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Encyclopedia > Bank
Financial market
participants

Investors
Look up bank in Wiktionary, the free dictionary. ... Look up banker in Wiktionary, the free dictionary. ... There are two basic financial market participant catagories, Investor vs. ... Image File history File linksMetadata Size of this preview: 800 × 600 pixelsFull resolution (2816 × 2112 pixel, file size: 2. ... An investor is any party that makes an investment. ...

Speculators
speculation
Speculation is the buying, holding, and selling of stocks, commodities, futures, currencies, collectibles, real estate, or any valuable thing to profit from fluctuations in its price as opposed to buying it for use or for income - dividends, rent etc. ... Speculation involves the buying, holding, and selling of stocks, bonds, commodities, currencies, collectibles, real estate, derivatives or any valuable financial instrument to profit from fluctuations in its price as opposed to buying it for use or for income via methods such as dividends or interest. ...

Institutional investors
Insurance companies
Investment banks
Hedge funds
Mutual funds
Pension funds
Private equity funds
Venture capital funds
Banks
Credit Unions
Trusts
Prime Brokers
An institutional investor is an investor who is an institution like a bank, insurance fund, retirement fund, or mutual fund manager. ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ... Investment banks help companies and governments (or their agencies) raise money by issuing and selling securities in the capital markets (both equity and debt). ... A hedge fund is a private investment fund charging a performance fee and typically open to only a limited range of qualified investors. ... This article deals with U.S. mutual funds. ... A pension (also known as superannuation) is a retirement plan intended to provide a person with a secure income for life. ... A private equity fund is a collaboration of funds that directs a private companys or individuals equity, either in the stock market or in real estate. ... Venture capital is a general term to describe financing for startup and early stage businesses as well as businesses in turn around situations. ... A credit union is a cooperative financial institution that is owned and controlled by its members. ... A trust company is normally owned by one of three types of structures; an independent partnership, a bank, or a law firm, each of which specialize in being a trustee of various kinds of trusts, and managing estates. ... Prime Brokerage is a service sold by investment banks to hedge funds. ...


Finance series
Financial market
Participants
Corporate finance
Personal finance
Public finance
Banks and Banking
Financial regulation
Finance studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. ... This article does not cite any references or sources. ... There are two basic financial market participant catagories, Investor vs. ... Domestic credit to private sector in 2005 Corporate finance is an area of finance dealing with the financial decisions corporations make and the tools and analysis used to make these decisions. ... Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. ... This article does not cite any references or sources. ... Financial supervision is government supervision of financial institutions by regulators. ...

 v  d  e 

A banker or bank is a financial institution that acts as a payment agent for customers, and borrows and lends money.


Banks acts as payment agents by conducting current accounts for customers, paying cheques drawn by customers on the bank, and collecting cheques deposited to the customer's current accounts. Banks also enable customer payments via other payment methods such as telegraphic transfer, EFTPOS, and ATM. A current account is a deposit account in the UK and countries with a UK banking heritage offering various flexible payment methods to allow customers to distribute money directly to others. ... Example of a Canadian cheque. ... The term Telegraphic transfer, often abbreviated to TT, is most often used in UK Banking to refer to a CHAPS transfer; that is a payment made via the Clearing House Automated Payments System. ... EFTPOS (Electronic Funds Transfer at Point of Sale) is a device by which sales transactions can be directly debited to the customers bank account at the point of sale, through the use of a debit card (sometimes the same card used with Automatic Teller Machines). ... Cash machine redirects here. ...


Banks borrow money by accepting funds deposited on current account, accepting term deposits and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current account, by making installment loans, and by investing in marketable debt securities and other forms of lending. A £20 Ulster Bank banknote. ... For alternative meanings, see bond (a disambiguation page). ...


Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments. Non-banks that provide payment services such as remittance companies are not normally considered an adequate substitute for having a bank account.


Banks borrow most funds borrowed from households and non-financial businesses, and lend most funds lent to households and non-financial businesses, but non-bank lenders provide a significant and in many cases adequate substitute for bank loans, and money market funds, cash management trusts and other non-bank financial institutions in many cases provide an adequate substitute to banks for lending savings to.

Contents

Definition of a Bank

A bank is defined as a person who carries on the business of banking, which is:

  • conducting current accounts for customers
  • paying cheques drawn on a given person, and
  • collecting cheques for their customers.

(United Dominions Trust Ltd v Kirkwood, 1966, English Court of Appeal, 2 QB 431).


In most English common law jurisdictions there is a Bills of Exchange Act that codifies the law in relation to negotiable instruments, including cheques, and this Act contains a statutory definitions of the term banker : ' banker includes a body of persons, whether incorporated or not, who carry on the business of banking' (Section 2, Interpretation). Although this definition seems circular, it is actually functional, because it ensures that the legal basis for bank transactions such as cheques do not depend on how the bank is organised or regulated. A negotiable instrument is a specialized type of contract which obligates a party to pay a certain sum of money on specified terms. ... A check or cheque (borrowed from Persian چك Chek) is a document instructing a financial institution to pay a specific amount of a specific currency from a specific demand account held in the maker/depositors name with that institution. ... A check or cheque (borrowed from Persian چك Chek) is a document instructing a financial institution to pay a specific amount of a specific currency from a specific demand account held in the maker/depositors name with that institution. ...


The business of banking is in many English common law countries not defined by statute but by common law, the definition above. In other English common law jurisdictions there are statutory definitions of the business of banking or banking business. When looking at these definitions it is important to keep in mind that they are defining the business of banking for the purposes of the legislation, and not necessarily in general. In particular, most of the definitions are from legislation that has the purposes of entry regulating and supervising banks rather than regulating the actual business of banking. However, in many cases the statutory definition closely mirrors the common law one. Examples of statutory definitions: This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ...

