商业银行管理全套配套课件英文PPT教师手册习题习题答案 Chap011.ppt

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1、ChapterElevenLiquidityandReservesManagement:StrategiesandPoliciesKeyTopicsSourcesofDemandforandSupplyofLiquidityWhyFinancialFirmsHaveLiquidityProblemsLiquidityManagementStrategiesEstimatingLiquidityNeedsTheImpactofMarketDisciplineLegalReservesandMoneyM

2、anagementIntroductionOneofthemostimportanttasksthemanagementofanyfinancialinstitutionfacesisensuringadequateliquidityatalltimesAfinancialfirmisconsideredtobe“liquid”ifithasreadyaccesstoimmediatelyspendablefundsatreasonablecostatpreciselythetimethosefun

3、dsareneededThissuggeststhataliquidfinancialfirmeitherhasTherightamountofimmediatelyspendablefundsonhandwhentheyarerequiredTheycanraiseliquidfundsintimelyfashionbyborrowingorsellingassetsLackofadequateliquiditycanbeoneofthefirstsignsthatafinancialinstit

4、utionisintroubleAfinancialfirmcanbeclosedifitcannotraisesufficientliquidityeventhough,technically,itmaystillbesolventTheDemandforandSupplyofLiquidityDemandsforLiquidityCustomerdepositwithdrawalsCreditrequestsfromqualityloancustomersRepaymentofnondeposi

5、tborrowingsOperatingexpensesandtaxesPaymentofstockholderdividendsSuppliesofLiquidFundsIncomingcustomerdepositsRevenuesfromthesaleofnondepositservicesCustomerloanrepaymentsSalesofbankassetsBorrowingsfromthemoneymarketTheDemandforandSupplyofLiquidity(con

6、tinued)Thesevarioussourcesofliquiditydemandandsupplycometogethertodetermineeachfinancialfirm’snetliquiditypositionatanymomentintimeThatnetliquidityposition(L)attimetisLiquidityDeficitisLt<0andLiquiditySurplusisLt>0TheDemandforandSupplyofLiquidity(conti

7、nued)TheessenceofliquiditymanagementproblemsforfinancialinstitutionsRarelyaredemandsforliquidityequaltothesupplyofliquidityatanyparticularmomentintimeThefinancialfirmmustcontinuallydealwitheitheraliquiditydeficitoraliquiditysurplus.Thereisatrade-offbet

8、weenliquidityandprofitabilityThemoreresourcesaretiedupinreadinesstomeetdemandsforliquidity,theloweristhatfinancialfirm’sexpectedprofitability(otherfactorsheldconstant)WhyFinancialFirmsOftenFaceSignificantLiquidityProblemsImbalancesbetwe