financialcrisesandthesubprimemeltdown(编辑修改稿)

financialcrisesandthesubprimemeltdown(编辑修改稿)内容摘要：

ey. All rights reserved. 920 FIGURE 3 Sequence of Events in Emerging Market Financial Crises Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 921 FIGURE 2 Treasury Bill–to–Eurodollar Rate (TED) Spread Source: Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. Chapter 10 Banking and the Management of Financial Institutions Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 923 The Bank Balance Sheet • Liabilities – Checkable deposits – Nontransaction deposits – Borrowings – Bank capital Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 924 The Bank Balance Sheet • Assets – Reserves – Cash items in process of collection – Deposits at other banks – Securities – Loans – Other assets Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 925 Table 1 Balance Sheet of All Commercial Banks (items as a percentage of the total, December 2020) Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 926 Basic Banking: Cash Deposit • Opening of a checking account leads to an increase in the bank’s reserves equal to the increase in checkable deposits First National Bank First National Bank Assets Liabilities Assets Liabilities Vault Cash +$100 Checkable deposits +$100 Reserves +$100 Checkable deposits +$100 Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 927 Basic Banking: Check Deposit W h e n a b a n k r e c e i v e s a d d i t i o n a l d e p o s i t s , i t g a i n s a n e q u a l a m o u n t o f r e s e r v e s。 w h e n i t l o s e s d e p o s i t s , i t l o s e s a n e q u a l a m o u n t o f r e s e r v e sFirst National Bank Second National Bank Assets Liabilities Assets Liabilities Reserves +$100 Checkable deposits +$100 Reserves $100 Checkable deposits $100 First National Bank Assets Liabilities Cash items in process of collection +$100 Checkable deposits +$100 Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 928 Basic Banking: Making a Profit • Asset transformation: selling liabilities with one set of characteristics and using the proceeds to buy assets with a different set of characteristics • The bank borrows short and lends long First National Bank First National Bank Assets Liabilities Assets Liabilities Required reserves +$10 Checkable deposits +$100 Required reserves +$10 Checkable deposits +$100 Excess reserves +$90 Loans +$90 Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 929 Bank Management • Liquidity Management • Asset Management • Liability Management • Capital Adequacy Management • Credit Risk • Interestrate Risk Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 930 Liquidity Management: Ample Excess Reserves • Suppose bank’s required reserves are 10% • If a bank has ample excess reserves, a deposit outflow does not necessitate changes in other parts of its balance sheet Assets Liabilities Assets Liabilities Reserves $20M Deposits $100M Reserves $10M Deposits $90M Loans $80M Bank Capital $10M Loans $80M Bank Capital $10M Securities $10M Securities $10M Copyright 169。 2020 Pearson AddisonWesley. All rights reserved. 931 Liquidity Management: Shortfall in Reserves • Reserves are a legal requirement and the shortfall must be eliminated • Excess reserves are insurance against the costs associated with deposit outflows Assets Liabilities Assets Liabilities Reserves $10M Deposits $100M Reserves $0 Deposits $90M Loans $90M Bank Capital $10M Loans $90M Bank Capital $10M Securities $10M Securities $10M Copyright 169。 2020 Pearson AddisonWesley。