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1、Chapter TwoThe Impact of Government Policy and Regulation on the Financial-Services IndustryCopyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/IrwinMcGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.K
2、ey Topics The Principal Reasons for Bank and Nonbank Financial-Services Regulation Major Bank and Nonbank Regulators and Laws Emergency Economic Stabilization Act and the Global Credit Crisis The Central Banking System Organization and Structure of the Federal Reserve System and Leading Central Bank
3、s of Europe and Asia Financial-Services Industry Impact of Central Bank Policy Tools2-2McGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.Reasons for the Regulation of Banks Protection of the Safety of the Publics Savings Control o
4、f the Supply of Money and Credit Ensure Equal Opportunity and Fairness in Access to Credit Promote Public Confidence in the Financial System Avoid Concentration of Power Support of Government Activities Help for Special Segments of the Economy2-3McGraw-Hill/Irwin Bank Management and Financial Servic
5、es, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.Principal Regulatory Agencies Under the Dual Banking System Federal Reserve System Comptroller of the Currency Federal Deposit Insurance Corporation Department of Justice Securities and Exchange Commission State Banking Boards or Comm
6、issions2-4McGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.Goals and Functions of Bank Regulations Laws Limiting Bank Lending and Risk Laws Restricting and Expanding Services Banks and Other Depository Institutions Can Offer Laws
7、 Prohibiting Discrimination in Offering Services Laws Mandating Increased Information Transparency and More Accurate Financial Reporting Laws Regulating Branch Banking Laws Assisting Federal Agencies in Dealing with Failing Depository Institutions2-5McGraw-Hill/Irwin Bank Management and Financial Se
8、rvices, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.National Banking Act (1863,1864) Passed During the Civil War to Help Fund the War Created A New Division of the Treasury, the Comptroller of the Currency Created National Banks with a Federal Charter2-6McGraw-Hill/Irwin Bank Manag
9、ement and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.Federal Reserve Act of 1913 Passed After a Series of Financial Panics at the Beginning of the Century Created the Federal Reserve System Gave the Fed the Authority to Act as the Lender of Last Resort Created
10、to Provide a Number of Services to Member Banks Today the Fed Controls the Money Supply2-7McGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.Glass-Steagall Act 1933 Passed During the Great Depression Separated Investment and Commer
11、cial Banking Created the FDIC Fed Given the Power to Set Margin Requirements Prohibited Interest to be Paid on Checking Accounts2-8McGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.FDIC Act 1935 Addressed the Issues Left Out of th
12、e Glass- Steagall Act Gave the FDIC the Power to Examine Banks and Take Necessary Action2-9McGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.Social Responsibility Acts 1968 Full Information on Terms of Loans Must be Given 1974 Can
13、not Be Denied a Loan Based on Age, Sex, Race, National Origin or Religion 1977 Cannot Discriminate Based on the Neighborhood in Which Borrower Resides 1987 and 1991 Banks Must Disclose Full Terms on Deposit and Savings Accounts2-10McGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 Th
14、e McGraw-Hill Companies, Inc., All Rights Reserved.Depository Institution Deregulation and Monetary Control Act (DIDMCA) 1980 First of Deregulation Acts Phased Out Interest Rate Ceilings Allowed Interest to be Paid on Checking Accounts (NOW Accounts) Term Transaction Account Created All Institutions
15、 with These Accounts Subject to Reserve Requirements2-11McGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.Garn-St. Germain Act 1982 Continued the Deregulation of DIDMCA Created Money Market Deposit Account FDIC Could Arrange Merge
16、rs Across State Lines if Needed Loan Limits were Liberalized Banks in Need of Capital Could Get It From the FDIC2-12McGraw-Hill/Irwin Bank Management and Financial Services, 7/e 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.Competitive Equality in Banking Act (CEBA) 1987 Allowed Creation of Special Bridge Banks for Failed Ins
