第二讲投资银行的资产负债表PPT课件.pptxVIP

第二讲 投资银行的资产负债表 及其业务;;New Merrill Lynch in 2009 ;;一、美林集团公司架构;美林主要的控股子公司;;;;二、投资银行的资产负债表（以美林为例）;;;;;与证券交易直接相关的资产与负债：Securities Financing Transactions（包括重售与回购以及借入证券与借出证券）; Trading Assets and Liabilities ; Other Receivables and Payables;Brokers and Dealers Receivables and Payables Receivables from brokers and dealers include amounts receivable for securities not delivered by Merrill Lynch to a purchaser by the settlement date (fails to deliver), deposits for securities borrowed, margin deposits, commissions, and net receivables arising from unsettled trades. Payables to brokers and dealers include amounts payable for securities not received by Merrill Lynch from a seller by the settlement date (fails to receive), deposits received for securities loaned, and net payables arising from unsettled trades. ;Interest and Other Receivables and Payables Interest and other receivables include interest receivable on corporate and governmental obligations, customer or other receivables, stock borrowed transactions, receivables from commissions and fees, and income taxes. Interest and other payables include interest payable for stock-loaned transactions, long-term borrowings, and amounts payable for employee compensation and benefits, restructuring reserves, and income taxes. ;Cash and Cash Equivalents;Cash and Securities Segregated for Regulatory Purposes or Deposited with Clearing Organizations;Investment Securities;Loans, Notes, and Mortgages;Separate Accounts Assets and Liabilities;Equipment and Facilities;Commercial Paper and Short- and Long-Term Borrowings;Deposits;三、投资银行的损益表;Principal transactions;Investment banking;Commission;Asset management and portfolio service;2007花旗集团资产负债结构;2007年花旗集团收入构成;四、投资银行的主要业务;Merrill Lynch Co., Inc.;;The services provided by MerrilLynch;;;;;;Goldman Sachs;;;The services provided by Goldman Sachs（2008）;The services provided by Goldman Sachs（2009）;四、投资银行的性质及经营管理特点;直接金融的投资银行;间接金融中的商业银行;;直接融资与间接融资;直接