商业银行管理1——introduction of FI

这是一篇关于商业银行管理1——introduction of FI的思维导图，主要内容有financial institution、commercial bank。

1-overview of financial institutions

• financial institution
  • 构成
    • depository institution(存款机构)
      • commercial bank
        • largest group
      • non-bank depository institution
        • saving bank(储蓄银行)
          • 商业银行和储蓄银行的区别： 
    • non depository institution
      • finance company(信贷公司)
      • security brokerage &investment banking(券商和投行)
      • fund:mutual&hedge(基金)
      • insurance organization(保险)
  • why FI exists?
    • inforamtion cost
      • principal-agent problem
        • agency/monitoring cost
          • 从FI不存在的角度出发
          • 没有监督时间/途径/经验技巧
      • FI as delegated monitor
        • incentive:economies of scale
      • information producer
        • allow more control&monitoring power
        • frequently updated information 搜集信息速度快
        • replace inflexible contract
        • 以FI发布的bank loan举例
    • liquidity risk
    • price risk
      • eg.demand deposit 通过制定交易账户存款合同，如活期存款，随时都能提取
      • eg.mutual funds 允许普通人联合投资大宗交易
    • advantage in diversification
      • 通过组建portfolio，15及以上securities就能有效降低风险
  • functions
    • brokeage
      • 相当于投资者的投资推荐人，只提供建议，自己没有风险
    • asset transformation
      • finance purchase the primary security by sell the secondary ones 在一、二级市场充当融资的角色 自己参与了融资过程，所以是有风险的
        • 一级证券：claims of commercial corporation,such as equity,bond 二级证券：claims of FI,such as deposit,insurance policy. 
  • specialness
    • general areas:
      • transaction cost service
        • lower commission charge低佣金费用
        • lower buy-sell spread低买卖价差
      • maturity intermediation service
        • can bear the risk of mismatched assets&liability
    • institutional-specific:
      • money supply transmission
        • 哪些属于money supply：M1/M2/deposit insurance存款保险
        • FI'liability对货币政策很重要
      • credit allocation
        • 需要承担社会责任，投资某些领域：房地产/农业
      • intergenerational(代际) wealth transfer
        • eg.life insurance&pension funds
      • payment service
      • denomination intermediation中间面额
        • 给你交易你原本支付不了的大面额交易的权利
  • regulation
    • 原因
      • systemic risk
        • maybe negative externality负外部性
      • depositor's representative
        • FI也可能出现代理人问题
    • 措施
      • safety and sound
        • four layers of protective mechanism
          • not costless!
          • 1:encourage diversifying assets
          • 2:capital requirement
          • 3:guaranty funds担保基金
          • 4：monitoring&surveillance
      • monetary policy
        • minimum level of reserve cash 最低保证金
          • FI把这看作一种tax
      • credit allocation
        • price&quantity restriction 就是多给社会发福利
          • may result in private cost
      • consumer protection
        • 消除歧视，使不同群体都有lending的机会
      • investor protection
        • 监管是否有滥用/披露/渎职/受信托的现象
      • entry
        • 设置市场准入门槛，对existing company有利
  • trend
    • from "originate and hold" to "originate to distribute"
      • advan
        • loan securitisation贷款证券化
          • 将缺乏流动性，具有稳定现金流的资产汇集起来，转变为可在市场上出售和流通的证券。 是一个融资过程。
        • fund short-term loan(sell it quickly)
      • disadvan
        • lower incentives to monitor,risk management reduce
• commercial bank
  • definition
    • accept deposits and makes consumer,commercial,real estate loans
      • 与credit/saving institution最大的区别： banks have more varied asset&liability
  • composition
    • community bank 社区银行
      • narrower but more personalized
        • decreasing
    • (super-)regional 地方分支机构
      • access to interbank or federal funds market
        • federal funds market
          • interbank market(银行之间的市场) for short-term borrowing and lending of bank reserves
      • headquartered in larger regional city
    • money-centered bank 货币中心银行
      • industry leader 通常服务对象是政府，机构，其他银行。而不面对普通借贷人
        • what makes a bank a money-centered bank?
          • 不取决于asset or lending size but location & its heavy reliance on non-deposit sources of funds.
      • have tough global competition
  • bank size and asset concentration
    • US banking system:very large banks with a large number of very small banks 极少数大公司和非常多的小公司
      • merger & acquisition (M&A)兼并
      • regulatory policy
        • eg. riegle-neal act1994 允许建立州支行
  • services to public
    • currency exchange
    • discounting commercial note&making business loan 放贷
      • discounting commercial note:资金的需求者将自己手中未到期的票据向银行/贴现公司要求变成现款
    • offer saving deposit/checking account(活期存款) 存款
    • safekeeping&certification of value
    • support government activity with credit
    • offer trust service
      • eg. act as trustee受托人： let legal heirs receive their rightful inheritance
  • trend
    • service proliferation激增
      • non-interest income from on-/off-balance sheet activity
    • rising competition
    • deregulation,then reregulation
    • others
      • techonological and automation consolidation & expansion globalization convergence融合：指现在很多金融机构都逐渐趋同，提供相似的金融服务