Banking. Savings banks and their operations (Western model) (lecture notes)

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Banking. Savings banks and their operations (Western model) (lecture notes)

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Savings banks and their operations (Western model)

In the UK, two types of savings banks have historically developed: trust savings banks and the National Savings NPO NSB) - the largest savings bank. It opens two types of accounts: ordinary and investment. Withdrawal of funds from the account (up to £20) can be carried out at any post office at the first request of the client (larger amounts are withdrawn upon prior notice several days in advance). Investment accounts earn higher interest than regular accounts. The client has the right to open an investment account only if he has a deposit in a regular account in the amount of at least 50l. Art. Withdrawal of the deposit is carried out with a mandatory notification one month in advance. NSB account balances are used to invest in government securities.

Trust Savings Banks are local banks established in most small towns and serving each specific area, therefore, these banks do not compete with each other and are more like savings banks than banks, despite the recent expansion of banking operations. The main type of service is the opening of several types of accounts (regular, special investment current), the mode of maintaining which is somewhat different from maintaining similar accounts with the NSB (accounts are opened for one depositor in only one bank, but you can close it and receive the amount due in any of the banks and etc.). Trust banks also take part in the implementation of the UK's special system for mobilizing public funds for recipients of small incomes. These banks are also allowed to lend to corporations and individual borrowers.

In France, the savings business is represented by a network of postal savings banks and a network of savings banks, the main operations of which are the provision of loans for housing construction, stimulated by the state with the help of subsidies, and consumer needs. Lending to individuals is carried out using the "loan after accumulation" method. The leading role in the structure of savings banks is occupied by the National Center for Savings Banks, whose functions include representing the interests of savings banks in relations with the treasury, commercial and foreign banks, managing subsidiaries, managing the structure of savings banks, and monitoring the activities of local savings banks.

The main means of payment used by savings banks are checkbooks and credit cards.

The flexible structure of investments allows the state to pursue a unified strategy in the field of interest rate policy, monetary circulation and social protection of the interests of the least well-to-do part of the population, while maintaining the independence of the savings bank maneuver in the development of operations with the clientele.

In Germany, savings banks are mainly state-owned and they account for most of the assets in the state's credit system. The main passive operations are the attraction of savings from the population, active operations are mainly the issuance of long-term mortgage and utility loans.

Author: Shevchuk D.A.

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