ust banking & fi - session no 2

8/14/2019 UST Banking & FI - Session No 2

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Federal Reserve SystemFederal Reserve System

Established in 1913.Established in 1913. 12 Federal Reserve Banks (each w/12 Federal Reserve Banks (each w/

9 directors 3 are appointed by the9 directors 3 are appointed by the

Board of Governors; the other 6 areBoard of Governors; the other 6 areelected by the 3,000 memberelected by the 3,000 membercommercial banks)commercial banks)

Board of Governors of the FederalBoard of Governors of the FederalReserve System (7 membersReserve System (7 membersappointed by the US president andappointed by the US president andconfirmed by the US Senate)confirmed by the US Senate)


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Federal Reserve SystemFederal Reserve System

Federal Open Market CommitteeFederal Open Market Committee

(FOMC) (7 board members and(FOMC) (7 board members and

presidents of NY Fed & 4 otherpresidents of NY Fed & 4 other

Feds)Feds) Federal Advisory Council (12Federal Advisory Council (12

members)members)


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Functions of the FederalFunctions of the Federal

Reserve BankReserve Bank

Clear checksClear checks

Issue new currencyIssue new currency

Withdraw damaged currency fromWithdraw damaged currency from

circulationcirculation

Administer and make discountAdminister and make discount

loans to banks in their districts.loans to banks in their districts.

Evaluate proposed bank mergersEvaluate proposed bank mergers

and applications to expand bankand applications to expand bank

activitiesactivities


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Reserve BankReserve Bank

Act as liaisons between theAct as liaisons between thebusiness community and thebusiness community and the

Federal reserve SystemFederal reserve System

Examine banksExamine banks Collect data on local businessCollect data on local business

conditionsconditions

Research on conduct of monetaryResearch on conduct of monetary

policypolicy


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Reserve SystemReserve System

Sets within limits reserveSets within limits reserverequirements of banksrequirements of banks

Sets, reviews the discount rateSets, reviews the discount rate

Directs open market operationsDirects open market operations

Lender of last resortLender of last resort


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Bank of CanadaBank of Canada

Central bank of CanadaCentral bank of Canada

Established in 1934.Established in 1934.

Directors are appointed by theDirectors are appointed by the

govt to 3 year terms.govt to 3 year terms.

The governor has a 7 year term.The governor has a 7 year term.

A governing council, similar to theA governing council, similar to theFOMC, composed of the governorFOMC, composed of the governor

and 4 directors conducts monetaryand 4 directors conducts monetary

policy.policy.


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Bank of EnglandBank of England

Founded in 1694.Founded in 1694. Not very independent until 1997.Not very independent until 1997. It can set interest rates which residesIt can set interest rates which resides

in the Monetary policy Committee,in the Monetary policy Committee,but can be overruled by the govtbut can be overruled by the govtthru the Chancellor of the Exchequer.thru the Chancellor of the Exchequer.

The Committee is composed of theThe Committee is composed of thegovernor, 2 deputy governors, 2governor, 2 deputy governors, 2members appointed by the governor,members appointed by the governor,and 4 outside economic experts.and 4 outside economic experts.


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Bank of Japan (NipponBank of Japan (Nippon

Ginko)Ginko) Founded in 1882.Founded in 1882. Monetary policy is conducted by theMonetary policy is conducted by the

Policy Board.Policy Board.

The board is composed of theThe board is composed of the

governor, 2 vice governors, 6governor, 2 vice governors, 6

outside members, appointed by theoutside members, appointed by the

cabinet and approved by the Diet.cabinet and approved by the Diet.


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Bank of Japan (NipponBank of Japan (Nippon

Ginko)Ginko)They all serve 5 year terms.They all serve 5 year terms. It has official reserves of US$ 913.6It has official reserves of US$ 913.6

billion as of June 2007.billion as of June 2007.


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European Central BankEuropean Central Bank

(ECB)(ECB) It has an executive boardIt has an executive board

composed of a president, a vicecomposed of a president, a vice

president, and 4 other members.president, and 4 other members.

They all have 8 year terms.They all have 8 year terms.


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Bangko Sentral ng PilipinasBangko Sentral ng Pilipinas

Founded in July 3, 1993.Founded in July 3, 1993.Took over the old Central bank ofTook over the old Central bank of

the Philippines which was foundedthe Philippines which was founded

in 1949.in 1949. Monetary policy is conducted by theMonetary policy is conducted by the

Monetary.Monetary.

