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A Guide to Financial Institutions by Charles R. Geisst (auth.)

By Charles R. Geisst (auth.)

An introductory survey of monetary associations in Britain and the USA. Discusses the constitution and capabilities of business banks, development institutions, funding banks, existence insurance firms and pension money, and American federal corporations. additionally encompasses a bankruptcy at the monetary deregulation and occasions of the Nineteen Eighties that helped create the present monetary weather. comprises examples and tables during the text.

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If a depositor's money is not rechannelled into a loan it will find its way into the money markets or securities markets so that the bank can book an asset opposite the liability to the depositor. But not all of a depositor's funds will be loaned or invested. This is due to reserve requirements stipulating that a certain percentage of each deposit taken in must be held as primary reserves at the central bank. These are used to ensure that there will be funds on hand should the bank's depositors decide to withdraw funds.

Serious consequences can occur if their ability to generate credit becomes impaired unless the central bank is intent on tightening up on the amount of credit available. And there is another aspect of bank lending, international lending, that has burgeoned within the last decade while at the same time eluding monetary authorities in many cases. During the 1970s, the international banking community grew in geometrical proportions because of the impact of oil price increases. Dollar balances rose in European banks, mainly in London, Paris, and Switzerland as OPEC countries deposited much of their newfound wealth in the euromarkets.

Those banks that lend excess reserves to others in fact create money by doing so. A loan to a customer, even when matched by a deposit, does not technically have any effect in the marketplace until the reserve level has been met. Because banks have this particular power their activities in extending credit become of vital importance to the state of the economy as a whole. Serious consequences can occur if their ability to generate credit becomes impaired unless the central bank is intent on tightening up on the amount of credit available.

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