【PPT精品课件】货币金融学7版英文课件--10-大学课件2.pptVIP

Chapter 10 Banking Industry: Structure and Competition Historical Development of the Banking Industry Financial Innovation Innovation is result of search for profits Response to Changes in Demand Major change is huge increase in interest-rate risk starting in 1960s Example: Adjustable-rate mortgages Financial Derivatives Response to Change in Supply Major change is improvement in computer technology 1. Increases ability to collect information 2. Lowers transaction costs Examples: 1. Bank credit and debit cards 2. Electronic banking facilities 3. Junk bonds 4. Commercial paper market 5. Secu