The Board is composed of 7The Board is composed of 7members appointed by themembers appointed by the

President of the PhilippinesPresident of the Philippines


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Bangko Sentral ng PilipinasBangko Sentral ng Pilipinas

Each board member serve a 6 yearEach board member serve a 6 yearterm.term.

One of the member must be aOne of the member must be a

member of the Cabinet designatedmember of the Cabinet designatedby the President.by the President.

The Governor is appointed by theThe Governor is appointed by the

President to a 6 year term.President to a 6 year term.The Governor is the CEO of the BSP.The Governor is the CEO of the BSP.


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3 Operating Sectors of the3 Operating Sectors of the

BSPBSP Banking Services Sector serves theBanking Services Sector serves the

banking needs of all banks likebanking needs of all banks like

accepting deposits, servicingaccepting deposits, servicing

withdrawals, and extending creditwithdrawals, and extending creditthru the rediscounting facility.thru the rediscounting facility.

Supervision and Examination SectorSupervision and Examination Sector

enforces and monitors compliance enforces and monitors complianceto banking laws.to banking laws.


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3 Operating Sectors of the3 Operating Sectors of the

BSPBSP Resource Management Sector Resource Management Sector

serves the HR, financial andserves the HR, financial and

physical resource needs of the BSP.physical resource needs of the BSP.

All 3 sectors are headed by aAll 3 sectors are headed by adeputy governor.deputy governor.

It has official reserves of US$ 17It has official reserves of US$ 17

billion as of US$ 17.7 billion as ofbillion as of US$ 17.7 billion as ofJune 2005.June 2005.


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Monetary Authority ofMonetary Authority of

Singapore (MAS)Singapore (MAS)

Founded on January 1, 1971.Founded on January 1, 1971. Policy is conducted by its Board ofPolicy is conducted by its Board of

Directors.Directors.

There are 8 members to the boardThere are 8 members to the board

headed by a Chairman who isheaded by a Chairman who is

appointed by the President ofappointed by the President of

Singapore.Singapore.


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Monetary Authority ofMonetary Authority of

Singapore (MAS)Singapore (MAS)

The other members are the DeputyThe other members are the DeputyChairman and 6 other appointedChairman and 6 other appointed

members including its Managingmembers including its Managing

Director who acts as its COO.Director who acts as its COO. It has representative offices in NewIt has representative offices in New

York and London.York and London.

Its August 2005 reserves stands atIts August 2005 reserves stands atUS$ 196.7 billion.US$ 196.7 billion.


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Bank Negara MalaysiaBank Negara Malaysia

Founded in 1959.Founded in 1959.The policy making body is its BoardThe policy making body is its Board

of Directors.of Directors.

Its composed of a Governor and 2Its composed of a Governor and 2

Deputy Governors,, a SecretaryDeputy Governors,, a Secretary

General to the Treasury and 5General to the Treasury and 5

Assistant Governors who areAssistant Governors who areappointed.appointed.


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All members except the DeputyAll members except the DeputyGovernors are appointed by theGovernors are appointed by the

King of Malaysia.King of Malaysia.

Members have 3 year terms, butMembers have 3 year terms, butare eligible for re-appointment.are eligible for re-appointment.


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It has 5 divisions head by anIt has 5 divisions head by anAssistant Governor.Assistant Governor.

The 5 divisions are Economics,The 5 divisions are Economics,

Investments & Operations,Investments & Operations,Organizational Development,Organizational Development,

Supervision, and RegulationSupervision, and Regulation

It has rep offices in New andIt has rep offices in New andLondon.London.

It has reserves as of July 31, 2005It has reserves as of July 31, 2005

of US$ 78.25 billion.of US$ 78.25 billion.


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Peoples Bank of ChinaPeoples Bank of China

Central bank of the PeoplesCentral bank of the PeoplesRepublic of China.Republic of China.

Founded on December 1, 1948.Founded on December 1, 1948.

It started functioning as a centralIt started functioning as a centralbank on Sept. 1983 as approved bybank on Sept. 1983 as approved bythe State Council of China.the State Council of China.

