Chapter 9商业银行学中英文双语课件.pptVIP

Chapter 9Conceptual Overview of Bank Assetand Liability Management §1 Pool of Funds Approach While the lineage of this allocation scheme can be traced to the early days of commercial banking, its primary implementation occurred after the Great Depression. Demand deposits were by far the largest source of bank funds. Between 1935 and 1955, for example, demand deposits averaged 75.2% of total deposits for all insured commercial banks in the U.S. The basic idea underlying this method is that individual bank liabilities can be aggregated into a pool of funds and, consequently, treated as a single source. That is, the level of the funds pool was viewed as being determined by market factors (e.g., business activity, population growth, and monetary policy) external to the bank decision-making process. The pool of funds approach begins with the establishment of liquidity standard. In general, this standard is based on the experience, judgment, and intuition of senior management. the first allocation of funds is made to primary reserves. This conceptual category includes vault cash, deposits at the Federal Reserve Bank, balances with other depository institutions, and cash items in the process of collection. The next allocation from the pool of funds is to secondary reserves. These reserves provide protective liquidity for forecastable cash needs as well as for more remote contingencies. Secondary reserves consist of short-term open-market securities such as U.S. Treasury bills and notes, agency obligations, and bankers’ acceptances. Once the bank has provided sufficient liquidity, funds are allocated to customer credit needs. All legitimate loan requests should be fulfilled within the funds constraint. Having satisfied the credit needs of the community, any remaining funds are allocated to long-term open-market securities (e.g., treasury bonds). Firstly it furnishes no basis for estimating the liquidity standard. Secondly, no consideration is given to the volat