Bank Management & Financial Services

Title
Contents
PART ONE INTRODUCTION TO BANKING AND FINANCIAL SERVICES
	1 An Overview of the Changing Financial- Services Sector
		Key Topics in This Chapter
		1–1 Introduction
		1–2 What Is a Bank?
		1–3 The Financial System and Competing Financial- Service Institutions
			Roles of the Financial System
			The Competitive Challenge for Banks
			Leading Competitors with Banks
		1–4 Services Banks and Many of Their Closest Competitors Offer the Public
			Services Banks Have Offered for Centuries
			Services Banks and Many of Their Financial-Service Competitors Began Offering in the Past Century
			Convenience: The Sum Total of All Banking and Financial Services
		1–5 Key Trends Affecting All Financial-Service Firms
		1–6 The Plan of This Book
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: The Very First Case Assignment
		Selected References
		Appendix: Career Opportunities in Financial Services
	2 The Impact of Government Policy and Regulation on the Financial-Services Industry
		Key Topics in This Chapter
		2–1 Introduction
		2–2 Banking Regulation
			Pros and Cons of Strict Rules
			The Impact of Regulation—The Arguments for Strict Rules versus Lenient Rules
		2–3 Major Banking Laws—Where and When the Rules Originated
			Meet the “Parents”: The Legislation That Created Today’s Bank Regulators
			Instilling Social Graces and Morals—Social Responsibility Laws
			Legislation Aimed at Allowing Interstate Banking: Where Can the “Kids” Play?
			The Gramm-Leach-Bliley Act (1999): What Are Acceptable Activities for Playtime?
			The USA Patriot and Bank Secrecy Acts: Fighting Terrorism and Money Laundering
			Telling the Truth and Not Stretching It—The Sarbanes- Oxley Accounting Standards Act (2002)
		2–4 The 21st Century Ushers In an Array of New Laws, Regulations, and Regulatory Strategies
		2–5 The Regulation of Nonbank Financial-Service Firms Competing with Banks
			Regulating the Thrift (Savings) Industry
			Regulating Other Nonbank Financial Firms
			Are Regulations Really Necessary in the Financial-Services Sector?
		2–6 The Central Banking System: Its Impact on the Decisions and Policies of Financial Institutions
			Organizational Structure of the Federal Reserve System
			The Central Bank’s Principal Task: Making and Implementing Monetary Policy
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 2
		Selected References
	3 The Organization and Structure of Banking and the Financial-Services Industry
		Key Topics in This Chapter
		3–1 Introduction
		3–2 The Organization and Structure of the Commercial Banking Industry
			Advancing Size and Concentration of Assets
			Is a Countertrend Now under Way?
		3–3 Internal Organization of the Banking Firm
			Community Banks and Other Community-Oriented Financial Firms
			Larger Banks—Money Center, Wholesale and Retail
			Trends in Organization
		3–4 The Array of Organizational Structures and Types in the Banking Industry
			Unit Banking Organizations
			Branching Organizations
			Electronic Branching—Web Sites and Electronic Networks: An Alternative or a Supplement to Traditional Bank Branch Offices?
			Holding Company Organizations
		3–5 Interstate Banking Organizations and the Riegle- Neal Interstate Banking and Branching Efficiency Act of 1994
			Research on Interstate Banking
		3–6 An Alternative Type of Banking Organization Available as the 21st Century Opened: Financial Holding Companies (FHCs)
		3–7 Mergers and Acquisitions Reshaping the Structure and Organization of the Financial-Services Sector
		3–8 The Changing Organization and Structure of Banking’s Principal Competitors
		3–9 Efficiency and Size: Do Bigger Financial Firms Operate at Lower Cost?
