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The Political Theology Of The Spanish State - 959 Words

conversion to the political theology of the Spanish State. We argued that the articulation of forced conversion as a paramount goal of the State’s ontological aspirations relies upon a misunderstanding apropos of the alleged divine performativity of the Law. We then moved to The Turn and analysed the literary sublimation that Cervantes operates in Don Quixote I-II apropos of the aforementioned political reality. In particular, we focused on the way Cervantes’s ingenium relies upon the trope of conversion (literary sense) and on how its deployment helped Cervantes circumvent the inquisitorial censorship while suspending the reader’s belief in the State’s ontological tendency (and by extension, in forced conversion as the crowning policy of that ambition). As part of this task, we analyzed a multiplicity of semantic (featuring a symbolism linked to the countryside, the military, the economic, the religious, the political, the professional fields, to name but a few) and non-semantic displacements (related to the materiality of language as such) across forms (novel and theatre, but also poetry) and genres (epic, comedy, tragedy, tragicomedy, realistic fiction, romance and satire)iv. After The Pledge and The Turn it is now time for us to ask ourselves the following question: for all this string of ecstatic conversions, wherein, though, resides The Prestige of Cervantes as instantiated in Don Quixote Parts I-II? Chapter LXIV of the second part proves momentous with regard to thisShow MoreRelatedLiberation Theology And The Cultural Destruction Of Third World Countries927 Words   |  4 Pagesof third world countries, liberation theology is a method of Catholic teaching in which people are liberated from their oppressors. Liberation theology’s roots stem in Latin America, where there was need for salvation and redemption of the faith. The 1960s were a time of worldwide human development, and even the Roman Catholic Church was involved. Without liberation theology, the church would have never seen a need for change and reformation. Liberation theology applies modern happenings to the religiousRead MoreHistory Of South American Poverty And The Development Of Liberation Theology1451 Words   |  6 PagesLiberation Theology â€Å"But the poor person does not exist as an inescapable fact of destiny. His or her existence is not politically neutral, and it is not ethically innocent. The poor are a by-product of the system in which we live and for which we are responsible. They are marginalized by our social and cultural world. They are the oppressed, exploited proletariat, robbed of the fruit of their labor and despoiled of their humanity. Hence the poverty of the poor is not a call to generous relief actionRead MoreThe Reform Of The Western Church888 Words   |  4 Pages Three main basic challenges existed in Europe, leading to the need for reform of the Western church: moral failings of the church – across all levels of leadership, uncertainty toward theology and knowledge as Byzantine influence worked its way westward, and political and economic contentions between the church, secular structures of power, and the people. Along with the need for reform came ripeness for change in the form of t he printing press, movement away from Latin to national languages, growingRead MoreThe Surveillance Of Women Has Been A Consistent Form Of Oppression957 Words   |  4 Pageschildren and the rest of the descendants. Silverblatt’s Modern Inquisitions states that, â€Å"Spanish gender norms decried women’s participation in Andean public life and denounced their fatal attraction to Satan and heresy.† (2004 p. 193) By doing so, the Spanish destroyed the previous elements of equality found between males and females in the Andean culture. Silverblatt later continues by saying, â€Å"The gendered institutions of Spanish colonialism systematically eroded the life possibilities of most AndeanRead MoreThe 19th Century1724 Words   |  7 PagesThe Seventeenth Century would prove to be one of the most important eras in the shaping of the America. Both the English and the Spanish would vie for dominance of the uncharted continent with the establishment of colonies on Amer ican soil. The Spanish would try to colonize the American Southwest and the English, the Northeast. Indelibly, both cultures would leave their mark on the American landscape, especially within the context of religion and politics. Spain first set up an outpost in whatRead MoreA Fair Wage System Did Not Exist Even Before The Industrial Revolution1688 Words   |  7 PagesRevolution. Along with that, the Industrial Age destroyed the eternal laws of supply and demand. As a result of the unfair distribution of wealth in the Industrial Age, a new school of theological thought emerged, known as â€Å"the Social Gospel.