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

By Charles R. Geisst (auth.)

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

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Reading the signals given off by the changes in the discount rate is not simple since they tend to be based upon historical information already taken account of in the marketplace. A lowering of the discount rate would suggest that the Fed is happy to see rates fall even further. An unchanged stance following the same sort of money market conditions would suggest that the rate is as low as the Fed would like to see it go for the time being. A direct parallel to the American discount rate is not found in Britain.

Sometimes this international lending was done from finance subsidiaries of banks in Europe rather than from the parent or branches directly. But regardless of origin, the eurobanking system became the favourite source of funds for many international borrowers. Loans in general are usually made by a sole bank to its customer unless the amount involved is quite large and would prove burdensome or violate a bank's individual limits to a single borrower. When this occurs, the large amount may be syndicated, or underwritten, among a number of ban,ks, limiting the amount of exposure incurred by anyone institution.

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.

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