商业银行学答案第八版罗斯Chapter12知识Word文件下载.docx

商业银行学答案第八版罗斯Chapter12知识Word文件下载.docx

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∙ConditionalDepositPricing

∙RulesforDepositInsuranceCoverage

∙DisclosureofDepositTerms

∙LifelineBanking

ChapterOutline

I.Introduction:

TheImportanceofDepositsandtheChallengeofManagingDeposits

ofDepositsOfferedbyBanksandOtherDepositoryInstitutions

A.Transaction（PaymentsorDemand）Deposits

1.Noninterest-BearingTransactionDeposits

2.Interest-BearingTransactionDeposits

a.NOWAccounts

b.MoneyMarketDepositAccounts（MMDAs）

c.SuperNOWs

B.Nontransaction（SavingsorThrift）Deposits

1.PassbookSavingsDeposits

2.StatementSavingsDeposits

3.TimeDeposits

C.RetirementSavingsDeposits

1.IndividualRetirementAccounts（IRAs）

2.KeoghPlans

3.RothIRAs

III.InterestRatesOfferedonDifferentTypesofDeposits

A.TheCompositionofDeposits

1.TrendtowardInterest-BearingandNontransactionDeposits

2.TheImportanceofCoreDeposits

3.ChangesintheRelativeImportanceofOtherTypesofDeposits

B.TheOwnershipofDeposits

C.CostofDifferentDepositAccounts

IV.PricingDeposit-RelatedServices

V.PricingDepositsatCostPlusProfitMargin

A.EstimatingDepositServiceCosts

B.AnExampleofPooledFundsCosting

VI.UsingMarginalCosttoSetInterestRatesonDeposits

A.ConditionalPricing

VII.PricingBasedontheTotalCustomerRelationshipandChoosingaDepository

A.TheRoleThatPricingandOtherFactorsPlayWhenCustomersChooseaDepository

InstitutiontoHoldTheirAccounts

VIII.Basic（Lifeline）Banking:

KeyServicesforLow-IncomeCustomers

IX.SummaryoftheChapter

ConceptChecks

12-1.Whatarethemajortypesofdepositplansthatdepositoryinstitutionsoffertoday?

Depositplanscanbedividedbroadlyintotransactiondeposits,thriftornontransactiondeposits,andhybriddeposits.TheprimaryfunctionoftransactiondepositsistomakepaymentsandthesedepositsincluderegularcheckingaccountsandNOWaccounts.Theprincipalfunctionofthriftdepositsistoserveasaccumulatedsavingsandincludepassbookandstatementsavingsaccounts,CDs,andothertimedepositaccounts.Hybriddepositscombinetransactionsandthriftfeaturesandincludemoney-marketdepositaccountsandSuperNOWs.

12-2.Whatarecoredeposits,andwhyaretheysoimportanttoday?

Coredepositsarethemoststablecomponentsofadepositaryinstitution’sfundingbaseandusuallyincludesmaller-denominationsavingsandthird-partypaymentsaccounts.Theyarecharacterizedbyrelativelylowinterest-rateelasticity.Holdingasubstantialproportionofcoredepositshasanadvantageinhavingaccesstoastableandcheapersourceoffundingwithrelativelylowinterest-raterisk.

12-3.Howhasthecompositionofdepositschangedinrecentyears?

Therehasbeenashiftinthepublic’sholdingsofdepositstowardgreaterrelativeproportionsofthehighest-yieldingtimedepositsandtowardhybridaccountsthatmaximizedepositorreturns,whilestillgivingthemaccesstodepositedfundstomakepayments.

12-4.Whataretheconsequencesforthemanagementandperformanceofdepositoryinstitutionsresultingfromrecentchangesindepositcomposition?

Whiledepositoryinstitutionswouldprefertosellonlythecheapestdepositstothepublic,itispredominatelypublicpreferencethatdetermineswhichtypesofdepositswillbecreated.Institutionsthatdonotwishtoconformtocustomerpreferenceswillsimplybeoutbidfordepositsbythosewhodo.Managerswhofailtostayabreastofchangesintheircompetitors’depositpricingandmarketingprogramsstandtolosebothcustomersandprofits.

12-5.Whichdepositsaretheleastcostlyfordepositoryinstitutions?

Themostcostly?

Commercialcheckabledeposits,particularlyregularnoninterestbearingdemanddeposits,areusuallytheleastcostly.Themostcostlydepositsarepassbooksavingsaccountshavingsubstantialdepositandwithdrawalactivityandhigherinterest-ratetimedeposits.

12-6.Describetheessentialdifferencesbetweenthefollowingdepositpricingmethodsinusetoday:

cost-pluspricing,conditionalpricing,andrelationshippricing.