  • ' "banking business" means the business of receiving money on current or deposit account, paying and collecting cheques drawn by or paid in by customers, the making of advances to customers, and includes such other business as the Authority may prescribe for the purposes of this Act;' (Banking Act (Singapore), Section 2, Interpretation).
  • "banking business" (銀行業務) means the business of either or both of the following-
  1. receiving from the general public money on current, deposit, savings or other similar account repayable on demand or within less than [3 months] ... or with a period of call or notice of less than that period;
  2. paying or collecting cheques drawn by or paid in by customers; (Banking Ordinance, Section 2, Interpretation, Hong Kong) Note that in this case the definition is extended to include accepting any deposits repayable in less than 3 months, companies that accept deposits of greater than HK$100 000 for periods of greater than 3 months are regulated as deposit taking companies rather than as banks in Hong Kong).

Since the advent of EFTPOS (Electronic Funds Transfer at Point Of Sale), direct credit, direct debit and internet banking, the cheque has lost its primacy in most banking systems as a payment instrument, leading legal theorists to suggest that the cheque based definition should be broadened to include financial institutions that conduct current accounts for customers and enable customers to pay and be paid by third parties, even if they do not pay and collect cheques. (e.g. Tyree's Banking Law in New Zealand, A L Tyree, LexisNexis 2003, page 70). Hong Kong maintains a three-tier system of deposit-taking institutions, licensed banks, restricted licence banks and deposit-taking companies. ... EFTPOS (Electronic Funds Transfer at Point of Sale) is a device by which sales transactions can be directly debited to the customers bank account at the point of sale, through the use of a debit card (sometimes the same card used with Automatic Teller Machines). ...


Wider Commercial Role of Banks

However the commercial role of banks is wider than banking, and includes:

  • issue of banknotes (promissory notes issued by a banker and payable to bearer on demand)
  • processing of payments by way of telegraphic transfer, EFTPOS, internet banking or other means
  • issuing bank drafts and bank cheques
  • accepting money on term deposit
  • lending money by way of overdraft, installment loan or otherwise
  • providing documentary and standby letters of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures
  • safekeeping of documents and other items in safe deposit boxes
  • currency exchange
  • sale, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a 'financial supermarket'

A £20 Ulster Bank banknote. ... A promissory note is a contract detailing the terms of a loan. ... EFTPOS (Electronic Funds Transfer at Point of Sale) is a device by which sales transactions can be directly debited to the customers bank account at the point of sale, through the use of a debit card (sometimes the same card used with Automatic Teller Machines). ... Example of a Canadian cheque. ... Example of a Canadian cheque. ... A time deposit (also known as a term deposit, particularly in Australia and New Zealand) is a money deposit at a bank that cannot be withdrawn for a certain term or period of time. ... I warn you, Sir! The discourtesy of this bank is beyond all limits. ... A letter of credit, also referred to as an LOC or LC, is a document issued by a financial institution which essentially acts as an irrevocable guarantee of payment to a beneficiary. ... A performance bond is a surety bond issued by an insurance company to guarantee satisfactory completion of a project by a contractor. ... Safe deposit boxes inside a Swiss bank. ...

Economic functions

The economic functions of banks include:

  1. issue of money, in the form of banknotes and current accounts subject to cheque or payment at the customer's order. These claims on banks can act as money because they are negotiable and/or repayable on demand, and hence valued at par and effectively transferrable by mere delivery in the case of banknotes, or by drawing a cheque, delivering it to the payee to bank or cash.
  2. netting and settlement of payments -- banks act both as collection agent and paying agents for customers, and participate in inter-bank clearing and settlement systems to collect, present, be presented with, and pay payment instruments. This enables banks to economise on reserves held for settlement of payments, since inward and outward payments offset each other. It also enables payment flows between geographical areas to offset, reducing the cost of settling payments between geographical areas.
  3. credit intermediation -- banks borrow and lend back-to-back on their own account as middle men
  4. credit quality improvement -- banks lend money to ordinary commercial and personal borrowers (ordinary credit quality), but are high quality borrowers. The improvement comes from diversification of the bank's assets and the bank's own capital which provides a buffer to absorb losses without defaulting on its own obligations.
  5. maturity transformation -- banks borrow more on demand debt and short term debt, but provide more long term loans. Bank can do this because they can aggregate issues (e.g. accepting deposits and issuing banknotes) and redemptions (e.g. withdrawals and redemptions of banknotes), maintain reserves of cash, invest in marketable securities that can be readily sold if needed, and raise replacement funding as needed from various sources (e.g. wholesale cash markets and securities markets) because they have a high and more well known credit quality than most other borrowers.

A £20 Ulster Bank banknote. ... Example of a Canadian cheque. ... A £20 Ulster Bank banknote. ...

Law of Banking

Banking law is based on a contractual analysis of the relationship between the bank and the customer. The definition of bank is given above, and the definition of customer is any person for whom the bank agrees to conduct an account.


The law implies rights and obligations into this relationship as follows:

  1. The bank account balance is the financial position between the bank and the customer, when the account is in credit, the bank owes the balance to the customer, when the account is overdrawn, the customer owes the balance to the bank.
  2. The bank engages to pay the customer's cheques up to the amount standing to the credit of the customer's account, plus any agreed overdraft limit.
  3. The bank may not pay from the customer's account without a mandate from the customer, e.g. a cheque drawn by the customer.
  4. The bank engages to promptly collect the cheques deposited to the customer's account as the customer's agent, and to credit the proceeds to the customer's account.
  5. The bank has a right to combine the customer's accounts
  6. The bank has a lien on cheques deposited to the customer's account, to the extent that the customer is indebted to the bank.
  7. The bank must not disclose the details of the transactions going through the customer's account unless the customer consents, there is a public duty to disclose, the bank's interests require it, or under compulsion of law.
  8. The bank must not close a customer's account without reasonable notice to the customer, because cheques are outstanding in the ordinary course of business for several days.

These implied contractual terms may be modified by express agreement between the customer and the bank. The statutes and regulations in force in the jurisdiction may also modify the above terms and/or create new rights, obligations or limitations relevant to the bank-customer relationship.


