Mishkin_02_C12课件.pptVIP

Chapter 12 Banking Industry: Structure and Competition 银行业：结构与竞争 FIGURE 1 Time Line of the Early History of Commercial Banking in the United States图1 美国商业银行早期历史的时间线索 Historical Development of the Banking System银行体系的发展历史 Bank of North America chartered in 1782. 1782年北美银行注册成立 Controversy over the chartering of banks. 对于银行执照颁发权力的争论 National Bank Act of 1863 creates a new banking system of federally chartered banks. 《1863年国民银行法》创建了由那些在联邦注册的银行所构成新的银行体系 Office of the Comptroller of the Currency 通货监理署 Dual banking system 双重监管体系 Federal Reserve System is created in 1913. 1913年建立了联邦储备体系 Primary Supervisory Responsibility of Bank Regulatory Agencies银行监管机构的主要监管职责 Federal Reserve and state banking authorities: state banks that are members of the Federal Reserve System. 联邦储备体系和各州银行监管当局：监管那些是联邦储备体系成员的州银行 Fed also regulates bank holding companies. 联邦储备体系还负责监管银行持股公司 FDIC: insured state banks that are not Fed members. 联邦存款保险公司：监管那些在联邦存款保险公司投保却不是联邦储备体系成员的州银行 State banking authorities: state banks without FDIC insurance. 各州银行监管当局：监管那些没有投保联邦存款保险的州银行 Financial Innovation and the Growth of the “Shadow Banking System”金融创新和“影子银行体系”的发展 Financial innovation is driven by the desire to earn profits. 金融创新是由盈利意愿驱动的 A change in the financial environment will stimulate a search by financial institutions for innovations that are likely to be profitable. 金融环境的变化会推动金融机构进行具有赢利性的创新 Financial engineering 金融工程 Responses to Changes in Demand Conditions: Interest Rate Volatility适应需求变化的金融创新：利率波动性 Adjustable-rate mortgages 可变利率抵押贷款 Flexible interest rates keep profits high when rates rise在利率上升时，获得更高的利息收益 Lower initial interest rates make them attractive to home buyers 其初始利率更低，因此受到居民的普遍欢迎 Financial Derivatives 金融衍生工具 Ability to hedge interest rate risk 对冲利率风险的能力 Payoffs are linked to previously issued (i.e. derived from) securities. 其盈亏与之前发行的证券密切相关（即来自于后者） Responses to Changes in Supply Conditions: Information Technology适应供给变化的金融创新：信息技术 Bank credit and debit cards 银行信用卡和借记卡 Improved compu