(The)crisis of American savings & loan associations : a comprehensive analysis

목차 (Table of Contents)

• CONTENTS
• INTRODUCTION = 11
• 1 ENVIRONMENT OF AMERICAN SAVINGS & LOAN ASSOCIATIONS = 15
• 1.1 The components of the American banking system = 15
• 1.1.1 Commercial banks = 16
• 1.1.2 Investment banks = 17
• 1.1.3 Thrift institutions = 17
• 1.1.3.1 Savings & Loan Associations(S&Ls) = 18
• 1.1.3.2 Mutual Savings banks = 19
• 1.1.3.3 Credit Unions = 20
• 1.2 Supervisory authorities and deposit insurance agencies = 23
• 1.2.1 Federal Deposit Insurance Corporation(FDIC) = 24
• 1.2.2 Federal Home Loan Bank System(FHLBS) = 26
• 1.2.2.1 Introduction to the secondary market for mortgage loans = 27
• 1.2.2.2 Federal Savings & Loan Insurance Corporation(FSLIC) = 29
• 1.2.3 State bank departments = 30
• 1.3 Regulation and innovation within the financial system = 31
• 1.3.1 General observations = 31
• 1.3.2 Regulations in the American financial system = 33
• 1.3.3 Forms of financial innovations = 41
• 2 CRISIS OF SAVINGS & LOAN ASSOCIATIONS AND ITS REASONS AND CAUSES = 47
• 2.1 Documentation of the course of events = 47
• 2.2 Reasons and causes for the crisis = 55
• 2.2.1 Deregulation and liberalisation = 55
• 2.2.1.1 Deregulation of the financial sector = 55
• 2.2.1.2 Changes in regulations of the fixing of interest rates = 60
• 2.2.1.3 Development of interest rate levels and its effects on the Savings & Loan Associations = 62
• 2.2.1.4 The influencing of interest rate levels through Savings & Loan Associations = 65
• 2.2.2 Erroneous business practices = 69
• 2.2.2.1 Incongruent refinancing = 69
• 2.2.2.2 Involvement in new areas of business = 72
• 2.2.2.2.1 Development of new areas of business／involvement in high-risk ventures = 72
• 2.2.2.2.2 Investments in Junk bonds = 79
• 2.2.2.3 The granting of state and federal charters for Savings & Loan Associations = 80
• 2.2.2.4 Management consignment program = 82
• 2.2.3 Insurance coverage = 85
• 2.2.4 Changed circumstances／environment = 87
• 2.2.4.1 Innovations to financial instruments in the 1970's = 87
• 2.2.4.2 Investments through／by pension funds and brokers = 88
• 2.2.4.3 Changes in customer behaviour = 90
• 2.2.5 Non-economic factors／causes = 92
• 2.2.5.1 Fraud = 92
• 2.2.6 Influence of the type of organization = 96
• 2.2.7 Government inadequacies = 100
• 2.2.7.1 Assessment of value for insolvent Savings & Loan Associations = 101
• 2.2.7.2 Supervision of Savings & Loan Associations through the FSLIC = 101
• 2.2.7.3 Policies used in closing of Savings & Loan Associations = 108
• 2.2.7.4 Disposition of Savings & Loan Associations／sale of assets = 110
• 2.2.8 Geographical diversity = 113
• 2.2.9 Re-Regulation of the Savings & Loan Associations = 115
• 2.2.10 Real estate crisis = 118
• 3 COMPARISON BETWEEN AMERICAN SAVINGS & LOAN ASSOCIATIONS AND GERMAN MORTGAGE BANKS = 125
• 3.1 Projekt Finance : a comparison between American Savings & Loan Associations and German mortgage banks = 125
• 3.1.1 Project financing through the Savings & Loan Associations = 125
• 3.1.2 Project financing through the German mortgage banks = 127
• 3.2 Mortgage loan types : a comparison between American Savings & Loan Associations and German mortgage banks = 129
• 3.2.1 Mortgage loan types of American Savings & Loan Associations = 129
• 3.2.1.1 Traditional mortgage loans = 129
• 3.2.1.2 New forms of mortgage loans(innovations) = 131
• 3.2.2 Comparison with mortgage loans in the Federal Republic of Germany = 135
• 3.3 Capital Requirements : a comparison between American Savings & Loan Associations and German financial institutions = 136
• 3.3.1 Capital requirements for Savings & Loan Associations in the United States of America = 136
• 3.3.2 Comparison of capital requirements with financial institutions in the Federal Republic of Germany = 139
• 4 PRINCIPAL-AGENT THEORY FOR SOLVING CONFLICT OF INTEREST PROBLEMS BETWEEN SAVINGS & LOAN ASSOCIATIONS AND SUPERVISORY AUTHORITIES／DEPOSIT INSURANCE AGENCIES = 143
• 4.1 Introduction to the Principal-Agent Theory = 143
• 4.2 Application references for the Savings & Loan Associations sector = 149
• CONCLUSION = 161
• ABBREVIATIONS = 169
• BIBLIOGRAPHY = 171