) or Human Relations in Organizations (90) or equivalent preparation.)
Credit recommendation: Version 2 or 3: In the lower division baccalaureate/associate degree category, 3 semester hours in Management (1/87 revalidation) (9/92 revalidation) (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). *NOTE: An earlier version of this course, dating from September 1981 to August 1987, has been recommended for credit. Please consult the 1992 edition of the Directory for further information.

Mathematics for Business (30)
(Formerly Business Mathematics)
Location: 80 Maiden Lane and other locations in New York City.
Length: Version 2, 3, 4, or 5: 45 hours (14 weeks).
Dates: Version 2: January 1990 - August 1993. Version 3: September 1993 - August 1994. Version 4: September 1994 - August 1995. Version 5: September 1995 -December 2007.*
Objectives: Version 2: Calculate percentages in business; compute discounts and simple interest; calculate commissions and net proceeds from consignment sales; compute average annual yield; use various methods of determining depreciation; define different classes of stock and calculate the commission and proceeds. Version 3: Calculate percentages used in business; compute discounts and simple interest; calculate commissions and net proceeds from consignment sales; recognize common types of bonds and their differences; compute average annual yield; calculate dividend distribution; use various methods of determining depreciation; journalize and record transactions; prepare worksheets and financial statements; record adjustments and closing entries. Version 4: Calculate percentages used in business; compute discounts and simple interest; calculate commissions and net proceeds from consignment sales; recognize common types of bonds and their differences; compute average annual yield; calculate dividend distribution. Version 5: Calculate percentages used in business; compute discounts and simple interest; calculate commissions and net proceeds from consignment sales; recognize common types of bonds and their differences; compute average annual yield and rate of yield to maturity; use various methods of determining depreciation; compute compound interest; distinguish between present and future value; explain the concept of annuity; develop loan amortization tables.
Instruction: Version 2: The course covers basic mathematics as applied in business and banking situations. Review of fundamental arithmetic processes; percentages; cash discounts; commissions; simple interest; discounting notes and interest variables; inventories and turnover; depreciation; corporate stocks; corporate and government bonds. Version 3: Review of fundamental arithmetic processes; percentages; cash discounts; commissions; simple interest; discounting notes and interest variables; inventories and turnover; depreciation; bookkeeping fundamentals; journalizing and posting transactions; cash control systems; preparation of worksheets and financial statements; recording of adjustments and closing entries. Version 4: Review of fundamental arithmetic processes; percentages; cash discounts; commissions; simple interest; discounting notes and interest variables. NOTE: There is an element of bookkeeping contained in this course that was not considered in establishing the credit recommendation. Version 5: Fractions; decimals; percents used in business; commissions; trade and cash discounts; mark up; simple interest; notes and interest variables; borrowing by business; charges for credit; inventory valuation methods; depreciation; corporate stocks; corporate and government bonds; compound interest; present and future value; annuities.
Credit recommendation: Version 2 or 3: In the lower division baccalaureate/associate degree category, 2 semester hours as Business Mathematics (5/81) (1/90 revalidation) (11/93 revalidation). Version 4: In the lower division baccalaureate/associate degree category, 1 semester hour as Business Mathematics (3/95 revalidation). Version 5: In the lower division baccalaureate/associate degree category, 3 semester hours as Business Mathematics (11/95 revalidation) (5/00 revalidation). *NOTE: An earlier version of this course, dating from September 1981 to December 1989, has been recommended for credit. Please consult the 1992 edition of the Directory for further information.

Microsoft Excel (99E)
Location: Various bank and college facilities.
Length: 45 hours (14 weeks).
Dates: September 2002 - December 2007.*
Objectives: Create, edit, format, and print spreadsheets; create formulas using basic statistical functions and financial functions; create and edit basic charts; create, sort, and filter a worksheet database.
Instruction: Creating a worksheet and embedded chart; formatting and printing a worksheet; formulas and statistical functions; modifying a worksheet; inserting, deleting, and copying; financial functions and amortization schedules; conditional formatting; modifying a data table; creating and sorting a worksheet database; using AutoFilter to filter a worksheet database.
Credit recommendation: In the lower division baccalaureate/ associate degree category, 1 semester hour in Computer Software Applications (4/03).

