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8/18/2019 Chapter 15 pengantar bisnis
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FHF
McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc !ll rights reser"e#
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part
CHAPTER 15 Money and the Financial System
6
FHF
15-2
CHAPTER 14 Accounting and Financial Statements
Financing theFinancing the
EnterpriseEnterprise
CHAPTER 16 Financial anagement and Securities ar!ets
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FHF
FinanceFinance
T"e stud# o$ mone#%"o& it's made( "o& it's lostand "o& it's managed
Money
An#t"ing generall# accepted in e)c"ange $or goodsand ser*ices
an# materials "a*e +een used as mone#
15-,
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Functions o$ one#Functions o$ one#
Medium of echange
Accepted as pa#ment $or products and resources
Bartering. Trading one good or ser*ice $or anot"ero$ similar *alue
/ne0cient +ecause not al&a#s di*isi+le and can +ecomplicated in multiple-part# transactions
Measure of !alue
Single standard $or assigning and comparing *alues o$products and resources
Store of !alue
eans o$ retaining and accumulating &ealt"
15-4
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FHF
C"aracteristics o$ one#C"aracteristics o$ one#
Accepta+ilit#
i*isi+ilit#
Porta+ilit#
Sta+ilit#
ura+ilit#
i0cult# to counter$eit
15-5
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FHF
T#pes o$ one# T#pes o$ one#
Paper Money and Coins
Chec"ing Account #$emand $eposit%& one#stored
in an account at a +an! t"at can +e &it"dra&n&it"out ad*ance notice
C"ec!s ser*e as a more secure su+stitute $or cas"
Sa!ings Account #Time $eposit%. Accounts &it"
$unds t"at usuall# cannot +e &it"dra&n &it"outad*ance notice
15-6
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FHF
T#pes o$ one# T#pes o$ one#
Credit Cards
eans o$ access to preappro*ed lines o$ creditgranted +# a +an! or a nance compan#
Credit card companies "a*e +een t"e su+ect o$criticism and scrutin#
15-
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FHF
T#pes o$ one# T#pes o$ one#
$e(it Card
A card t"at loo!s li!e a credit card +ut &or!s li!ea c"ec!
A direct electronic pa#ment $rom t"e card"older'sc"ec!ing account
Tra!eler)s Chec"s* Money +rders* Cashier)sChec"s
7t"er common $orms o$ 8near9 mone#:uaranteed as cas"
15-;
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FHF
T"e Fed T"e Fed
Four ma-or functions.
1=Controls t"e mone# suppl# &it" monetar# polic#
2=Regulates nancial institutions
,=anages regional and national c"ec!-clearingprocedures
4=Super*ises t"e $ederal deposit insurance o$
commercial +an!s in t"e Federal Reser*e s#stem
15-11
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onetar# Policiesonetar# Policies
Monetary Policy
T"e means +# &"ic" t"e Fed controls t"e amount o$mone# a*aila+le in t"e econom#
Aims to !eep suppl# and demand in +alance to a*oidin?ation@de?ation
15-12
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Four ain onetar# Polic# ToolsFour ain onetar# Polic# Tools
1. +pen Mar"et +perations. ecisions to +u#or sell
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7t"er Regulator# Functions7t"er Regulator# Functions
o$ t"e Fedo$ t"e Fed
Regulating mem(er (an"s
Esta+lis"es and en$orces +an!ing rules t"ataBect monetar# polic# and competition
Has aut"orit# to appro*e +an! mergers
Chec" clearing
Dational c"ec! processing t"roug" c"ec!clearing"ouses
$epository insuranceSuper*ises t"e $ederal insurance $unds t"at protectt"e deposits in mem+er +an!ing institutions
15-14
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FHF
an!ing /nstitutionsan!ing /nstitutions
Commercial ,an"s
argest and oldest o$ all nancial institutions(rel#ing mainl# on c"ec!ing and sa*ings accounts
oan to +usinesses and indi*iduals
Sa!ings and 3oan Associations SsG also called8t"ri$ts9
Primaril# oBer sa*ings accounts and ma!e long-termloans $or residential mortgages
ost "a*e merged &it" commercial +an!s
New hybrid bank institutions perform multiple functions
15-15
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an!ing /nstitutionsan!ing /nstitutions
Credit 4nions
Financial institutions o&ned and controlled +#depositors
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Don-an!ing /nstitutionsDon-an!ing /nstitutions
$i!ersi'ed Firms& Traditionall# non-nancial rmst"at "a*e e)panded into t"e nancial eld
nsurance Companies. usinesses t"at protectt"eir clients against losses $rom specied ris!s
Pension Funds. anaged in*estment pools topro*ide retirement income $or mem+ers
15-1
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FHF
Don-an!ing /nstitutionsDon-an!ing /nstitutions
Mutual Fund. /n*estment compan# t"at poolsin*estor mone# and in*ests in large num+ers
o$ di*ersied securities
,ro"erage Firm. u# and sell securities $or clients
and pro*ide ot"er ser*ices n!estment ,an" .
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FHF
Electronic an!ingElectronic an!ing
ETF. Electronic $unds trans$er
ATM. Automated teller mac"ines
ACHs. Automated clearing"ouses
+nline ,an"ing. an! at "ome oran#&"ere@an#time
( Increasing the range of services)
15-2>
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Future o$ an!ingFuture o$ an!ing
Ad*ances in tec"nolog# are c"allenging andc"anging t"e +an!ing industr#
Trend to&ard larger +an!s( e*en in t"e &a!e o$
2>>-2>1> nancial crisis