CorporateStock文件材料教学稿件.ppt

Financial Assets Purchased by Consumers Source: Board of Governors of the Federal Reserve System 23 - * The Growing Menu of Savings Instruments Available to Consumers Today One of the most important trends affecting consumer savings and lending today is the explosion of new financial instruments. Many of these new instruments offer the consumer greater financial flexibility, as well as the potential for higher rates of return. The Growing Menu of Savings Instruments Available to Consumers Today Examples: NOW accounts / share drafts automatic transfer services (ATS) share accounts at money market mutual funds consumer cash management services universal life insurance individual and Keogh Plan retirement accounts Roth and Education IRAs money market and market-index CDs variable-rate annuities and insurance plans Consumers as Borrowers of Funds Source: Board of Governors of the Federal Reserve System Is Consumer Borrowing Excessive? Households and Nonprofit Organizations Amounts outstanding at year-end ($ billions) 1970 1980 1990 2000 2001 Total financial 2,572.3 6,643.0 14,853.9 33,679.9 32,097.5 assets Total debts 478.7 1,455.5 3,746.8 7,507.1 8,083.1 (liabilities) Difference: 2,093.6 5,187.5 11,107.1 26,172.8 24,014.4 assets -liabilities Ratio of 18.6% 21.9% 25.2% 22.3% 25.2% liabilities to assets Data Source: Board of Governors of the Federal Reserve System Categories of Consumer Borrowing Financial analysts frequently divide the credit extended to consumers into three broad categories. Residential mortgage credit – used to support the purchase of homes Installment credit – used primarily for long-term nonresidential purposes Noninstallment credit – used for short-term cash needs Home Equity Loans Like traditional home mortgages, a home equity loan is secured by a borrower’s home. Unlike traditional home mortgages however, many home equity loans consist of a revolving credit line that the borrower can draw on for purchases of any goods or services. Credit and Deb