【PPT精品课件】货币金融学7版英文课件--12-大学课件2.pptx

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1、Chapter 12Nonbank Finance 2005 Pearson Education Canada Inc.Market Share of Financial Intermediaries2 2005 Pearson Education Canada Inc.Insurance CompaniesLife Insurance Companies1.Regulated by the OSFI and the Canadian Life and Health Insurance Compensation Corporation(CompCorp)2.Hold illiquid long

2、-term assetsProperty&Casualty Insurance Companies1.Regulated by the OSFI and the Property and Casualty Insurance Compensation Corporation(PACIC)2.Hold more liquid assets3 2005 Pearson Education Canada Inc.Balance Sheet of Life Insurance Companies4 2005 Pearson Education Canada Inc.Balance Sheet of P

3、&C Insurance Companies5 2005 Pearson Education Canada Inc.Insurance Management1.Screening2.Risk-based premiums3.Restrictive provisions4.Prevention of fraud5.Cancellation of insurance6.Deductibles7.Coinsurance8.Limits on amounts of insurance6 2005 Pearson Education Canada Inc.Other InstitutionsPensio

4、n Funds1.Rapid growth:encouraged by tax policy2.Bigger role in stock market3.Problem of underfunding4.Private plans5.Public plansA.Social SecurityB.CPP and QPPFinance Companies1.Minimal regulation by provinces2.Rapid growth3.Three types:A.Sales finance companiesB.Consumer finance companiesC.Business

5、 finance companies7 2005 Pearson Education Canada Inc.Balance Sheet of Non-Depository Credit Intermediaries8 2005 Pearson Education Canada Inc.Other InstitutionsMutual Funds1.Regulated by a variety of agencies,including the OSFI2.Open-end vs.closed-end3.Load vs no-load4.Money Market Mutual FundsGove

6、rnment Financial Intermediation1.Crown Finance Companies:CMHC,FCC,EDC,BDC2.Moral hazard problem of government loan guaranteesSecurities Market Institutions1.Investment Banks2.Securities Brokers and Dealers3.Organized Exchanges4.All are regulated by provincial securities commissions9 2005 Pearson Education Canada Inc.