It is headed by a Governor.It is headed by a Governor. It has official reserves of US$ 1.33It has official reserves of US$ 1.33trillion as of June 2007.trillion as of June 2007.


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Central Bank of ChinaCentral Bank of China

Central bank of the Republic ofCentral bank of the Republic ofChina or Taiwan.China or Taiwan.

Sole monetary policy making bodySole monetary policy making body

in ROC.in ROC. Its decision making body isIts decision making body is

composed of 3 parts the Board ofcomposed of 3 parts the Board of

Directors, the Board of Supervisors,Directors, the Board of Supervisors,and the Governor and the Deputyand the Governor and the Deputy

Governors.Governors.


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The Board of Directors is theThe Board of Directors is thehighest decision making body in thehighest decision making body in thecentral bank.central bank.

It has 11 to 15 members nominatedIt has 11 to 15 members nominatedby the Executive Yuan (Cabinet)by the Executive Yuan (Cabinet)and appointed by the President.and appointed by the President.

The Governor, the Minister ofThe Governor, the Minister ofFinance, and the Minister ofFinance, and the Minister ofEconomic Affairs are ex-officioEconomic Affairs are ex-officiodirectors and executive directors.directors and executive directors.


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Board directors, except for ex-Board directors, except for ex-officio directors, are appointed to aofficio directors, are appointed to a

5 year term and can be re-5 year term and can be re-

appointed.appointed. It reserves as of October 2004It reserves as of October 2004

stood at US$ 235 billion.stood at US$ 235 billion.


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Bank of Thailand (BOT)Bank of Thailand (BOT)

Founded on June 24, 1940.Founded on June 24, 1940. Its composed of 11 groups.Its composed of 11 groups.

It policy making body is the Court ofIt policy making body is the Court of

Directors.Directors.

Its composed of a Governor andIts composed of a Governor and

Deputy Governors appointed by theDeputy Governors appointed by the

King of Thailand who acts asKing of Thailand who acts asChairman and Vice ChairmenChairman and Vice Chairmen

respectively.respectively.


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There are other 5 members who areThere are other 5 members who areappointed by the Cabinet.appointed by the Cabinet.

It also has assistant governors andIt also has assistant governors and

directors.directors. It has 3 regional offices theIt has 3 regional offices the

Northern Region Office coveringNorthern Region Office coveringChiang Mai, Chiang Rai, etc.; theChiang Mai, Chiang Rai, etc.; theNortheastern Office covering UbonNortheastern Office covering UbonRatchathani, etc.; Southern RegionRatchathani, etc.; Southern RegionOffice covering Phuket, Krabi, etc.Office covering Phuket, Krabi, etc.


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It has rep offices in New York andIt has rep offices in New York andLondon.London.

It has official reserves of US$It has official reserves of US$

41.078 billion as of Aug. 26, 2005.41.078 billion as of Aug. 26, 2005.

H K M


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Hong Kong MonetaryHong Kong Monetary

Authority (HKMA)Authority (HKMA)

Founded on April 1, 1993.Founded on April 1, 1993. It reports to the Financial Secretary.It reports to the Financial Secretary.

Manages the Exchange Fund Manages the Exchange Fund

Hong Kongs official reservesHong Kongs official reserves

founded in 1935.founded in 1935.

Its headed by a Chief Executive,Its headed by a Chief Executive,

with 2 Deputy Chief Executives, andwith 2 Deputy Chief Executives, and9 Executive Directors who9 Executive Directors who

supervises the departments.supervises the departments.

H K M


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Hong Kong MonetaryHong Kong Monetary

Authority (HKMA)Authority (HKMA)

It has official reserves of US$It has official reserves of US$121.887 billion as of July 2005.121.887 billion as of July 2005.

It has rep office in London and NewIt has rep office in London and New

YorkYork

k S l blikB k S t l R blik


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Bank Sentral RepublikBank Sentral Republik

Indonesia (Bank Indonesia)Indonesia (Bank Indonesia)

Founded on May 17, 1999.Founded on May 17, 1999. Managed by a Board of Governors.Managed by a Board of Governors.

Its headed by a Governor, who isIts headed by a Governor, who is

assisted by a Senior Deputyassisted by a Senior Deputy

Governor who acts as the ViceGovernor who acts as the Vice

Governor, and 4 to 7 other DeputyGovernor, and 4 to 7 other Deputy

Governors.Governors.

