总结lecture

总结lecture...

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Unformatted text preview: Semester Topics 1 The Wrap What is a bank ? Why ASK? Instead it is an offence if a person carries on the business of banking unless they are a body corporate (company) s. 7 Banking Act 1959 (Cth) (BA) And only an ADI or the RBA can carry on the business of banking s 8 BA ADI defined as an authorised deposit-taking institution S. 5 BA What in the heck is meant by banking business? 2 The Wrap A bank is.... A body corporate that is an ADI authorised by APRA to carry on the business of banking and may or be permitted to call itself a bank, or if not it is an Non-bank Financial Institution (NBFI)? NICE...... Just one small problem...... 3 The Wrap Bank/Customer Relationship Banking business mean ? Commissioners of the State Savings Bank of Victoria v Permewan Wright & Co Ltd (1914) 19 CLR 457 . The essential characteristics of the business of banking may be described as collection of money by taking deposits upon loan; deposits repayable when agreed [expressly or impliedly]; the deposits are then used by the bank to lend to 4 The Wrap Bank/Customer Relationship It is in effect a financial reservoir receiving streams of currency in every direction, and from which there issue out flowing streams where and as required .. per Issacs J, Commissioners of the State Savings Bank of Victoria v Permewan Wright & Co Ltd (1914) 19 CLR 457 AA cited in Tyree p. 68. 5 The Wrap Bank/Customer Relationship. Account. Not conclusive proof, see; Woods v Martin Bank Ltd [1958] 3 All ER 166. W asked bank for investment advice. Brocks Refrigeration Ltd, a customer of bank. 9 May W bought shares in co. 1 June account opened. Salmon J held a customer since 9 May. The manager gave advice 6 The Wrap Introduction The Wrap 7 The importance of the finance sector to the economy: A$78 billion contributed to the GDP. The financial system provides Australias financial arteries. It performs the essential function of channelling savings to the most profitable investment opportunities and reallocating risks to those willing to bear them.. A stable and smooth .. financial system is crucial to macroeconomic stability and economic growth. Dr John Laker (former Assistant Governor of the Reserve Bank & former Chairman of APRA Once started on the deregulation path, it is hard to get off. (BW Fraser former governor of the RBA, 1985, RBA Bulletin , Regulatory Regime ASIC - Consumer protection- Market protection RBA- Monetary policy- Systemic stability- Payment system APRA- APRA Act 1998- Prudential regulation of Banks, insurance and super- Power to issue/revoke banking licenses - Power to make prudential standards- Power to have regulations made under Banking Act- Power to issue enforceable directions- Power to windup ADIs The Wrap 8 Introduction to the Regulatory...
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总结lecture...

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