† This new theology stemmed from many theologians who developed economic theories and studied sociology. Despite the bad results from the Industrial Age, advocates still believed that it did have some positive outcomes that brought American citizens closer, includingRead MoreThe Censorship Of Yellow Journalism1588 Words   |  7 Pagesbuy their newspapers. They include stories, drawings, and cartoons. Instead, the journal gave birth to modern-day investigative Journalism. It was during the 1890s, this newspaper would cause a war between the United States and Spain. What would plunge America into the Spanish-America was that â€Å"William Randolph Hearst wrote a story of America in a war with Cuba, which he said would not just sell millions of papers, but make him the head honcho of the newspaper business.† Although the journalRead MoreReligious, Social, Philosophical, And Political Upheaval1394 Words   |  6 PagesReligious, social, philosophical, and political upheaval spread throughout both Europe and the Americas during over the course of the eighteenth century. In prominent Western nations such as England, France, and Spain, religious tensions persisted from power struggles between Catholicism and Protestantism throughout the 1600s. However, while governments remained entrenched in organized religion at a state level, Enlightenment ideas emphasizing human reason brought about a new epistemological ideologyRead MoreAnalysis Of When Jesus Came The Corn Mothers Went Away1265 Words   |  6 PagesRamon Gutierrez’s When Jesu s Came, The Corn Mothers Went Away is an exploration of the merging of Spanish, Franciscan and Pueblo Indian cultures throughout Spains â€Å"frontier† in its colonial American empire before Anglo contact. Gutierrez builds a foundation for his analysis by discussing Pueblo Indian life prior to outside contact, Franciscan theology, and the class structure of Spanish communities in each of its respective book sections. He examines meanings of the cultural interactions of giftRead MoreReligious Factors Have A Great Deal Of Influence On Politics Essay1779 Words   |  8 Pagesindigenous religions. In order to combat religion’s influence on Latin American politics the anti-clericalism movement began in colonial times. Anti-clericalism is defined as the opposition to the clergy for its real or alleged influence in both political and social affairs (Britannica, 2009). It should be noted that although anti-clericalism is often associated with anti-Catholicism, anti-Christia nity, anti-deism, irreligiosity, and atheism they are not the same. Butler (2009) noted that we could

Sex Sells Video Games and Insecurity - 1135 Words

As I continued on to the next level, I encountered an elderly bee, who had one last dying wish--A wish that I would soon fulfill. Oh, sweet pollination. It is the only way to make honey, and the only way for me to move on to the next level. I must help him. However, the elderly bee only wanted to pollinate one specific flower, the sunflower with the big breasts. The sunflower was unwilling to corporate. Then, as I walked away, I encountered a swarm of bees, who only had one objective, to tickle. A lit light bulb then appeared above my head. I had an epiphany. I gathered all of the tickling bees, and forced them to tickle the sunflower with the big breasts, thus exposing her breast, and allowing the elderly bee to pollinate her. The†¦show more content†¦Carrie Reinhard asserts that women do not feel comfortable playing as hypersexualized female protagonists in video games, because the video game industry provides characters modeling a body they cannot achieve, more an object for the male gaze than female empowerment (Reinhard. 6).Personally, seeing the sunflower with the big breasts did not encourage me to feel empowered. I felt weak and insecure because of the stereotypes of women that are illuminated within video games. Video games represent women as a typical damsel in distress, whereas men are viewed as the hero (Brenick et. al. 3). Although, providing female protagonists in video games were supposed to appeal to more women, it subsequently discouraged women from playing video games. Video games do not only hypersexualize women. Although, researches have noted for years that most video games target a male audience (Ivory. 2), the hypersexualization of men in video games has taken a toll on their players (Greenberg et al. 3). Mass media that display hypersexualized men, and women, such as video games, not only encourages women to become anorexic, it encourages men to take steroids, or to excessively exercise (Barlett et al. 1). Researchers, Barlet t, and Harris conducted an experiment in which both men and women were immersed within a video game, that depicted both women and men as hypersexualized (ibid).Show MoreRelatedNegative Effects Of Advertising804 Words   |  4 Pagesimpacts on young people. Media has played a major role in influencing people’s perception of the differences between male and female expectations. For example, sex appeal in advertising can have negative effects on youth’s self-esteem, body image and can brainwash their young minds to purchase the company’s products. Advertisements have always used sex appeal to gain attention and persuade people to buy that certain product. The media creates an unrealistic body image, and women are often shown as sexyRead More2.09 writing and effective concusion1669 Words   |  7 Pageswhat is most important to teens. With this information they’re able to create advertisements that will appeal to most teens and create