The Industrial Organization of Banking Bank Behavior, Market Structu
This book aims to provide a thoroughly updated overview and evaluation of the industrial organization of banking. It examines the interplay among bank behaviour, market structure, and regulation from the perspective of a variety of public policy issu
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David Van Hoose
The Industrial Organization of Banking Bank Behavior, Market Structure, and Regulation
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Professor David Van Hoose Baylor University One Bear Place, 98003 Waco, USA TX 76798 [email protected]
ISBN 978-3-642-02820-5 e-ISBN 978-3-642-02821-2 DOI 10.1007/978-3-642-02821-2 Springer Heidelberg Dordrecht London New York Library of Congress Control Number: 2009937336 © Springer-Verlag Berlin Heidelberg 2010 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer. Violations are liable to prosecution under the German Copyright Law. The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: WMXDesign GmbH, Heidelberg Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Contents
1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Three Fundamental Areas Within the Industrial Organization of Banking Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bank Behavior and the Structure of Banking Markets . . . . . . . . . . Bank Competition and Public Policy . . . . . . . . . . . . . . . . . . . Assessing Bank Regulation . . . . . . . . . . . . . . . . . . . . . . . . 2 The Banking Environment . . . . . . . . . . The Bank Balance Sheet . . . . . . . . . . . . Bank Assets . . . . . . . . . . . . . . . . . . Bank Liabilities and Equity Capital . . . . . The Bank Income Statement . . . . . . . . . . Interest Income . . . . . . . . . . . . . . . . Noninterest Income . . . . . . . . . . . . . . Interest Expenses . . . . . . . . . . . . . . . Expenses for Loan Loss Provisions . . . . . Real Resource Expenses . . . . . . . . . . . Bank Profitability Measures . . . . . . . . . Asymmetric Information and Risks in Banking Adverse Selection . . . . . . . . . . . . . . Moral Hazard . . . . . . . . . . . . . . . . . Risks on the Balance Sheet . . . . . . . . . . . Credit Risk . . . . . . . . . . . . . . . . . . Market Risks . . . . . . . . . . . . . . . . . Liquidity Risk . . . . . . . . . . . . . . . . Systemic Risk . . . . . . . . . . . . . . . . Risks Off of Bank Balance Sheets . . . . . . . Loan Commitments . . . . . . . . . . . . . . Securitization . . . . . . . . . . . . . . . . . Derivative Securities . . . . . . . . . . . . . Trends in U.S. Banking Industry Structure . . . Recent Patterns in U.S. Banking Structure . .
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