Download Banking: A Very Short Introduction by John O. S. Wilson PDF

By John O. S. Wilson

Banks are of significant value for fiscal progress, the allocation of capital, competitiveness, and monetary balance. Propelled by way of technological advances in monetary research and monetary deregulation, the banking industry's funding performed a key function in bettering nationwide monetary progress within the early twenty first century. the worldwide monetary difficulty in 2007 printed the banking world's ft of clay.

Since 2007, the turmoil within the worldwide economy has caused a primary reappraisal of the size, scope, governance, functionality, safeguard and soundness of banks and different monetary associations. during this Very brief Introduction John Goddard and John Wilson discover the area of banking, describing the position of imperative banks in nationwide and international economies, and examining the expanding supervision and legislation imposed at the banking undefined. trying to the longer term, the authors contemplate proposals for reform of the banking undefined, and the clients of a solution of the closely-related banking and sovereign debt crises.

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Extra info for Banking: A Very Short Introduction

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The payments system The payments system is the banking infrastructure for the processing and settlement of financial transactions between people and organizations. For many decades, the cheque (‘check’ in the US) was the most important component of the payments system. A cheque is an instruction from a customer to his bank to transfer funds from the customer’s account to the account of the payee named on the cheque. Cheques allow transactions to take place without transferring large amounts of currency.

MFIs are institutions licensed to accept deposits, including branches of banks domiciled elsewhere in the European Economic Area, but not including credit unions, friendly societies, and insurance companies. Table 1 UK monetary financial institutions, aggregate balance sheet in £bn (summary), December 2015 Banks earn profits by charging borrowers higher rates of interest than they pay depositors and other suppliers of funds, and by charging fees for a range of other financial services. A company’s income statement reports the main components of income generated and costs incurred by the company over a specific period, and the profit (or loss) accruing to the company’s shareholders.

A bond issued by a bank is a commitment on the part of the bank to make regular payments to the investor over the lifetime of the bond, equivalent to interest payments on the nominal value of the bond, and to repay the nominal value at a specified date of maturity. Typically the total amount repaid exceeds the initial purchase price of the bond, in order to provide the investor with a return. The issue of a bond is analogous to the bank borrowing funds from the bond purchaser or investor. The value of bonds the bank has issued but not yet redeemed appears as debt on the bank’s balance sheet.

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