			Efficiency in Producing Financial Services
		3–10 Financial Firm Goals: Their Impact on Operating Cost, Efficiency, and Performance
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 3
		S&P Market Insight Challenge
		Selected References
	4 Establishing New Banks, Branches, ATMs, Telephone Services, and Web Sites
		Key Topics in This Chapter
		4–1 Introduction
		4–2 Chartering a New ( De Novo ) Financial-Service Institution
		4–3 The Bank Chartering Process in the United States
		4–4 Questions Regulators Usually Ask the Organizers of a New ( De Novo ) Bank
		4–5 Factors Weighing on the Decision to Seek a New Charter
		4–6 Volume and Characteristics of New Charters
		4–7 How Well Do New Charters Perform?
		4–8 Establishing Full-Service Branch Offices: Choosing Locations and Designing New Branches
			Desirable Sites for New Branches
			Branch Regulation
			The Changing Role of Financial-Service Branch Offices
			In-Store Branching
		4–9 Establishing and Monitoring Automated Limited-Service Facilities
			Point-of-Sale Terminals
			Automated Teller Machines (ATMs)
		4–10 Home and Office Banking
			Telephone Banking and Call Centers
			Internet Banking
		4–11 Financial-Service Facilities of the Future
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 4
		S&P Market Insight Challenge
		Selected References
PART TWO FINANCIAL STATEMENTS AND FINANCIAL-FIRM PERFORMANCE
	5 The Financial Statements of Banks and Their Principal Competitors
		Key Topics in This Chapter
		5–1 Introduction
		5–2 An Overview of Balance Sheets and Income Statements
		5–3 The Balance Sheet (Report of Condition)
			The Principal Types of Accounts
			Recent Expansion of Off-Balance-Sheet Items in Banking
			The Problem of Book-Value Accounting
			Auditing: Assuring Reliability of Financial Statements
		5–4 Components of the Income Statement (Report of Income)
			Financial Flows and Stocks
			Comparative Income Statement Ratios for Different-Size Financial Firms
		5–5 The Financial Statements of Leading Nonbank Financial Firms: A Comparison to Bank Statements
		5–6 An Overview of Key Features of Financial Statements and Their Consequences
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 5
		Selected References
		Appendix: Sources of Information on the Financial- Services Industry
	6 Measuring and Evaluating the Performance of Banks and Their Principal Competitors
		Key Topics in This Chapter
		6–1 Introduction
		6–2 Evaluating Performance
			Determining Long-Range Objectives
			Maximizing the Value of the Firm: A Key Objective for Nearly All Financial-Service Institutions
			Profitability Ratios: A Surrogate for Stock Values
			Useful Profitability Formulas for Banks and Other Financial-Service Companies
			Return on Equity and Its Principal Components
			The Return on Assets and Its Principal Components
			What a Breakdown of Profitability Measures Can Tell Us
			Measuring Risk in Banking and Financial Services
			Other Goals in Banking and Financial-Services Management
		6–3 Performance Indicators among Banking’s Key Competitors
		6–4 The Impact of Size on Performance
			Size, Location, and Regulatory Bias in Analyzing the Performance of Banks and Competing Financial Institutions
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 6
		Selected References
		Appendix: Using Financial Ratios and Other Analytical Tools to Track Financial-Firm Performance—The UBPR and BHCPR
PART THREE TOOLS FOR MANAGING AND HEDGING AGAINST RISK
	7 Risk Management for Changing Interest Rates: Asset-Liability Management and Duration Techniques
		Key Topics in This Chapter
		7–1 Introduction
		7–2 Asset-Liability Management Strategies
			Asset Management Strategy
			Liability Management Strategy
			Funds Management Strategy
		7–3 Interest Rate Risk: One of the Greatest Management Challenges
			Forces Determining Interest Rates
			The Measurement of Interest Rates
			The Components of Interest Rates
			Responses to Interest Rate Risk
		7–4 One of the Goals of Interest Rate Hedging: Protect the Net Interest Margin
			Interest-Sensitive Gap Management as a Risk- Management Tool
			Problems with Interest-Sensitive GAP Management
		7–5 The Concept of Duration as a Risk- Management Tool
			What Is Duration?