profit. Many people ar gue that some or most of these ads aren’t ethical because they will create a problem or insecurity and then give the solution to that problem in the form of their product. Teens will listen to other teens in ads. http://www.utalkmarketing.com/pages/article.aspx?articleid=14465title=teens-will-listen-to-other-teens-in-ads Central Idea: TheRead MoreThe Negative Effects Of Advertising1545 Words   |  7 Pagesprovides better deals and lowest prices. Although there is a plethora of benefits to marketing advertisements, the demeaning subliminal messages and negative influences on lifestyles definitely outweigh the perks. Advertisement appeals are targeting sex and violence, making it more acceptable for the youth, even if the product has no concern in the subject. (Suggett, Paul. 24 Jan. 2017). Marketers understand targeting these subjects will make their products more appealing to people in this cultureRead MoreAmerican Beauty, directed by Sam Mendes Essay877 Words   |  4 Pagesblond. The cinematographer uses mense en scene when he places her in the center of the cheer dance at the basketball game. The camera focuses on her as the center of the group, perfectly executing every provocative move and puts Jane awkwardly behind her struggling to keep up. In another scene the camera shows the audience a full shot of Angela showing off for Ricky and his video camera but very soon the camera changes places with Ricky’s camera to show that he is admiring Jane in the reflectionRead MoreThe Persistence Of The Plague1260 Words   |  6 Pagesof denial as a coping mechanism rather than accepting the alternative of their much more plausible fate. No subject of particular genre is necessarily safe from one who seeks to live vicariously through them. Many women may have stumble over HBO s Sex and the City while channel surfing, and while they may not intend attempt to live vicariously through these characters, the thought crosses innocently through their synapses: Oh she is totally Charlotte, as they begin to acquaint the series with theirRead MoreMasculinity in the Media3136 Words   |  13 Pagesmovies, watched and played sports, wore sports apparel and played Halo and Call of duty. I was subconsciously filling my gender role by making â€Å"masculine† consumer choices that would affect choices I would make in the future. The violent toys and games that I grew up with became a part of me. I got into many fights in high school because I thought it was fun, I thought I was cool, and I thought the toughest football player at the school. I started to become more and more interested in the militaryRead More Sex in the M edia Essay3039 Words   |  13 PagesSex in the Media One of the most important resources of a business is its advertisement team. Due to the fact that people can and will buy your product only if they know about it. This is the reason that marketing and advertisement have the biggest budgets in a business. This is the reason that places such as Amazon.com spend up to four million dollars on advertisement a year, according to Dream-Biz.com written by Burke Hedges. There is a saying that goes Sex-sellsRead MoreThe Impact Of Popular Music On Societal Belief1842 Words   |  8 PagesGender is a construct that that pertains to the idea of being male or female. In contemporary contexts, gender identity goes beyond the hegemonic qualities of masculinity (physical strength, dominance and a strong sex drive) and femininity (nurture, passivity and materialistic), and branches into non-binary territory. Popular music both reflects and affects the perception of gender in audiences and, in turn, general society, through the portrayal of traditional and alternative gender roles and traitsRead MoreHow Do Different Forms Of Entertainment Media?1791 Words   |  8 Pages 1 How do different forms of entertainment media (like TV, movies, video games, comic books, etc.) create and re-create cultural values related to gender, race, ethnicity, social class, and technology? What do fictional worlds, societies, technologies, and creatures tell us about our own society and the values we hold? Are the cultural values expressed accurate reflections, or are they more like the distorted reflection of a fun house mirror? Do they reinforce the status quo or challenge culturalRead MoreHow Women Are Portrayed in Media6769 Words   |  28 PagesWith programs such as The Bachelor and Flavor of Love showing a dozen women competing for the attention of one man, often using their sexuality, magazine ads displaying a half-naked female body to sell a fragrance or cosmetic product, and television commercials highlighting a womans thigh and butt to sell sneakers, it may be difficult for society not to be influenced by the overwhelming message to objectify women. Negative Female Stereotypes Female stereotypes in the media tend to undervalue women

Organizational Developement Free Essays

