20 19 summary of high-frequency test sites of intermediate finance for intermediate economist exam II In the preparation for the 20 19 intermediate economist exam, I shared the Marketization Reform of Key Interest Rates of Intermediate Finance for 20 19 intermediate economist exam, and introduced the key points of intermediate finance for intermediate economist for your reference. Pay attention to the intermediate economist exam channel and get more exam information!
China interest rate marketization reform ★★★★
I. Marketization of interest rates
The basic idea of interest rate marketization reform: first liberalize the money market interest rate and bond market interest rate, and then gradually promote the marketization of deposit and loan interest rates.
Among them, the marketization of deposit and loan interest rates is carried out in the order of foreign currency first, local currency later, loan first, deposit later, long-term large amount first and short-term small amount later.
Second, the process of interest rate marketization in China
China's interest rate marketization reform includes two parts: gradually relaxing interest rate control and cultivating market-oriented interest rate formation and regulation mechanism. Up to now, China's interest rate control has been basically abolished, and perfecting the formation and regulation mechanism of interest rate marketization is the current and future direction.
(A) gradually relax interest rate control
From 20 15 to 10, the floating ceiling of deposit interest rate is no longer set for commercial banks and rural cooperative financial institutions, and the era of interest rate control in China is over.
(B) Cultivate a market-oriented interest rate formation and regulation mechanism
1. Focus on cultivating the benchmark interest rate system of financial market represented by Shanghai Interbank Offered Rate (Shibor), yield curve of government bonds and benchmark interest rate for loans (LPR), and provide important reference for pricing financial products.
(1) On June 4th, 2007, Shibor officially put into operation, trying to provide the financial market with the pricing benchmark of products within1year. Shibor is an arithmetic average interest rate calculated and determined by the quotation group composed of banks with high credit rating according to the RMB interbank lending rate quoted independently. This is a simple, unsecured and wholesale interest rate.
20 19 intermediate economist examination "intermediate finance" high-frequency test center 2 20 19 intermediate economist preparation, I shared the "20 19 intermediate economist examination" intermediate finance key commercial banking system, which introduced the key points of intermediate finance for intermediate economists for your reference. Pay attention to the intermediate economist exam channel and get more exam information!
Test center commercial banking system ★★★★★★★★★
(A) the organizational system of commercial banks
1. Single banking system: the banking business is completely run by independent commercial banks, and no branches are established or allowed. America used to be typical.
Advantages and disadvantages of a single banking system;
(1) prevents the concentration and monopoly of banks, but limits the competitiveness of banks;
(2) reduce operating costs, but limit business innovation;
(3) strengthening local services, but limiting the scale benefits;
(4) Strong independence and autonomy, but poor ability to resist risks.
2. Branch system: also known as the general branch system, refers to the legal permission to set up branches at home and abroad under the head office. It is a widely used form of bank organization in various countries (including China).
According to the different forms and functions of general organizations, there are two forms:
(1) Head Office System (Head Office conducts business activities)
(2) Integrated management office system (the head office does not carry out business activities)
Advantages: ① High scale benefit; 2 strong competitiveness; ③ Easy to supervise.
Disadvantages: ① accelerating the monopoly and concentration of banks; ② Management is difficult.
3. Holding company system: also known as group banking system, that is, a holding company is established by a certain group, and the company holds or acquires more than two banks.
4. Chain banking system: also known as joint banking system, refers to the organizational system in which an individual or a group jointly operates two or more banks by purchasing most of the shares. There is no holding company in the chain banking system.
20 19 Intermediate Economist Exam Intermediate Finance High Frequency Test Center 3 20 19 Intermediate Economist Exam Preparation, I shared the 20 19 Intermediate Economist Exam Key Financial Institutions System and Its Institutional Arrangement. The following introduces the key points of intermediate finance for intermediate economists, for your reference, and pay attention to the intermediate economist exam channel to get more exam information!
China's financial institution system and its institutional arrangement
China's financial institution system mainly includes commercial banks, policy banks, securities institutions, insurance companies, financial asset management companies, rural credit cooperatives, trust companies, finance companies, financial leasing companies and microfinance companies.
Focus on: securities institutions, rural credit cooperatives, trust companies, finance companies and microfinance companies.
1. Trust Company
The essence is "entrusted by others to manage money on behalf of others", and managing money on behalf of others is carried out in the name of the trustee.
2. Finance companies
Non-bank financial institutions that provide financial management services for enterprise group members.
