货币银行学 米什金 [兼容模式].pdfVIP

Chapter 13 Banking Industry:Banking Industry: Structure and CompetitionCompetition Historical Development of the Banking SystemBanking System •• Bank of North America chartered in 1782Bank of North America chartered in 1782 • Controversy over the chartering of banks. • National Bank Act of 1863 creates a new bankingg syystem of federallyy chartered banks – Office of the Comptroller of the Currency – Dual banking systemDual banking system • Federal Reserve System is created in 1913. 12-2 © 2013 Pearson Education, Inc. All rights reserved. Figure 1 Time Line of the Early History of Commercial Banking in the United StatesCommercial Banking in the United States 12-3 © 2013 Pearson Education, Inc. All rights reserved. Primary Supervisory Responsibility of Bank Regulatory AgenciesBank Regulatory Agencies •• Federal Reserve and state bankingFederal Reserve and state banking authorities: state banks that are members of the Federal Reserve Systemthe Federal Reserve System. • Fed also regulates bank holding companies. • FDIC: insured state banks that are not Fed members. • State banking authorities: state banks without FDIC insurancewithout FDIC insurance. 12-4 © 2013 Pearson Education, Inc. All rights reserved. Financial Innovation and the Growth of theof the “ Shadow Banking SystemShadow Banking System” •• Financial innovation is driven by the desireFinancial innovation is driven by the desire to earn profits • A change in the financial environment will stimulate a search by financial institutions for innovations that are likely to be profitable – Financial engineering 12-5 © 2013 Pearson Education, Inc. All rights reserved. Responses to Changes in Demand Conditions: Interest Rate VolatilityConditions: Interest Rate Volatility