This is a very important concept in effective consulting because hen we are aware of our involvement in the organization, it’s allows the consultant to see in which level are the people, how can we do to improve certain things, how they use to work. It’s allows the consultant to find a solution to some problems. 2. We will write a custom essay sample on Organizational Developement or any similar topic only for you Order Now If people are smart, why do they need to learn how to learn? What does Argyles mean by that? By that Arises means that even If people are very smart they need to learn how to learn. In the text Arises said that:† They rarely experience failure† and since they are almost always successful, they don’t know how to handle failure the day when it’s arrive. This Is call â€Å"single loop learning’. He also explains that people don’t see that they can Improve their learning by use the concept call â€Å"Double loop learning†. This concept speak about how to allow us to think about how and why a person acting. 3. What is the difference between process and content? What is your comfort as a consultant working on the process level? On the content level? How strong are your process skills? How do you know? What are your â€Å"content† specialty areas? I. E. , where could you, as a consultant, add content value In organizational decision making? ) And should you? A process can be define as Sequence of interdependent and linked procedures which, at every stage, consume one or more resources (employee, time, energy, machines, money) to convert inputs (data, material, parts, etc. ) into outputs. These outputs then serve as inputs for the next stage until a known goal or end result Is reached. A concept can be defined as something which must be done a purpose to accomplish; this Is what composes the process. I think I would be stronger on the process level. I know that because I’m the member of a Hip Hop band that I have created, and I know that when we have something to do for example a music to perform or to record, I know exactly what to do and what I need to say in order that the other members of the band did what they have to do, I think that regarding to my study my content specialty area will be the marketing and the management part 4. How could/would a successful change agent apply Chain’s model to his/her work? But there was a lot of people this year so they couldn’t allow everybody to participate and all the persons who were in internship like me had not the right to go to this special day. * Egocentric dilemma: In one of my last internship I was working with a manager who was really egocentric and all the time when I try to propose him some news things he was changing my proposition with one of him and say to me it was because he has more experience than me. How to cite Organizational Developement, Papers

Reasoning and Analysis Paper Assignmentâ€Cms 11, Sec. 8531 Essay Example

Reasoning and Analysis Paper Assignment—Cms 11, Sec. 8531 Paper Message body Reasoning and Analysis Paper Assignment—CMS 11, Sec. 8531 This assignment is a reasoning and analysis paper. What you have to do is to select one of the two movies listed below, and then develop a paper in which you analyze how both the halo effect (or the reverse halo effect) and the thesis expressed in Prof. Comila Shahani-Denning’s article are reflected in the movie. Be aware that the halo effect is not always about physical appearance. Also, although the halo effect and Shahani-Denning’s thesis may seem similar, they are not identical and should not be treated as one idea in your paper. What You Have to Do Prepare for this Assignment 1. Read the following article: Shahani-Denning, Comila. â€Å"Physical Attractiveness Bias in Hiring: What is Beautiful is Good. † Hofstra Horizons (Spring 2003): 15-18. (note: I found this article by googling the title. ) 2. Watch The Devil Wears Prada (2006) or Broadcast News (1987). 3. Write a 3/12 to 4 page paper (plus a works cited page; Times New Roman, 12 point font; double spaced) in which you answer the following question: How do the halo effect (or the reverse halo effect) and Shahani-Denning’s thesis apply to the assumptions and behaviors of the characters in the film as well as to your personal experience or to today’s popular culture? A good paper will accomplish all of the following (although not necessarily in the order listed): 1. Correctly identify the assigned article’s thesis and provide a concise, effective summary of the article that cites two or more supporting examples from the article. (Note: this may take you approximately one page); be sure to include in-text citations in MLA when you cite the article in your paper. . Explain how the article’s thesis relates to the movie. (Note be very specific when you relate the article’s thesis to the movie; use specific examples from the movie; be sure to cite the movie in your paper using MLA format, as well). 3. Explain what the halo effect (or the reverse halo effect) is and how it affects perception. (Note: yo u may use the definition from your textbook for the halo effect; be sure to cite your text if you do—this applies whether to use a direct quotation or paraphrase what the text says). 4. Explain how the halo effect (or the reverse halo effect) is depicted in the film. Again, be specific; each example needs to be described and cited). 5. Explain how the halo effect or Shahani-Denning’s thesis relates to a personal experience or to popular culture. (Note: popular culture means anything that has a wide popular appeal; forms of entertainment such as popular tv shows, music media, even the evening news are all part of the popular culture in the US). 