金融機構管理第六版課后習題答案-資料下載頁

【導讀】{ "error_code": 17, "error_msg": "Open api daily request limit reached" }

　　

【正文】 e begun changing the mix of business products offered to individual users and providers of funds. For example, banks have acquired mutual funds, have expanded their asset and pension fund management businesses, and have increased the security underwriting activities. In addition, legislation that allows banks to establish branches anywhere in the United States has caused a wave of mergers. As the size of banks has grown, an expansion of possible product offerings has created the potential for lower service costs. Finally, the emphasis in recent years has been on products that generate increases in fee ine, and the entire banking industry has benefited from increased profitability in recent years. 10 33. What characteristics of financial products are necessary for financial markets to bee efficient alternatives to financial intermediaries? Can you give some examples of the moditization of products which were previously the sole property of financial institutions? Financial markets can replace FIs in the delivery of products that (1) have standardized terms, (2) serve a large number of customers, and (3) are sufficiently understood for investors to be fortable in assessing their prices. When these three characteristics are met, the products often can be treated as modities. One example of this process is the migration of overthecounter options to the publicly traded option markets as trading volume grows and trading terms bee standardized. 34. In what way has Regulation 144A of the Securities and Exchange Commission provided an incentive to the process of financial disintermediation? Changing technology and a reduction in information costs are rapidly changing the nature of financial transactions, enabling savers to access issuers of securities directly. Section 144A of the SEC is a recent regulatory change that will facilitate the process of disintermediation. The private placement of bonds and equities directly by the issuing firm is an example of a product that historically has been the domain of investment bankers. Although historically private placement assets had restrictions against trading, regulators have given permission for these assets to trade among large investors who have assets of more than $100 million. As the market grows, this minimum asset size restriction may be reduced. Chapter Two The Financial Services Industry: Depository Institutions Chapter Outline Introduction Commercial Banks ? Size, Structure, and Composition of the Industry ? Balance Sheet and Recent Trends ? Other FeeGenerating Activities ? Regulation ? Industry Performance Savings Institutions ? Savings Associations (SAs) 11 ? Savings Banks ? Recent Performance of Savings Associations and Savings Banks Credit Unions ? Size, Structure, and Composition of the Industry and Recent Trends ? Balance Sheets ? Regulation ? Industry Performance Global Issues: Japan, China, and Germany Summary Appendix 2A: Financial Statement Analysis Using a Return on Equity (ROE) Framework Appendix 2B: Depository Institutions and Their Regulators Appendix 3B: Technology in Commercial Banking 12 Solutions for EndofChapter Questions and Problems: Chapter Two 1. What are the differences between munity banks, regional banks, and moneycenter banks? Contrast the business activities, location, and markets of each of these bank groups. Community banks typically have assets under $1 billion and serve consumer and small business customers in local markets. In 2021, percent of the banks in the United States were classified as munity banks. However, these banks held only percent of the assets of the banking industry. In parison with regional and moneycenter banks, munity banks typically hold a larger percentage of assets in consumer and real estate loans and a smaller percentage of assets in mercial and industrial loans. These banks also rely more heavily on local deposits and less heavily on borrowed and international funds. Regional banks range in size from several billion dollars to several hundred billion dollars in assets. The banks normally are headquartered in larger regional cities and often have offices and branches in locations throughout large portions of the United States. Although these banks provide lending products to large corporate customers, many of the regional banks have developed sophisticated electronic and branching services to consumer and residential customers. Regional banks utilize retail deposit bases for funding, but also develop relationships with large corporate customers and international money centers. Money center banks rely heavily on nondeposit or borrowed sources of funds. Some of these banks have no retail branch systems, and most regional banks are major participants in foreign currency markets. These banks pete with the larger regional banks for large mercial loans and with international banks for international mercial loans. Most money center banks have headquarters in New York City. 2. Use the data in Table 24 for the banks in the two asset size groups (a) $100 million$1 billion and (b) over $10 billion to answer the following questions. a. Why have the ratios for ROA and ROE tended to increase for both groups over the 19902021 period? Identify and discuss the primary variables that affect ROA and ROE as they relate to these two size groups. The primary reason for the improvements in ROA and ROE in the late 1990s may be related to the continued strength of the macroeconomy that allowed banks to operate with a reduced regard for bad debts, or loan chargeoff problems. In addition, the continued low interest rate environment has provided relatively lowcost sources of funds, and a shift toward growth