1、Banker,中國的銀行架構(gòu),中央資本,人民銀行(央行) 及四大商業(yè)銀行 ： - 中國建設(shè)銀行 - 中國工商銀行 - 中國銀行 - 中國農(nóng)業(yè)銀行,非國有資本控股銀行,外資股本,城市商業(yè)銀行 (約139家) 例如： 上海銀行 北京銀行 廣州銀行 山西大同 市商業(yè)銀行,股份制商業(yè)銀行 (約13家) 例如： 招商銀行 平安銀行 光大銀行,外資銀行 (約32家) 例如： 東亞銀行(中國)有限公司 匯豐銀行(中國)有限公司 法國興業(yè)銀行(中國)有限公司,Banking,2.1 Financial institutions 2.2 Personal banking 2.3 Commercial and r

2、etail banking 2.4 Investment banking 2.5 Central banking 2.7 Interest rate 2.8 Money market 2.9 Money supply and control,2.1 Financial institutions,most banks are specialized in the following areas: Retail banks(零售銀行) or commercial banks（商業(yè)銀行）: Make loans, receive deposits; Investment banks（投資銀行 ）:

3、Give financial advice; Raise capital; Organize mergers and takeover bids; Insurance companies（保險公司）: Offer financial protection against risks such as accidents, theft, fire, damage,etc Building societies（建房互助協(xié)會）. Specialized in mortgages for house buyers.,Private bank: manage the assets of wealth in

4、dividuals Investment company: invest customers money in funds and other companies the currency market: buy and sell foreign currency The stock market: stocks and shares of public companies are trade Accounting and auditing: examine financial records to make sure they are accurate and in accordance w

5、ith the law.,Deregulation,In 1980s and 90s, the financial industry changed radically because of the deregulation(縮小國家對經(jīng)濟干預(yù)的范圍). Before deregulation, commercial banks in US, Britain and Japan was forbidden to do investment banking business. Today, many international conglomerates（大集團） offer a complet

6、e range of financial services to satisfy all financial needs.,underwriting 承購包銷;保險業(yè),conglomerate大型聯(lián)合企業(yè) repeal 撤銷(決議等);廢除(法令等);取消Many voted for the repeal of that property law.,Specialized banks（專業(yè)銀行）,Central banks（中央銀行）: issue currency and carry out the governments financial policy. Private banks（私人

7、銀行）: manage the assets of rich people or high net worth individuals. Clearing banks（清算銀行）: pass cheques and other payments through the banking system. Non-bank financial intermediaries（非銀行金融中介）: offer products like personal loans, credit cards and insurance, such as car manufacturers, department sto

8、res.,Exercises: which types of banks do the following belong to?,1. The federal reserve was founded by Congress in 1931 to provide the nation with a safer, more flexible, and more stable monetary and financial system. 2. We provide a full range of products and services, including advising on corpora

9、te strategy and structure, and raising capital in equity and debt markets.,3. How can we help you? we can: Build a long-term, one-to-one relationship with your banker. Manage your familys diverse business and personal assets. Build a portfolio tailored to your familys unique needs. Plan an active ro

10、le in managing your assets.,4.Nearly twelve million cheques and credits pass through the system each working day. Cheque volumes reached a peak in 1990 but usage has fallen since then, mainly owing to increased use of plastic cards and direct debits by personal customers.,5. why bank with us? Becaus

11、e we offer: A comprehensive range of accounts and services. Over 1600 branches, many with Saturday opening. Free withdrawals from over 31000 cash machines. Online and telephone banking for round-the-clock access to your accounts.,2.2 Personal banking,2.2.1 current accounts 經(jīng)常賬戶 Current accounts=chec

12、king accounts, allow customers to take out or withdraw（取出） money freely with a lower rate of interest. Savings account=deposit account（儲蓄賬戶）, pay more interest but have restriction on when you can withdraw your money. Debit: money going out （借方） Credit: money coming in （貸方）,Debit card （借記卡）: make wi

13、thdraws and do other transactions at ATM ( Automatic Teller Machine) Credit card （貸記卡，信用卡） : be used for buying goods and services and borrowing money. In some countries, people pay bills with cheque or bank transfer（銀行轉(zhuǎn)帳）. cheque=check, ATM=cash dispenser=cash machine,2.2.2 Banking products and ser

