第二章商業(yè)銀行經(jīng)營(yíng)評(píng)價(jià)BalanceSheetIncomeStatementRelationshipbetweenBalanceSheetandIncomeStatementReturnonEquityModel股份制商業(yè)銀行風(fēng)險(xiǎn)評(píng)級(jí)體系(04年2月22日)PerformanceCharacteristicsofDifferent-sizedBanks第一頁(yè)，共六十九頁(yè)。BalanceSheetItisastatementoffinancialpositionlistingassetsowned,liabilitiesowed,andowner’sequityasofaspecificdate.Assets=Liabilities+Equity.Balancesheetfiguresarecalculatedataparticularpointintimeandthusrepresentstockvalues.第二頁(yè)，共六十九頁(yè)。ChinaBigFourBanks(12/31/2002)v.s.

AllUSBanks(12/31/2002)Asset(%)Liabilities(%)CNUSCNUSLoans60.261.4Deposits81.465.8Investments6.623.1Borrowings14.927.2Cash24.89.1Other8.47.4Capital3.87.1Total100100Total100100第三頁(yè)，共六十九頁(yè)。PNCBank(12/31/2000,TA:63bn)v.s.

CommunityNationalBank(12/31/00,TA:0.1bn)Asset(%)Liabilities(%)PNCCNBPNCCNBLoans78.064.9Deposits72.891.7Investments8.725.6Borrowings18.91.0Cash5.65.7Other7.73.9Capital8.37.3Total100100Total100100第四頁(yè)，共六十九頁(yè)。BankAssets:LoansLoansarethemajorassetinmostbanks’portfoliosandgeneratethegreatestamountofincomebeforeexpensesandtaxes.Theyalsoexhibitthehighestdefaultriskandarerelativelyilliquid.第五頁(yè)，共六十九頁(yè)。Loans:CategoriesRealestateloansCommercialloansLoanstoindividualsAgriculturalloansOtherloansindomesticofficesLoansandleasesinforeignofficesThreeadjustmentsLeases;Unearnedincome;Lossallowance第六頁(yè)，共六十九頁(yè)。PNCandCNB:Loanportfolio(2000)PNCCNBRealestate37.037.0Commercial28.819.4Individuals5.64.3Agricultural0.00Domesticother7.34.7International0.50Unearnedincome-0.20Lossallowance-1.0-0.5Total78.064.9第七頁(yè)，共六十九頁(yè)。BankAssets:InvestmentsecuritiesInvestmentsecuritiesareheldtoearninterest,helpmeetliquidityneedsspeculateoninterestratemovementsserveaspartofabank’sdealerfunctions.Theadministrationandtransactioncostsareextremelylow.第八頁(yè)，共六十九頁(yè)。BankAssets:InvestmentsecuritiesShort-terminvestmentsInterest-bearingbankbalances(depositsduefromotherbanks)federalfundssoldsecuritiespurchasedunderagreementtoresell(RPs)TreasurybillsmunicipaltaxwarrantsLong-terminvestment:notesandbondsTreasurysecuritiesObligationsoffederalagenciesMortgage-backed,foreign,andcorporate第九頁(yè)，共六十九頁(yè)。BankAssets:

NoninterestcashandduefrombanksItconsistsofvaultcash,depositsheldatFederalReserveBanksdepositsheldatotherfinancialinstitutionscashitemsintheprocessofcollectionTheseassetsareheldtomeetcustomerwithdrawalneedsmeetlegalreserverequirementsassistincheckclearingandwiretransferseffectthepurchaseandsaleofTreasurysecurities第十頁(yè)，共六十九頁(yè)。BankAssets:OtherassetsOtherassetsareresidualassetsofrelativelysmallmagnitudessuchasbankersacceptancespremisesandequipmentotherrealestateownedandothersmalleramounts第十一頁(yè)，共六十九頁(yè)。BankLiabilitiesThecharacteristicsofvariousdebtinstrumentsdifferintermsofcheck-writingcapabilitiesinterestpaidmaturitywhethertheycarryFDICinsurancewhethertheycanbetradedinthesecondarymarket.第十二頁(yè)，共六十九頁(yè)。Bankliabilities:DepositsDemanddepositstransactionsaccountsthatpaynointerestNegotiableordersofwithdrawal(NOWs)andautomatictransfersfromsavings(ATS)accountspayinterestsetbyeachbankwithoutfederalrestrictionsMoneymarketdepositaccounts(MMDAs)paymarketrates,butacustomerislimitedtonomorethansixchecksorautomatictransferseachmonth第十三頁(yè)，共六十九頁(yè)。Bankliabilities:DepositsTwogeneraltimedepositscategoriesexist:Timedepositsinexcessof$100,000,labeledjumbocertificatesofdeposit(CDs).SmallCDs,consideredcoredepositswhichtendtobestabledepositsthataretypicallynotwithdrawnovershortperiodsoftime.DepositsheldinforeignofficesbalancesissuedbyabanksubsidiarylocatedoutsidetheU.S.第十四頁(yè)，共六十九頁(yè)。CoredopositsCoredepositsarestabledepositsthatarenothighlyinterestrate-sensitive.Coredepositsaremoresensitivetothefeescharged,servicesrendered,andlocationofthebank.Coredepositsinclude:demanddeposits,NOWaccounts,MMDAs,andsmalltimedeposits.第十五頁(yè)，共六十九頁(yè)。Borrowings(volatilefunds)Large,orvolatile,borrowingsareliabilitiesthatarehighlyrate-sensitive.Normallyissuedinuninsureddenominations.Theirabilitytoborrowissensitivetothemarketsperceptionoftheirassetquality.Volatileliabilitiesornetnon-coreliabilitiesinclude:largeCDs(over100,000)depositsinforeignofficesfederalfundspurchasedrepurchaseagreementsotherborrowingswithmaturitieslessthanoneyear第十六頁(yè)，共六十九頁(yè)。Capital:

