BFF2401 Lecture Notes - Lecture 1: Securitization, Friendly Society, Building Society
Document Summary
Topic 1: introduction to commercial banking and finance. Lecture 1 outline: overview of the australian financial system and banking system, specialness of financial institutions, changing dynamics of specialness, bank motivation, major developments in australian banking. Overview of the australian financial system and banking system. The role of the financial system is to facilitate financial transactions through the creation, sale and transfer of financial assets. Its three components include: financial institutions financial markets . Financial system institutions: reserve bank of australia (rba) (also known as the central bank in other countries, they are responsible for macroeconomic policies -> change in cash. Rate etc: authorised deposit-taking institutions (adis, banks, building societies & credit unions. Financial corporations act institutions: money market corporations, finance companies, general financiers, Life offices and superannuation companies: other managed funds, cash management trusts, friendly societies, unit trusts, other financial institutions, general insurers, securitisation vehicles.