14、vices,Commercial banks offer loans, overdraft（透支） for small sums of money; banks also offer mortgages to people who want to buy a house or flat. If the borrower cant repay the mortgage, the bank can repossess（收回） it. Banks exchange foreign currency（外幣） for people going abroad, and sell travelers che

15、ques（旅行支票）. Banks also offer advice about investments and private pension plans（個人養(yǎng)老金計劃）-saving money for when you retire from work.,2.2.3 E-banking,Many commercial banks thought the future would be in telephone banking（電話銀行） and internet banking or e-banking（網(wǎng)上銀行）. As a matter of fact, most of thei

16、r customers preferred to go to branches（分支機構(gòu)）-local offices of the bank especially ones that had longer opening hours（營業(yè)時間）, and were conveniently situated.,2.3 Commercial and retail banking,2.3.1 commercial and retail banks When people have extra money, they may choose to deposit（存放） it in a bank a

17、ccount, at a commercial or retail bank, and the bank pays interest to the depositors（存款者）. The bank then uses the money that has been deposited to grant loans（發(fā)放貸款）. Banks make a profit by charging a higher rate of interest to borrowers than they pay to depositors.,2.3.2 credit,Banks also create cre

18、dit（創(chuàng)造信用）- make money available for someone to borrow. The capital a bank has and the loans it has made are its assets. The customers deposits are liabilities because the money is owed to someone else. Banks have to keep a certain percentage of their assets as reserves（存款準(zhǔn)備金）, which is known as the

19、reserve requirement（準(zhǔn)備金要求）.,2.3.3 loans and risks,Before lending money, a bank has to assess(評估) or calculate the risk involved. Most retail banks have standardized products（標(biāo)準(zhǔn)化產(chǎn)品） for personal customers（個人客戶）, such as personal loans（個人貸款）, which has the same terms and conditions.,For corporate cust

20、omers（公司客戶）, banks have more complicated risk assessment（風(fēng)險評估）. Banks have to find a balance between liquidity（流動性） and different maturities（到期日）. They also have to balance yield（收益） and risk.,Exercises:,1.If you need instant access to all your money, this is the bank account for you. 2.Our products

21、 for corporate customers include business overdrafts, loan repayments that reflect your cash flow, and commercial mortgage.,3.Our local branch managers are encouraged to help local businesses and are authorized to grant loans and overdrafts. 4. We offer standardized loans: you can be sure you wont g

22、et less favorable terms and conditions than our other personal customers.,2.4 Investment banking,2.4.1 Raising capital 籌集資金 Investment banks act as intermediaries（中介）, help companies and governments raise capital by issuing securities（發(fā)行有價證券） such as stocks and bonds, and often underwrite（認購、包銷） sec

23、urities issues.,When companies offer stock for sale for the first time, it is called initial public offerings (IPOs). Investment banks also have stock-broking（股票經(jīng)紀） and dealing department（交易部門） to execute orders（執(zhí)行命令） for clients.,2.4.2 mergers and acquisitions,Investment banks often represent firms

24、 in mergers（合并） and acquisitions（收購）, and divestitures（剝離，出售）. Merger: two companies join together to form a new one. Acquisition: one company buys another one. Divestiture: a company sells a subsidiary. All these services charge fees according to the result.,2.4.3 consulting and research,Because of

25、 great experience in financial transactions and large network of contacts with investors and companies that could be interested in a merger or acquisition, investment banks can provide consulting business（咨詢業(yè)務(wù)） to give advice about strategic planning（戰(zhàn)略計劃） or financial restructuring（金融重組）.,Large inv

26、estment bank also have extensive research departments with analysts（分析員） and forecasters（預(yù)測員） who specialize in the valuation（評估） of different markets, industries, companies, securities and currencies.,2.5 Central banking,Central banks are not “banks”, but governmental institutions（政府部門）. Generally

27、speaking, the function of central banks is to control the money supply and interest rate to maintain financial stability（金融穩(wěn)定）. In many countries, the central bank supervises （監(jiān)督）and regulates（控制） the banking system and the whole financial sector.,It also collects financial data（金融數(shù)據(jù)） and publishes

