Wednesday, October 16, 2013

 Banking is the business of accepting temporary responsibility for safeguarding other people's money (預金) and then lending out these funds (zusammen mit der Banker Eigenmittel) in order to earn interest for the bank's own account. Banking firms thus earn their profits primarily by serving as “финансовые посредники” who mobilize the scattered savings of many households and firms (โดยนำเสนอการให้บริการเก็บรักษาและจ่ายดอกเบี้ยอย่างน้อยบางชนิดของบัญชี) and then make these pooled funds available to suitable borrowers (pour entreprises qui souhaitent financer des projets d'investissement proposés ou peut-être pour les consommateurs qui veulent financer des biens de Big Ticket consommation durables comme les automobiles ou peut-être à des entités gouvernementales dont les décideurs ont décidé de dépenser plus d'argent que ce qu'ils ont reçu dans le recouvrement des recettes).

The bank pledges its own capital 存款保险购买 to guarantee that any depositor can get all his/her money back in cash no later than some contractually specified length of time after giving notice of withdrawal. The bank makes this somewhat risky guarantee even though it is quite predictable that some (hopefully small) percentage of the loans the bankers make using depositers' funds will “turn sour” and not be repaid by the borrower. The bank's profits arise mainly from the (positive) spread between its costs of securing and servicing deposits and its revenues from fees and interest on the loans extended. É claro que os bancos freqüentemente procuram obter lucros adicionais que vendem outros serviços financeiros aos seus clientes e consumidores, bem como, mas o negócio de aceitar depósitos e fazer empréstimos é o núcleo definidor do negócio bancário.

Non tutte le imprese di impegnarsi in “banking” in this broad sense are officially called “banks.” Savings and loan associations, credit unions and other miscellaneous thrift institutions provide similar services under other names. The laws of the United States and most other developed industrial countries provide for multiple types of financial intermediary institutions whose official “labels” normally depend upon the selected purposes for which they will loan money (business loans, consumer loans, real estate mortgages, etc.), the maximum time period for which they will contract a loan (2 years? 5 years? 30 years?), and the kinds of supplementary services (checking privileges, foreign exchange, management of trusts and estates, etc.) that they may provide for their customers beyond basic taking of deposits and proroga dei prestiti.

Banks are mainly of interest because of their key role in determining the size of the money stock. Considerevolmente meno della metà della statunitense money stock consists of physical cash or currency (coins and bills). Most of the money stock in the US (or any other present-day advanced industrial economy) is in the form of “mere” ledger entries representing bank depositers' credit balances in their individual or corporate checking accounts. And, amazingly enough to the uninitiated, this means that banks are constantly creating money “out of thin air” simply by making bookkeeping entries that assign new checking account credits to Kunden, wie sie nehmen Kredite von der Bank.

Private banks просто не может создавать деньги из воздуха без предела and still expect to stay in business. When the bank credits a borrower's account with the amount of his new loan, it is to be expected that the borrower will very soon want to spend part or all of the money he has borrowed. After the check the borrower writes is deposited in somebody else's account in another bank, the check will soon be presented for collection at the lending bank, and they will have to have the cash on hand to pay the other bank off at that time. The more dollars' worth of loans a bank has extended, the more cash it will have to have on hand in reserves to meet the daily flow of redemptions. Most or all of the check redemption demands coming in every day can normally be offset by the cash and checks drawn on other banks that the depositers and borrowers have brought in and deposited or paid that day, but an “unsound” bank that extends loans with reckless abandon sooner or later will find that the flow of checks presented to it for collection greatly exceeds the flow of outside checks and cash being brought in. Once the bank's vaults are empty and the cash reserves are gone, the management must quickly (overnight!) either borrow the necessary additional cash elsewhere (probabilmente a tassi di interesse elevati) or else sell off some of the bank's assets (because of the haste, probably at fire-sale prices). When the troubled bank can no longer borrow and has no assets left that can be sold on short notice, it can no longer fulfill its ontractual guarantees to pay its obligations on demand and is therefore out of business with the banks owners and managers now subject to civil (and perhaps criminal) legal penalties (bankrupcy, suits for breach of contract, negligence, and fraud, indictments for fraud, embezzlement, etc.).

Banks limit the volume of the loans they extend so that they remain in a prudent proportional relationship to the amount of instantly liquid funds they have available in “reserves” (either as currency in the vault or as demand deposits in some other bank, such as the Federal Reserve). But bankers face a difficult trade-off. The flow of checks that will be presented for payment and the volume of new deposits and loan repayments coming in every day cannot be predicted with 100% accuracy, so the higher the fraction of its total deposit obligations the bank holds ready in reserves, the safer or “sounder” the bank can be considered (og jo mer attraktiv banken vil synes å depositers og andre potensielle forretningsforbindelser).

However, reserves do not yield any interest income to the bank, ローン縛られているだけの資金 to (solvent) borrowers can contribute directly and immediately to the bank's profitability. To maximize their profits, bank management must find the best way to strike a balance between the need to maintain their “reserve ratio” at a level high enough to limit their risks of becoming insolvent and the conflicting need to keep the highest feasible percentuale dei fondi disponibili della banca in prestito ad interesse.

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