B k S l R blikB k S t l R blik


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Bank Sentral RepublikBank Sentral Republik

Indonesia (Bank Indonesia)Indonesia (Bank Indonesia)

They serve a term of 5 years eachThey serve a term of 5 years eachand eligible for re-appointment up toand eligible for re-appointment up to2 terms.2 terms.

The Governor and the Senior DeputyThe Governor and the Senior DeputyGovernor are appointed by theGovernor are appointed by thePresident with approval from thePresident with approval from theHouse of Representatives.House of Representatives.

It has rep offices in Tokyo, London,It has rep offices in Tokyo, London,New York, and Singapore.New York, and Singapore.

Its official reserves as of end of 2002Its official reserves as of end of 2002

was US$ 31.6 billion.was US$ 31.6 billion.

A i D l t B kA i D l t B k


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Asian Development BankAsian Development Bank

(ADB)(ADB)



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(ADB)(ADB)

Founded in 1966.Founded in 1966. Its a multilateral development financialIts a multilateral development financial

institution.institution. Has 67 member countries.Has 67 member countries.

Headquarters is in Manila.Headquarters is in Manila. Has US$ 53.3 billion in capital.Has US$ 53.3 billion in capital. Managed by a Board of Governors, aManaged by a Board of Governors, a

Board of Directors, a President, 4 ViceBoard of Directors, a President, 4 Vice

Presidents, a Managing Director General,Presidents, a Managing Director General,and the Heads of departments andand the Heads of departments andoffices.offices.

Each member country nominates oneEach member country nominates onegovernor and an alternate governor togovernor and an alternate governor tovote on its behalf.vote on its behalf.



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(ADB)(ADB)

Board of Governors elect theBoard of Governors elect thepresident for a term of 5 years, withpresident for a term of 5 years, with

the possibility of re-election.the possibility of re-election.

Board of Governors elects the 12Board of Governors elects the 12board of directors (each with anboard of directors (each with an

alternate).alternate).

The ADB president chairs the boardThe ADB president chairs the boardof directors.of directors.



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(ADB)(ADB)

Its main source of funds areIts main source of funds aremember countries contributionsmember countries contributions

and its bond issues on the worldsand its bond issues on the worlds

capital markets.capital markets. Its main mission is to fight povertyIts main mission is to fight poverty

by helping its developing memberby helping its developing member

countries reduce poverty andcountries reduce poverty andimprove the quality of life for itsimprove the quality of life for its

people.people.



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(ADB)(ADB)

Its main tools in providing help toIts main tools in providing help toits developing member countriesits developing member countries

are:are:

2.2. Policy DialoguePolicy Dialogue3.3. LoansLoans

4.4. Technical AssistanceTechnical Assistance

5.5. GrantsGrants

6.6. GuaranteesGuarantees

7.7.

Equity InvestmentsEquity Investments



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(ADB)(ADB)

It lends around US$ 6 billionIt lends around US$ 6 billionannually.annually.

It has 26 offices around the worldIt has 26 offices around the world

and 19 missions in Asia.and 19 missions in Asia. It has more than 2,000 employeesIt has more than 2,000 employees

from over 50 countries.from over 50 countries.

Af i D l t B kAfrican De elopment Bank


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African Development BankAfrican Development Bank

(ADB)(ADB)

Established in 1963 in Khartoum, Sudan.Established in 1963 in Khartoum, Sudan. Authorized Capital is US$ 33 billion.Authorized Capital is US$ 33 billion. Governed by a Board of Governors,Governed by a Board of Governors,

Board of Directors, President, 5 ViceBoard of Directors, President, 5 Vice

Presidents, and a senior managementPresidents, and a senior managementteam.team. Board of Governors is composed ofBoard of Governors is composed of

ministers and high level officials ofministers and high level officials ofeconomic and financial institutions ofeconomic and financial institutions ofmember countries.member countries.

AAA rated.AAA rated. Has total assets of US$ 18.67 billion.Has total assets of US$ 18.67 billion. Has total capital of US$ 6.74 billion.Has total capital of US$ 6.74 billion.

B k f I t ti lBank of International


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Bank of InternationalBank of International

Settlements (BIS)Settlements (BIS)

Central bank of central banks.Central bank of central banks. Established in 1930.Established in 1930.

