商业银行管理Bank ManagmentFinancial Services7th第12章课后题答案.docx
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商业银行管理Bank ManagmentFinancial Services7th第12章课后题答案.docx
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商业银行管理BankManagmentFinancialServices7th第12章课后题答案
CHAPTER12
MANAGINGANDPRICINGDEPOSITSERVICES
GoalofThisChapter:
Thischapterhasmultiplegoals.Oneofthemostimportantistolearnaboutthedifferenttypesofdepositsfinancialinstitutionsofferand,fromtheperspectiveofamanager,todiscoverwhichtypesofdepositsareamongthemostprofitabletooffertheircustomers.Wealsowanttoexplorehowaninstitution’scostoffundingcanbedeterminedandexaminethedifferentmethodsopentoinstitutionstopricethedepositsanddeposit-relatedservicestheyselltothepublic.
KeyTopicsinThisChapter
∙TypesofDepositAccountsOffered
∙TheChangingMixofDepositsandDepositCosts
∙PricingDepositServicesandDepositInterestRates
∙ConditionalDepositPricing
∙RulesforDepositInsuranceCoverage
∙DisclosureofDepositTerms
∙LifelineBanking
ChapterOutline
I.Introduction:
TheImportanceofDepositsandtheChallengeofManagingDeposits
II.TypesofDepositsOfferedbyBanksandOtherDepositoryInstitutions
A.Transaction(Payments)Deposits
1.Noninterest-BearingDemandDeposits
2.Interest-BearingDemandDeposits
a.NOWAccounts
b.MoneyMarketDepositAccounts(MMDAs)
c.SuperNOWs
B.Nontransaction(SavingsorThrift)Deposits
1.PassbookSavingsDeposits
2.StatementSavingsDeposits
3.TimeDeposits
4.IndividualRetirementAccounts(IRAs)
5.KeoghPlans
6.RothIRAs
Ill.InterestRatesOfferedonDifferentTypesofDeposits
A.TheCompositionofBankDeposits
1.TrendTowardInterest-BearingandNontransactionDeposits
2.TheImportanceofCoreDeposits
3.ChangesintheRelativeImportanceofOtherTypesofDeposits
B.CostofDifferentDepositAccunts
IV.PricingDeposit-RelatedServices
V.PricingDepositsatCostPlusProfitMargin
A.EstimatingDepositServiceCosts
B.AnExampleofPooledFundsCosting
VI.UsingMarginalCosttoSetInterestRatesonDeposits
A.ConditionalPricing
VII.PricingDepositsBasedontheTotalCustomerRelationship
A.TheRoleThatPricingandOtherFactorsPlayWhenCustomersChooseaDepositoryInstitutiontoHoldTheirAccounts
VIII.Basic(Lifeline)Banking:
KeyServicesforLow-IncomeCustomers
IX.SummaryoftheChapter
ConceptChecks
12-1.Whatarethemajortypesofdepositplansdepositoryinstitutionsoffertoday?
Depositplanscanbedividedbroadlyintotransactiondeposits,thriftornontransactiondeposits,andhybriddeposits.TheprimaryfunctionoftransactiondepositsistomakepaymentsandthesedepositsincluderegularcheckingaccountsandNOWaccounts.Theprincipalfunctionofthriftdepositsistoserveasaccumulatedsavingsandincludepassbookandstatementsavingsaccounts,CDs,andothertimedepositaccounts.Hybriddepositscombinetransactionsandthriftfeaturesandincludemoney-marketdepositaccountsandSuperNOWs.
12-2.Whatarecoredepositsandwhyaretheysoimportanttoday?
Coredepositsarethemoststablecomponentsofadepositaryinstitution’sfundingbaseandusuallyincludesmaller-denominationsavingsandthird-partypaymentsaccounts.Theyarecharacterizedbyrelativelylowinterest-rateelasticity.Holdingasubstantialproportionofcoredepositshasanadvantageinhavingaccesstoastableandcheapersourceoffundingwithrelativelylowinterest-raterisk.
12-3.Howhasthecompositionofdepositschangedinrecentyears?
Therehasbeenashiftinthepublic’sholdingsofdepositstowardgreaterrelativeproportionsofthehighest-yieldingtimedepositsandtowardhybridaccountsthatmaximizedepositorreturns,whilestillgivingthemaccesstodepositedfundstomakepayments.
12-4.Whataretheconsequencesforthemanagementandperformanceresultingfromrecentchangesindepositcomposition?
Whiledepositoryinstitutionswouldprefertosellonlythecheapestdepositstothepublic,itispredominatelypublicpreferencethatdetermineswhichtypesofdepositswillbecreated.Institutionsthatdonotwishtoconformtocustomerpreferenceswillsimplybeoutbidfordepositsbythosewhodo.Managerswhofailtostayabreastofchangesintheircompetitors’depositpricingandmarketingprogramsstandtolosebothcustomersandprofits.
12-5.Whichdepositsaretheleastcostlyfordepositoryinstitutions?
Themostcostly?
Commercialcheckabledeposits,particularlyregularnoninterestbearingdemanddeposits,areusuallytheleastcostly.Themostcostlydepositsarepassbooksavingsaccountshavingsubstantialdepositandwithdrawalactivityandhigherinterest-ratetimedeposits.
