银行管理学英文版教材全套课件.pptx

FUNDAMENTAL FORCES OF CHANGE IN BANKING;What makes a bank ‘special?’Why do we call Bank of America a ‘bank,’ Merrill Lynch a ‘securities brokerage company’ and State Farm an ‘insurance company?’;The banking industry is consolidating and diversifying simultaneously.;While competition has increased the number of firms offering financial products and services, … the removal of interstate branching restrictions in the U.S. has dramatically reduced the number of banks but increased the number of banking offices (primarily branches).;Increased competition… quickly changing the nature of commercial banking.;Regulatory restrictions on products and services offerings worked effectively in promoting a safe banking system until the later half of the twentieth century. ;Banks were heavily regulated …state banking agencies, the FDIC, the Federal Reserve and the Office of Comptroller of the Currency ;Branching restrictions were primarily responsible for the structure of the banking system.;Branching restrictions were effective at reducing competition among depository institutions and promoting a safe banking system until the later half of the twentieth century. ;The removal of branching restrictions during the later half of the twentieth century allowed banks to offer services anywhere in the country and lead to the creation of the first coast-to-coast bank…forever changing the banks market from local to global. ;This structural change is frequently attributed to deregulation of the financial services industry.;Five fundamental forces have transformed the financial services market;Historically, commercial banks have been the most heavily regulated companies in the United States;Banks and other market participants have consistently restructured their operations to circumvent regulation and meet perceived customer need ;Today banks are accessing the formerly forbidden areas of investment banking, by the repeal of the Glass-Steagall Act via the Financial Services Modernizat