Bank 银行 英语作文 银行在经济中的作用.docx
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Bank 银行 英语作文 银行在经济中的作用.docx
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Bank银行英语作文银行在经济中的作用
Bank
Thebankingsystemwasarevolutionaryideathatchangedtheeconomicalsystemworldwide.Thebankingsystemwasstartedaround2000BC,butmodernbankingisnotthatold.Thebankisareallyimportantpartofourregularlife.Itisreallyeasyforanycitizentocreateanewbankaccountandstoremoneywithsecurity.
Therearedifferenttypesofpublicandprivatebanksineverycountry.Weshouldcreateanaccountofthetrustedbanksthathasareputationforalongtime.Rightnow,theonlinebankingsystemhasbeenstartedworldwide.Ithaschangedtheoldtraditionalmoneytransactionsystem.
Bank
Abankisafinancialinstitutionthatacceptsdepositsfromthepublicandcreatescredit.Lendingactivitiescanbeperformedeitherdirectlyorindirectlythroughcapitalmarkets.Duetotheirimportanceinthefinancialsystemandinfluenceonnationaleconomies,banksarehighlyregulatedinmostcountries.Mostnationshaveinstitutionalizedasystemknownasfractionalreservebankingunderwhichbanksholdliquidassetsequaltoonlyaportionoftheircurrentliabilities.Inadditiontootherregulationsintendedtoensureliquidity,banksaregenerallysubjecttominimumcapitalrequirementsbasedonaninternationalsetofcapitalstandards,knownastheBaselAccords.
Bankinginitsmodernsenseevolvedinthe14thcenturyintherichcitiesofRenaissanceItalybutinmanywayswasacontinuationofideasandconceptsofcreditandlendingthathadtheirrootsintheancientworld.Inthehistoryofbanking,anumberofbankingdynasties—notably,theMedicis,theFuggers,theWelsers,theBerenbergsandtheRothschilds—haveplayedacentralroleovermanycenturies.TheoldestexistingretailbankisBancaMontedeiPaschidiSiena,whiletheoldestexistingmerchantbankisBerenbergBank.
History
Bankingbeganwiththefirstprototypebanksofmerchantsoftheancientworld,whichmadegrainloanstofarmersandtraderswhocarriedgoodsbetweencities.Thisbeganaround2000BCinAssyriaandBabylonia.Later,inancientGreeceandduringtheRomanEmpire,lendersbasedintemplesmadeloansandaddedtwoimportantinnovations:
theyaccepteddepositsandchangedmoney.ArchaeologyfromthisperiodinancientChinaandIndiaalsoshowsevidenceofmoneylendingactivity.
TheoriginsofmodernbankingcanbetracedtomedievalandearlyRenaissanceItaly,totherichcitiesinthenorthlikeFlorence,Lucca,Siena,VeniceandGenoa.TheBardiandPeruzzifamiliesdominatedbankingin14th-centuryFlorence,establishingbranchesinmanyotherpartsofEurope.OneofthemostfamousItalianbankswastheMediciBank,setupbyGiovannidiBiccide'Mediciin1397.Theearliestknownstatedepositbank,BancodiSanGiorgio(BankofSt.George),wasfoundedin1407atGenoa,Italy.
Modernbankingpractices,includingfractionalreservebankingandtheissueofbanknotes,emergedinthe17thand18thcenturies.MerchantsstartedtostoretheirgoldwiththegoldsmithsofLondon,whopossessedprivatevaults,andchargedafeeforthatservice.Inexchangeforeachdepositofpreciousmetal,thegoldsmithsissuedreceiptscertifyingthequantityandpurityofthemetaltheyheldasabailee;thesereceiptscouldnotbeassigned,onlytheoriginaldepositorcouldcollectthestoredgoods.
ThesealingoftheBankofEnglandCharter(1694).
ThesealingoftheBankofEnglandCharter(1694).
Graduallythegoldsmithsbegantolendthemoneyoutonbehalfofthedepositor,whichledtothedevelopmentofmodernbankingpractices;promissorynotes(whichevolvedintobanknotes)wereissuedformoneydepositedasaloantothegoldsmith.Thegoldsmithpaidinterestonthesedeposits.Sincethepromissorynoteswerepayableondemand,andtheadvances(loans)tothegoldsmith'scustomerswererepayableoveralongertimeperiod,thiswasanearlyformoffractionalreservebanking.Thepromissorynotesdevelopedintoanassignableinstrumentwhichcouldcirculateasasafeandconvenientformofmoneybackedbythegoldsmith'spromisetopay,allowinggoldsmithstoadvanceloanswithlittleriskofdefault.Thus,thegoldsmithsofLondonbecametheforerunnersofbankingbycreatingnewmoneybasedoncredit.
TheBankofEnglandwasthefirsttobeginthepermanentissueofbanknotes,in1695.TheRoyalBankofScotlandestablishedthefirstoverdraftfacilityin1728.Bythebeginningofthe19thcenturyabankers'clearinghousewasestablishedinLondontoallowmultiplebankstocleartransactions.TheRothschildspioneeredinternationalfinanceonalargescale,financingthepurchaseoftheSuezcanalfortheBritishgovernment.
