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    Check Out These Pages www.nacha.org Check Out These Pages www.nacha.org Presentation Transcript

    • Check Out These Pages
      • www.nacha.org
      • www.federalreserve. gov
      • www.afponline.org
    • The U.S. Financial Environment Reference: ECM Chapter 3
    • Financial Markets
      • Money Markets & Capital Markets
      • Security Exchanges & Markets
      • Primary Markets & Secondary Markets
    • Financial Institutions
      • Commercial Banks
      • Investment Banks and Brokerage Firm
      • Thrift Institutions
      • Credit Unions
      • Mutual Funds
      • Factors
      • Insurance Companies
      • Consumer Credit Companies
    • Commercial Bank Services
      • Intermediation Services
      • Payment and Collections
      • Guarantor Services
      • Agent or Fiduciary Services
      • Consulting Services
      • Risk Management Services
      • Broker/Dealer Services
    • Intermediation Services
      • Deposit Products
      • Demand Deposit Accounts (DDA)
      • Time Deposit Accounts
      • Other Interest Bearing Accounts
      • Credit Services
      • Short-term Loans
      • Long-term Loans
      • Leasing
      • Mortgages
    • Intermediation Services (continued)
      • Investment Banking
      • Commercial Paper (CP)
      • Loan Sales
      • Private Placement
      • Corporate Bonds and Equity
    • Guarantor Services
      • Letters of Credit
      • Standby L/Cs
      • Credit Enhancement Standby L/Cs
      • L/Cs Confirmations
    • Agent or Fiduciary Services
      • Trustee Services
      • Investment Management
      • Corporate Pension Plans
      • Qualified Employees Benefit Plans
      • Corporate Trustee
      • Transfer and Paying Agent
      • Registrar
      • Custody Services
    • Investment Banking and Brokerage Firms Services
      • Bond and Stock Underwriting
      • CP Dealers and Underwriters
      • Institutional and Retail Brokerage
      • Investment Advisory and Portfolio Management
      • Risk Management
      • Insurance Services
    • Regulatory Environment
      • Federal Level
      • State Level
    • Federal Regulatory Agencies
      • Federal Reserve
      • Federal Deposit Insurance Corporation (FDIC)
      • Office of the Comptroller of the Currency (OCC)
      • Securities and Exchange Commission (SEC)
      • Department of Justice
    • Federal Reserve: Roles
      • Bank supervision
      • Monetary policy
      • Banking services
      • Fiscal Agent
    • Federal Reserve Supervision
      • Member commercial banks
      • Bank holding companies
      • Edge Act banks
      • U.S. banking activities of foreign banks
      • Foreign activities of U.S. member banks
    • Federal Reserve: Monetary Policy
      • Reserve Requirements
      • Discount Window Rate
      • Open Market Operations
    • Federal Reserve: Banking Services
      • Check clearing
      • Wire transfer through Fedwire
      • Automated Clearing House System (ACH)
    • Federal Reserve: Fiscal Agent
      • Banker for the federal government.
      • Accepts payment for federal taxes on behalf of the IRS.
      • Fiscal agent for the Treasury when issuing, redeeming, and transferring ownership of government securities.
    • Federal Reserve: Organization
      • Board of Governors
      • Advisory Committees
      • Federal Open Market Committee (FOMC)
      • Federal District Banks
    • FDIC: Roles
      • Supervisor of state-chartered non-member banks
      • Insurer
      • In charge of bank failure
    • FDIC: Insurance
      • Administers the BAIF and SAIF
      • FDICA of 1991 mandates risk-based deposit insurance premiums
    • SEC: Roles
      • Disclosure regulation for public companies, including quarterly and annual report filings.
      • Registration of securities to be sold to the public.
    • Federal Legislation
      • Federal Reserve Act (1913)
      • Edge Act (1918)
      • McFadden Act (1927)
      • Glass Steagall Act (1933)
      • Electronic Funds Transfer Act (1978)
      • Depository Institutions Deregulation and Monetary Control Act (1980)
    • Financial Legislation
      • Garn-St Germain Depository Institutions Act (1982)
      • Expedited Funds Availability Act (1988)
      • Financial Institutions Reform, Recovery, and Enforcement Act (1989)
      • Federal Deposit Insurance Corporation Improvement Act (1991)
      • Interstate Banking and Branching Efficiency Act (1994)
    • Federal Reserve Act 1913
      • Provided for the formation of FRS and the foundation for the current banking system
      • Gave the Fed supervisory powers over member banks
      • Member banks subjected to reserve requirements (RR)
      • Allowed the Fed to create a payment and collection system through member banks
    • Edge Act 1918
      • Permits domestic banks to invest in corporations that engage in international banking and finance.
      • Edge Act corporations can operate anywhere in the U.S.
      • Edge Act corporations are not subject to state banking laws.
      • Edge Act corporations can’t accept domestic deposits and make domestic loans.
    • McFadden Act 1927
      • Governs geographical expansion for banks.
      • Prohibited branching across state lines unless otherwise allowed by state laws.
      • Gave states jurisdiction over bank. Expansion within and across state lines.
      • Restrictions apply to state and national banks.
    • Glass Steagall Act 1933
      • Established the separation of banking and commerce, including investment banking
      • Prohibited commercial banks from underwriting securities other than government securities
      • Established deposit rate ceilings on deposit account, including a prohibition against payment of interest on DDA
      • Established the FDIC to insure bank deposits up to a stipulated maximum amount
    • Depository Institutions Deregulation and Monetary Control Act (DIDMCA) 1980
      • Imposed RR on all depository institutions regardless of FRS membership status.
      • Extended fed services to all deposit-taking institutions.
      • Mandated the fed to reduce or price payment system float.
    • DIDMCA (Continued)
      • Mandated the pricing of previously free fed services according to standards of a tax-paying vendor.
      • Reduce banking float.
      • Allowed interest on consumer checking accounts.
    • Federal Deposit Insurance Corporation Improvement Act (FDICA)
      • Established higher standards for safety and soundness for financial institutions.
      • Requires early closure of banks and thrifts when net worth falls below 2%.
      • Requires the establishment of risk-based deposit insurance premiums.
    • Interstate Banking and Branching and Efficiency Act 1994
      • Permits BHCs to acquire banks located in any state after September 1995.
      • Allows banks to merge operations with banks in another state so long as states have not opted-out of bill.
      • Allows banks to establish new branches provided state laws expressly permit it.
    • Gramm-Leach-Bliley Act 1999
      • Eliminated barriers among banking, insurance and securities firms.
      • Allowed easier entry by foreign banks.
      • Established Federal Reserve as the primary regulator of banks.
      • Establishment of privacy policies.