Cost-plusdepositpricingencouragesbankstodeterminewhatcoststheyareincurringinlaborandmanagementtime,materials,etc.,inofferingeachdepositservice.Cost-pluspricinggenerallycallsforabanktochargedepositservicefeesadequatetocoverallthecostsofofferingtheserviceplusasmallmarginforprofit.Conditionalpricingisusedtodayasatoolbybankstoattractthekindsofdepositorstheywanttohaveascustomers.Withthispricingtechniqueabankwillpostascheduleofofferedinterestratesorfeesassessedfordepositsofvaryingsizesandbasedonaccountactivity.Generallylargervolumedepositscarryhigherinterestreturnstothedepositororareassessedlowerservicecharges,encouragingcustomerstoholdahighaveragedepositbalancewhichgivesthebankmorefundstoinvestinearningassets.Finally,relationshippricinginvolvesbasingfeeschargedacustomeronthenumberofservicesandtheintensityofuseofservicesthecustomerpurchasesfromabank.

12-7.Abankdeterminesfromananalysisofitscost-accountingfiguresthatforeach$500minimum-balancecheckingaccountitsellsaccountprocessingandotheroperatingcostswillaverage$permonthandoverheadexpenseswillrunanaverageof$permonth.Thebankhopestoachieveaprofitmarginovertheseparticularcostsof10percentoftotalmonthlycosts.Whatmonthlyfeeshoulditchargeacustomerwhoopensoneofthesecheckingaccounts?

Therelevantformulais:

UnitPrice

Operating

Overhead

Planned

Charged

=Expense

+Expense

+ProfitMargin

perMonth

PerUnit

Inthiscase:

UnitPriceChargedPerMonth=$+$+x（$+$=$

12-8.Topricedepositssuccessfully,serviceprovidersmustknowtheircosts.Howarethesecostsdeterminedusingthehistoricalaveragecostapproach?

Themarginalcostoffundsapproach?

Whataretheadvantagesanddisadvantagesofeachapproach?

Thehistoricalaveragecostapproachlooksatthepast.Itasksthefollowingquestion:

Whatfundshasthebankraisedtodateandwhatdidtheycost?

Themarginalcostdeposit-pricingmethodfocusesupontheweightedaveragecostofnewfundsraisedfromallofthedifferentsourcesoffundsthebankdrawsuponorplanstodrawuponinthecurrentperiod.

Marginalcostispreferredoverhistoricalaveragecostasfrequentchangesininterestrateswillmakehistoricalaveragecostatreacherousstandardforpricing.

12-9.Howcanthehistoricalaveragecostandmarginalcostoffundsapproachesbeusedtohelpselectassets（suchasloans）thatadepositoryinstitutionmightwishtoacquire?

Thehistoricalaveragecostrateiscalledbreak-evenbecausetheinstitutionmustearnatleastthisrateonitsearningassets（primarilyloansandsecurities）justtomeetthetotaloperatingcostsofraisingborrowedfundsandthestockholders'

requiredrateofreturn.Therefore,theinstitutionwillknowthelowestrateofreturnthatitcanaffordtoearnonassetsitmightwishtoacquire.Themarginalcostoffundsapproachcanbeusedasaguidetoselectloansandotherassetsbecausetheinstitutioninterestedinprofitmaximizingwouldwanttobesuretocoveritsfund-raisingcosts.

12-10.Whatfactorsdohouseholddepositorsrankmosthighlyinchoosingafinancialfirmfortheircheckingaccount?

Theirsavingsaccount?

Whataboutbusinessfirms?

Studiescitedinthischapterindicatethathouseholds（individualsandfamilies）appeartoconsider,inrankorder,thefollowingfactorsinchoosinganinstitutiontoholdtheircheckingaccount:

convenientlocation,availabilityofotherservices,safety,lowfeesandlowminimumbalances,andhighdepositinterestrates.Inselectinganinstitutiontoholdtheirsavingsaccounthouseholdsappeartoconsider,inrankorder:

familiarity,interestratepaid,transactionalconvenience,location,availabilityofpayrolldeduction,andanyfeescharged.Businessfirms,ontheotherhand,seemtoconsidersuchfactorsasthefinancialhealthofthelendinginstitution,whethertheinstitutionwillbeareliablesourceofcreditinthefuture,thequalityofmanagers,whetherloansarecompetitivelypriced,thequalityoffinancialadvicegiven,andwhethercashmanagementandoperationsservicesareprovided.

12-11.Whatdoesthe1991TruthinSavingsActrequirefinancialfirmssellingdepositsinsidetheUnitedStatestotelltheircustomers?

TheTruthinSavingsActrequiresfinancialfirmstofullyinformtheirdepositcustomersonthetermsofferedtoeachdepositor.Thecustomermustbetoldwhenanewaccountisopenedorifadepositisrenewed,whatannualpercentageyield（APY）isbeingofferedandwhatminimumbalanceisrequiredtoreceivethatyield.Moreover,thedepositormustbeinformedaboutanypenaltiesorservicefeeswhichcouldreducehisorherexpectedyield.Ifthetermsofadepositarechangedinawaythatwouldreducethedepositor'

sreturnadvancenoticemustbegiventotheaccountholder.

12-12.Us