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Erschienen in:
What Gives Money Its Value? From Gold to Paper Kapitel lesen Erstes Kapitel lesen

2013 | OriginalPaper | Buchkapitel

3. How Are Banks Funded?

verfasst von : William H. Wallace

Erschienen in: The American Monetary System

Verlag: Springer International Publishing

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Abstract

The principal function of the banking system is to facilitate the process of intermediation – that is, to convert the savings of society into productive investments, by obtaining deposits and making loans. Note that the emphasis is on system, as opposed to the individual bank, because a single bank cannot accomplish this task, but the system as a whole can do so and does. This is the reason that banks are referred to as financial intermediaries – the banking system brings together savers and investors.

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Vorheriges Kapitel What Is Driving the Financial World Today?
Nächstes Kapitel How Do Banks Use Their Funds? The Asset Side of the Balance Sheet
Fußnoten
1
The reader should be aware that, with respect to most categorical statements like this one, there are occasional very rare exceptions that can occur in extreme financial emergencies. Examples of this will be discussed later in the chapter.
 
2
The reason for limiting the checking privileges was to distinguish MMDAs from regular deposits with unlimited checking privileges, which would require reserves.
 
3
Board of Governors of the Federal Reserve System, Reserve Requirements, October 26, 2011. The Fed issues a press release updating reserve requirements in October of each year to be effective at the beginning of the following calendar year. It modifies the amounts defining each of the three categories on the basis of the percentage of annual growth or decline in total checkable deposits in the US banking system – for example, if total deposits in the United States grow by 5 %, the $79.5 million and the 12.4 million will be raised by 5 %.
 
4
The term, “moral hazard,” in a banking context, has come to mean the tendency of banks to take greater risk with depositors’ money because they know they are protected by the federal government (i.e., the FDIC), which will cover their losses by protecting the depositors in case the banks make wrong decisions. We have seen the truth of this during the banking crisis of 2007–2012.
 
5
The CAMELS rating, which will be explained in more detail in Chap. 6, is an evaluation assigned to banks by their regulators, where the acronym stands for Capital, Assets, Management, Earnings, Liquidity, and Sensitivity to market risk. A bank is given a grade on each of these attributes and then averaged for the bank as a whole, ranging from 1, which is the highest, to 5, which is the lowest.
 
Literatur
1.
Lewis M (2010) The big short. W.W. Norton, New York
2.
Board of Governors of the Federal Reserve System, Statistical Release H.8, Assets and liabilities of commercial banks in the United States. 25 May 2012.
3.
Lind M (2012) Land of promise: an economic history of the United States. Harper Collins, New York, Chap. 1
4.
Bair S (2013) Bull by the horns. The Free Press, New York
5.
Eaglesham J, Baer J (2010) SEC to target bank ‘Window Dressing’. Financial Times, London, 17 Sept 2010
6.
McKinley V (2011) Financing failure: a century of bailouts. The Independent Institute, Oakland, p 313
Metadaten
Titel
How Are Banks Funded?
verfasst von
William H. Wallace
Copyright-Jahr
2013
Buch
The American Monetary System

Print ISBN: 978-3-319-02906-1

Electronic ISBN: 978-3-319-02907-8

Copyright-Jahr: 2013

DOI
https://doi.org/10.1007/978-3-319-02907-8_3