BankManagement银行管理复习Word文件下载.docx
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Fivefundamentalforceshavetransformedthefinancialservicesmarket:
1.Deregulation/re-regulation
2.Financialinnovation
3.Securitization
4.Globalization
5.Advancesintechnology.
Thelatterfactorsactuallyrepresentresponsestoderegulationandre-regulation.
P8-p9.
Commercialpaper
Unpledged,short-term,basedoncredit.
Highqualitycorporateborrowershavealwayshadtheoptiontoissuecommercialpaper.
Junkbonds
Advantages:
accesstolargeramountoffunds,longer-termfinancing,andfewerrestrictivecovenants.
It'
ssuitableformedium-sizedcompaniesrepresentinglower-qualityborrowers.
P20.Securitization
Securitizationistheprocessofconvertingassetsintomarketablesecurities.
1.Itenablesbankstomoveassetsoff-balancesheetandincreasefeeincome.
2.Itincreasescompetitionforstandardizedproductssuchas:
mortgagesandothercredit-scoredloans.
3.Eventuallylowersthepricespaidbyconsumersbyincreasingthesupplyandliquidityoftheseproducts.
P22.
Theobjectivesbehindsecuritizationincludethefollowing:
1.Freecapitalforotheruses
2.ImproveROEviaservicingincome
3.Diversifycreditrisk
4.Obtainnewsourcesofliquidity
5.Reduceinterestraterisk
Chapter2AnalyzingBankPerformance
P35.
Accountingforsecurities
Atpurchase,mustdesignatetheobjectivebehindbuyinginvestmentsecuritiesaseither:
1.held-to-maturitysecuritiesarerecordedonthebalancesheetatamortizedcost.
2.tradingaccountsecuritiesareactivelyboughtandsold,sothebankmarksthesecuritiestomarket(reportsthematcurrentmarketvalue)onthebalancesheetandreportsunrealizedgainsandlossesontheincomestatement.
3.available-for-sale,allotherinvestmentsecurities,arerecordedatmarketvalueonthebalancesheetwithacorrespondingchangetostockholderseq'
uityasunrealizedgainsandlossesonsecuritiesholdings.
P36,37
Demanddepositsaretransactionsaccountsthatpaynointerest.
NOWs,ATSaccounts:
payinterestsetbyeachbankwithoutfederalrestrictions.NOWsareavailableonlytononcommercialcustomers.
BrokereddepositstypicallyreferstojumboCDsthatabankobtainsthroughabrokeragehousethatmarketstheCDstoitscustomers.
Coredepositsarestabledepositsthatarenothighlyinterestrate-sensitive.
Coredepositsinclude:
demanddeposits,NOWaccounts,MMDAs,andsmalltimedeposits.
Volatileliabilitiesornetnon-coreliabilitiesinclude:
jumboCDs(over100,000),depositsinforeignoffices,federalfundspurchased,repurchaseagreements,andotherborrowingswithmaturitieslessthanoneyear.
P39,42
NII=II-IE
Burden=OE-OI
EFF=OE/(NII+OI)
NI=NII-Burden-PLL+SG-T
II:
interestincome,IE:
interestexpense,NII:
netinterestincome,OI:
noninterestincome,
OE:
noninterestexpense,EFF:
efficiencyratio,PLL:
provisionsforloanlosses,
SG:
securitieslosses,T:
taxes
Interestincomeisthesumofinterestandfeesearnedonallofabank'
sassets,including:
Loans,Depositsheldatotherinstitutions,Municipalandtaxablesecurities,investmentandtradingaccountsecurities,rentalreceiptsfromleasefinancing.
Interestexpenseisthesumofinterestpaidonallinterest-bearingliabilities,including:
transactionsaccounts(NOWs,ATSandMMDA),timeandsavingsdeposits,short-termnoncoreliabilities,andIong-termdebt.
Noninterestincome:
trustorfiduciaryincome,feesanddepositservicecharges,tradingrevenues,otherforeigntransactionsandothernoninterestincome.
Noninterestexpenseiscomposedprimarilyof:
1.Personnelexpense:
salariesandfringebenefitspaidtobankemployees,
2.Occupancyexpense:
rentanddepreciationonequipmentandpremises,and
3.Otheroperatingexpenses:
utilitiesanddepositinsuraneepremiums.
P45
BankPerformaneeModel
P46-P48
Returnonequity(ROE=NI/TE)
ROEiscomposedoftwoparts:
ReturnonAssets(ROA=NI/TA);
EquityMultiplier(EM=TA/TE),
ROE=ROAEM
NI=Totalrevenue(TR)-Totaloperatingexpense(EXP)-TaxesROA=NI/aTA=TR/aTA-EXP/aTA-Taxes/aTA
P48,49
Rateeffectssuggestthattheinterestcostperliability,whichindicatestheaveragecostoffinancingassets,maydifferbetweenbanks.
