Verb (abbreviation of verb) The development trend of financial institutions in western countries since 1970s. Since the 1970s, financial institutions in western countries have achieved rapid development, showing the following trends:
First of all, banks are constantly innovating in their business and developing towards integration. Innovations in financial institutions, financial services, financial instruments and other fields have better met the needs of customers; At the same time, the combination of commercial banks and investment banks has promoted the development of banks; Universal commercial bank. Secondly, the establishment of multinational banks makes the development of banks more international.
Banks all over the world have set up branches abroad, set up multinational banks, engaged in international banking business and developed overseas financial business. Third, according to the requirements of the Basel Accord, the capital structure and operating structure should be reorganized. This code of conduct for international financial market participants proposed by the Bank for International Settlements has been observed by most banks in western developed countries.
Fourthly, M&A has become an effective means for the adjustment of modern commercial banks. Especially since the 1990s, the western banking industry has been constantly restructuring in order to adapt to the changes and requirements of the situation. Fifth, banking financial institutions and non-banking financial institutions are constantly merging to form a larger compound financial institution.
The traditional separate business model has been gradually broken, the businesses of various financial institutions are constantly overlapping, and the original differences of various financial institutions are narrowing day by day, forming a trend of diversified and integrated operation. To correctly understand and grasp the development trend of financial institutions in western countries, we should also analyze the historical background and internal reasons of this trend.
First of all, since the 1970s, economic liberalism has gained the upper hand in the war with state interventionism in the economic field. The governments represented by the United States and Britain are trying to reduce the government.
Intervene in the economy, give better play to the role of the market in the economy, and begin to relax financial control. This makes the competition among financial institutions increasingly fierce. Fierce competition has prompted the emergence of many new things: banks continue to carry out financial innovation and provide all-round services to attract customers; The banking industry brings complementary advantages through mergers, expands business areas and strives for a wide range of customers; The transition from separate operation to diversified comprehensive operation.
Second, the emergence of new technologies, especially the wide application of electronic communication, information processing and computers in the financial industry, has provided support for financial innovation and cross-regional operation of multinational banks. Thirdly, with the increasingly close contact of financial markets in various countries, the integration of banking rules in various countries, the supervision of banking operations and the prevention of risks in international financial markets are gradually put on the agenda. Therefore, the Basel Committee and other international financial organizations came into being to carry out international coordination and management.
It can be seen that the above development trend has its objective inevitability. It promotes the integration and development of the world financial industry, promotes the international capital flow, and helps banks to improve their operating efficiency, but at the same time it also puts forward new topics for the prevention of financial risks and the effective supervision of international banking. As a participant in the international financial market, China should learn from the development trend of financial institutions in western countries, deepen the reform of financial institutions, improve the competitiveness of the banking industry, and promote the process of financial internationalization in China.
6. What adjustments and reforms have China's financial system undergone? From its evolution, how to understand the influence of social and economic conditions on the formation of financial institutions system?
At present, China's financial system takes the central bank as the core, state-owned commercial banks as the main body, and various financial institutions coexist. The formation of this system has gone through the following process:
1. the financial system under the "unified" model before the reform and opening up. This is a highly centralized single national banking system with administrative means as the mainstay. Its characteristics are as follows: ① In silver
In terms of bank setup, China People's Bank is the only bank in China that handles all banking business, with numerous branches all over the country, monopolizing all bank credit. The People's Bank of China integrates currency issuance and credit business, which not only performs the functions of the central bank, but also runs the credit business of ordinary banks.
2. 1979- 1982 financial institution system. The Agricultural Bank of China has broken the long-standing pattern that financial institutions are subordinate to the People's Bank of China, and restored and established an independent professional bank. The People's Construction Bank of China, the Bank of China and the People's Bank of China form a diversified banking system.
3. 1983~ 1993 financial institution system. Since 1983, financial institutions have carried out the following reforms: the People's Bank of China has been decided to exercise the functions of the central bank exclusively; China Industrial and Commercial Bank was established to undertake the credit and urban savings business originally undertaken by the People's Bank of China; Increase comprehensive banks such as Bank of Communications and regional banks such as Guangdong Development Bank; Set up some non-bank financial institutions, such as China People's Insurance Company.
International financial institutions have played an active role in strengthening international cooperation and developing the world economy, which are as follows: ① providing short-term funds to alleviate the balance of payments deficit and to some extent alleviate the international payment crisis. (3) Providing long-term construction funds to promote the economic development of developing countries. ③ Adjust international liquidity to meet the needs of world economic development. ④ Stabilize the exchange rate and promote the growth of world trade.
Of course, the current international financial institutions also have some shortcomings, such as stricter loan conditions and rising loan interest rates, which have aggravated the payment difficulties of developing countries. Some international financial institutions attach conditions to loans and intervene in the economic policies and development plans of developing countries.
With the continuous reform and improvement of international financial institutions, they will play a more important role in the international economy and international finance.