What is "Offices of Bank Holding Companies" be a sign of?
Is anybody can explain the description of "Offices of Bank Holding Companies"?
Thank you.
Answers:
http://www.opinion poll.gov/epcd/naics02/def/n...
Offices of Bank Holding Companies
This U.S. industry comprises legalized entities set as mound holding companies primarily out of stock within holding the securities of (or other equity interests in) companies and enterprise for the purpose of owning a controlling interest or influencing the direction decision of these firms. The holding companies here industry do not administer, oversee, and muddle through other establishments of the company or enterprise whose securities they hold.
http://www.answers.com/topic/offices-of-...
ORGANIZATION AND STRUCTURE
Bank holding companies are essentially corporations whose assets are comprised of controlling shares of stock in one or more bank. The two principal types of companies are "one-bank" and "multibank" holding companies, which together encompass nearly adjectives sizeable bank. Although the majority of wall holding companies in the United States are classified as "one-bank" holding companies, most of these companies be organized to directly operate a ridge, and are not, that`s why, included in the ridge holding company industry. The multibank corporations that receive up the industry exercise varying degree of control over the subsidiaries they own.
MBHCs earn money by increasing the area, diversity, and usefulness of bank and dune branches. Banks and their branches, contained by turn, earn money by paying interest at rates lower than that charged on loans. Banks also generate revenue from such services as asset regulation, investment sale, and mortgage loan upkeep. Because of regulatory constraints, bank not associated near holding companies must operate below restrictions that normally put them at a disadvantage compared to other financial institutions.
To overcome regulatory restraints, bank commonly use holding companies to circumvent court restrictions and to incline assets by otherwise off limits technique. For instance, oodles bank can indirectly operate branches in other states by organize their entity as a holding company. Banks are also competent to enter and repeatedly effectively compete within related industries through holding company subsidiaries. In PS, holding companies are competent to put on a pedestal wherewithal using methods that bank are restricted from practicing, such as issuing commercial tabloid.
Another far-reaching lead that MBHCs enjoy over individual bank is economy of ascend. Many subsidiary bank benefit from effective efficiencies such as centralized and computerized bookkeeping, auditing, exposure, marketing, purchasing of supplies, research, personnel enlistment, group insurance and retirement programs, levy guidance, investment counseling, and other advisory services. In postscript to greater access to assets, holding companies also facilitate mobility of money among their subsidiaries and allow them to spread gain and losses over adjectives member of the holding corporation.
CURRENT CONDITIONS
In 2003, three holding companies dominated the industry: Citigroup, Inc., Bank of America, and J.P. Morgan Chase. These companies, and their low-grade counterparts, be significantly artificial by the repeal of the Glass-Steagall Act, which lead to the acceleration of commercial and investment bank's commingled existence. The bank be significantly interested in their clean flair to leverage low-margin lend into the much more profitable fee-based businesses, such as underwrite shares. According to the Economist (U.S.), "For the most section, the industry leaders today are no longer bank, but financial-services companies. Their endeavours extend far beyond traditional commercial-banking tasks such as taking in reserves and making loans. Many in a minute rivet within investment-banking happenings such as underwrite bond and equity issues, advise on mergers and acquisition and, crucially, selling on loans to other investors (by organising syndicates, buying credit derivatives that pay cheque out surrounded by the event of a defaulting or issuing securities bundling loans together)."
The plunge by U.S. bank institutions into investment-based services be not minus pitfalls, beside giant Citigroup and J.P. Morgan Chase both stumbling. In 2003 Citigroup announced charge-offs of more than $1 billion related to allegations of irregularities in the pricing of initial public offerings. J.P. Morgan Chase also reported a charge-off more than $1 billion related to the company's communication beside the liquidation of energy-giant Enron within postponed 2001. The bust of the dot-com industry also adversely artificial the industry.
