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Modern Banking
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The term ‘‘banking’’ can be applied to a large range of financial institutions, from savings and loans organisations to the large money-centre commercial banks in the USA, or from the smallest mutually owned building society to the ‘‘big four’’ shareholder owned banks in the UK. Many European countries have large regional/cooperative banks in addition to three to five universal banks. In Japan, the bank with the largest retail network is Sumitomo Mitsui Banking Corporation,2 but its main rival for savings deposits is the Post Office.
The objective of this chapter is to provide an overview of banking and the role played by banks in an increasingly complex financial world. It begins with a review of the meaning of banking, identifying the features of banks that distinguish them from other financial institutions. The most common forms of organisational structure for banks in the developed world are reviewed in section 1.3. Section 1.4 considers the relationship between the central banks and commercial banks, including key debates on the functions and independence of a central bank. The chapter ends with a brief summary of the major theoretical contributions to the banking literature, followed by conclusions.
Shelagh Heffernan - Personal Name
1st Edtion
0-470-09500-8
NONE
Modern Banking
Management
English
John Wiley & Sons Ltd,
2005
USA
1-739
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