货币银行英文复习资料Chapter_Five.ppt

chapter five financial system and institutions,sketch of chapter five,general classifica- tion of financial institutions,roles played by financial intermediaries,classification of financial institutions,bank f.i.,central banks,depositories,specialized banks,import & export banks,development banks,savings banks,real estate mortgage banks,agricultural banks,nonbank f.i.,insurance companies,investment banks,pension funds and retirement funds,investment funds,credit cooperatives,finance companies,trust & investment companies,equity fund,bond fund,money market fund,industrial funs,futures fund,option fund,consumer finance c.,business finance c.,sale finance companies,chinas financial institutions,financial systems in major developed countries,bank f.i.,nonbank f.i.,us,uk,japan,pboc,commercial banks,policy banks,insurance companies,trust &. investment companies,securities institutions,finance companies,postal savings institutions,financial leasing companies,asset management companies,investment funds,commercial banks,credit cooperatives,ex &. im bank of china,sdbc,adbc,leasing houses,securities institutions,s.1.classification of financial institutions,1.1. the roles played by financial intermediaries 1, to reduce transaction costs. 2, to avoid risks. 3, to overcome the problem of asymmetric information adverse selection moral hazard,1.2. classification of financial institutions s.1.classification of financial institutions,the central bank and other supervisory organs 1, bank financial institutions commercial banks depositories credit cooperatives specialized banks,import &. export banks,development banks,savings banks,real estate mortgage banks,agricultural banks,1.2. classification of financial institutions s.1.classification of financial institutions,1, bank financial institutions 2)specialized banks (4) real estate mortgage banks real estate mortgage banks, also called mortgage banks, are financial institutions that specialize in mortgage loans of real estate . real estate mortgage banks get their funds by issuing mortgage securities, they do not take deposits. the funds gathered are used to extend two kinds of loans: long-term loans to landlords with land as collateral and long-term loans to house owners with real estate as collateral.,1.2. classification of financial institutions s.1.classification of financial institutions,(5) savings banks savings banks are financial institutions that specialize in receiving households savings deposits and time deposits. with these funds savings banks buys various assets, ranging from granting individuals consumer loans in the form of hire purchase, extending medium and long-term real estate mortgage, to purchasing government securities, corporate bonds and stocks . in us savings banks are savings and loan associations, credit unions and mutual savings banks,s.1.classification of financial institutions,1.2. classification of financial institutions 1, non-bank financial institutions insurance companies investment banks pension funds &. retirement funds investment funds finance companies trust &. investment companies leasing houses,open-end fund,closed-end fund,s.1.classification of financial institutions,1.2. classification of financial institutions 1, non-bank financial institutions funds: such institutions acquire funds by selling shares to the public and use the proceeds to purchase diversified portfolio of stocks and bonds and pay dividends to investors or holders of fund shares.,s.1. classification of financial institutions survey of investment funds,balanced fund,growth & balanced fund,s.2.chinas financial system & its financial institutions,the central bank-the peoples bank of china 2.1. bank financial institutions in china commercial banks ex. & im bank of china policy banks state development bank of china agricultural development bank of china policy banks are set up with funds invested by the government and are engaged in policy financial businesses according to the governments policy intention. psbc: postal savings bank of china,credit cooperatives,big five :icbc.boc,abc.cbc &psbc,other smaller ones,s.2. chinas financial system &. its financial institutions,2.2.non-bank financial institutions in china insurance companies trust &. investment companies securities firms finance companies financial leasing companies asset management companies,s.2. chinas financial system &. its financial institutions,2.3. foreign financial institutions in china. foreign financial institutions in china include both representative offices and branches of foreign financial institutions. a system of diversified foreign financial institutions which includes sole foreign financial institutions, joint venture ones,finance companies with a few insurance companies and investment banks will be developed by and by in china.,s.2. chinas financial system &. its financial institutions,2.4. reform on chinas financial system 1, the end of 1948-1978 the establishment of the peoples bank of china in dec. 1948 marked the beginning of the phase, which was characterized by mono-bank engaged in both policy and commercial banking operations.,s.2. chinas financial system &. its financial institutions,2.4. reform on chinas financial system 2, 1978-present 1)1978-1984 during this period three state-owned specialized banks was restored or set up. they are bank of china engaged in foreign trade and investment, construction bank of china engaged in fixed-asset investment and the agricultural bank of china engaged in agricultural credit. in1984 the industrial and commercial bank of china was set up in 1984, taking over the rest of the commercial business of the pboc ,meanwhile the state council decided to make the pboc function as a central bank. also a number of medium and small regional shareholding commercial banks were established.,s.2. chinas financial system &. its financial institutions,2)1985- 2003 in 1994 icbc,boc,abc and cbc were transformed into state-owned commercial banks, and three policy banks, the agricultural development bank of china, the state development bank , and the export and import bank of china were set up , taking over policy business from the “big four”.,s.2. chinas financial system &. its financial institutions,3)2004-prsent three former state-owned commercial banks began equity reform and succeeded in listing.,summary,1,to promote economic efficiency financial institutions play a very important roles in an economy.the three functions of financial institutions are: to reduce transaction cost; to avoid risks and overcome the problem of asymmetric information which occurs in two forms:adverse selection and moral hazard. 2, every country in the world has a large and complicated financial system which includes both bank and nonbank financial institutions. in the system the central bank is the core of financial intermediaries. nowadays the boundary between bank and non-bank financial institutions has been blurred.,review,key 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