金融 6-Merchant banks.pptVIP

Section 6Merchant banks 商人银行 9.1 Introduction to section 5本节内容 Provides an overview of the secondary banking system in the UK The features of merchant banks The functions of merchant banks Foreign banks in the UK Overseas banks in the UK Consortium banks Previously review 前节回顾 Banks Banks 9.3 Secondary Banking Page 200 Why are secondary banks often referred to as wholesale bank? Let’s focus on the features of secondary banking. The features of secondary banks The features of secondary banks Summary 批发银行的显著特征 Prominent Features Of Wholesale Banking low volume 低量 high value 高值 9.4 Merchant Bank 商人银行 Start With Investment Banks 让我们从投资银行（简称投行）开始 investment bank投资银行 Definition An investment bank is a financial institution that assists corporations and governments in raising capital by underwriting and acting as the agent in the issuance of securities. An investment bank also assists companies involved in mergers and acquisitions, divestitures, etc. Underwriting 证券承销 Underwriting refers to the process that a investment bank uses to assess the eligibility of a customer to receive their products such as equity capital. 证券经营机构惜助自己在证券市场上的信誉和营业网点，在规定的发行有效期限内将证券销售出去，这一过程称为承销。 The Functions of Securities Underwriter证券承销商的职能 the difference between investment banks and commercial banks 投行与商业银行之比较 What is the difference between investment banks and merchant banks? Investment banks VS Merchant banks 英国的Merchant banks 英国是当今世界投资银行历史最悠久的国家之一，在英国，投资银行叫商人银行。 从职能上看，英国的商人银行与美国的投资银行不完全相同，英国的投资银行不仅从事证券业务，还从事普通商业银行的存贷款业务，可以归类为存款机构。 英国的商人银行也被称为Acceptance Houses. Main Functions Of Merchant Banks英商人银行的主要职能 Page 208 Underwriting and acting as the agent in the issuance of securities. Advise on new share issues and acting as issuer/underwriter 该职能等同于美国投行 Accept deposits Provide finance through acceptance credits Provide financial advice and investment management Investment management Deal in currencies, bullion and commodities for themselves or clients Investme