1987 Dongfeng motor industry finance company, the first enterprise group finance company, was established.
3. Microfinance companies
Financial institutions established by natural persons, enterprise legal persons and other social organizations that do not absorb public deposits and operate microfinance business.
The main sources of funds for microfinance companies are capital paid by shareholders, donated funds and integrated funds from no more than two banking financial institutions (no more than 50% of their net capital).
Small loan companies cannot invest abroad, set up branches or operate across industries.
20 19 intermediate economist exam "intermediate finance" high-frequency test center 4 20 19 intermediate economist preparation, I shared the "20 19 intermediate economist exam" Principles of management of key commercial banks in intermediate finance. The following introduces the main points of intermediate finance for intermediate economists for your reference. Pay attention to the intermediate economist exam channel and get more exam information!
Management principles of commercial banks in testing centers.
Commercial banks are financial intermediaries that operate on money and credit.
(1) Principles of operation and management of commercial banks
1. Security
In order to achieve the safety goal, commercial banks should do the following: ① raise enough self-owned capital and increase the proportion of self-owned capital in all assets. ② Reasonably arrange the scale and structure of assets and improve the quality of assets. (3) Abide by the law and operate legally.
2. Asset liquidity
(1) Discrimination: liquidity of assets and liquidity of liabilities.
(2) In order to meet the liquidity requirements, commercial banks should do the following: ① Adjust the asset structure and maintain a moderate proportion of assets with good liquidity. (2) Strengthen the management of liabilities and pay attention to meeting the liquidity requirements of bank operation from the aspect of liabilities. ③ Strengthen liquidity management and achieve liquidity management objectives.
3. Efficiency
(1) Advantages: ① Profit maximization not only provides financial support for commercial banks to expand their scale and business, but also gives higher returns to shareholders, driving the market price of banks to rise accordingly, which is conducive to raising bank funds. (2) Higher profitability can also enhance the reputation of banks, increase public trust in banks, help maintain good relations between banks and all sectors of society, and reduce operating costs.
(2) Commercial banks should do the following when pursuing efficiency improvement: ① Reduce non-profit assets and increase the proportion of profitable assets. ② Get more funds at the lowest possible cost. ③ Reduce loan and investment losses.
(2) The relationship among safety, liquidity and efficiency: there are both connections and contradictions.
Guiding ideology: Try to find a balance between these conflicting operating principles, and pursue as many benefits as possible on the premise of ensuring the safety and flow of funds.
(3) Operating and management principles of China Commercial Bank.
June 65438+February 65438+February 07, 2003 was revised as: "Commercial banks operate independently, bear their own risks, be responsible for their own profits and losses, and be self-disciplined".
(4) Prudent management rules of China commercial banks.
Including risk management, internal control, capital adequacy ratio, asset quality, loss reserve, risk concentration, related party transactions, asset liquidity, etc.
20 19 intermediate economist examination "intermediate finance" high-frequency test center 5 20 19 intermediate economist preparation, I shared the "20 19 intermediate economist examination" intermediate finance key investment banks and securities investment funds, which introduced the key points of intermediate finance for intermediate economists for your reference. Pay attention to the intermediate economist exam channel and get more exam information!
Test site 1: the function of investment bank ★★★★★★★
The four basic functions of investment banks are: supply and demand of media funds, construction of securities market, optimization of resource allocation and promotion of industrial concentration.
(A) the intermediary of capital supply and demand
Investment banks play the role of supply and demand of media funds through four intermediary functions:
Term intermediary, risk intermediary, information intermediary and liquidity intermediary.
Test site 2 securities issuance and underwriting business ★★★★★★★
(A) the concept and methods of underwriting securities issuance
1. Securities issuance and underwriting-the most primitive and basic business activity, also known as securities primary market business.
Securities issuance: the act of commercial institutions or government agencies selling securities to social investors in accordance with the conditions and procedures prescribed by law to raise funds.
Securities underwriting: In the process of securities issuance, the investment bank helps the issuer to price and sell the issued securities according to the agreement.
2. Securities underwriting methods
Underwriting, best selling (consignment) and balance underwriting.
When underwriting securities, China securities companies shall adopt underwriting or consignment mode in accordance with the provisions of the Securities Law of People's Republic of China (PRC).
(1) Underwriting: The underwriter bears all the risks of securities sales and prices.
(2) Trial sale (consignment): the underwriter does not bear the risk of issuance. There is an agency relationship between the investment bank and the issuer, and the investment bank only charges a handling fee.
(3) Balance underwriting: usually occurs when shareholders exercise the preemptive right.