The Australian Property Institute ( API ) is a professional industry body representing residential, commercial and plant and machinery valuers , analysts, fund managers and property lawyers.
7-567: The API was originally formed in 1927 as the Commonwealth Institute of Valuers. Multiple Australian financial institutions require property professionals who carry out mortgage valuation work to be members of the API. The Commonwealth Institute of Valuers had 3225 members in 1972. The API provides certifications to its members reflecting their specific field of expertise. Such Certifications are required by some Australian States to practice in
14-583: A heavily regulated environment because they are critical parts of countries' economies, due to economies' dependence on them to grow the money supply via fractional-reserve banking . Regulatory structures differ in each country, but typically involve prudential regulation as well as consumer protection and market stability. Some countries have one consolidated agency that regulates all financial institutions while others have separate agencies for different types of institutions such as banks, insurance companies and brokers. Countries that have separate agencies include
21-583: A trend toward homogenisation of financial institutions, meaning a tendency to invest in similar areas and have similar business strategies. A consequence of this might be fewer banks serving specific target groups, and small-scale producers may be under-served. This is why a target of the United Nations Sustainable Development Goal 10 is to improve the regulation and monitoring of global financial institutions and strengthen such regulations. Standard Settlement Instructions (SSIs) are
28-843: The United States , where the key governing bodies are the Federal Financial Institutions Examination Council (FFIEC), Office of the Comptroller of the Currency – National Banks, Federal Deposit Insurance Corporation (FDIC) State "non-member" banks, National Credit Union Administration (NCUA) – Credit Unions, Federal Reserve (Fed) – "member" banks, Office of Thrift Supervision – National Savings & Loan Association, State governments each often regulate and charter financial institutions. Countries that have one consolidated financial regulator include: Norway with
35-501: The agreements between two financial institutions which fix the receiving agents of each counterparty in ordinary trades of some type. These agreements allow the related counterparties to make faster operations since the time used to settle the receiving agents is conserved. Limiting each subject to an SSI also lowers the likelihood of a fraud . SSIs are used by financial institutions to facilitate fast and accurate cross-border payments. Financial institutions in most countries operate in
42-627: The specific field. These Certifications are: API publications include The Australia & New Zealand Property Journal , the Professional Practice Manual and Valuation Principles and Practices. Members of the Institute are bound by a code of ethics, rules of conduct, and professional practice standards. The API has reciprocity agreements with the following bodies These reciprocity agreements provide API members with portable skills and qualifications allowing them to practice throughout
49-614: The world. The National Office of the Australian Property Institute is located at 3/60 York Street, Sydney NSW 2000. Financial institution A financial institution , sometimes called a banking institution , is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institution: Financial institutions can be distinguished broadly into two categories according to ownership structure: Some experts see
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