Entry regulation

Main article: Banking regulation

Currently in most jurisdictions commercial banks are regulated and require a bank licence to operate. Bank regulations are a form of government regulation which subject banks to certain requirements, restrictions and guidelines, aiming to uphold the soundness and integrity of the financial system. ...


Usually the definition of the business of banking for the purposes of regulation is extended to include acceptance of deposits, even if they are not repayable to the customer's order, however money lending, by itself, is generally not included in the definition.


Unlike most other regulated industries, the regulator is typically also a participant in the market, i.e. government owned bank (a central bank). Central banks also typically have a monopoly on the business of issuing banknotes. However, in some countries this is not the case, e.g. in the UK the Financial Services Authority licences banks and some commercial banks, such as the Bank of Scotland, issue their own banknotes in competition with the Bank of England, the UK government's central bank. A £20 Ulster Bank banknote. ... The Financial Services Authority (FSA) is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. ... -1... A £20 Ulster Bank banknote. ... Headquarters Coordinates , , Governor Mervyn King Central Bank of United Kingdom Currency Pound sterling ISO 4217 Code GBP Base borrowing rate 5. ...


Some types of entity may be partly or wholly exempt from bank licence requirements and are regulated by separate regulators, e.g. building societies and credit unions. A building society is a financial institution, owned by its members, that offers banking and other financial services, especially mortgage lending. ... A credit union is a co-operative financial institution that is owned, controlled and administered by its members. ...


The requirements for the issue of a bank licence vary between juristictions but typically incude:

  1. Minimum capital
  2. Minimum capital ratio
  3. 'Fit and Proper' requirements for the bank's controllers, owners, directors, and/or senior officers
  4. Approval of the bank's business plan as being sufficiently prudent and plausible.

Politics and history

Main article: History of banking

Banks have influenced economies and politics for centuries. Historically, the primary purpose of a bank was to provide loans to trading companies. Banks provided funds to allow businesses to purchase inventory, and collected those funds back with interest when the goods were sold. For centuries, the banking industry only dealt with businesses, not consumers. Commercial lending today is a very intense activity, with banks carefully analysing the financial condition of their business clients to determine the level of risk in each loan transaction. Banking services have expanded to include services directed at individuals, and risk in these much smaller transactions are pooled. Roman sculpture showing moneychanger from 4th century BC The history of banking is closely related to the history of money. ...


Origin of the word

The name bank derives from the Italian word banco "desk/bench", used during the Renaissance by Florentines bankers, who used to make their transactions above a desk covered by a green tablecloth.[1] However, there are traces of banking activity even in ancient times. This article is about the European Renaissance of the 14th-17th centuries. ... This article is about the city in Italy. ...


In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called macella on a long bench called a bancu, from which the words banco and bank are derived. As a moneychanger, the merchant at the bancu did not so much invest money as merely convert the foreign currency into the only legal tender in Rome- that of the Imperial Mint. [2]


Banking channels

Banks offer many different channels to access their banking and other services:

  • A branch, banking centre or financial centre is a retail location where a bank or financial institution offers a wide array of face to face service to its customers
  • ATM is a computerised telecommunications device that provides a financial institution's customers a method of financial transactions in a public space without the need for a human clerk or bank teller. Most banks now have more ATMs than branches, and ATMs are providing a wider range of services to a wider range of users. For example in Hong Kong, most ATMs enable anyone to deposit cash to any customer of the bank's account by feeding in the notes and entering the account number to be credited. Also, most ATMs enable card holders from other banks to get their account balance and withdraw cash, even if the card is issued by a foreign bank.
  • Mail is part of the postal system which itself is a system wherein written documents typically enclosed in envelopes, and also small packages containing other matter, are delivered to destinations around the world. This can be used to deposit cheques and to send orders to the bank to pay money to third parties. Banks also normally use mail to deliver periodic account statements to customers.
  • Telephone banking is a service provided by a financial institution which allows its customers to perform transactions over the telephone. This normally includes bill payments for bills from major billers (e.g. for electricity).
  • Online banking is a term used for performing transactions, payments etc. over the Internet through a bank, credit union or building society's secure website

Outdoor ATMs may be free-standing, like this kiosk, or built into the side of banks or other buildings An automatic teller machine, automated teller machine (ATM) or cash machine is an electronic device that allows a banks customers to make cash withdrawals and check their account balances without... For other uses, see Mail (disambiguation). ... Telephone banking is a service provided by a financial institution which allows its customers to perform transactions over the telephone. ... Online banking (or Internet banking) is a term used for performing transactions, payments etc. ...

Types of banks

Banks' activities can be divided into retail banking, dealing directly with individuals and small businesses; business banking, providing services to mid-market business; corporate banking, directed at large business entities; private banking, providing wealth management services to High Net Worth Individuals and families; and investment banking, relating to activities on the financial markets. Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profits. According to investopedia. ... Private banking is done by major institutional banks known as private banks, which offer financial services to private individuals. ... Investment banks help companies and governments (or their agencies) raise money by issuing and selling securities in the capital markets (both equity and debt). ... In finance, financial markets facilitate: The raising of capital (in the capital markets); The transfer of risk (in the derivatives markets); and International trade (in the currency markets). ...


Central banks are normally government owned banks, often charged with quasi-regulatory responsibilities, e.g. supervising commercial banks, or controlling the cash interest rate. They generally provide liquidity to the banking system and act as Lender of last resort in event of a crisis. An interest rate is the price a borrower pays for the use of money he does not own, and the return a lender receives for deferring his consumption, by lending to the borrower. ... This article needs to be cleaned up to conform to a higher standard of quality. ...