1. Microsoft Office for Bankers (99)
(Formerly Introduction to PC’s for Bankers [99])
2. Microsoft Office for Bankers (99A)
Location: Various bank and college facilities.
Length: 1. 45 hours (14 weeks).* 2.45 hours (14 weeks).
Dates: 1. and 2. September 2002 - December 2007.*
Objectives: Courses 1 and 2: Discuss the fundamental concepts of word processing, spreadsheets, database management software applications, and presentation graphics software; apply the appropriate word processing, spreadsheet, database management, and presentation graphics software applications to meet needs and business objectives.
Instruction: Courses 1 and 2: Practical ways of acquiring, implementing, and operating the PC system; introduction to computers; modifying a document file; starting Windows; file manager; searching between applications; commands and concepts; Microsoft Word; entering and saving text; formatting paragraphs and characters; adding graphics; proofing and saving the document; using wizards to create a document; Microsoft Excel; the Excel Window; selecting a cell and entering text/numbers; calculating a sum; copying cells; formatting the worksheet; adding a chart; saving, printing, and opening; correcting errors and online help; entering titles, numbers, and formulas; using average, max., and min.; applying formats and changing widths/heights; previewing, printing, and displaying; Microsoft Access; creating a database, a table, and adding records; exiting, opening, and adding new records; previewing, printing, and creating additional tables; creating a graph; using online help; creating, displaying, running, and printing a query; basic query manipulation; criteria; sorting data; saving and graphing; Microsoft PowerPoint; creating the title slide; text attributes; adding, creating, and moving slides; using slide show; slide master; slide sorter; correcting errors and online help; creating a presentation in outline view; outline view; adding clip art; manipulating text; editing and printing the presentation.
Credit recommendation: Courses 1 and 2: In the lower division baccalaureate/ associate degree category, 3 semester hours in Office Automation Technology or Business Computer Applications (6/98) (4/03 revalidation). NOTE: Courses 1 and 2 must both be completed to receive credit.
*NOTE: A previous version of Microsoft Office for Bankers (99) is listed under the course exhibit titled Introduction to PC’s for Bankers (99).

Money and Banking (74)
Location: Various area bank and college facilities.
Length: Version 3 or 4: 45 hours (14 weeks).
Dates: Version 3: September 1981 - August 1992. Version 4: September 1992 - August 2000. Version 5: September 2000 - December 2007.*
Objectives: Version 3: Explain the function of the American financial system and the role of money and credit within the U.S. economic system and the world economy; interpret the significance of events in the current financial scene as they relate to money and banking. Version 4 or 5: Explain the function of the American financial system and the role of money and credit within the U.S. economic system and the world economy; discuss financial events as they relate to money and banking.
Instruction: Version 3, 4, or 5: Money and economic activity; financial intermediaries; commercial banks and the creation of money; bank operations and the payments mechanism; the Federal Reserve and bank regulation; tools of monetary and fiscal policy; monetary theory; international banking; major trends and issues in banking. (Prerequisite: Economic Principles (70) or equivalent preparation.)
Credit recommendation: Version 3: In the lower division baccalaureate/associate degree category or in the upper division baccalaureate degree category, 3 semester hours in Money and Banking (1/87 revalidation). Version 4: In the lower division baccalaureate/associate degree category or in the upper division baccalaureate degree category, 3 semester hours as an elective in Business, Economics, or Banking (9/92 revalidation) (11/93 revalidation) (3/95 revalidation). Version 5: In the lower division baccalaureate/associate degree category, 3 semester hours as an elective in Business, Economics, or Banking (5/00 revalidation). *NOTE: Versions 1 and 2 of this course, dating from September 1963 to August 1981, have been recommended for credit. Please consult the 1992 edition of the Directory for further information.