Composition(mix)effectssuggestthatthemixofliabilitiesmaydiffer.
Volumeeffectsrecognizethatabankmaypaymoreorlessininterestexpensesimplybecauseitoperateswithdifferentamountofinterest-bearingdebtandequityand,thus,paysinterestonadifferentamountofliabilities.
P50,51
Earningsbase(EB)=Averageearningassets/aTA
Earningassetsincludeallassetsthatgenerateexplicitinterestincomeplusleasereceipts.Itcanbemeasuredmosteasilybysubtractingallnonearningassets,suchasnoninterestcashandduefrombanks,acceptances,premises,andotherassets,fromtotalassets.
Netinterestmargin:
NIM=NII/earningassets(EA)
Spread=(intinc/EA)-(intexp/intbear.Liab.)
Burdenratio=(Noninterestexp.-Noninterestincome)/aTA
Efficiencyratio=Nonint.Exp./(Netint.Inc.+Nonint.Inc.)
P52
TheFederalReserveBoardhasidentifiedsixtypesofrisk:
1.Creditrisk
2.Liquidityrisk
3.Marketrisk
4.Operationalrisk
5.Capitalorsolvencyrisk
6.Legalrisk
7.Reputationalrisk
P55
Past-dueloansrepresentsloansforwhichcontractedinterestandprinciplepaymentshavenotbeenmadebutarestillaccruinginterest.Pastdueareoftenseparatedinto30-89dayspastdueand90daysandoverpastduedate.
Nonperformingloansisloansthataremorethan90dayspastdue.
Nonaccrualloansarethosenotcurrentlyaccruinginterest.Theseloansarecurrently-orhavebeenhabitually-pastdue,orhaveotherproblems,whichhaveplacedtheninnonaccrualstatus.
Totalnoncurrentloansarethesumofthesetwotypesofloans.
Restructuredloansareloansforwhichthelenderhasmodifiedtherequiredpaymentsonprincipalorinterest.Thelendermayhavelengthenedmaturityand/orrenegotiatedtheinterestrate.
Classifiedloansaregeneralcategoryofloansinwhichhaveregulatorshaveforcedmanagementtosetasidereservesforclearlyrecognizedlosses.
P72
Camelsratings
C=capitaladequacy
A=assetquality
M=managementquality
E=earnings
L=liquidity
S=sensitivitytomarketrisk
Chapter3ManagingNoninterestIncomeandNoninterestExpense
P89
Keyratios:
Burden=nonint.exp.-nonint.inc.,
Netoverheadexpense=burden/totalassets,
Efficiencyratio=nonint.Exp.(netint.inc.+nonint.inc.)
Operatingriskratios:
Operatingriskratio=(Noninterestexpense-Feeincome)/Netinterestmargin
Someanalystsfocusonabank'
soperatingriskratioinordertodifferentiateperformanceattributabletocostcontrolsversusfeegeneration.
Theloweristheoperatingriskratio,thebetteristhebank'
soperatingper.foBremcanucseit
generatesproportionatelymoreofitsrevenuesfromfees,whicharemorestableandthusmorevaluable.
Productivityratiosindicatehowefficientlybanksareusingtheiremployeesrelativetocapitalassets.
Twocommonlycitedratiosare:
1.Assetsperfulltimeemployee=Averageassets/Numberoffull-timeemployees
2.Averagepersonnelexpense=Personalexpense/Numberoffull-timeemployees
Themoreproductivebanktypicallyhasfeweremployeesperdollarofassetsheldandoftencontrolspersonnelexpenseperemployeebetter.
Thesecondratioisoftenhighforhighperformancebanksbecausetheyoperatewithfewerpeoplebutpaythemmore.
Communitybanksalsotypicallyexaminetwoadditionalratios,becauseloanstypicallyrepresentthelargestassetholding,itismeaningfultocalculatealoans-per-employeeratioasanindicatorofloanproductivity.
Sinceloansareoftenasthelargestassetheld,communitybanksexamine:
Loansperfulltimeemployee=Averageloans/Numberoffull-timeemployees
Aratioofnetincomeperemployeegenerallyindicatestheproductivityandprofitabilityofabank'
sworkforce:
Netincomeperemployee=Netincome/Numberoffull-timeemployees
p96
Strategiestomanagenoninterestexpense
Fourdifferentstrategiesare:
1.expensereduction,
2.increaseoperatingefficiency,
3.changingproductpricing
4.pursuingcontributiongrowthwherebynoninterestrevenuesrisebymorethannoninterestexpense.
expensereduction:
Manybanksbegincostmanag