Banksintheeconomy
Economicfunctions
Theeconomicfunctionsofbanksinclude:
Issueofmoney,intheformofbanknotesandcurrentaccountssubjecttochequeorpaymentatthecustomer'sorder.Theseclaimsonbankscanactasmoneybecausetheyarenegotiableorrepayableondemand,andhencevaluedatpar.Theyareeffectivelytransferablebymeredelivery,inthecaseofbanknotes,orbydrawingachequethatthepayeemaybankorcash.
Nettingandsettlementofpayments–banksactasbothcollectionandpayingagentsforcustomers,participatingininterbankclearingandsettlementsystemstocollect,present,bepresentedwith,andpaypaymentinstruments.Thisenablesbankstoeconomizeonreservesheldforsettlementofpayments,sinceinwardandoutwardpaymentsoffseteachother.Italsoenablestheoffsettingofpaymentflowsbetweengeographicalareas,reducingthecostofsettlementbetweenthem.
Creditintermediation–banksborrowandlendback-to-backontheirownaccountasmiddlemen.
Creditqualityimprovement–bankslendmoneytoordinarycommercialandpersonalborrowers(ordinarycreditquality),butarehighqualityborrowers.Theimprovementcomesfromdiversificationofthebank'sassetsandcapitalwhichprovidesabuffertoabsorblosseswithoutdefaultingonitsobligations.However,banknotesanddepositsaregenerallyunsecured;ifthebankgetsintodifficultyandpledgesassetsassecurity,toraisethefundingitneedstocontinuetooperate,thisputsthenoteholdersanddepositorsinaneconomicallysubordinatedposition.
Assetliabilitymismatch/Maturitytransformation–banksborrowmoreondemanddebtandshorttermdebt,butprovidemorelongtermloans.Inotherwords,theyborrowshortandlendlong.Withastrongercreditqualitythanmostotherborrowers,bankscandothisbyaggregatingissues(e.g.acceptingdepositsandissuingbanknotes)andredemptions(e.g.withdrawalsandredemptionofbanknotes),maintainingreservesofcash,investinginmarketablesecuritiesthatcanbereadilyconvertedtocashifneeded,andraisingreplacementfundingasneededfromvarioussources(e.g.wholesalecashmarketsandsecuritiesmarkets).
Moneycreation–wheneverabankgivesoutaloaninafractional-reservebankingsystem,anewsumofvirtualmoneyiscreated.
Bankcrisis
OTPBankinPrešov(Slovakia)
OTPBankinPrešov(Slovakia)
Banksaresusceptibletomanyformsofriskwhichhavetriggeredoccasionalsystemiccrises.Theseincludeliquidityrisk(wheremanydepositorsmayrequestwithdrawalsinexcessofavailablefunds),creditrisk(thechancethatthosewhoowemoneytothebankwillnotrepayit),andinterestraterisk(thepossibilitythatthebankwillbecomeunprofitable,ifrisinginterestratesforceittopayrelativelymoreonitsdepositsthanitreceivesonitsloans).
Bankingcriseshavedevelopedmanytimesthroughouthistory,whenoneormoreriskshaveemergedforabankingsectorasawhole.ProminentexamplesincludethebankrunthatoccurredduringtheGreatDepression,theU.S.SavingsandLoancrisisinthe1980sandearly1990s,theJapanesebankingcrisisduringthe1990s,andthesub-primemortgagecrisisinthe2000s.
Sizeofglobalbankingindustry
Assetsofthelargest1,000banksintheworldgrewby6.8%inthe2008/2009financialyeartoarecordUS$96.4trillionwhileprofitsdeclinedby85%toUS$115billion.Growthinassetsinadversemarketconditionswaslargelyaresultofrecapitalization.EUbanksheldthelargestshareofthetotal,56%in2008/2009,downfrom61%inthepreviousyear.Asianbanks'shareincreasedfrom12%to14%duringtheyear,whiletheshareofUSbanksincreasedfrom11%to13%.FeerevenuegeneratedbyglobalinvestmentbankingtotaledUS$66.3billionin2009,up12%onthepreviousyear.
TheUnitedStateshasthemostbanksintheworldintermsofinstitutions(7,085attheendof2008)andpossiblybranches(82,000).ThisisanindicatorofthegeographyandregulatorystructureoftheUSA,resultinginalargenumberofsmalltomedium-sizedinstitutionsinitsbankingsystem.AsofNov2009,China'stop4bankshaveinexcessof67,000branches(ICBC:
18000+,BOC:
12000+,CCB:
13000+,ABC:
24000+)withanadditional140smallerbankswithanundeterminednumberofbranches.Japanhad129banksand12,000branches.In2004,Germany,France,andItalyeachhadmorethan30,000branches—morethandoublethe15,000branchesintheUK.
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