Worlds oldest internationalWorlds oldest international

financial organization.financial organization. Headquartered in Basel,Headquartered in Basel,

Switzerland.Switzerland.

Governed by a Board of DirectorsGoverned by a Board of Directors

and an Executive Committee.and an Executive Committee.

Board of Directors has 19 members.Board of Directors has 19 members.

B k f I t ti lBank of International


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Bank of InternationalBank of International

Settlements (BIS)Settlements (BIS)

Provides currency Deposits toProvides currency Deposits tocentral banks.central banks.

Provides investment services toProvides investment services to

central banks.central banks. Provides short term credits toProvides short term credits to

central banks, usually on acentral banks, usually on a

collateralized basis.collateralized basis.


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World Bank (WB)World Bank (WB)

Established July 1, 1944.Established July 1, 1944. Has 185 member countries.Has 185 member countries.

Headquarters is in Washington,Headquarters is in Washington,

D.C.D.C. Governed by a Board of Directors.Governed by a Board of Directors.


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World Bank (WB)World Bank (WB)

Composed of 5 groups:Composed of 5 groups:2.2. International Bank for ReconstructionInternational Bank for Reconstruction

and Development (IBRD)and Development (IBRD)

3.3. International Development AssociationInternational Development Association(IDA)(IDA)

4.4. International Finance CorporationInternational Finance Corporation

5.5. Multilateral Investment GuaranteeMultilateral Investment Guarantee

AgencyAgency

6.6. International Center for Settlement ofInternational Center for Settlement of

Investment Disputes.Investment Disputes.

I t ti l B k f R t tiI t ti l B k f R t ti


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International Bank for ReconstructionInternational Bank for Reconstruction

and Development (IBRD)and Development (IBRD)

Established in 1945.Established in 1945. Has 184 member countries.Has 184 member countries.

Cumulative lending of US$ 407.4Cumulative lending of US$ 407.4

billion.billion. Aims to reduce poverty in middle-Aims to reduce poverty in middle-

income and credit worthy poorerincome and credit worthy poorer

countries.countries. Promotes sustainable developmentPromotes sustainable development

through low cost loans.through low cost loans.

I t ti l D l tI t ti l D l t


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International DevelopmentInternational Development

Association (IDA)Association (IDA)

Established in 1960.Established in 1960. Has 165 member countries.Has 165 member countries. Cumulative commitments of US$ 161Cumulative commitments of US$ 161

billion in terms of grants, interest freebillion in terms of grants, interest freecredits, and guarantees.credits, and guarantees.

Provides highly favorable financing toProvides highly favorable financing tothe worlds 81 poorest countries (homethe worlds 81 poorest countries (hometo 2.6 billion people).to 2.6 billion people).

These countries have little or no capacityThese countries have little or no capacityto borrow on market terms.to borrow on market terms.

International FinanceInternational Finance


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International FinanceInternational Finance

CorporationCorporation


Has committed portfolio of US$ 24.6Has committed portfolio of US$ 24.6

billion.billion. Promotes development thru privatePromotes development thru private

sector.sector.

Invests in private enterprises inInvests in private enterprises in

developing countries without govtdeveloping countries without govt

guarantees.guarantees.

Provides financing to regions andProvides financing to regions and

countries that have limited access tocountries that have limited access to

M ltil t l I t t G tM ltil t l I t t G t


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Multilateral Investment GuaranteeMultilateral Investment Guarantee

AgencyAgency


Cumulative guarantees totals US$Cumulative guarantees totals US$

14.7 billion.14.7 billion. Provides political risk insuranceProvides political risk insurance

(guarantees) from expropriation,(guarantees) from expropriation,

currency inconvertibility, breach ofcurrency inconvertibility, breach ofcontract, war, and civil disturbance.contract, war, and civil disturbance.

I t ti l C t f S ttl t fInternational Center for Settlement of


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International Center for Settlement ofInternational Center for Settlement of

Investment DisputesInvestment Disputes


Has 184 total cases registered.Has 184 total cases registered.

Provides international facilities forProvides international facilities for

conciliation and arbitration ofconciliation and arbitration of

investment disputes.investment disputes.

International Monetary FundInternational Monetary Fund


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(IMF)(IMF)


Headquarters in Washington, D.C.Headquarters in Washington, D.C.