6. Follow MLA guidelines for paper format and citation format (including in-text citations and a final works cited page). The final draft is due Saturday, Dec. rd (The weekend following the Thanksgiving break). Please Note: Late papers will not be accepted. Why are you doing this? This assignment will help you to learn how to app ly a concept learned in class to your own life and society as well as to assimilate and synthesize information from a variety of sources. Your paper will be marked using the Departmental Scoring Rubric (this will be looked at in class). All papers will be uploaded to Turnitin. com to be screened for plagiarism (similarity report). Papers that are not submitted will not be graded. We will write a custom essay sample on Reasoning and Analysis Paper Assignment—Cms 11, Sec. 8531 specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Reasoning and Analysis Paper Assignment—Cms 11, Sec. 8531 specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Reasoning and Analysis Paper Assignment—Cms 11, Sec. 8531 specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Free Essays on Social Change Project

Our group wanted to do something Different, we didn’t just want to institute something that our company â€Å"has† to do once a year to feel more a part of it’s community, to pay its dues so to speak. We wanted to help change the company from the inside out and make it a place that we would enjoy working ourselves. A business that becomes a better part of its community; through the treatment of its employees and clients. . (Utilitarianism pg.6, greatest good for the greatest number of people) We proposed to do so by instituting an ethical understanding among employees at a small business. To find out what they individually consider to be ethical, and to get everyone on the â€Å"same page† as far as ethics are concerned. Our idea originated in the fact that, large companies do something to assure that they’re employees all know and share common ethical guidelines; while small business seems to do nothing of he sort (for the most part). Large companies are known to give out employee handbooks. The handbook usually contains the ethical backbone produced and instituted by the company. UTC (United Technology Corporation) gives out a 24-page brochure about ethics that includes real world examples. With smaller businesses, the atmosphere tends to be a great deal more relaxed and comfortable. There are less people in the company, so seemingly less effort needs to be taken to keep everyone operating on the same level. (Utilitarianism pg.6 greatest good†¦. where as in a big company it's harder to achieve this goal) However, it seems to us that not having a shared ethics understanding is a lot like not having a shared vision statement. With AMC transfer, we decided to survey all employees in their head office, just to get an understanding of everyone's basic individual views on business ethics; and to see how their views varied from person to person. Our goal was not to take theses results and teach everyone proper business ethics as... Free Essays on Social Change Project Free Essays on Social Change Project Our group wanted to do something Different, we didn’t just want to institute something that our company â€Å"has† to do once a year to feel more a part of it’s community, to pay its dues so to speak. We wanted to help change the company from the inside out and make it a place that we would enjoy working ourselves. A business that becomes a better part of its community; through the treatment of its employees and clients. . (Utilitarianism pg.6, greatest good for the greatest number of people) We proposed to do so by instituting an ethical understanding among employees at a small business. To find out what they individually consider to be ethical, and to get everyone on the â€Å"same page† as far as ethics are concerned. Our idea originated in the fact that, large companies do something to assure that they’re employees all know and share common ethical guidelines; while small business seems to do nothing of he sort (for the most part). Large companies are known to give out employee handbooks. The handbook usually contains the ethical backbone produced and instituted by the company. UTC (United Technology Corporation) gives out a 24-page brochure about ethics that includes real world examples. With smaller businesses, the atmosphere tends to be a great deal more relaxed and comfortable. There are less people in the company, so seemingly less effort needs to be taken to keep everyone operating on the same level. (Utilitarianism pg.6 greatest good†¦. where as in a big company it's harder to achieve this goal) However, it seems to us that not having a shared ethics understanding is a lot like not having a shared vision statement. With AMC transfer, we decided to survey all employees in their head office, just to get an understanding of everyone's basic individual views on business ethics; and to see how their views varied from person to person. Our goal was not to take theses results and teach everyone proper business ethics as...