SubordinatednotesanddebenturesNotesandbondswithmaturitiesinexcessofoneyear.Long-termuninsureddebt.Mostmeetrequirementsasbankcapitalforregulatorypurposes.Unlikedeposits,thedebtisnotfederallyinsuredandclaimsofbondholdersaresubordinatedtoclaimsofdepositors.第十七頁(yè)，共六十九頁(yè)。Capital:Stockholders'equityOwnershipinterestinthebank.CommonandpreferredstockarelistedatparSurplusaccountrepresentstheamountofproceedsreceivedbythebankinexcessofparwhenitissuedthestock.第十八頁(yè)，共六十九頁(yè)。IncomeStatementItisafinancialstatementshowingasummaryofafirm’sfinancialoperationsforaspecificperiod,includingnetprofitorlossfortheperiodinquestion.Abank’sincomestatementreflectsthefinancialnatureofbanking,asinterestonloansandinvestmentscomprisesthebulkofrevenue.Netinterestincomemadeupapproximately77percentofnetrevenueatabankin1981,butonlyabout58percentoftotalnetrevenueattheendof2001.第十九頁(yè)，共六十九頁(yè)。TheIncomestatement+ Interestincome(II)- Interestexpense(IE)= NetinterestIncome(NII)+ Noninterestincome(OI)- Noninterestexpense(OE)- Loan-lossprovisions(PLL)= Operatingincomebeforesecuritiestransactionsandtaxes +(-) Realizedgainsorlosses= Pretaxnetoperatingincome- Taxes = Netincome =burden第二十頁(yè)，共六十九頁(yè)。Interestincome…thesumofinterestandfeesearnedonallofabank'sassets.…

Interestincomeincludesinterestfrom:LoansDepositsheldatotherinstitutionsMunicipalandtaxablesecuritiesInvestmentandtradingaccountsecurities第二十一頁(yè)，共六十九頁(yè)。Interestexpense….thesumofinterestpaidonallinterest-bearingliabilities….Itincludesinterestpaidtotransactionsaccounts(NOW,ATS,andMMDA)timeandsavingsdepositsshort-termnon-coreliabilitieslong-termdebtInterestincomelessinterestexpenseis