			Price Sensitivity to Changes in Interest Rates and Duration
			Convexity and Duration
		7–6 Using Duration to Hedge against Interest Rate Risk
		7–7 The Limitations of Duration Gap Management
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 7
		S&P Market Insight Challenge
		Selected References
	8 Risk Management: Financial Futures, Options, Swaps, and Other Hedging Tools
		Key Topics in This Chapter
		8–1 Introduction
		8–2 Uses of Derivative Contracts
		8–3 Financial Futures Contracts: Promises of Future Security Trades at a Set Price
			The Short Hedge in Futures
			The Long Hedge in Futures
		8–4 Interest-Rate Options
		8–5 Regulations and Accounting Rules for Bank Futures and Options Trading
		8–6 Interest-Rate Swaps
		8–7 Caps, Floors, and Collars
			Interest-Rate Caps
			Interest-Rate Floors
			Interest-Rate Collars
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 8
		S&P Market Insight Challenge
		Selected References
	9 Risk Management: Asset-Backed Securities, Loan Sales, Credit Standbys, and Credit Derivatives
		Key Topics in This Chapter
		9–1 Introduction
		9–2 Securitizing Loans and Other Assets
			The Beginnings of Securitization—The Home Mortgage Market
			Examples of Other Assets That Have Been Securitized
			The Impact of Securitization upon Lending Institutions
			Regulators’ Concerns about Securitization
		9–3 Sales of Loans to Raise Funds and Reduce Risk
			Reasons behind Loan Sales
			The Risks in Loan Sales
		9–4 Standby Credit Letters to Reduce the Risk of Nonpayment or Nonperformance
			The Structure of SLCs
			The Value and Pricing of Standby Letters
			Sources of Risk with Standbys
			Regulatory Concerns about SLCs
			Research Studies on Standbys, Loan Sales, and Securitizations
		9–5 Credit Derivatives: Contracts for Reducing Credit Risk Exposure on the Balance Sheet
			Credit Swaps
			Credit Options
			Credit Default Swaps (CDSs)
			Credit-Linked Notes
			Collateralized Debt Obligations (CDOs)
			Risks Associated with Credit Derivatives
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 9
		Selected References
PART FOUR MANAGING INVESTMENT PORTFOLIOS AND LIQUIDITY POSITIONS FOR FINANCIAL FIRMS
	10 The Investment Function in Financial- Services Management
		Key Topics in This Chapter
		10–1 Introduction
		10–2 Investment Instruments Available to Financial Firms
		10–3 Popular Money Market Investment Instruments
			Treasury Bills
			Short-Term Treasury Notes and Bonds
			Federal Agency Securities
			Certificates of Deposit
			International Eurocurrency Deposits
			Bankers’ Acceptances
			Commercial Paper
			Short-Term Municipal Obligations
		10–4 Popular Capital Market Investment Instruments
			Treasury Notes and Bonds
			Municipal Notes and Bonds
			Corporate Notes and Bonds
		10–5 Investment Instruments Developed More Recently
			Structured Notes
			Securitized Assets
		10–6 Investment Securities Held by Banks
		10–7 Factors Affecting Choice of Investment Securities
			Expected Rate of Return
			Tax Exposure
			Interest Rate Risk
			Credit or Default Risk
			Business Risk
			Liquidity Risk
			Call Risk
			Prepayment Risk
			Inflation Risk
			Pledging Requirements
		10–8 Investment Maturity Strategies
		10–9 Maturity Management Tools
			The Yield Curve
			Duration
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 10
		S&P Market Insight Challenge
		Selected References
	11 Liquidity and Reserves Management: Strategies and Policies
		Key Topics in This Chapter
		11–1 Introduction
		11–2 The Demand for and Supply of Liquidity
		11–3 Why Financial Firms Often Face Significant Liquidity Problems
		11–4 Strategies for Liquidity Managers
			Asset Liquidity Management (or Asset Conversion) Strategies
			Borrowed Liquidity (Liability) Management Strategies
			Balanced Liquidity Management Strategies
			Guidelines for Liquidity Managers
		11–5 Estimating Liquidity Needs
			The Sources and Uses of Funds Approach