Types of retail banks

  • Commercial bank: the term used for a normal bank to distinguish it from an investment bank. After the Great Depression, the U.S. Congress required that banks only engage in banking activities, whereas investment banks were limited to capital market activities. Since the two no longer have to be under separate ownership, some use the term "commercial bank" to refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses.
  • Community Banks: locally operated financial institutions that empower employees to make local decisions to serve their customers and the partners
  • Community development banks: regulated banks that provide financial services and credit to underserved markets or populations.
  • Postal savings banks: savings banks associated with national postal systems.
  • Private banks: manage the assets of high net worth individuals.
  • Offshore banks: banks located in jurisdictions with low taxation and regulation. Many offshore banks are essentially private banks.
  • Savings bank: in Europe, savings banks take their roots in the 19th or sometimes even 18th century. Their original objective was to provide easily accessible savings products to all strata of the population. In some countries, savings banks were created on public initiative, while in others socially committed individuals created foundations to put in place the necessary infrastructure. Nowadays, European savings banks have kept their focus on retail banking: payments, savings products, credits and insurances for individuals or small and medium-sized enterprises. Apart from this retail focus, they also differ from commercial banks by their broadly decentralised distribution network, providing local and regional outreach and by their socially responsible approach to business and society.
  • Building societies and Landesbanks: conduct retail banking.
  • Ethical banks: banks that prioritize the transparency of all operations and make only what they consider to be socially-responsible investments.

A commercial bank is a type of financial intermediary and a type of bank. ... For other uses, see The Great Depression (disambiguation). ... Community development banks (CDBs) are a special kind of bank designed to spur serve the residents of and spur economic development in low to moderate income (LMI) areas. ... Private banks are banks which are not incorporated, and hence the entirety of their assets is available to meet the liabilities of the bank. ... An offshore bank account is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. ... A savings bank is a financial institution whose primary purpose is accepting savings deposits. ... Building society was the name given in 19th century Britain for working mens co_operative savings groups: by pooling savings, members could buy or build their own homes. ... An ethical bank, also known as social, alternative or sustanaible bank, is a bank concerned about the social use of its investments and loans. ...

Types of investment banks

  • Investment banks "underwrite" (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital markets activities such as mergers and acquisitions.
  • Merchant banks were traditionally banks which engaged in trade financing. The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans. Unlike Venture capital firms, they tend not to invest in new companies.

To meet Wikipedias quality standards, this article or section may require cleanup. ... Debt & Equity underwriting Debt and equity underwriting is the concept of securing the price and sale of a new issue of stocks or bonds. ... In banking, a merchant bank is a traditional term for an Investment Bank. ... It has been suggested that this article or section be merged into Venture capital. ...

Both combined

  • Universal banks, more commonly known as a financial services company, engage in several of these activities. For example, First Bank (a very large bank) is involved in commercial and retail lending, and its subsidiaries in tax-havens offer offshore banking services to customers in other countries. Other large financial institutions are similarly diversified and engage in multiple activities. In Europe and Asia, big banks are very diversified groups that, among other services, also distribute insurance, hence the term bancassurance is the term used to describe the sale of insurance products in a bank. The word is a combination of "banque or bank" and "assurance" signifying that both banking and insurance are provided by the same corporate entity.

Financial services is a term used to refer to the services provided by the finance industry. ... The name First Bank is used by various financial institutions worldwide. ... Bancassurance is the term used to describe the sale of insurance products in a bank. ...

Other types of banks

Islamic banking

  • Islamic banks adhere to the concepts of Islamic law. Islamic banking revolves around several well established concepts which are based on Islamic canons. Since the concept of interest is forbidden in Islam, all banking activities must avoid interest. Instead of interest, the bank earns profit (mark-up) and fees on financing facilities that it extends to the customers.

For more information please refer to http://www. ... This article is about Islamic religious law. ...

Banks in the economy

Size of global banking industry

Worldwide assets of the largest 1,000 banks grew 15.5% in 2005 to reach a record $60.5 trillion. This follows a 19.3% increase in the previous year. EU banks held the largest share, 50% at the end of 2005, up from 38% a decade earlier. The growth in Europe’s share was mostly at the expense of Japanese banks whose share more than halved during this period from 33% to 13%. The share of US banks also rose, from 10% to 14%. Most of the remainder was from other Asian and European countries. .[3]



The US had by far the most banks (7,540 at end-2005) and branches (75,000) in the world. The large number of banks in the US is an indicator of its geography and regulatory structure, resulting in a large number of small to medium sized institutions in its banking system. Japan had 129 banks and 12,000 branches. In 2004, Germany, France, and Italy had more than 30,000 branches each—more than double the 15,000 branches in the UK.[4]


Bank crisis

Banks are susceptible to many forms of risk which have triggered occasional systemic crises. Risks include liquidity risk (the risk that many depositors will request withdrawals beyond available funds), credit risk (the risk that those who owe money to the bank will not repay), and interest rate risk (the risk that the bank will become unprofitable if rising interest rates force it to pay relatively more on its deposits than it receives on its loans), among others.


Banking crises have developed many times throughout history when one or more risks materialize for a banking sector as a whole. Prominent examples include the U.S. Savings and Loan crisis in 1980s and early 1990s [5] the Japanese banking crisis during the 1990s, the bank run that occurred during the Great Depression, and the recent liquidation by the central Bank of Nigeria, where about 25 banks were liquidated.[citation needed] The Savings and Loan crisis of the 1980s was a wave of savings and loan association failures in the United States in which over 1,000 savings and loan institutions failed in the largest and costliest venture in public misfeasance, malfeasance and larceny of all time. ... A poster for the 1896 Broadway melodrama The War of Wealth depicts a typical 19th century bank panic in the U.S. A bank run (also known as a run on the banks) is a type of financial crisis. ... For other uses, see The Great Depression (disambiguation). ...


Challenges within the banking industry

The banking industry is a highly regulated industry with detailed and focused regulators. All banks with FDIC-insured deposits have the FDIC as a regulator; however, for examinations, the Federal Reserve is the primary federal regulator for Fed-member state banks; the Office of the Comptroller of the Currency (“OCC”) is the primary federal regulator for national banks; and the Office of Thrift Supervision, or OTS, is the primary federal regulator for thrifts. State non-member banks are examined by the state agencies as well as the FDIC. National banks have one primary regulator—the OCC. Image File history File links Gnome-globe. ...


Each regulatory agency has their own set of rules and regulations to which banks and thrifts must adhere.