28、statistics, and provides financial information（金融信息） for consumers. Another function of central banks is to print and issue currency（發(fā)行貨幣）-put banknotes into circulation（使貨幣進入流通領(lǐng)域）.,2.5.1 Central bank and commercial bank,Commercial banks have to keep a certain amount of their deposits to the central

29、 bank. When Commercial banks meet a bank run（擠兌）, central banks act as lender of last resort（最終求助借款人）, but central banks dont always bail out（ rescue banks in difficulty，救市）. Reserve-asset ratio（存款準(zhǔn)備金率）: the minimum percentage of its deposits a bank has to keep in the central bank A bank run= a run

30、on the bank,2.5.2 Central bank and exchange rate,Central banks manage a countrys reserve of gold（黃金儲備） and foreign currencies（外匯）. They try to influence the exchange rate（匯率） by intervening（干預(yù)） on the currency markets, and moving the rate up and down by buying or selling their currency to change the

31、 balance of supply and demand（供求平衡）.,Exercises:,1. Monetary policy, including setting interest rates, is designed to maintain financial stability. 2. If theres a bank run and the bank goes bankrupt, this can have a rapid effect on the whole financial system. 3. On one day in 1992, the bank of Englan

32、d lost over 1billion in the currency markets, trying to protect the exchange rate of the pound.,bank, currency, exchange, financial, monetary,markets, run, system, policy, rate, stability,2.7 Interest rate,An interest rate（利率） is the cost of borrowing money. It is usually set by the central bank, as

33、 part of monetary policy（貨幣政策）, designed to keep inflation（通貨膨脹） low.,If interest rate are set too low, the demand for goods and services grows faster than the markets ability to supply them. This causes prices to rise so that inflation occurs. If interest rate are set too high, this lowers borrowin

34、g and spending. This brings down（降低） inflation, but also reduces output（產(chǎn)出） and employment（就業(yè)）.,2.7.1 Different interest rates,The discount rate（貼現(xiàn)率） is the rate that the central bank sets to lend short-term funds to commercial banks. This is the base rate（基準(zhǔn)利率） of commercial banks. Banks make their

35、 profit between the interest rate they charge borrowers and the rates pay to depositors, known as a margin or spread. Base rate=prime rate 銀行優(yōu)惠貸款利率，銀行最低利率,The rate that borrowers pay depends on their creditworthiness（信譽）, also known as credit standing or credit rating（信用級別）. Long-term loans such as

36、mortgages often have floating or variable interest rates（浮動利率） that change according to the supply and demand for money. Leasing or hire purchase (HP，分期付款協(xié)議) agreements have higher interest rates than bank loans and overdrafts.,2.8 Money market,The money markets consist of a network of corporations,

37、 financial institutions, investors and governments, which need to borrow or invest short-term capital (up to 12 months) Through the money markets, borrowers can find short-term liquidity by turning assets into cash, deal with irregular cash flows-more cheaply than commercial banks. Similarly, invest

38、ors can make short-term deposits with investment companies at competitive interest rates.,2.8.1 Common money market instruments,Treasury bills (T-bills，國庫券) are bonds issued by governments. They are sold at a discount from their normal value（票面價值）. The most common maturity is three months. Commercia

39、l paper（商業(yè)票據(jù)） is a short-term loan issued by major companies, also sold at a discount. It is unsecured（不安全）. Certificates of deposit (CDs，存單) are short- or medium-term, interest-paying debt instruments（債務(wù)工具）. They are known as time deposits. normal value=par value=face value,Repos 回購協(xié)議,A repurchase

40、agreement (repo，回購協(xié)議) is a combination of two transactions. A holder of government securities (usually T-bills) sells the securities to a lender and agrees to repurchase them at an agreed future date at an agreed price.,2.9 Money supply and control,narrow money（狹義貨幣）: only include currency and sight deposit（活期存款）. broad money（廣義貨幣）: include savings deposits（儲蓄存款） and time deposits（定期存款）, as well as money market funds, certificate of deposit, commercial paper, repurchase agreements, and things like that.,2.9.1 Measuring money