By Charles R. Geisst (auth.)
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Additional info for A Guide to Financial Institutions
But before looking at some of the more contemporary problems of commercial banks, their major functions will be examined. GENERAL FUNCTIONS On the broadest level, the functions of commercial banks will vary depending upon the nature of the economy in which they operate. In some small economies, commercial banks perform functions normally associated with governmental agencies in larger, industrialised countries, such as the issuance of currency. But for the most part, the role of commercial banks tends to follow general lines although the means by which they accomplish them can be done through different sorts of products, or financial packaging.
For every unit of currency a bank takes in on deposit, a specific percentage must be held back in reserve. So the bank is not effectively able to lend out the same amount. The net cumulative effect is to ensure that cash is on hand to satisfy any potential demand for funds. As mentioned earlier, if the requirement is set at 10 per cent, $90 of a $100 deposit is free to be placed on loan. 67 (1/10 as opposed to 1/15). The banks could previously lend $90 under the 10 per cent requirement; now they may lend out only $85.
As mentioned earlier, if the requirement is set at 10 per cent, $90 of a $100 deposit is free to be placed on loan. 67 (1/10 as opposed to 1/15). The banks could previously lend $90 under the 10 per cent requirement; now they may lend out only $85. Through this control, the availability of credit will diminish. This simple explanation does not explain the interest rate implications of the rise in requirements, however. If reserve requirements are increased, interest rates will rise with them. The interest rate implication of such a move is found in the amount of funds now available for lending.
A Guide to Financial Institutions by Charles R. Geisst (auth.)