The Federal Financial Institutions Examination Council (FFIEC) was established in 1979 as a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions. Although the FFIEC has resulted in a greater degree of regulatory consistency between the agencies, the rules and regulations are constantly changing.


In addition to changing regulations, changes in the industry have led to consolidations within the Federal Reserve, FDIC, OTS and OCC. Offices have been closed, supervisory regions have been merged, staff levels have been reduced and budgets have been cut. The remaining regulators face an increased burden with increased workload and more banks per regulator. While banks struggle to keep up with the changes in the regulatory environment, regulators struggle to manage their workload and effectively regulate their banks. The impact of these changes is that banks are receiving less hands-on assessment by the regulators, less time spent with each institution, and the potential for more problems slipping through the cracks, potentially resulting in an overall increase in bank failures across the United States.


The changing economic environment has a significant impact on banks and thrifts as they struggle to effectively manage their interest rate spread in the face of low rates on loans, rate competition for deposits and the general market changes, industry trends and economic fluctuations. It has been a challenge for banks to effectively set their growth strategies with the recent economic market. A rising interest rate environment may seem to help financial institutions, but the effect of the changes on consumers and businesses is not predictable and the challenge remains for banks to grow and effectively manage the spread to generate a return to their shareholders.


The management of the banks’ asset portfolios also remains a challenge in today’s economic environment. Loans are a bank’s primary asset category and when loan quality becomes suspect, the foundation of a bank is shaken to the core. While always an issue for banks, declining asset quality has become a big problem for financial institutions. There are several reasons for this, one of which is the lax attitude some banks have adopted because of the years of “good times.” The potential for this is exacerbated by the reduction in the regulatory oversight of banks and in some cases depth of management. Problems are more likely to go undetected, resulting in a significant impact on the bank when they are recognized. In addition, banks, like any business, struggle to cut costs and have consequently eliminated certain expenses, such as adequate employee training programs.


Banks also face a host of other challenges such as aging ownership groups. Across the country, many banks’ management teams and board of directors are aging. Banks also face ongoing pressure by shareholders, both public and private, to achieve earnings and growth projections. Regulators place added pressure on banks to manage the various categories of risk. Banking is also an extremely competitive industry. Competing in the financial services industry has become tougher with the entrance of such players as insurance agencies, credit unions, check cashing services, credit card companies, etc.


Profitability

A bank generates a profit from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference is referred to as the spread between the cost of funds and the loan interest rate. Historically, profitability from lending activities has been cyclic and dependent on the needs and strengths of loan customers. In recent history, investors have demanded a more stable revenue stream and banks have therefore placed more emphasis on transaction fees, primarily loan fees but also including service charges on array of deposit activities and ancillary services (international banking, foreign exchange, insurance, investments, wire transfers, etc.). However, lending activities still provide the bulk of a commercial bank's income.


In the past 10 years in the United States, banks have taken many measures to ensure that they remain profitable while responding to ever-changing market conditions. First, this includes the Gramm-Leach-Bliley Act, which allows banks again to merge with investment and insurance houses. Merging banking, investment, and insurance functions allows traditional banks to respond to increasing consumer demands for "one-stop shopping" by enabling cross-selling of products (which, the banks hope, will also increase profitability). Second, they have expanded the use of risk-based pricing from business lending to consumer lending, which means charging higher interest rates to those customers that are considered to be a higher credit risk and thus increased chance of default on loans. This helps to offset the losses from bad loans, lowers the price of loans to those who have better credit histories, and offers credit products to high risk customers who would otherwise been denied credit. Third, they have sought to increase the methods of payment processing available to the general public and business clients. These products include debit cards, pre-paid cards, smart-cards, and credit cards. These products make it easier for consumers to conveniently make transactions and smooth their consumption over time (in some countries with under-developed financial systems, it is still common to deal strictly in cash, including carrying suitcases filled with cash to purchase a home). However, with convenience there is also increased risk that consumers will mismanage their financial resources and accumulate excessive debt. Banks make money from card products through interest payments and fees charged to consumers and transaction fees to companies that accept the cards. The Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub. ... Property type redirects here. ... In finance, default occurs when a debtor has not met its legal obligations according to the debt contract, e. ...


The banking industry's main obstacles to increasing profits are existing regulatory burdens, new government regulation, and increasing competition from non-traditional financial institutions.


Bank size information

Top ten banking groups in the world ranked by shareholder equity ($m)

The 2006 bank atlas was compiled from commercial banks’ annual reports and financial statements for 2006 and 2005.[6] Figures in U.S. dollars In business and accounting, the shareholders equity refers to the amount of assets that are owned by a companys shareholders. ... The United States dollar is the official currency of the United States. ...

Rank Country Company Shareholder equity ($m)
1 Flag of the United States United States Citigroup 112537 $mln
2 Flag of the United States United States JPMorgan Chase 107211 $mln
3 Flag of the United States United States Bank of America 101224 $mln
4 Flag of the United Kingdom United Kingdom HSBC 98226 $mln
5 Flag of Japan Japan Mitsubishi UFJ Financial Group 83281 $mln
6 Flag of France France Credit Agricole Group 65137 $mln
7 Flag of the United Kingdom United Kingdom Royal Bank of Scotland Group 64453 $mln
8 Flag of France France BNP Paribas 56610 $mln
9 Flag of Spain Spain Banco Santander 53640 $mln
10 Flag of Japan Japan Mizuho Financial Group 52243 $mln

