第三章商业银行负债管理(对外经济贸易大学 ).pptVIP

第三章 商业银行负债管理 对外经济贸易大学 金融学院 何自云 Chapter 2 Managing Liabilities The Composition of Bank Liabilities Characteristics of Small Denomination Liabilities Characteristics of Large Denomination Liabilities Funding Costs and Banking Risk 储蓄管理规定 人民币银行结算账户管理办法 美国存款保险制度及其启示 (Federal Deposit Insurance) Composition of Bank Liabilities Different types of liabilities Interest-bearing and non-interest-bearing Transaction accounts: Low explicit interest rates High non-interest processing costs Other accounts: Limited check writing capabilities Higher rates Liabilities with long-term fixed maturities Highest interest rates Lowest non-interest transaction Prior to 1960 Banks relied on standardized demand and savings deposits as their primary source of funds. Gov’t determined allowable interest rates, and all banks paid the maximum. Banks compete for funds only by differentiating the quality of service and paying implicit interest. Primary strategy: office and branches. From 1961 on 1961: Citibank, CD Market rate fell below the ceiling. Other market rate instruments emerged. Today, virtually all bank liabilities are free of regulatory restrictions on allowable rates, maturities, and minimum denominations. Banks can offer any deposit product. Price competition is the dominant consideration. Problems created by the freedom Customers have become much more rate conscious: interest elastic. Customers prefer shorter-term deposits strongly: lower interest rate risk. Liabilities become more rate sensitive Pricing assets becomes more difficult Small denomination liabilities Under $100,000 (v.s. multiples of $1 million) Normally held by individual investors Not actively trade in the secondary market. Transactions accounts Demand deposits Interest-checking Negotiable orders of withdrawal, NOWs Automatic transfers from savings, ATS Money market deposit accounts, MMDA Banks differentiate between deposits in the number of checks permitted, minimum denomination required, and the interest paid.