The standard under the weather form of the U.S. reduction darkened the skies for the bank industry in the untimely 2000s. A mild recession begin within March 2001, but be catapult into through monetary worries by the terrorist attacks of September 11. According to the Federal Reserve, commercial and industrial loans dropped by 10 percent—$113 billion—between March 2001 and August 2002. The financial turndown lead to opening layoffs, stock bazaar chagrin, and a slew of discouraging debts. Many of the bank industry's adventures into investment services be, surrounded by observation, in poor health advise.
Despite frail monetary conditions, the moribund stock exchange, and a long record of skint clients, the bank industry still remained solid on the foundations of its deposit-taking and lend services. Margins be strong during 2002, beside bank charging more for its loan services than the costs incurred to fund the loans. Earnings for 2002 be on stride to top a transcript $80 billion, near masses bank companies posting double-digit gain.
INDUSTRY LEADERS
Citibank, a subsidiary of Citigroup—the world's second largest financial services institution (behind Japan's Mizuho Financial) and the first U.S. bank to surpass $1 trillion in assets—is itself the world's second largest consumer and corporate bank institution. Citbank have something like 1,700 bureau within 40 countries, beside approximately 700 located contained by the United States. In 2002, parent Citigroup reported a web income of $15.3 billion on revenues of $92.6 billion.
J.P. Morgan Chase, the nation's second largest bank system, is the result of a 2001 merger of Chase Manhattan, a retail bank powerhouse, and J.P. Morgan, an investment hill. J.P. Morgan Chase reported total assets of $712.5 billion within 2001. In 2002 the company reported a web income of $1.7 billion on $43.4 billion in revenues.
After a $43 billion merger in 1998, Bank of America Corporation (resulting from the combination of Bank-America and NationsBank) emerge as the industry ruler. Bank of America be, as a result of the merger, situated within locations general. The company included 11,500 branches in almost adjectives of the 50 states and within 40 countries. In 2002 Bank of America have sale of $46.4 billion, resulting in a lattice income of $9.2 billion. Bank of America come contained by astern Citigroup and J.P. Morgan Chase beside total assets of $619.9 trillion.
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Thank you.
Answers:
http://www.opinion poll.gov/epcd/naics02/def/n...
Offices of Bank Holding Companies
This U.S. industry comprises legalized entities set as mound holding companies primarily out of stock within holding the securities of (or other equity interests in) companies and enterprise for the purpose of owning a controlling interest or influencing the direction decision of these firms. The holding companies here industry do not administer, oversee, and muddle through other establishments of the company or enterprise whose securities they hold.
http://www.answers.com/topic/offices-of-...
ORGANIZATION AND STRUCTURE
Bank holding companies are essentially corporations whose assets are comprised of controlling shares of stock in one or more bank. The two principal types of companies are "one-bank" and "multibank" holding companies, which together encompass nearly adjectives sizeable bank. Although the majority of wall holding companies in the United States are classified as "one-bank" holding companies, most of these companies be organized to directly operate a ridge, and are not, that`s why, included in the ridge holding company industry. The multibank corporations that receive up the industry exercise varying degree of control over the subsidiaries they own.
MBHCs earn money by increasing the area, diversity, and usefulness of bank and dune branches. Banks and their branches, contained by turn, earn money by paying interest at rates lower than that charged on loans. Banks also generate revenue from such services as asset regulation, investment sale, and mortgage loan upkeep. Because of regulatory constraints, bank not associated near holding companies must operate below restrictions that normally put them at a disadvantage compared to other financial institutions.
To overcome regulatory restraints, bank commonly use holding companies to circumvent court restrictions and to incline assets by otherwise off limits technique. For instance, oodles bank can indirectly operate branches in other states by organize their entity as a holding company. Banks are also competent to enter and repeatedly effectively compete within related industries through holding company subsidiaries. In PS, holding companies are competent to put on a pedestal wherewithal using methods that bank are restricted from practicing, such as issuing commercial tabloid.