Image File history File links This is a lossless scalable vector image. ... Citigroup Inc. ... Image File history File links This is a lossless scalable vector image. ... JPMorgan Chase (NYSE: JPM) is one of the oldest financial services firms in the world. ... Image File history File links This is a lossless scalable vector image. ... Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. ... Image File history File links Flag_of_the_United_Kingdom. ... For other uses, see HSBC (disambiguation). ... Image File history File links Flag_of_Japan. ... Mitsubishi UFJ Financial Group, Incorporated ) (TYO: 8306 NYSE: MTU ), or MUFG, is one of the worlds largest banks with assets of around USD $1. ... Image File history File links This is a lossless scalable vector image. ... Logo Credit Agricole Crédit Agricole SA (CASA) (Euronext: ACA) is the largest banking group in France, fourth biggest in Europe and the sixth largest in the world according to Global Finance magazine. ... Image File history File links Flag_of_the_United_Kingdom. ... The Royal Bank of Scotland Group plc (LSE: RBS) is a banking and insurance holding company based in Edinburgh, Scotland, UK.[1] It includes the The Royal Bank of Scotland plc (Scottish Gaelic: [2]) founded in 1727 by a Royal Charter of King George I.[3] The RBS Group is... Image File history File links This is a lossless scalable vector image. ... BNP Paribas (Euronext: BNP, TYO: 8665 ) is one of the main banks in Europe and France. ... Image File history File links Flag_of_Spain. ... Banco Santander Central Hispano is the largest bank in Spain and now has large scale operations in both the continents of Europe and South America. ... Image File history File links Flag_of_Japan. ... Mizuho Bank Ginza Branch Mizuho Financial Group, Inc. ...

Top ten banking groups in the world ranked by assets

Figures in U.S. dollars, and as at end-2004[7] The United States dollar is the official currency of the United States. ...

Rank Country Company Assets (US $)
1 Flag of the United Kingdom United Kingdom HSBC Holdings 1,861 billion
2 Flag of Switzerland Switzerland UBS 1,533 billion
3 Flag of the United States United States Citigroup 1,400 billion
4 Flag of Japan Japan Mizuho Financial Group 1,296 billion
5 Flag of France France Credit Agricole Group 1,243 billion
6 Flag of France France BNP Paribas 1,234 billion
7 Flag of the United States United States JPMorgan Chase & Co. 1,157 billion
8 Flag of Germany Germany Deutsche Bank 1,144 billion
9 Flag of the United Kingdom United Kingdom Royal Bank of Scotland 1,119 billion
10 Flag of the United States United States Bank of America 1,110 billion

Image File history File links Flag_of_the_United_Kingdom. ... For other uses, see HSBC (disambiguation). ... Image File history File links Flag_of_Switzerland. ... UBS AG (NYSE: UBS; SWX: UBSN; TYO: 8657) is a diversified global financial services company, with its main headquarters in Basel & Zürich, Switzerland. ... Image File history File links This is a lossless scalable vector image. ... Citigroup Inc. ... Image File history File links Flag_of_Japan. ... Mizuho Bank Ginza Branch Mizuho Financial Group, Inc. ... Image File history File links This is a lossless scalable vector image. ... Logo Credit Agricole Crédit Agricole SA (CASA) (Euronext: ACA) is the largest banking group in France, fourth biggest in Europe and the sixth largest in the world according to Global Finance magazine. ... Image File history File links This is a lossless scalable vector image. ... BNP Paribas (Euronext: BNP, TYO: 8665 ) is one of the main banks in Europe and France. ... Image File history File links This is a lossless scalable vector image. ... JPMorgan Chase & Co. ... Image File history File links Flag_of_Germany. ... Deutsche Bank AG (IPA: [1]) (ISIN: DE0005140008, NYSE: DB) (English: ) is a bank operating worldwide and employing more than 75,000 people (June, 2007). ... Image File history File links Flag_of_the_United_Kingdom. ... The Royal Bank of Scotland Plc (Scottish Gaelic: [1]) is one of the retail banking subsidiaries of Royal Bank of Scotland Group plc, which together with NatWest, provides branch banking facilities in the United Kingdom. ... Image File history File links This is a lossless scalable vector image. ... Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. ...

Top ten banks in the world ranked by market capitalisation

Figures in U.S. dollars, and as at 6 November 2007[8] The United States dollar is the official currency of the United States. ... is the 310th day of the year (311th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ...

Rank Country Company Market Capitalisation (US $)
1 Flag of the People's Republic of China China ICBC 256 billion
2 Flag of the United Kingdom United Kingdom HSBC 228 billion
3 Flag of the United States United States Bank of America 211 billion
4 Flag of the United States United States Citicorp 211 billion
5 Flag of the United States United States JPMorgan Chase 152 billion
6 Flag of Spain Spain Banco Santander 129 billion
7 Flag of Switzerland Switzerland UBS 117 billion
8 Flag of Italy Italy Unicredit 112 billion
9 Flag of the United States United States Wells Fargo 111 billion
10 Flag of the United Kingdom United Kingdom Royal Bank of Scotland 106 billion

Image File history File links Flag_of_the_Peoples_Republic_of_China. ... Industrial and Commercial Bank of China (ICBC) (Simplified Chinese: ; Traditional Chinese: ; Pinyin: , more commonly just 工行 Gōngháng) is the largest of Chinas Big Four state-owned commercial banks, the other 3 banks being the Bank of China, Agricultural Bank of China, and China Construction Bank, and one of... Image File history File links Flag_of_the_United_Kingdom. ... For other uses, see HSBC (disambiguation). ... Image File history File links This is a lossless scalable vector image. ... Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. ... Image File history File links This is a lossless scalable vector image. ... Citibank was founded in 1812 as City Bank of New York. ... Image File history File links This is a lossless scalable vector image. ... JPMorgan Chase & Co. ... Image File history File links Flag_of_Spain. ... Banco Santander Central Hispano is the largest bank in Spain and now has large scale operations in both the continents of Europe and South America. ... Image File history File links Flag_of_Switzerland. ... UBS AG (NYSE: UBS; SWX: UBSN; TYO: 8657) is a diversified global financial services company, with its main headquarters in Basel & Zürich, Switzerland. ... Image File history File links Flag_of_Italy. ... UniCredito Italiano SpA, UniCredit, UniCredit Group is an Italian, Milan- based pan- European Bank which operates in 19 countries with 28 million customers through 7,000 branches employing 140,000 people. ... Image File history File links This is a lossless scalable vector image. ... An older Wells Fargo branch, located in Berkeley, California Wells Fargos corporate headquarters and main branch Wells Fargo & Co. ... Image File history File links Flag_of_the_United_Kingdom. ... The Royal Bank of Scotland Plc (Scottish Gaelic: [1]) is one of the retail banking subsidiaries of Royal Bank of Scotland Group plc, which together with NatWest, provides branch banking facilities in the United Kingdom. ...