Has 2,716 employees from 165Has 2,716 employees from 165countries.countries.

Has US$ 28 billion outstanding loans toHas US$ 28 billion outstanding loans to

74 member countries.74 member countries.

Governed by a Board of GovernorsGoverned by a Board of Governors

composed of members from eachcomposed of members from each

member countries.member countries.

Growth in IMF Membership, 1945 -Growth in IMF Membership, 1945 -


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p,p,20052005

(number of countries)(number of countries)



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(IMF)(IMF)

Established to promoteEstablished to promoteinternational monetary cooperation,international monetary cooperation,

exchange rate stability, fosterexchange rate stability, foster

economic growth and high levels ofeconomic growth and high levels ofemployment, provide temporaryemployment, provide temporary

financial assistance to countries tofinancial assistance to countries to

help balance of paymentshelp balance of payments

problems.problems.


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IMF ActivitiesIMF Activities

Surveillance IMF conducts an annual in-Surveillance IMF conducts an annual in-depth appraisals of each memberdepth appraisals of each membercountrys economic situation.countrys economic situation.

Technical Assistance and Training toTechnical Assistance and Training to

member countries in fiscal policy,member countries in fiscal policy,monetary and exchange rate policies,monetary and exchange rate policies,banking and financial system supervisionbanking and financial system supervisionand regulation, and statistics.and regulation, and statistics.

Financial Assistance provides loan toFinancial Assistance provides loan tohelp the balance of payments problemshelp the balance of payments problemsof member countries.of member countries.



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(ECB)(ECB)

Established in 1999.Established in 1999. Its the central bank for Europes singleIts the central bank for Europes single

currency, the eurocurrency, the euro .. Euro is the common currency in 13 EuropeanEuro is the common currency in 13 European

Union countries.Union countries. Headquarters is in Frankfurt, Germany.Headquarters is in Frankfurt, Germany. Governed by a Governing Council composed ofGoverned by a Governing Council composed of

6 members of the Executive Board and6 members of the Executive Board andGovernors of each of the national central banksGovernors of each of the national central banks

from the 13 euro area countries.from the 13 euro area countries. Issues euro banknotes and coins.Issues euro banknotes and coins. In charge of monetary policy and interest rateIn charge of monetary policy and interest rate

policy in the European Union.policy in the European Union.


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EuroEuro

Euro ParticipatingEuro Participating


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Euro ParticipatingEuro Participating

CountriesCountries


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Euro Member CountriesEuro Member Countries

BelgiumBelgium GermanyGermany IrelandIreland GreeceGreece SpainSpain FranceFrance ItalyItaly LuxembourgLuxembourg The NetherlandsThe Netherlands

AustriaAustria PortugalPortugal SloveniaSlovenia FinlandFinland

Inter-American DevelopmentInter-American Development


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BankBank

Established in 1959.Established in 1959. Has 47 member countries.Has 47 member countries. Has total assets of US$ 66.5 billion as of 2006.Has total assets of US$ 66.5 billion as of 2006. Has total capital of US$ 19.8 billion as of 2006.Has total capital of US$ 19.8 billion as of 2006. Earned US$ 243 million as of 2006.Earned US$ 243 million as of 2006. Governed by a Board of Governors, a Board ofGoverned by a Board of Governors, a Board of

Executive Directors, and a management team.Executive Directors, and a management team. Multilateral finance institution organized for theMultilateral finance institution organized for the

development of the Latin American countries.development of the Latin American countries.

It offers loans and grants to Latin AmericanIt offers loans and grants to Latin Americancountries to reduce poverty, expand growth,countries to reduce poverty, expand growth,increase trade, investment and regionalincrease trade, investment and regionalintegration, private sector development, andintegration, private sector development, andmodernization of the countries.modernization of the countries.



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Inter-American DevelopmentInter American Development

BankBank

Composed of two groups:Composed of two groups:2.2. Inter-American InvestmentInter-American Investment

Corporation (IIC) focuses onCorporation (IIC) focuses on

supporting small and mediumsupporting small and mediumsized businesses.sized businesses.

3.3. Multilateral Investment Fund (MIF)Multilateral Investment Fund (MIF)

promotes private sector growth promotes private sector growththru grants and investments.thru grants and investments.

ust banking & fi - session no 2

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