Another far-reaching lead that MBHCs enjoy over individual bank is economy of ascend. Many subsidiary bank benefit from effective efficiencies such as centralized and computerized bookkeeping, auditing, exposure, marketing, purchasing of supplies, research, personnel enlistment, group insurance and retirement programs, levy guidance, investment counseling, and other advisory services. In postscript to greater access to assets, holding companies also facilitate mobility of money among their subsidiaries and allow them to spread gain and losses over adjectives member of the holding corporation.
CURRENT CONDITIONS
In 2003, three holding companies dominated the industry: Citigroup, Inc., Bank of America, and J.P. Morgan Chase. These companies, and their low-grade counterparts, be significantly artificial by the repeal of the Glass-Steagall Act, which lead to the acceleration of commercial and investment bank's commingled existence. The bank be significantly interested in their clean flair to leverage low-margin lend into the much more profitable fee-based businesses, such as underwrite shares. According to the Economist (U.S.), "For the most section, the industry leaders today are no longer bank, but financial-services companies. Their endeavours extend far beyond traditional commercial-banking tasks such as taking in reserves and making loans. Many in a minute rivet within investment-banking happenings such as underwrite bond and equity issues, advise on mergers and acquisition and, crucially, selling on loans to other investors (by organising syndicates, buying credit derivatives that pay cheque out surrounded by the event of a defaulting or issuing securities bundling loans together)."
The plunge by U.S. bank institutions into investment-based services be not minus pitfalls, beside giant Citigroup and J.P. Morgan Chase both stumbling. In 2003 Citigroup announced charge-offs of more than $1 billion related to allegations of irregularities in the pricing of initial public offerings. J.P. Morgan Chase also reported a charge-off more than $1 billion related to the company's communication beside the liquidation of energy-giant Enron within postponed 2001. The bust of the dot-com industry also adversely artificial the industry.
The standard under the weather form of the U.S. reduction darkened the skies for the bank industry in the untimely 2000s. A mild recession begin within March 2001, but be catapult into through monetary worries by the terrorist attacks of September 11. According to the Federal Reserve, commercial and industrial loans dropped by 10 percent—$113 billion—between March 2001 and August 2002. The financial turndown lead to opening layoffs, stock bazaar chagrin, and a slew of discouraging debts. Many of the bank industry's adventures into investment services be, surrounded by observation, in poor health advise.
Despite frail monetary conditions, the moribund stock exchange, and a long record of skint clients, the bank industry still remained solid on the foundations of its deposit-taking and lend services. Margins be strong during 2002, beside bank charging more for its loan services than the costs incurred to fund the loans. Earnings for 2002 be on stride to top a transcript $80 billion, near masses bank companies posting double-digit gain.
INDUSTRY LEADERS
Citibank, a subsidiary of Citigroup—the world's second largest financial services institution (behind Japan's Mizuho Financial) and the first U.S. bank to surpass $1 trillion in assets—is itself the world's second largest consumer and corporate bank institution. Citbank have something like 1,700 bureau within 40 countries, beside approximately 700 located contained by the United States. In 2002, parent Citigroup reported a web income of $15.3 billion on revenues of $92.6 billion.
J.P. Morgan Chase, the nation's second largest bank system, is the result of a 2001 merger of Chase Manhattan, a retail bank powerhouse, and J.P. Morgan, an investment hill. J.P. Morgan Chase reported total assets of $712.5 billion within 2001. In 2002 the company reported a web income of $1.7 billion on $43.4 billion in revenues.
After a $43 billion merger in 1998, Bank of America Corporation (resulting from the combination of Bank-America and NationsBank) emerge as the industry ruler. Bank of America be, as a result of the merger, situated within locations general. The company included 11,500 branches in almost adjectives of the 50 states and within 40 countries. In 2002 Bank of America have sale of $46.4 billion, resulting in a lattice income of $9.2 billion. Bank of America come contained by astern Citigroup and J.P. Morgan Chase beside total assets of $619.9 trillion.