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Chapter 1Typical commercial bank organization Shareholders Board of DirectorsChairman of the Board President Specific officer positionsCustomers must feel confident Some banks are organized as bank holding companies The BHC owns the stock of the bank or banks and is under thejurisdiction of the Federal Reserve Some BHCs will enter into banking-related activities such as brokerage or insurance services A bank holding company can ownbanks in more than one state thus facilitating interstate banking It can be one bank or many banks The three functions of banking Deposit function Most common type of demand deposit is the checking account M1 which is defined as coin andcurrency in circulation demand deposits at bankswith some exceptions travelers checks and funds withdraw able on demand at other financial institutions M1 isthe most widely quoted money supply figure because it reflects funds that are immediately available for spending-- the Payments function coin and currencychecks and electronic funds transfer The Credit Function Loans credit Chapter 2 Chronology 1791-1811 was the first bank of the US1811-1816 bank failures start to increase1816-1836 congress tries to create the second bank of US1836-1863 chaos in the banking system1863 National bank act formed and ratified 1980 depository institutions deregulation and monetary control act of 19801991 FDICIA FEDERAL DEPOSIT INSURANCE CORPORATION IMPROVEMENT ACT1992 know your customer guidelines National Bank was created to instill public confidence in banks National banks were privately owned but were charteredauthorized to conduct banking business-bythe federal government Nationally charter banks have strict requirements National Bank Act1 Created national banks 2 created the office of he comptroller of the currency its function was and still is to charter examine and issueregulations governing national banks 3 Introduced the national banknote and 4 Established a system of required reserves
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