12-6.FirstStateBankofPineisconsideringachangeofmarketingstrategyinanefforttoloweritscostoffundingandmaximizeprofitability.Thenewstrategycallsforaggressiveadvertisingofnewcommercialcheckingaccountsandinterest-bearinghouseholdcheckabledepositsandde-emphasizesregularandspecialcheckingaccounts.Whatarethepossibleadvantagesandpossibleweaknessesofthisnewmarketingstrategy?
Thecostdatapresentedinthetextsuggestthatcertainkindsofcheckabledepositsareoftenamongtheleast-costdepositsabankcansell(especiallybecauseoflowornonexistentinterestratespaid)soFirstStateBankmaybeabletoachievesomeofitsprofitandcostgoalswiththeproposednewstrategy.Moreover,adjustedforrevenuesgeneratedthroughtheuseofdepositedfunds,interest-bearingcheckingaccountsappeartobemoreprofitablethanregular(noninterest-bearing)accountsandcommercialcheckingservicesmoreprofitablethanretail(personal)checkingservices.However,thedepositservicesthatFirstStateBankwantstopursuemoreaggressivelytendtobemoreinterest-sensitiveandlessloyaltoabankand,thusFirstStateBankmaybeaddingtoitsliquidityproblemwiththenewstrategy.
12-7.Describetheessentialdifferencesbetweenthefollowingdepositpricingmethodsinusetoday:
cost-pluspricing,conditionalpricing,andrelationshippricing?
Cost-plusdepositpricingencouragesbankstodeterminewhatcoststheyareincurringinlaborandmanagementtime,materials,etc.,inofferingeachdepositservice.Cost-pluspricinggenerallycallsforabanktochargedepositservicefeesadequatetocoverallthecostsofofferingtheserviceplusasmallmarginforprofit.Conditionalpricingisusedtodayasatoolbybankstoattractthekindsofdepositorstheywanttohaveascustomers.Withthispricingtechniqueabankwillpostascheduleofofferedinterestratesorfeesassessedfordepositsofvaryingsizesandbasedonaccountactivity.Generallylargervolumedepositscarryhigherinterestreturnstothedepositororareassessedlowerservicecharges,encouragingcustomerstoholdahighaveragedepositbalancewhichgivesthebankmorefundstoinvestinearningassets.Finally,relationshippricinginvolvesbasingfeeschargedacustomeronthenumberofservicesandtheintensityofuseofservicesthecustomerpurchasesfromabank.
12-8.Abankdeterminesfromananalysisofitscost-accountingfiguresthatforeach$500minimum-balancecheckingaccountitsellsaccountprocessingandotheroperatingcostswillaverage$4.87permonthandoverheadexpenseswillrunanaverageof$1.21permonth.Thebankhopestoachieveaprofitmarginovertheseparticularcostsof10percentoftotalmonthlycosts.Whatmonthlyfeeshouldthebankchargeacustomerwhoopensoneofthesecheckingaccounts?
Therelevantformulais:
UnitPrice
Operating
Overhead
Planned
Charged
=Expense
+Expense
+ProfitMargin
perMonth
PerUnit
PerUnit
PerUnit
Inthiscase:
UnitPriceChargedPerMonth=$4.87+$1.21+0.10x($4.87+$1.21)=$6.69
12-9.Topricedepositssuccessfully,serviceprovidersmustknowtheircosts.Howarethesecostsdeterminedusingthehistoricalaveragecostapproach?
Themarginalcostoffundsapproach?
Whataretheadvantagesanddisadvantagesofeachapproach?
Thehistoricalaveragecostapproachlooksatthepast.Itasksthefollowingquestion:
whatfundshasthebankraisedtodateandwhatdidtheycost?
Themarginalcostdeposit-pricingmethodfocusesupontheweightedaveragecostofnewfundsraisedfromallofthedifferentsourcesoffundsthebankdrawsuponorplanstodrawuponinthecurrentperiod.
12-10.Howcanthehistoricalaveragecostandmarginalcostoffundsapproachesbeusedtohelpselectassets(suchasloans)thatadepositoryinstitutionmightwishtoacquire?
Thehistoricalaveragecostrateiscalledbreak-evenbecausetheinstitutionmustearnatleastthisrateonitsearningassets(primarilyloansandsecurities)justtomeetthetotaloperatingcostsofraisingborrowedfundsandthestockholders'requiredrateofreturn.Therefore,theinstitutionwillknowthelowestrateofreturnthatitcanaffordtoearnonassetsitmightwishtoacquire.Themarginalcostoffundsapproachcanbeusedasaguidetoselectloansandotherassetsbecausetheinstitutioninterestedinprofitmaximizingwouldwanttobesuretocoveritsfund-raisingcosts.
12-11.Whatfactorsdohouseholddepositorsrankmosthighlyinchoosingafinancialfirmfortheircheckingaccount?
Theirsavingsaccount?
Whataboutbusinessfirms?
Studiescitedinthischapterindicatethathouseholds(individualsandfamilies)appeartoconsider,inrankorder,thefollowingfactorsinchoosinganinstitutiontoholdtheircheckingaccount:
convenientlocation,availabilityofotherservices,safety,lowfeesandlowminimumbalances,andhighdepositinterestrates.Inselectinganinstitutiontoholdtheirsavingsaccounthouseholdsappeartoconsider,inrankorder:
familiarity,interestratepaid,transactionalconvenience,location,availabilityofpayrolldeduction,andanyfeescharged.Businessfirms,ontheotherha
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