Free sample - BOCHK Risk Management and Financial Performance. translation missing

BOCHK Risk Management and Financial Performance. BOCHK Risk Management and Financial PerformanceBank of China (Hong Kong) Limited (BOCHK) The Bank of China (Hong Kong) Limited (BOCHK) is among the largest commercial banking groups in Hong Kong. The Bank has over 300 branches. Despite the Bank’s magnitude and systemic risk management, it witnessed a decline in operational income and suffered a negative shock in 2008. Thus, it is critical to analyze the Company’s risk management policies, the measurement and management risk, and comparing the 2008 results with the previous year’s results. The annual comparisons will utilize the Company’s calculated ROE, and will be critical in understanding the Bank’s performance relative to the earlier periods.  Ã‚  Ã‚   I. Overall Risk Management The Bank for International Settlements (2004) provides guidelines for conducting interest risk management. Additionally, it provides the measures that can be used in managing the overall risk to a financial institution. The analysis of BOCHK will be based on the standards provided in the above book. The aim of the analysis will be to determine whether, the company adheres to the international standards of risk management. BOCHK’s 2008 report indicates that BOCHK’s risk-management governance structure is structured to cover the entire operations of the business. The Bank adopts a swift and prudent manner in managing its various risk exposures. The risk management structure meets the standards stipulated by BIS. Initially, the report indicates that to align the management strategies with the corporate strategies the Chief Risk Officer (CFO) reports directly to the Risk Committee and the Chief Executive Officer (CEO). CFO’s responsibilities are to ensure the proper implementation of policies and procedures and oversee the effective management and control of risk. The Bank publishes reports on a regular basis; this guarantees a timely assessment of the effectiveness of the risk control strategies. The determination of the effectiveness of the risk control measures lies with the Board of Directors. Additionally, the independent operation between the business units and the risk assessme nt units complies with the principle of segregation of duties. Independence is both sufficient and necessary for risk management (Khambata , Dara 2006). However, BIS requires that risk control functions report directly to the Board of Directors. Otherwise, there is a risk that the CRO and CEOmay conspire to fake the risk management reports; this would impair the objectivity of the risk management system. Secondly, BOCHK’s principal banking subsidiaries Nanyang and Chiyu, execute their risk management strategies independently. They adopt similar risk management strategies with their parent company and report to BOCHK’s management on a regular basis. Additionally, the company’s 2004 report indicates that the Bank utilizes stress testing. Stress testing is a risk management tool used in estimating risk exposure under stressed conditions, which arise from extreme but plausible macroeconomic conditions.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Bank’s information systems are well established to provide timely reports within different levels of management. The CRO stipulates specific procedures concerning the promotion of new products and activities. In addition, BOCHK prudently enacts and administers operating limits so that risk exposures are consistent with internal policies. However, the mere existence of risk management mechanisms does not guarantee sufficiency or effectiveness. Enforcement of risk control policies should be applied to ensure an efficient risk management system. II. Measurement and Management of Credit Risk According to note 4 of BOCHK’s 2008 financial statements, BOCHK manages two broad classes of assets: loans and advances, and debt securities and derivatives. The Company’s overall assets exposure to credit risk in 2008 was HK$1,364,462 million. This figure includes HK$1,111,073 million on-balance-sheet exposures and HK$253,389 million off-balance-sheet exposures. To safeguard its corporate interest, BOCHK should manage the credit risk that is related to these assets in a prudent manner, especially during a financial crisis. This part of the report will investigate how BOCHK measures and manages credit risk of these assets. To minimize the credit risk BOCHK adopted credit approval policies and procedures (BOCHK, 2008). These