商业银行及其监管(1)
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competition between depository institutions and nondepository financial firms, and
competition between the same type of competitors across world markets
2003年12月27日通过，2004年2月1日起施行
2/34
Fundamental Forces of Changes in Banking
What were banks in the past? Two areas of changes Fundamental Forces of Changes
4/34
Two areas of changes
Traditional role of banks as financial intermediaries declined
New products such as cash management accounts, mutual funds, commercial paper, and junk bonds have become more prevalent.
Banks have responded by accepting lower spreads, taking on more risk, and expanding their customer and product base.
Evolution of banking into nontraditional roles
Actively pursue the use of technology in the development and delivery of products.
Internet banking
Gramm-Leach-Bliley Act eliminates most of the remaining restrictions that have separated commercial banking, investment banking, and insurance for over 70 years.
第一章 商业银行及其监管
1/34
第一章 商业银行及其监管
Fundamental Forces of Changes in Banking
《中国银行业及其监管的改革与发展》
唐双宁，《金融时报》2004年7月5日
《中华人民共和国商业银行法》
1995年7月1日施行，2003年12月27日修改
《中华人民共和国银行业监督管理法》
As a result, they were the safest and most conservative business.
Although regulations limited opportunities and risks, they virtually guaranteed a profit.
Deregulation sped up the process, but did not necessarily start it.
7/34
Regulatory Dialectic
Since World War II, banks and other market participants have consistently restructured their operations to circumvent regulation and meet perceived customer needs. In response, regulators or lawmakers would impose new restrictions, which market participants circumvented again.
8/34
Regulatory Dialectic
Regulation: Restrictions
Байду номын сангаас6/34
Deregulation and Competition
Many analysts attribute much of the change in the financial services industry to deregulation.
Deregulation was a natural response to increased competition rather than the catalyst of competition.
5/34
Evolution of banking into nontraditional roles
Expand into nontraditional areas and products to generate more fee income.
Investment banking, off-balance sheet activities
Deregulation and reregulation Financial innovation Securitization Globalization Advances in technology
3/34
What were banks in the past?
Historically, commercial banks have been the most heavily regulated companies.
Resulted in a banking system with a large number of smaller banks that was limited in the scope of products and services that could be offered and the geographic areas where individual banks could compete.
competition between the same type of competitors across world markets
2003年12月27日通过，2004年2月1日起施行
2/34
Fundamental Forces of Changes in Banking
What were banks in the past? Two areas of changes Fundamental Forces of Changes
4/34
Two areas of changes
Traditional role of banks as financial intermediaries declined
New products such as cash management accounts, mutual funds, commercial paper, and junk bonds have become more prevalent.
Banks have responded by accepting lower spreads, taking on more risk, and expanding their customer and product base.
Evolution of banking into nontraditional roles
Actively pursue the use of technology in the development and delivery of products.
Internet banking
Gramm-Leach-Bliley Act eliminates most of the remaining restrictions that have separated commercial banking, investment banking, and insurance for over 70 years.
第一章 商业银行及其监管
1/34
第一章 商业银行及其监管
Fundamental Forces of Changes in Banking
《中国银行业及其监管的改革与发展》
唐双宁，《金融时报》2004年7月5日
《中华人民共和国商业银行法》
1995年7月1日施行，2003年12月27日修改
《中华人民共和国银行业监督管理法》
As a result, they were the safest and most conservative business.
Although regulations limited opportunities and risks, they virtually guaranteed a profit.
Deregulation sped up the process, but did not necessarily start it.
7/34
Regulatory Dialectic
Since World War II, banks and other market participants have consistently restructured their operations to circumvent regulation and meet perceived customer needs. In response, regulators or lawmakers would impose new restrictions, which market participants circumvented again.
8/34
Regulatory Dialectic
Regulation: Restrictions
Байду номын сангаас6/34
Deregulation and Competition
Many analysts attribute much of the change in the financial services industry to deregulation.
Deregulation was a natural response to increased competition rather than the catalyst of competition.
5/34
Evolution of banking into nontraditional roles
Expand into nontraditional areas and products to generate more fee income.
Investment banking, off-balance sheet activities
Deregulation and reregulation Financial innovation Securitization Globalization Advances in technology
3/34
What were banks in the past?
Historically, commercial banks have been the most heavily regulated companies.
Resulted in a banking system with a large number of smaller banks that was limited in the scope of products and services that could be offered and the geographic areas where individual banks could compete.