De facto standard

A de facto standard is a custom, convention, product, or system that has achieved a dominant position by public acceptance or market forces (such as early entrance to the market). De facto is a Latin phrase that means in fact (literally by or from fact) in the sense of "in practice but not necessarily ordained by law" or "in practice or actuality, but not officially established", as opposed to de jure.

The term de facto standard is used in contrast with obligatory standards (also known as "de jure standards"); or to express the dominant voluntary standard, when there is more than one standard available for the same use.

In social sciences, a voluntary standard that is also a de facto standard is a typical solution to a coordination problem. The choice of a de facto standard tends to be stable in situations in which all parties can realize mutual gains, but only by making mutually consistent decisions. In contrast, an enforced "de jure standard" is a solution to the prisoner's problem.

De facto

De facto (/dᵻ ˈfæktoʊ/, /deɪ-/,Latin: [deː ˈfaktoː]) is a Latin expression that means "in fact, in reality, in actual existence, force, or possession, as a matter of fact" (literally "from fact"). In law, it often means "in practice but not necessarily ordained by law" or "in practice or actuality, but not officially established". It is commonly used in contrast to de jure (which means "according to (the) law"; literally "from law") when referring to matters of law, governance, or technique (such as standards) that are found in the common experience as created or developed without or contrary to a regulation. When discussing a legal situation, de jure designates what the law says, while de facto designates action of what happens in practice.

Examples

Segregation (during the Civil Rights era in the United States)

De facto racial discrimination and segregation in the USA during the 1950s and 1960s was simply discrimination that was not segregation by law (de jure).

Jim Crow Laws, which were enacted in the 1870s, brought legal racial segregation against black Americans residing in the American South. These laws were legally ended in 1964 by the Civil Rights Act of 1964.

De facto (disambiguation)

De facto is a Latin expression that means "by [the] fact".

De Facto may also refer to:

See also

NBNK Investments

NBNK Investments plc is a UK-based financial investment company formed by Lord Levene and a consortium of senior business figures in 2010. The aim of the company was to build a new large UK retail bank primarily through the acquisition of other banks.

As of 2014 the company had failed to acquire any banking assets and had considered winding up as it had been unable to acquire the ones it had been interested in. However after new investment from W.L. Ross in 2012 it continued to operate and in May 2014 said that it was still looking for potential acquisitions.

History

Foundation

The company was formed by Lord Levene and a consortium of City executives as a vehicle to acquire UK banking assets in domestic banking and eventually wealth management. On 2 July 2010 the company was incorporated under the name of De Facto 9999 plc, and a month later on 2 August the company name was changed to NBNK Investments plc. The company name, NBNK, is a of portmanteau of "New Bank" (NewBaNK), and the company website primarily used the colour purple.