Oral Communication (7)
(Formerly Business Speech (7), Business Speaking; Business Conference Speech; and Speech)
Location: Various area bank and college facilities.
Length: Version 2 or 3: 45 hours (14 weeks).
Dates: Version 2: September 1987 - August 1992. Version 3: September 1992 - December 2007.*
Objectives: Version 2: Identify and define theories and techniques of effective oral communication; apply techniques to situations that occur in the work environment. Version 3: Discuss the components of the communication process; develop techniques to control the fear of speaking; develop techniques to improve vocal inflection, volume, intensity, and pitch; use an outline to organize speeches; use clear, concise, and effective language; use eye contact and gestures effectively; use the business phone effectively; create and use appropriate visual aids; deliver informational and persuasive speeches; prepare and deliver a business presentation.
Instruction: Version 2: Communication theory; building confidence; adapting to listeners; listening well; improving language and style; gathering and organizing information; interesting and informing the audience: narrative strategies, expository strategies; visual aids; persuading: reasoning, appeals, credibility; body and voice in communication: bodily action, gesture, voice and pronunciation; special types of speaking: interviewing, speaking in small groups, short speeches for special occasions. Version 3: Course participants are required to deliver 2 three-minute prepared and impromptu presentations, 2 five-minute informative and visual aid supported presentations, and a ten-minute persuasive presentation using visual aids. Topics covered during the lecture include: Fears of public speaking; barriers to communication; improving communication; listening; feedback; planning and organizing a presentation; audience analysis; research and support materials; transitions and conclusion; handling questions during a presentation; types of informative speeches; choice of words; use of vivid language; vocal skills; eye contact; gestures; special speeches; visual aids; impromptu presentation; persuasive speeches; patterns of organization; telephone techniques; preparing for and conducting an interview.
Credit recommendation: Version 2 or 3: In the lower division baccalaureate/associate degree category, 3 semester hours in Public Speaking or Speech (1/87 revalidation) (12/92 revalidation) (11/93 revalidation) (3/95 revalidation) (4/00 revalidation). *NOTE: Version 1 of this course, dating from September 1981 to August 1987, has been recommended for college credit. Please refer to the 1992 edition of this Directory for further information.

Principles of Banking (12)
(Formerly Commercial Banking Principles)
Location: 80 Maiden Lane and other locations in New York City.
Length: Version 2 or 3: 45 hours (14 weeks).
Dates: Version 2: September 1981 - December 1989. Version 3: January 1990 - May 2008.*
Objectives: Version 2: Within a basic academic program in banking, to provide the student with a fundamental course which presents terminology, documents, and processes of commercial banks as well as a historical and organizational overview of commercial banking. Version 3: Explain the importance of full-service commercial banking as it affects the economy, the community, business, and the individual; recognize the competitive and regulatory environments in which banks increasingly operate; describe the three major functions of commercial banks- deposits, credit, and payments-and their interrelationship; list the various products and services banks offer governments, businesses, individuals, and correspondents; contrast between demand and time deposits; illustrate the various types of bank loans and investments; explain the concepts of liquidity, safety, and income; explain trust department services and other specialized bank services, including letters of credit, bankers acceptances, trust receipts, negotiable warehouse receipts, travelers checks, safe deposit services, payment services, and services to correspondent banks; identify various banking regulations and examination measures, including bank chartering, regulatory agencies, bank examinations, branch and unit banking, bank holding companies, internal controls, auditing, operating safeguards, and accounting.
Instruction: Version 2: Overview of the services and functions of a commercial bank through a study of its components and controls. The banking function; history and development of the commercial banking system; deposit and payment function; loans and investments; other services (money management, international, fiduciary, computerized payroll, and billing); the Federal Reserve System; governmental supervision. Version 3: History of the U.S. banking system; the Federal Reserve System; organization of American banks; documents and language used in banking; the deposit function/deposit relationships; teller functions; check collection and processing; bank bookkeeping and record keeping; the credit function; bank accounting; special bank services; bank regulation and examination; issues facing banks today.
Credit recommendation: Version 2: In the lower division baccalaureate/associate degree category, 3 semester hours in Banking, Economics, or Finance (5/81). Version 3: In the lower division baccalaureate/associate degree category, 3 semester hours in Banking, Business, or Finance (1/90 revalidation) (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). *NOTE: An earlier version of this course, dating from September 1963 to August 1981, has been recommended for credit. Please consult the 1990 edition of the Directory for further information.

Principles of Investments (77)
Location: Various bank and college facilities.
Length: 45 hours (14 weeks).
Dates: January 1997 - December 2007.*
Objectives: Describe the instruments of securities markets and how they are traded; discuss the returns and risks from investing and how those concepts are integrated in portfolio management and capital markets theory; describe how efficient markets theory affects valuations; discuss the various securities choices and their valuation concepts.
Instruction: Understanding investments; investment alternatives; securities markets; how securities are traded; the returns and risks from investing; expected return and risk; portfolio theory; capital market theory; market efficiency; analysis and valuation of fixed income securities and common stocks; current issues in investments.
Credit recommendation: In the lower division baccalaureate/ associate degree category or in the upper division baccalaureate degree category, 3 semester hours in Finance (6/98) (5/03).

