1982-11-12 — Page 27

育教僑華真三第張七第二日七廿月九年戌壬

1983

中學會考試題預習專欄

經濟及公共事務

明德出版社

王啓光

【提供資料 -陳勵德

Economic and Public.

Affairs (8)

K.K. Hong & L.T. Chan

DALE:PRESS. LTD

Money and Bonking Central, banks, and

nom^reid banks- their functions aul facilities

1. The functions of central bank T

A central bank is the bank of a government.

up by the government and is non-profit- making. Usually, a

central bank, is the nationalized institution which works with the government to carry out the monetary policy and to promote: the economic develop- ment of the country. Tts functions, can bec summarized as follows: to issur legal tender

Currencies,

Including banknotes

are issus d and coins,

bv the nentral: hank under the supervision

of the govec.ntc.

Since the amount of circulating c currencies

can influence the purchasing power of: the economy, governe went is responsible for adjusting the amount of legal. tender issued by the central bank.

macomplex monetary economy » money serves as a dynamic role in: addition to being medium of exchange Government may regulate the level of money and liquidity in the economy so as to desired achieve Some::

policy objectives such

as the control of

incletian, tha th

in the rose National Product:aid (the)

improvement-of balance

of payments.

to be the banks of government:

"Government revenue. are.usually stored im the central bank and the public expenditure and payments are done through them. A central bank usually keeps the accounts of the government departments.

to be the advisor of rovernment on: financial and policies.

monetary-

-The central bank acts as the advisor of government in all the watters about monetary and banking policiese The central bank, may have an effective management team giving relevant information and suggestions to government so as to solve any rconmaie problems and to hel the economie development.

to keep the cash reserves of private backs

It is a law that all the private banking institutions must deposit a part of their cash reserves the central bank. Accordingly, the central bank

centralizes the cash reserves to protect the security, and control the liquidity of the whole banking.

Whenever there i

necessary.for.the. private banks to Borrow some.money the central bank will back them up by lending them cash funds. If there is any financial crisis occurred in private bank, the central bank is responsible for supporting it as far as possible in order that national economic stability can be maintained,

5. to be a bank of

central clearance,

WAH KIU YAT PO

settlement and transfer

The central hunk is the bankers' tank. It provides the. facilities of clearance of cheques and the transfer of. Tand's amang banks. It. is the place for the hanks to clear their cheques received from their customers and drawn upon other banks. In such a case, mutual indebtedness among the member banks may be cancelled and the amount owned to any banks would be: calculated.

to supervise the operatiSOL

private banks

central takes the res bility to help the gove riment to carry out the banking laws and to see and direct the work done by private banks.

to carry out monetary Policy

The central hauk Pontrols the wote

deposits from and makes, Joans to the

commercial banks and honey market in such a way that it handles the uin tools of sonetary policy in the country, For instan inflation can be tackled by the jonetary authority

control of the through quantity of money which is cirenlating. In addition, the Government can change tium reserve utio the private banks or cliange the discount: rate and the rate of interesty: adjusting. the banking ordinances so as to achieve the goals of monetary policy.

8. to keep gold reserves

and foreign exchange. reserves of the. country

In order to maintain the stability of the external value of the national currency

eystem, the central bank keeps the gold reserves and foreign

報日僑華

五期星

exchange reserves, tà undertake the open

warket operation by law of exchange control.

to offer facilities

to customers as. a commercial bank does

The central bank: also provides general banking services to the customers such as acceptance of deposits loans and advances, remittance and other services.

II. The functions and

facilities provided in coramercial banks

A commercial bank is a profit-making firm operated, by private individuals. It is established for the purpose of secking profits by way of 'offering various. banking laws and ordinances are set up to regulate the working of all commercial banks.

The commercial banks operate branches and directly deal with individual customers. They are operated under the supervision af government or central bank.and play an / active economie rule. Their functious be summarized: as.

follows.

can

to keep money for customers".

Commercial banks provide the services that saving deposits, fixed deposits and demand deposits are accepted. Different rates of interest are applied to various deposits together with the different ways of withdrawing money

to lend money to customers

Loans and advances. are granted to.. commerce and industry în order to earn the reword: of interest on one hand, and promote the industrial and commercial development. on the other. The

loans and advances

include short-term

and long-term loans, advances, overdrafts

日二十月一十年二八九一屦公年一十七國民華中

and discounted bills of exchange. The Government plays the supervisory role to regulate:all depesi意 taking institutions tu create bank credit

Either a central Bank or a commercial bank can bring about. an infereage of equal amount in bank deposits. In other words, when a bank makes an advance to a . customers

re wiethem. by overdraft or loun account, the result is an increase in total purchasing pover.

For example, if a borrower has only a small balance to the credit of his account and he obtäius an. overdraft of $500。 He can draw a cheque for this account and pay it to the creditor. If the creditor deposits it into his own account, the creditor's account:: will have increased by: $500。Intuis case

the borrower's account can only show a debit for this account. In the combined hanksy balance sheet, advances and deposits

have

by $500. If there is any monetary. discrepancy; the central bank should lave, the power to control the expansion of bank: credit. to offer the service of remittance,

Remittance means that

Remittance means that the money is. transferred from one place to another. Imagine that you want to send HK$100 to your friend living in

United States, you can ask for the help of: the Remittance. Depart- ment in any commercial bank.

Pirat of all. the Outward Remittance Department would calculate how many":

US dollars your 100 HK

dollars will buy on the

foreign exchange.

market by referring

to the day's exchange:

rate. If the

rate is

HK$5 for US$1, your IK£100 will buy- 03620, Therefore the bankdraft for US$20.

use Next, you can

mail transfer. That is to say, the bank sends an airmail instruction to.ite brunch in United states to... authorize dud nranchi to pay your friend the sum of the money. If it is very urgent for you to send the amount of money, you can make use of the telegraph transfer although it would be nore expensive.

5% to offer import and

export, facilities

Commercial banks offer a special service called documentary credit to help the promotion of business. It is the rarantee riven by a bank 'that its customer will pay for n

shipment of goods if the correct documents are supplied as evidence that the shipment has been made.

Furthermore, the credit line is the service provided tới aliow a company to ⠀ receive: goods before paying for them..

to provide "other miscellaneong services. to the customers. such as

alkeeping valuables found

customers;

b)providing business

information and guidance;

Joffering monthly

instalment payment loans;

dhelping clients in taxation problems; Jacting as the under-

writiers for new.

executore et "Miki half of the it clients;

gissning of credit

cards;

)providing auto-pay

)selling gift cheques,

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