banking system1第二周.ppt

1、Teaching Objectives,Chinese Banking System The central bank-Peoples Bank of China Listening Practice Money, banks and economy Homework,Chinese banking system,The evolution of the Chinese banking system can be broadly divided into three phases: 1) The establishment of the Peoples Bank of China (PBC)

2、in December 1948 marked the beginning of the first phase, which was characterized by a mono-bank engaged in both policy and commercial banking operations.,Chinese banking system,2) The second phase began in 1984 when the State Council decided to make the PBC function as a central bank. Four speciali

3、zed banks were established and took over part of PBC business activities. A central banking system began taking shape, but the transformation of the PBC into a full-fledged 羽翼已就,成熟的central bank has turned out to be a lengthy process.,Chinese banking system,3) The third phase began in 1993 when the S

4、tate Council issued the Decision on Financial Reform. The PBC did not have a clear legal status until the enactment of the Law of the Peoples Bank of China in March 1995. The law provides the key functions of PBC.,Chinese banking system,Three policy banks (the State Development Bank, the Agricultura

5、l Development Bank of China and the Export and Import Bank of China) were established in 1994 to facilitate the separation of policy banking from commercial banking operations.,Chinese banking system,Through years of reform efforts, China has developed a banking system consisting mainly of the wholl

6、y state-owned commercial banks and joint-equity股份制 commercial banks under the supervision of the central bank.,As of the end of 2000, Chinas banking system had three policy banks, four wholly state-owned commercial banks and more than 100 joint-equity commercial banks.,The non-bank financial sector财

7、政部门 mainly consisted of trust and investment companies, securities firms, finance companies信贷公司 and insurance firms as well as many urban and rural credit cooperatives信用合作社.,The Central Bank,Terms and Title Functions of the Central Bank Monetary Policy in China,Name of Central Banks,1. Bank of + 国名=

8、中央银行 Bank of Canada/ Mexico/ England 2. Bank of China &Bank of America Peoples Bank of China Federal Reserve System联邦储备系统 (Fed/ FRS) Bundesbank(德国联邦银行，德国央行),Terms and Title,财政部:the Treasury/ the Ministry of Finance 财政部长:Chancellor of the Exchequer英国/ Treasury Secretary/ Finance Minister 央行行长:governo

9、r deputy governor/ President/ vice president,Terms and Title-USA,Fed has 12 districts in the USA. Regional Federal Reserve Bank -地区联邦储备银行-member banks Federal Reserve (美联储)-Board of Directors(联邦储备委员会)-委员会的成员叫董事(governor) -联邦储备银行行长(president),Terms and Title-Translation,Federal Reserve President Alan

10、 Greenspan is a conductor with a style all his own. - Business Weekly 美联储主席格林斯潘是一个独具风格的领导者。,Central bank 中央银行,A government monetary authority that issues currency and regulates the supply of credit and holds the reserves of other banks and sells new issues of securities for the government.,Act/ cont

11、rol/ fix/ function/ implement / influence/ issue/ supervise,1. as banks for the government and for other banks. 2. monetary policy - either the governments, as in Britain, or their own, if they are independent, as in Germany and the USA. 3. the money supply. 4. the minimum interest rate.,Fix,Act/ co

12、ntrol/ fix/ function/ implement / influence/ issue/ supervise,5. as lender of last resort最后贷款人 to commercial banks with liquidity清偿债务能力 problems. 6. coins and bank notes. 7. exchange rates by intervening in foreign exchange markets. 8. the banking system.,Act,Issue,Influence,Supervise,New Functions

13、of central bank,1. coordinator and the central operator of a rescue system. 2. to combine with fiscal policy to bring about full employment, price stability. 3. the exercise of monetary policy which becomes the overriding objective. 4. influence foreign exchange rate by intervening foreign exchange

14、market.,Translation,The Reserve Bank tries to play a role in providing a comfort cushion by intervening from time to time in the foreign exchange market with a view to limiting its more extreme fluctuations.,Translation,储备银行试图在减缓市场冲击力方面发挥作用，对外汇市场不时进行干预，目的是要限制它更剧烈的动荡。 cushion: Something that relieves

15、 an adverse effect:缓冲：缓和不利后果的东西 fluctuation：波动, 上下移动,Monetary Policy & Fiscal Policy,Fiscal policy is the use of government expenditure and revenue collection征税 to influence the economy. Fiscal policy can be contrasted with monetary policy, which attempts to stabilize the economy by controlling inte

16、rest rates and the supply of money.,Tools of Monetary Policy,monetary policy 货币政策/ open market operations 公开市场业务/ reserve requirement 存款准备金要求 money supply 货币供应量 discount rate 贴现率/ interest rate 利率 raise / hike / lift interest rate提息 cut interest rate降息,Tools of Monetary Policy,Open Market Operation

17、Reserved Requirement: Changes in reserve requirements affect the money supply by causing the money supply multiplier to change Discount Policy: Discount policy, which primarily involves changes in the discount rate, affects the money supply by affecting the volume of discount loans and the monetary

18、base.,Open Market Operation,The open market operation is a policy-based measure for the central bank to buy or sell aftermarket securities in the open market to increase or reduce currency supply. 公开市场业务是指中央银行在公开市场上买进或卖出二级市场债券用以增加或减少货币供应量的一种政策手段,Open Market Operation,一级市场primary market：也称发行市场，是通过发行股

19、票进行筹资活动的市场。 二级市场secondary market：也称流通市场，是已发行股票进行转让的市场。,Reserved Requirement,存款准备金是指金融机构为保证客户提取存款和资金清算需要而准备的在中央银行的存款，中央银行要求的存款准备金占其存款总额的比例就是存款准备金率（Deposit Reserve Ratio）。,Reserved Requirement,准备金本来是为了保证支付的，但它却带来了一个意想不到的“副产品”，就是赋予了商业银行创造货币的职能，可以影响金融机构的信贷扩张能力，从而间接调控货币供应量。现已成为中央银行货币政策的重要工具，是传统的三大货币政策工具之

20、一。 实行存款准备金的目的是为了确保商业银行在遇到突然大量提取银行存款时，能有相当充足的清偿能力。,Discount Rate,贴现率是指将未来支付改变为现值所使用的利率，或指持票人以没有到期的票据向银行要求兑现，银行将利息先行扣除所使用的利率 Example: A discount rate of 10% applied to a $100 sum expected to be received in one year results in a present value of $90.,Discount Rate,现在有人欠你10万元，但是要一年后才给你，根据当今市场的贴现率假设是5%，那

21、相当于是现值的9万5千元，你可以考虑是不是要提高他欠钱的利息来弥补这部分损失,Money, banks and economy,1. inflation, speculation, mortgage 2. property market 楼市 real estate market 房地产市场 down payment 分期付款的首次款 monthly payment 月付款数 mortgage rate 抵押利率,Inflation（通胀）,Inflation, in classical economics, is an increase in the total stock of money. As the consequence of that, so called price inflation occurs and is revealed in a rise in general level of prices of goods and services over time. 相关新闻 ,mortgage,抵押: to give a claim to leg