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Check Out These Pages www.nacha.org

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Transcript

  • 1. Check Out These Pages
    • www.nacha.org
    • www.federalreserve. gov
    • www.afponline.org
  • 2. The U.S. Financial Environment Reference: ECM Chapter 3
  • 3. Financial Markets
    • Money Markets & Capital Markets
    • Security Exchanges & Markets
    • Primary Markets & Secondary Markets
  • 4. Financial Institutions
    • Commercial Banks
    • Investment Banks and Brokerage Firm
    • Thrift Institutions
    • Credit Unions
    • Mutual Funds
    • Factors
    • Insurance Companies
    • Consumer Credit Companies
  • 5. Commercial Bank Services
    • Intermediation Services
    • Payment and Collections
    • Guarantor Services
    • Agent or Fiduciary Services
    • Consulting Services
    • Risk Management Services
    • Broker/Dealer Services
  • 6. 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
  • 7. Intermediation Services (continued)
    • Investment Banking
    • Commercial Paper (CP)
    • Loan Sales
    • Private Placement
    • Corporate Bonds and Equity
  • 8. Guarantor Services
    • Letters of Credit
    • Standby L/Cs
    • Credit Enhancement Standby L/Cs
    • L/Cs Confirmations
  • 9. Agent or Fiduciary Services
    • Trustee Services
    • Investment Management
    • Corporate Pension Plans
    • Qualified Employees Benefit Plans
    • Corporate Trustee
    • Transfer and Paying Agent
    • Registrar
    • Custody Services
  • 10. 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
  • 11. Regulatory Environment
    • Federal Level
    • State Level
  • 12. 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
  • 13. Federal Reserve: Roles
    • Bank supervision
    • Monetary policy
    • Banking services
    • Fiscal Agent
  • 14. 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
  • 15. Federal Reserve: Monetary Policy
    • Reserve Requirements
    • Discount Window Rate
    • Open Market Operations
  • 16. Federal Reserve: Banking Services
    • Check clearing
    • Wire transfer through Fedwire
    • Automated Clearing House System (ACH)
  • 17. 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.
  • 18. Federal Reserve: Organization
    • Board of Governors
    • Advisory Committees
    • Federal Open Market Committee (FOMC)
    • Federal District Banks
  • 19. FDIC: Roles
    • Supervisor of state-chartered non-member banks
    • Insurer
    • In charge of bank failure
  • 20. FDIC: Insurance
    • Administers the BAIF and SAIF
    • FDICA of 1991 mandates risk-based deposit insurance premiums
  • 21. SEC: Roles
    • Disclosure regulation for public companies, including quarterly and annual report filings.
    • Registration of securities to be sold to the public.
  • 22. 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)
  • 23. 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)
  • 24. 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
  • 25. 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.
  • 26. 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.
  • 27. 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
  • 28. 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.
  • 29. 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.
  • 30. 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.
  • 31. 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.
  • 32. 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.