Principles of Marketing (14)
(Formerly Financial Services Marketing; Marketing for Bankers; Marketing; and Basic Marketing)
Location: Various area bank and college facilities.
Length: Version 3: 45 hours (14 weeks).
Dates: Version 3: September 1987 - December 2007.*
Objectives: Version 3: Identify all elements of a marketing plan; explain the concepts of consumer behavior and marketing strategy; formulate a marketing plan.
Instruction: Version 3: Marketing in the organization; consumer motivation and buying behavior; marketing information and research; the marketing management process; situation analysis; formulation of a master marketing strategy; product and pricing strategies; distribution strategies; performance monitoring; marketing and the wholesale side of banking; public relations and communications. (Prerequisite: Principles of Banking (12) or equivalent preparation.)
Credit recommendation: Version 3: In the lower division baccalaureate/associate degree category or in the upper division baccalaureate degree category, 3 semester hours as Principles of Marketing (1/87 revalidation) (12/92 revalidation) (11/93 revalidation) (3/95 revalidation) (5/00 revalidation). *NOTE: Versions 1 and 2 of this course, dating from September 1969 to August 1987, have been recommended for credit. Please consult the 1992 edition of the Directory for further information.

Principles of Real Estate I  (23)
Location: Various bank and college facilities.
Length: 45 hours (14 weeks).
Dates: January 1997 - December 2007.*
Objectives: Define terminology associated with real estate transactions; describe the relationship among seller, buyer, salesperson, and brokerage in a legal real estate transaction as it refers to the Law of Agency; discuss how financing influences the availability of money to be used in residential and commercial real estate transactions; discuss the steps of a real estate transaction from negotiation to closing; discuss the salesperson’s ethical responsibilities to other members of society with respect to human rights.
Instruction: License law and regulation; Law of Agency; estates and interests; liens and easements; deeds; leases; contracts; title closing and costs; real estate finance; primary and secondary mortgage market; land use regulations; construction; valuation; human rights and fair housing; environmental issues. Course participants who successfully complete this course are eligible to sit for the New York State Salesperson’s Examination.
Credit recommendation: In the lower division baccalaureate/associate degree category, 3 semester hours in Real Estate or as an elective in a Business curriculum (6/98) (5/03 revalidation).

Real Estate and Mortgage Principles
(Formerly Real Estate Mortgage Principles)
Dates: Version 1: September 1963 - August 1981. Version 2: September 1981 - December 1989.
Credit recommendation: Version 1: In the lower division baccalaureate/associate degree category or in the upper division baccalaureate degree category, 4 semester hours in Banking, Business Administration, Economics, or Finance (5/74). Version 2: In the lower division baccalaureate/associate degree category or in the upper division baccalaureate degree category, 3 semester hours in Banking, Business Administration, Economics, or Finance (5/81). NOTE: Complete information on this course can be found in the 2000 edition.

Techniques and Practices of Financing International Trade (53)
Location: 80 Maiden Lane and other locations in New York City.
Length: 45 hours (14 weeks).
Dates: September 1989 - December 2007.*
Objectives: Utilize letters of credit, collections, and bankers acceptance in international banking activities.
Instruction: A comprehensive study of letters of credit, their purposes, functions and methods of operation. The course covers the various methods of handling documentary collections of import credits, export credits, government credits, and stand-by credits, and the various methods of refinancing collections and letters of credit, such as advances and acceptances. Instruction is approached within the framework of the day-to-day processing of collections and letters of credit by banks. A term paper building upon the class lecture is part of the course requirements. (Prerequisite: International Banking or equivalent preparation.)
Credit recommendation: In the lower division associate degree/certificate category, 3 semester hours in Banking (1/90) (3/95 revalidation) (5/00 revalidation).

The Bond and Stock Markets
Location: Various bank and college facilities.
Length: 45 hours (14 weeks).
Dates: January 1998 - August 1998.
Objectives: Describe the methods of bringing bonds and stocks to the markets; describe how bonds are valued; discuss securitized bond instruments; explain the workings of a securities brokerage firm; identify features and benefits of various types of securities; explain the risks associated with investments; describe financial and economic data.
Instruction: Riding the yield curve; the fixed income market place; the Fed; the U.S. government securities market; treasuries; agency and mortgage backed securities; the primary dealer; municipal debt; corporate bonds; the secondary market; the stock market; reading the financial press; the initial public offering; inside the brokerage firm; the specialist; OTC trading; investment companies; stock options; the back office; stock market theories; analyzing stocks.
Credit recommendation: In the lower division baccalaureate/ associate degree category, 3 semester hours as an elective in Finance (6/98). NOTE: This course and Introduction to Securities overlap in content. Credit is recommended for only one course.

Updated 4/14/08

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