			The Structure of Funds Approach
			Liquidity Indicator Approach
			The Ultimate Standard for Assessing Liquidity Needs: Signals from the Marketplace
		11–6 Legal Reserves and Money Position Management
			Regulations on Calculating Legal Reserve Requirements
			Factors Influencing the Money Position
		11–7 Factors in Choosing among the Different Sources of Reserves
		11–8 Central Bank Reserve Requirements around the Globe
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 11
		S&P Market Insight Challenge
		Selected References
PART FIVE MANAGING SOURCES OF FUNDS FOR A FINANCIAL FIRM
	12 Managing and Pricing Deposit Services
		Key Topics in This Chapter
		12–1 Introduction
		12–2 Types of Deposits Offered by Banks and Other Depository Institutions
			Transaction (Payments or Demand) Deposits
			Nontransaction (Savings or Thrift) Deposits
			Retirement Savings Deposits
		12–3 Interest Rates Offered on Different Types of Deposits
			The Composition of Deposits
			The Ownership of Deposits
			The Cost of Different Deposit Accounts
		12–4 Pricing Deposit-Related Services
		12–5 Pricing Deposits at Cost Plus Profit Margin
		12–6 Using Marginal Cost to Set Interest Rates on Deposits
			Conditional Pricing
		12–7 Pricing Based on the Total Customer Relationship and Choosing a Depository
			The Role That Pricing and Other Factors Play When Customers Choose a Depository Institution to Hold Their Accounts
		12–8 Basic (Lifeline) Banking: Key Services for Low-Income Customers
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 12
		S&P Market Insight Challenge
		Selected References
	13 Managing Nondeposit Liabilities
		Key Topics in This Chapter
		13–1 Introduction
		13–2 Liability Management and the Customer Relationship Doctrine
		13–3 Alternative Nondeposit Sources of Funds
			Federal Funds Market (“Fed Funds”)
			Repurchase Agreements as a Source of Funds
			Borrowing from Federal Reserve Bank s
			Advances from Federal Home Loan Banks
			Development and Sale of Large Negotiable CDs
			The Eurocurrency Deposit Market
			Commercial Paper Market
			Long-Term Nondeposit Funds Sources
		13–4 Choosing among Alternative Nondeposit Sources
			Measuring a Financial Firm’s Total Need for Nondeposit Funds: The Available Funds Gap
			Nondeposit Funding Sources: Factors to Consider
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 13
		Selected References
	14 Investment Banking, Insurance, and Other Sources of Fee Income
		Key Topics in This Chapter
		14–1 Introduction
		14–2 Sales of Investment Banking Services
			Key Investment Banking Services
			Linkages between Commercial and Investment Banking
			Possible Advantages and Disadvantages of Linking Commercial and Investment Banking
			Key Issues for Investment Banks of the Future
		14–3 Selling Investment Products to Consumers
			Mutual Fund Investment Products
			Annuity Investment Products
			The Track Record for Sales of Investment Products
			Risks and Rules for Selling Investment Products
		14–4 Trust Services as a Source of Fee Income
		14–5 Sales of Insurance-Related Products
			Types of Insurance Products Sold Today
			Rules Covering Insurance Sales by Federally Insured Depository Institutions
		14–6 The Alleged Benefits of Financial-Services Diversification
			An Example of the Product-Line Diversification Effect Reducing Risk
			Potential Economies of Scale and Scope
		14–7 Information Flows within the Financial Firm
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 14
		S&P Market Insight Challenge
		Selected References
	15 The Management of Capital
		Key Topics in This Chapter
		15–1 Introduction
		15–2 The Many Tasks Capital Performs
		15–3 Capital and Risk
			Key Risks in Banking and Financial Institutions’ Management
			Defenses against Risk
		15–4 Types of Capital in Use
			Relative Importance of Different Sources of Capital
		15–5 One of the Great Issues in the History of Banking: How Much Capital Is Really Needed?