measures are evaluated and updated by the risk management department and other relevant departments. Regarding the loans and advances, BOCHK adopts different credit control procedures and credit grading systems depending on the level of risk exposure to the customers. Additionally, the Company utilizes bank scorecard for financial institutions, credit-scoring system for retail credit transactions, and small business credit scorecard for small firms. BOCHK identifies credit concentration risk by industry, customer, geographically, and counterparty risk. For instance, the Bank’s â€Å"classified or impaired† advances are HK$1,792 million in Hong Kong, HK$323 million in Mainland China, and HK$23 million elsewhere. Besides, loans and advances are classified in five categories to improve the Bank’s ability to identify and assess credit risk: â€Å"pass,† †Å"special mention,† â€Å"substandard,† â€Å"doubtable,† and â€Å"loss.† For example, the total assets marked as substandard or below the high-risk category, accounted for 0.08% (HK$379 million). As for debt securities and securitized assets, the 2008 report indicates that BOCHK adopts external credit rating systems, such as Moody’s, to manage the Bank’s credit risk. Moody’s ratings for 2008 showed that 19.34% of BOCHK’s debt securities rated as â€Å"AAA† compared to 2.36% â€Å"lower than A3† debt securities. Particularly, BOCHK applied a comprehensive methodology to establish whether a certain asset/mortgage backed security, (ABS/MBS) is impaired. This was determined based on such factors as the mark-to-market price, external rating, and delinquencies. In addition to these factors, ABS/MBS are further required to pass the credit enhancement coverage ratio set by BOCHK. To manage credit risk in a dynamic market environment, the Bank has established policies, procedures, and appropriate credit risk limits. The corporate organization structure should define a clear line of authority and responsibility for supervising compliance with relevant rules (Khambata , Dara 2006). BOCHK’s Credit Risk Assessment Committee takes charge of assessing all credit-scoring facilities and reviewing reports submitted by risk management units independently. In addition, Khambata , Dara (2006) argue that collateral is another key element to manage credit risk. An independent appraiser determines the value of collateral for acquiring a new loan. Thus, the value of collateralized loans is determined based on the loan-to-value ratio limits. Additionally, BOCHK revalues and manages its collaterals periodically. BOCHK documents the acceptance criteria, the validity of collateral, and the revaluation of collateral on a regular basis. This is done to watch the status of co llateral. III. Financial Performance Comparison According to the 2008 reports, BOCHK’s ROA and ROE were 0.26% and 3.56% in 2008, and 1.48% and 16.64% in 2007 respectively. Additionally, BOCHK’s Profit Margin declined in 2008 to 5.97% compared to 24.24% in 2007. These were substantial declines within a year; they were attributed to the increase in impairment charges on the US non-agency residential mortgage-backed securities and other securities investment. Furthermore, a significant increase in Provision for loan losses/Total operating income from 2.22% to 24.95% and a dramatic decline in the investment-related commission income produced a negative impact on the Company’s profit in 2008. The sluggish investment environment that resulted from the global financial crisis led to increments in the provision for loan losses. As customers steered clear from the investment products, the investment, and insurance fee income decreased by 34.3% to HK$2,964 million. Note 12 shows that the net charge of impairment allowances increased from HK$1,448 in 2007 to HK$ 12, 573 in 2008. Despite the bleak financial environment, the ineffective credit risk management was still to blame for the sudden increase in loan impairment losses. From the perspective of overall risk management, it can be suggested that BOCHK should undertake more strict stress testing measures and scenario analysis to predict the sensitivity of risk factors with various degrees of severity. References Bank for International Settlements. (2004). Triennial Central Bank Survey: Foreign  Ã‚  Ã‚  Ã‚  Ã‚   Exchange and Derivatives Market Activity in 2004. BOCHK. (2008). Financial Report 2008. Khambata, M., Dara, Y. (2006). The Performance of Multinational Banking: Macro-Policy  Ã‚  Ã‚  Ã‚  Ã‚   Issues and Key International Concepts. (2nd ed.). New York: Quorum Books.