Top ten bank holding companies in the world ranked by profit

Figures in U.S. dollars, and as 2006[citation needed] The United States dollar is the official currency of the United States. ...

Rank Country Company Profit (US $)
1 Flag of the United States United States Citigroup 22.13 billion
2 Flag of the United Kingdom United Kingdom HSBC 22.086 billion
3 Flag of the United States United States Bank of America 21.13 billion
4 Flag of the United States United States JP Morgan Chase 14.44 billion
5 Flag of the United Kingdom United Kingdom Royal Bank of Scotland Group 12.1 billion
6 Flag of Switzerland Switzerland UBS 9.79 billion
7 Flag of the United States United States Goldman Sachs 9.34 billion
8 Flag of the United States United States Wells Fargo 8.48 billion
9 Flag of the United States United States Wachovia 7.79 billion
10 Flag of the United States United States Morgan Stanley 7.45 billion

Image File history File links This is a lossless scalable vector image. ... Citigroup Inc. ... Image File history File links Flag_of_the_United_Kingdom. ... For other uses, see HSBC (disambiguation). ... Image File history File links This is a lossless scalable vector image. ... Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. ... Image File history File links This is a lossless scalable vector image. ... J.P. Morgan Chase & Co. ... Image File history File links Flag_of_the_United_Kingdom. ... The Royal Bank of Scotland Group plc (LSE: RBS) is a banking and insurance holding company based in Edinburgh, Scotland, UK.[1] It includes the The Royal Bank of Scotland plc (Scottish Gaelic: [2]) founded in 1727 by a Royal Charter of King George I.[3] The RBS Group is... Image File history File links Flag_of_Switzerland. ... UBS AG (NYSE: UBS; SWX: UBSN; TYO: 8657) is a diversified global financial services company, with its main headquarters in Basel & Zürich, Switzerland. ... Image File history File links This is a lossless scalable vector image. ... The Goldman Sachs Group, Inc. ... Image File history File links This is a lossless scalable vector image. ... An older Wells Fargo branch, located in Berkeley, California Wells Fargos corporate headquarters and main branch Wells Fargo & Co. ... Image File history File links This is a lossless scalable vector image. ... For Moravian settlements in North Carolina, see Wachovia, North Carolina. ... Image File history File links This is a lossless scalable vector image. ... Morgan Stanley (NYSE: MS) is one of the largest and the most reputed investment banks headquartered in New York City. ...

Top ten banking groups in the world ranked by Tier 1 capital

Figures in U.S. dollars, and as at end-2005[9] Tier 1 capital is the core measure of a banks financial strength from a regulators point of view. ... The United States dollar is the official currency of the United States. ...

Rank Country Company Tier 1 Capital (US $)
1 Flag of the United Kingdom United Kingdom HSBC 79 billion
2 Flag of the United States United States Citigroup 75 billion
3 Flag of the United States United States Bank of America 73 billion
4 Flag of the United States United States JP Morgan Chase 72 billion
5 Flag of Japan Japan Mitsubishi UFJ Financial Group 64 billion
6 Flag of France France Credit Agricole Group 60 billion
7 Flag of the United Kingdom United Kingdom Royal Bank of Scotland 48 billion
8 Flag of Japan Japan Sumitomo Mitsui Financial Group 40 billion
9 Flag of Japan Japan Mizuho Financial Group 39 billion
10 Flag of Spain Spain Banco Santander 38 billion

Image File history File links Flag_of_the_United_Kingdom. ... For other uses, see HSBC (disambiguation). ... Image File history File links This is a lossless scalable vector image. ... Citigroup Inc. ... Image File history File links This is a lossless scalable vector image. ... Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. ... Image File history File links This is a lossless scalable vector image. ... J.P. Morgan Chase & Co. ... Image File history File links Flag_of_Japan. ... Mitsubishi UFJ Financial Group, Incorporated ) (TYO: 8306 NYSE: MTU ), or MUFG, is one of the worlds largest banks with assets of around USD $1. ... Image File history File links This is a lossless scalable vector image. ... Logo Credit Agricole Crédit Agricole SA (CASA) (Euronext: ACA) is the largest banking group in France, fourth biggest in Europe and the sixth largest in the world according to Global Finance magazine. ... Image File history File links Flag_of_the_United_Kingdom. ... The Royal Bank of Scotland Plc (Scottish Gaelic: [1]) is one of the retail banking subsidiaries of Royal Bank of Scotland Group plc, which together with NatWest, provides branch banking facilities in the United Kingdom. ... Image File history File links Flag_of_Japan. ... Sumitomo Mitsui Financial Group ) (TYO: 8316 ), or SMFG, is a Japanese financial group, the third largest bank in Japan. ... Image File history File links Flag_of_Japan. ... Mizuho Bank Ginza Branch Mizuho Financial Group, Inc. ... Image File history File links Flag_of_Spain. ... Banco Santander Central Hispano is the largest bank in Spain and now has large scale operations in both the continents of Europe and South America. ...

See also

Wikimedia Commons has media related to:
Look up bank, banking in Wiktionary, the free dictionary.

Image File history File links Commons-logo. ... Wikipedia does not have an article with this exact name. ... Wiktionary (a portmanteau of wiki and dictionary) is a multilingual, Web-based project to create a free content dictionary, available in over 150 languages. ... Money Masters LLC, a Registered Investment Advisory Firm; and neither the article nor the film are related to the book The Money Masters, The Money Masters is a 1995 movie, produced by Patrick S. J. Carmack and directed and narrated by Bill Still, who assert the film is a documentary...