			Regulatory Approach to Evaluating Capital Needs
		15–6 The Basel Agreement on International Capital Standards: A Historic Contract among Leading Nations
			Basel I
			Capital Requirements Attached to Derivatives
			Basel II: A New Capital Accord Unfolding
		15–7 Changing Capital Standards Inside the United States
		15–8 Planning to Meet Capital Needs
			Raising Capital Internally
			Raising Capital Externally
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 15
		Selected References
PART SIX PROVIDING LOANS TO BUSINESSES AND CONSUMERS
	16 Lending Policies and Procedures: Managing Credit Risk
		Key Topics in This Chapter
		16–1 Introduction
		16–2 Types of Loans
			Factors Determining the Growth and Mix of Loans
		16–3 Regulation of Lending
			Establishing a Good Written Loan Policy
		16–4 Steps in the Lending Process
		16–5 Credit Analysis: What Makes a Good Loan?
			1. Is the Borrower Creditworthy? The Cs of Credit
			2. Can the Loan Agreement Be Properly Structured and Documented?
			3. Can the Lender Perfect Its Claim against the Borrower’s Earnings and Any Assets That May Be Pledged as Collateral?
		16–6 Sources of Information about Loan Customers
		16–7 Parts of a Typical Loan Agreement
		16–8 Loan Review
		16–9 Loan Workouts
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 16
		Selected References
	17 Lending to Business Firms and Pricing Business Loans
		Key Topics in This Chapter
		17–1 Introduction
		17–2 Brief History of Business Lending
		17–3 Types of Business Loans
		17–4 Short-Term Loans to Business Firms
			Self-Liquidating Inventory Loans
			Working Capital Loans
			Interim Construction Financing
			Security Dealer Financing
			Retailer and Equipment Financing
			Asset-Based Financing
			Syndicated Loans (SNCs)
		17–5 Long-Term Loans to Business Firms
			Term Business Loans
			Revolving Credit Financing
			Long-Term Project Loans
			Loans to Support the Acquisition of Other Business Firms—Leveraged Buyouts
		17–6 Analyzing Business Loan Applications
			Analysis of a Business Borrower’s Financial Statements
		17–7 Financial Ratio Analysis of a Customer’s Financial Statements
			The Business Customer’s Control over Expenses
			Operating Efficiency: Measure of a Business Firm’s Performance Effectiveness
			Marketability of the Customer’s Product or Service
			Coverage Ratios: Measuring the Adequacy of Earnings
			Liquidity Indicators for Business Customers
			Profitability Indicators
			The Financial Leverage Factor as a Barometer of a Business Firm’s Capital Structure
		17–8 Comparing a Business Customer’s Performance to the Performance of Its Industry
			Contingent Liabilities
		17–9 Preparing Statements of Cash Flows from Business Financial Statements
			Pro Forma Statements of Cash Flows and Balance Sheets
			The Loan Officer’s Responsibility to the Lending Institution and the Customer
		17–10 Pricing Business Loans
			The Cost-Plus Loan Pricing Method
			The Price Leadership Model
			Below-Prime Market Pricing
			Customer Profitability Analysis (CPA)
		Summary
		Key Terms
		Problems and Projects
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 17
		Internet Exercises
		S&P Market Insight Challenge
		Selected References
	18 Consumer Loans, Credit Cards, and Real Estate Lending
		Key Topics in This Chapter
		18–1 Introduction
		18–2 Types of Loans Granted to Individuals and Families
			Residential Loans
			Nonresidential Loans
			Credit Card Loans and Revolving Credit
			New Credit Card Regulations
			Debit Cards: A Partial Substitute for Credit Cards?
