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1、1. Commercial banks: sell deposits and make loans to businesses and individuals.2. Community banks: are smaller, locally focused commercial and savings banks.3. Investment banks: underwrite issues of new securities by their corporate customers.4. Duration: duration is a value-and time-weighted measu
2、re of maturity that considers the timing of all cash inflows from earning assets and all cash outflows associated with liabilities.D=Z CF *t/(l+YTM)t】/【CF/(l+YTM)】 =【 CF *t/(l+YTM)t】/Current MarketttValue or Price5. Securitization: securitizing assets requires a lending institution to set aside a gr
3、oup of income-earning assets, such as home mortgages or credit card loans, and to sell securities (financial claims) against those assets in the open market.6. Money market instruments: which reach maturity within one year and are noted for their low risk and ready marketability.7. Capital market in
4、struments:which have remaining maturities beyond one year and generally noted for their higher expected rate of return and capital gains potential.8. Capital: refers to funds contributed by the owners 一money invested in a financial firm and placed at risk in the hope of earning a competitive return.
5、1. The many different roles banks and their closest competitors play in the economyThe intermediation roleTransforming savings received primarily from households into credit (loans) for business firms and others in order to make investments in new buildings, equipment, and other goods.The payments r
6、oleCarrying out payments for goods and services on behalf of customers (such as by issuing and clearing checks and providing a conduit for electronic payments).The guarantor roleStanding behind their customers to pay off customer debts when those customers are unable to pay (such as by issuing lette
7、rs of credit).The risk management roleAssisting customers in preparing financially for the risk of loss to property, persons, and financial assets.The investment banking roleAssisting corporations and governments in marketing securities and raising new funds.The savings/investment advisor roleAiding
8、 customers in fulfilling their long-range goals for a better life by building and investing savings.The safekeeping/certification of value roleSafeguarding a customer valuables and certifying their true value.The agency roleActing on behalf of customers to manage and protect their property.The polic
9、y roleServing as a conduit for government policy in attempting to regulate the growth of economy and pursue social goals.2. What different kinds of services do banks offer the public today?a) Carrying out currency exchanges.b) Discounting commercial notes and marking business loans.c) Offering savin
10、gs deposits.d) Safekeeping of valuables and certification of value.e) Supporting government activities with credit.f) Offering checking account (demand deposits).g) Offering trust services.h) granting customer loansi) financial advisingj) managing cashk) offering equipment leasingl) making venture c
11、apital loansm) selling insurance policiesn) selling retirement plans3. What key roles does the Federal Reserve System perform in the banking and financial system?a. Serve as a lender of last resortproviding temporary loans to depository institutions facing financial emergencies.b. Help stabilize the
12、 financial markets and the economy in order to preserve public confidence.c. Provide important services, including the establishment of a nationwide network to clear and collect checks.d. Control money and credit conditions to promote economic stability.4. Functions of the investment security portfo
13、lio.a. Stabilize income, so that revenues level out over the business cycle-when loan revenues fall, income from investment securities may rise.b. Offset credit risk exposure in the loan portfolio. High-quality securities can be purchased and held to balance out the risk from loans.c. Provide geogra
14、phic diversification. Securities often come from different regions than the sources of loans, helping diversify a financial firms sources of income.d. Provide a backup source of liquidity, because securities can be sold to raise needed cash or used as collateral for borrowing additional funds.e. Red
15、uce tax exposure, especially in offsetting taxable loan revenues.f. Serve as collateral (pledged assets) to secure federal, state, and local government deposits held by a depository institution.g. Help hedge against losses due to changing interest rates.h. Provide flexibility in a financial firms as
16、set portfolio because investment securities, unlike many loans, can be bought or sold quickly to restructure assets.i. Dress up the balance sheet and make a financial institution look financially stronger due to the high quality of most marketable securities.5. The three pillars (支柱)” of Basel IIa. Minimum capital requirements for each bank are based on its own estimated
