日本商业银行的私人金融服务业务

1998年6月日本金融改革法正式实施,一个以自由、公平、国际化为目标的金融改革在日本迅速兴起.金融自由化取消了银行、证券、保险业之间的界限,加剧了金融业之间的竞争,对个人金融资产的分布结构产生重大影响.为保持和提高已有的市场份额,日本的商业银行凭借自身的优势,调整对私人金融服务方面的拓展战略,进行跨行业联合,加大投入力度,加快产品创新,引导个人金融资产多元化分布.一场围绕私人金融服务领域的竞争,正在日本金融业以及日本和外资金融机构间进行.本文分析了日本个人金融资产的构成及变化趋向,考察了银行私人金融服务的策略和手段,这对我国银行业具有一定的参考价值.     

WHY BANKS HAVE A FUTURE: TOWARD A NEW THEORY OF COMMERCIAL BANKING

According to some observers, the commercial bank–an institution that conducts the twin activities of accepting deposits payable on demand and originating loans–has outlived its usefulness and is in a state of terminal decline. The broad statistical evidence for this contention, however, is somewhat mixed. While some studies suggest that the role of banks in the United States is declining, others suggest that banks are simply using new vehicles to offer their services and that their role has not diminished at all. This article takes a different approach to analyzing the future of banks by examining the economic rationale for their past existence and exploring the extent to which this rationale can be expected to hold up in the future. The author begins by explaining why the two core banking activities–taking in deposits payable on demand and originating non-marketable loans–are performed by the same institutions. The explanation turns on the recognition that both activities essentially require the institution to come up with cash on short notice–that is, to provide liquidity. Scale economies in providing liquidity explain why both activities are provided by the same entity. Deregulation and innovation have increased competition in the financial services industry, which has forced banks to concentrate on the essentials of liquidity provision. This is why the outward nature of banks' activities has changed (for example, banks today often sell instead of holding loans, and provide back-up lines for commercial paper instead of originating loans), though not their underlying economic rationale (particularly the credit evaluation and monitoring involved in “relationship” banking). Beneath the surface reality of dramatic changes in financial products and services, the fundamental banking business of liquidity provision is alive and well. Moreover, in the course of performing their traditional activities, banks have acquired competencies that enable them to perform a variety of other financial and nonfinancial activities that deregulation and innovation have opened up to them. As part of their evaluation of these nontraditional activities, bankers must ensure that their organizational structures, controls, and compensation policies are appropriate for the new environment of deregulation and technological change.     

DISTRIBUTIONS OF FINANCIAL RATIOS IN THE COMMERCIAL BANKING INDUSTRY

Much research in banking assumes that the data are normally distributed. There has been little empirical confirmation of this assumption. In this paper, the normality assumption is subjected to an extensive test using data for virtually all U.S. commercial banks for several years. The statistical characteristics of 11 common financial ratios are investigated. The findings reject any broad assumption of population normality.     

银行分销渠道与国内商业银行分支机构的调整

分支机构的扩张是商业银行提高市场份额的有效途径之一。我国的商业银行由于受到长期以来计划经济经营模式以及金融市场同业之间无序和恶性竞争的影响,其分支机构在布局设计、规模效益和服务功能等方面还存在着不尽如人意的地方。从设立分支机构的角度来看,形成商业银行分支机构或营业网点的综合竞争力要素应包括功能、布局、员工和设施四个方面,因此提高分支机构或网点的综合竞争能力,必须从这四个方面加以完善。对于分支机构的撤并,微观经济学厂商理论认为应当从“沉没成本”的角度进行财务评价,并且国内目前的现实还要求对银行机构关闭后产生的社会、经济和自身信誉等进行充分的论证。     

商业银行个人金融理财业务的理论与实践

开展个人金融理财业务已成为商业银行新一轮金融竞争的焦点,但在认识和实践上往往存在把个人金融理财业务等同于商业银行零售业务或者仅仅理解为信息咨询类业务的种种误区,影响了其健康发展.本文从业务性质、服务对象、法律关系等多方面对其进行考察,认为个人金融理财业务是一种有特定外延和内涵的金融业务、其服务对象是特定的个人(不仅仅指个体的自然人)、是以咨询与代理为主要内容的综合性中间业务,在此基础上提出的定义对其业务功能作了新的定位.新的定位将有助于发挥个人金融理财业务既是商业银行新的效益增长点,又是其他中间业务和资产负债业务强劲助推器的积极作用.     

CORPORATE CONTROL IN COMMERCIAL BANKS

Unique factors in commercial banks' legal and regulatory environment may influence their mechanisms of corporate control. I investigate this issue in a sample of U.S. bank holding companies (BHCs) by analyzing how many underwent a change in corporate control by hostile takeover, friendly merger, management turnover by the board, or intervention by regulators. I compare the relative importance of these methods with those in nonfinancial firms. 1 relate the use of these methods to BHC board and ownership structure and performance. I find that the most important corporate control mechanism in banks is regulatory intervention, and that the primary market-based corporate control mechanism is action by the board of directors. Overall, however, BHC boards are much less assertive than their counterparts at nonfinancial firms. I examine reasons for this.     

试论商业银行业务与资本市场业务的耦合

耦合原指两个或以上的体系或运动形式之间通过各种相互作用而彼此影响以至联合起来的现象,本文借以表示商业银行通过资本市场进行业务创新.在金融自由化、全球化趋势不可阻挡的大背景下,我国面临金融深化的迫切需要.笔者先简介了国外商业银行业务与资本市场业务耦合的背景与现实,同时说明我国商业银行通过资本市场进行创新的必要性.随后提出耦合的基本思路,包括商业银行自身通过资本市场进行直接融资,在业务对象选择和业务品种开发上密切与资本市场的联系;通过中间业务加强对资本市场的渗透,加大国际化步伐等.最后强调要为商业银行的创新提供必要的政策环境和制度支持.     

CAPITAL ADEQUACY AND THE VALUATION OF LARGE COMMERCIAL BANKING ORGANIZATIONS

Bankers argue that regulatory agencies require excessive capital adequacy. As a consequence, banks cannot achieve optimal capital structure. This study investigates the capital adequacy issue for bank holding companies over the 1974—1983 period, one of the most turbulent periods in recent banking history. During this time, capital is never excessive from the stockholders' viewpoint, and financial markets, on average, perceive capital levels as inadequate. Assuming the public wants no lower capital levels than shareholders, recent regulatory action to require higher capital ratios is a Pareto superior decision.     

银行服务：让消费者更放心

治理银行乱收费问题,需要封堵银行可能从事监管套利的各种通道,实现银行收费的明码标价和透明。商业银行银行卡必须做好消费者权益保护工作,增强服务意识,坚持走创新之路,规范操作严控风险,逐步形成竞争有序．运转规范的银行卡业务市场。