Country specific information

Historically, the Banking industry in Australia was tightly regulated. ... Banking in Canada is one of the most efficient and safest banking systems in the world. ... Structure of the organised banking sector in India. ... Banking in Israel has its roots in the Zionist movement in the beginning of the 20th century prior to the establishment of the State of Israel in 1948. ... Italian banks ranked by Market Cap (According to Il Sole 24 ore, 31 July 2007) ... There are significant regulations for banking in Russia. ... Banking in Switzerland is characterized by stability, privacy and protection of clients assets and information. ... // The table shows the main independent British banks. ... This article does not cite any references or sources. ... This is a list of some of the major banking company mergers since 1930 in the U.S. ^ SunTrust to buy National Commerce Financial. ...

Types of institution

A mutual savings bank is a financial institution chartered by a state or federal government to provide a safe place for individuals to save and to invest those savings in mortgages, loans, stocks, Bonds and other securities. ... A credit union is a cooperative financial institution that is owned and controlled by its members. ... An industrial loan company (ILC) or industrial bank is a financial institution in the United States that lends money, and may be owned by non-financial institutions. ... A mutual savings bank is a financial institution chartered by state or federal government to: (1) provide a safe place for individuals to save and (2) invest those savings in mortgages loans, stocks, bonds and other securities. ... A savings and loan association is a financial institution which specializes in accepting savings deposits and making mortgage loans. ... A savings bank is a financial institution whose primary purpose is accepting savings deposits. ... Sparebank is a Norwegian savings bank without external owners. ... An ethical bank, also known as social, alternative or sustanaible bank, is a bank concerned about the social use of its investments and loans. ... Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. ... A bankers bank is a financial institution that provides financial services to community banks in the United States of America. ... This article or section contains information that has not been verified and thus might not be reliable. ...

Terms and concepts

Bank regulations are a form of government regulation which subject banks to certain requirements, restrictions and guidelines, aiming to uphold the soundness and integrity of the financial system. ... It has been suggested that Safecatch be merged into this article or section. ... Finance studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. ... Ibans doing the ngajat A Modern Iban Longhouse in Kapit Division IBAN is also an acronym for International Bank Account Number The Ibans were formerly known during the colonial period by the British as Sea Dayaks and are a branch of the Dayak peoples of Borneo. ... Online banking (Internet banking) is a term used for performing transactions, payments etc. ... Mobile banking (also known as M-Banking, mbanking, etc. ... For other uses, see Money (disambiguation). ... I warn you, Sir! The discourtesy of this bank is beyond all limits. ... This article needs to be wikified. ... Majapahit terracotta piggy bank, 14-15 century AD Trowulan, East Java. ... Pigmy Deposit Scheme is a monetary deposit scheme introduced by Syndicate Bank, India. ... For other uses, see Swift (disambiguation). ... Venture capital is a general term to describe financing for startup and early stage businesses as well as businesses in turn around situations. ... A wire transfer is a method of transferring funds from one entity to another. ...

Related lists

This is a list of banks throughout the world. ... Topics in finance include: // Finance an overview Arbitrage Capital (economics) Capital asset pricing model Cash flow Cash flow matching Debt Default Consumer debt Debt consolidation Debt settlement Credit counseling Bankruptcy Debt diet Debt-snowball method Discounted cash flow Financial capital Funding Financial modeling Entrepreneur Entrepreneurship Fixed income analysis Gap financing... Following is a list of accounting topics. ... This aims to be a complete list of the articles on economics. ... Please wikify (format) this article or section as suggested in the Guide to layout and the Manual of Style. ... This is a list of stock exchanges. ...

Further reading

  • Tiwari, Rajnish and Buse, Stephan (2006): The German Banking Sector: Competition, Consolidation and ContentmentPDF (43.5 KiB), Hamburg University of Technology (TU Hamburg-Harburg)
  • Brunner, A., Decressin, J. / Hardy, D. / Kudela, B. (2004): Germany’s Three-Pillar Banking System – Cross-Country Perspectives in Europe, Occasional Paper, International Monetary Fund, Washington DC 2004.
  • Rothbard, Murray N. / Richardson & Snyder. 1983. The Mystery of Banking Full 177-page text in pdf formatPDF (2.67 MiB).

“PDF” redirects here. ... A kibibyte (a contraction of kilo binary byte) is a unit of information or computer storage, commonly abbreviated KiB (never kiB). 1 kibibyte = 210 bytes = 1,024 bytes The kibibyte is closely related to the kilobyte, which can be used either as a synonym for kibibyte or to refer to... Murray Newton Rothbard (March 2, 1926 – January 7, 1995) was an influential American economist, historian and natural law theorist belonging to the Austrian School of Economics who helped define modern libertarianism. ... “PDF” redirects here. ... MiB redirects here. ...

Notes

  1. ^ de Albuquerque, Martim (1855). Notes and Queries. London: George Bell, 431. 
  2. ^ Matyszak, Philip (2007). Ancient Rome on Five Denarii a Day. New York: Thames & Hudson, 144. ISBN 050005147X. 
  3. ^ http://www.ifsl.org.uk/uploads/CBS_Banking_2006.pdfPDF (208 KiB) chart 26, page 15
  4. ^ http://www.ifsl.org.uk/uploads/CBS_Banking_2006.pdfPDF (208 KiB) chart 28, page 15
  5. ^ "KNOWLEDGE The Most Valuable Intangible" by Anju P. Bhargava. The RMA Journal, June 2001;
  6. ^ http://www.euromoney.com/page.asp?PageID=2050 Euromoney, Bank atlas: The world's biggest banks. List of the world's ten largest banks by Shareholder equity, 2006
  7. ^ http://www.economist.com/surveys/displaystory.cfm?story_id=6908408 The Economist, Thinking big, List of the world's ten largest banks by assets in 2007
  8. ^ Data from Thompson Financial Datastream as at 6 November 2007
  9. ^ http://www.economist.com/markets/indicators/displaystory.cfm?story_id=7141354 The Economist, The world's biggest banks, List of the world's ten largest banks by Tier 1 capital at the end of 2005

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