首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Credit and credibility In pursuit of a new source of profit, many of the entities that call themselves banks have strayed fa
Credit and credibility In pursuit of a new source of profit, many of the entities that call themselves banks have strayed fa
admin
2011-01-26
83
问题
Credit and credibility
In pursuit of a new source of profit, many of the entities that call themselves banks have strayed far from the business of taking and safeguarding the public’s deposits and running the payment system. Competition has forced banks to range so far, in so many directions and at such a lick that, perhaps for the first time since the days of Shylock, it is necessary to stop to ask quite what is a bank.
The gales of change will leave many banks looking different in form and substance from a decade ago. Banking is traditionally thought of as one business, not least of all by bankers. Yet, as Mr. Thomas Steiner of Mckinsey, a management consultancy, points out, it comprises around 150 different lines of business. There is little that is special about many of them. In future, plenty of these activities will be done by others, either instead of or as well as by banks. On the other side of the coin, many of the things that other financial institutions now do will be- come the business of some banks. Banking will still be a principality in the kingdom of financial services, but its heartland will shrink. Outsiders will move in. Much of the native population will settle elsewhere. The bankers’ diaspora will be wide.
Crossing the divides
This change is already seen in America, Europe and Japan. American and Japanese commercial banks are pushing their merchant banking as deeply into the securities business as they feel the regulators will let them get away with. Citicorp and J. P. Morgan have all been al- lowed to set up securities - underwriting affiliates slipping through the Section 20 loophole of the legislation separating commercial and investment banking. The two businesses have become so interwoven that, as Mr. Dennis Weatherstone, president of J. P. Morgan, says, we really have to rip the fabric to separate the threads.
For their part, investment banks and securities houses have become direct suppliers of credit to wide range of financial and non - financial customers. They offer investment products that are virtual substitutes for interest - earning demand deposits. They own and operate non - bank banks that give access to payment systems. In short, they have become providers of services that commercial banks have traditionally offered. Though forbidden from commercial banking in their home market, American and Japanese investment banks and securities houses happily run such banking affiliates abroad.
It is not only the boundaries between the banking and securities industries that are becoming blurred. So are those with insurance and commerce. Bankers are becoming everyday occurrences. Japan’s Nippon Life joined the act in February by taking a 4% stake in Spain’s Banco Bilbao Vizcaya for 250m. At home, Japanese insurers already have affiliations with banks, through the web of cross - shareholdings of the big industrial groups. America’s third biggest re- tail stock broking firm, Pru - Bache, has dipped in the waters of banking by buying a small bank in Georgia and more recently a thrift. Everywhere ordinary commercial firms are making deep insurance into financial services. Retailers and manufacturers own securities companies, insurance firms’ thrifts and non - bank banks. They offer a wide range of credit, investment - banking and insurance services, to companies and individuals alike.
Which of the following statements is False according to the text?
选项
A、Competition is gradually forcing banks to question their identity.
B、Most of the different activities done by banks could be done by other types of institution.
C、Regulations in America and Japan are preventing commercial banks from getting into the securities business.
D、Separating the commercial and investment banking activities of some American banks would be very difficult.
答案
B
解析
转载请注明原文地址:https://kaotiyun.com/show/ljYd777K
0
初级(银行综合类)
原金融专业英语(FECT)
金融英语(FECT)
相关试题推荐
GeneralPershingwasafamousAmerican.HewasintheAmericanarmy,andfoughtinEuropeintheFirstWorldWar.Afterhed
[A]bridge[B]supermarket[C]radio[D]map[E]book[F]letter[G]busPeoplelistentoittoenjoythemselves.
MrsSmithboughtthatcarasabirthday______forherdaughter.
Abusinessmanboughtsomegoodsatamarketinthemorningandsetoutatonceforhomewithallhisbags,forhewishedtobei
NarberthLibraryoffersyoupleasurereadingandagreatnumberofinformationservices.TheLibrarywasbuiltin1921byamemb
Undertruelease,thecompanyorthebankwillholdthetitletothefacilities,receivetaxcreditifthereisany,sellfacili
ApplyingforamortgageSusanThomasandherhusbandAlanhavedecidedtobuyahouse.Theyhaveseenonethattheylikeand
Therearethreewaysinwhichabankermaytakesecurityforanadvance:(1)lien(2)bypledge(3)bymortgage(4)byindemnity
CommercialbanksinChinatodayhavebroadenedtheirscopeofbusinesstoincludedeposittaking,internationalsettlement,fina
Describethebuyercreditprocedureofprovidingloantoimporter’sbankon-lendingtotheimporter,intheorderofthenumbers
随机试题
资料一滴滴出行创立于2012年6月,经过多年的发展,已经超过优步成为全球最大的一站式移动出行平台,涵盖出租车、专车、快车、顺风车、代驾及大巴等多项业务,打通出行O2O闭环。滴滴出行作为出行行业的领军型企业,自2012年12月单日订单量超
在Word中,利用模板可以快速建立具有相同结构的文件。
下述可促进胃排空的因素是
我国《招标投标法》规定,中标人的投标,应()。
关于职业劳动,正确的说法是()。
以下属于工资集体协商内容的有()。
以下哪项不属于学校及其他教育机构应当履行的义务?()
下列选项中,不可以作为遗产的是()。
CluessuggestingthatQuasimodo,thetragicheroofVictorHugo’snovelTheHunchbackofNotreDame,isbasedonahistorical
四合院(Siheyuan)是从明代的北京延续下来的古典(classical)建筑风格的住宅。四合院之间的狭窄的街道被称为“胡同”(Hutong)。一个四合院有园林包围(surround)着的四个房子,有高高的围墙保护。四合院与胡同都是人们常见到的,有700
最新回复
(
0
)