			Rapid Consumer Loan Growth: Rising Debt-to-Income Ratios
		18–3 Characteristics of Consumer Loans
		18–4 Evaluating a Consumer Loan Application
		18–5 Example of a Consumer Loan Application
		18–6 Credit Scoring Consumer Loan Applications
			The FICO Scoring System
		18–7 Laws and Regulations Applying to Consumer Loans
			Customer Disclosure Requirements
			Outlawing Credit Discrimination
			Predatory Lending and Subprime Loans
		18–8 Real Estate Loans
			Differences between Real Estate Loans and Other Loans
			Factors in Evaluating Applications for Real Estate Loans
			Home Equity Lending
			The Most Controversial of Home Mortgage Loans: Interest-Only and Adjustable Mortgages and the Recent Mortgage Crisis
		18–9 A New Federal Bankruptcy Code as Bankruptcy Filings Soar
		18–10 Pricing Consumer and Real Estate Loans: Determining the Rate of Interest and Other Loan Terms
			The Interest Rate Attached to Nonresidential Consumer Loans
			Interest Rates on Home Mortgage Loans
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 18
		Selected References
PART SEVEN MANAGING THE FUTURE IN A GLOBAL MARKETPLACE
	19 Acquisitions and Mergers in Financial- Services Management
		Key Topics in This Chapter
		19–1 Introduction
		19–2 Mergers on the Rise
		19–3 The Motives behind the Rapid Growth of Financial-Service Mergers
		19–4 Selecting a Suitable Merger Partner
		19–5 The Merger and Acquisition Route to Growth
		19–6 Methods of Consummating Merger Transactions
		19–7 Regulatory Rules for Bank Mergers in the United States
			Justice Department Guidelines
			The Merger Decision-Making Process by U.S. Federal Regulators
		19–8 Merger Rules in Europe and Asia
		19–9 Making a Success of a Merger
		19–10 Research Findings on the Impact of Financial- Service Mergers
			The Financial and Economic Impact of Acquisitions and Mergers
			Public Benefits from Mergers and Acquisitions
		Summary
		Key Terms
		Problems and Projects
		Internet Exercises
		S&P Market Insight Challenge
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 19
		Selected References
	20 International Banking and the Future of Banking and Financial Services
		Key Topics in This Chapter
		20–1 Introduction
		20–2 Types of International Banking Organizations
		20–3 Regulation of International Banking
			Goals of International Banking Regulation
			U.S. Banks’ Activities Abroad
			Expansion and Regulation of Foreign Bank Activity in the United States
			New Capital Regulations for Major Banks Worldwide
		20–4 Services Supplied by Banks in International Markets
			Making Foreign Currencies Available to Customers
			Hedging against Foreign Currency Risk Exposure
			Other Tools for Reducing Currency Risk
			Supplying Customers with Short- and Long-Term Credit or Credit Guarantees
			Supplying Payments and Thrift (Savings) Instruments to International Customers
			Underwriting Customer Note and Bond Issues in the Eurobond Market
			Protecting Customers against Interest Rate Risk
			Helping Customers Market Their Products through Export Trading Companies
		20–5 Challenges for International Banks in Foreign Markets
			Growing Customer Use of Securities Markets to Raise Funds in a More Volatile and Risky World
			Developing Better Methods for Assessing Risk in International Lending
			Adjusting to New Market Opportunities Created by Deregulation and New International Agreements
		20–6 The Future of Banking and Financial Services
		Summary
		Key Terms
		Problems and Projects
		Real Numbers for Real Banks: Continuing Case Assignment for Chapter 20
		Internet Exercises
		S&P Market Insight Challenge
		Selected References
Dictionary of Banking and Financial-Service Terms
Index