netinterestincome(NII)第二十二頁(yè)，共六十九頁(yè)。NoninterestincomeTrustorfiduciaryincomereflectswhatabankearnsfromoperatingatrustdepartmentFeesanddepositservicechargesreflectchargesoncheckingaccountactivity,safe-depositboxes,andmanyothertransactions.TradingrevenuesreflectcommissionsandprofitsorgainsfromoperatingatradingaccountOtherforeigntransactionsOthernoninterestincome第二十三頁(yè)，共六十九頁(yè)。NoninterestexpensePersonnelexpense:SalariesandfringebenefitspaidtobankemployeesOccupancyexpense:RentanddepreciationonequipmentandpremisesOtheroperatingexpenses:UtilitiesandDepositinsurancepremiums第二十四頁(yè)，共六十九頁(yè)。Loan-lossprovisions(PLL)Representmanagement'sestimateofpotentiallostrevenuefrombadloans.Itissubtractedfromnetinterestincomeinrecognitionthatsomeofthereportedinterestincomeoverstateswhatwillactuallybereceivedwhensomeoftheloansgointodefault.Charge-offsindicateloansthatabankformallyrecognizesasuncollectableandcharges-offagainstthelossreserve.第二十五頁(yè)，共六十九頁(yè)。第二十六頁(yè)，共六十九頁(yè)。Incomestatement:PNC&CNB,2000+ Interestincome(II) 72%&92%- Interestexpense(IE) 38%&27%= NetinterestIncome(NII)+ Noninterestincome(OI) 27%&8%- Noninterestexpense(OE) 35%&46%- Loan-lossprovisions(PLL) 2.1%&1.7%= Operatingincomebeforesecuritiestransactionsandtaxes +(-) Realizedgainsorlosses 0.3%&0%= Pretaxnetoperatingincome- Taxes 8.5%&8.6%= Netincome 16.3%&16.0%第二十七頁(yè)，共六十九頁(yè)。Realizedsecuritiesgains(orlosses)Theyarisewhenabanksellssecuritiesfromitsinvestmentportfolioatpricesabove(orbelow)theinitialoramortizedcosttothebank.Generally,securitieschangeinvalueasinterestrateschange,butthegainsorlossesareunrealized(meaningthatthebankhasnotsoldthesecuritiestocapturethechangeinvalue).第二十八頁(yè)，共六十九頁(yè)。RelationshipbetweenbalancesheetandincomestatementThecompositionofassetsandliabilitiesandtherelationshipsbetweendifferentinterestratesdeterminenetinterestincome.Themixofdepositsbetweenconsumerandcommercialcustomersaffectstheservicesprovidedandthusthemagnitudeofnoninterestincomeandnoninterestexpense.Theownershipofnonbanksubsidiariesincreasesfeeincomebutoftenraisesnoninterestexpense.第二十九頁(yè)，共六十九頁(yè)。Relationshipbetweenbalancesheet

andincomestatementExpensesandloanlossesdirectlyeffectthebalancesheet.Thegreaterthesizeofloanportfolio,thegreaterisoperatingoverheadandPLL.Consumerloansareusuallysmallerandhencemoreexpensive(non-interest)perdollarofloans.第三十頁(yè)，共六十九頁(yè)。Returnonequity(ROE=NI/TE)

…thebasicmeasureofstockholders’returnsROEiscomposedoftwoparts:ReturnonAssets(ROA=NI/TA)representsthereturnstotheassetsthebankhasinvestedin.EquityMultiplier(EM=TA/TE)thedegreeoffinancialleverageemployedbythebank.第三十一頁(yè)，共六十九頁(yè)。Returnonassets(ROA=NI/TA)

…canbedecomposedintotwoparts:

Assetutilization(AU)→incomegeneration

Expenseratio(ER)→expensecontrolROA = AU－ER

=(TR/TA)－(TE/TA)TR =totalrevenueortotaloperatingincome

=Int.inc.+non-int.inc.+SG(L)TE =totalexpenses

=Int.exp.+non-int.exp.+PLL+Taxes第三十二頁(yè)，共六十九頁(yè)。第三十三頁(yè)，共六十九頁(yè)。Assetutilization(AU=TR/TA):

…theabilitytogenerateincome.InterestIncome/TAAssetyields(rate)Interestincomeasset(i)/$amountofasset(i)Compositionofassets(mix)$amountasset(i)/TAVolumeofEarningAssetsEarningassets/TANoninterestincome/TAFeesandServiceChargesSecuritiesGains(Losses)Otherincome第三十四頁(yè)，共六十九頁(yè)。Expenseratio(ER=Exp/TA)

…theabilitytocontrolexpenses.Interestexpense/TACostperliability(rate)Int.exp.liab.(j)/$amt.liab.(j)Compositionofliabilities$amt.ofliab.(j)/TAVolumeofdebtandequityNon-interestexpenses/TASalariesandemployeebenefits/TAOccupancyexpenses/TAOtheroperatingexpense/TAProvisionsforloanlosses/TATaxes/TA第三十五頁(yè)，共六十九頁(yè)。OtheraggregateprofitabilitymeasuresNetinterestmarginNIM=NII/earningassets(EA)SpreadSpread=(intinc/EA)-(intexp/intbear.Liab.)EarningsbaseEB=EA/TABurden/TA(Noninterestexp.-Noninterestincome)/TAEfficiencyratioNonint.Exp./(Netint.Inc.+Nonint.Inc.)第三十六頁(yè)，共六十九頁(yè)。Financialratios…PNC,2000ROE:NetIncome/AverageTotalequity18.9%ROA:NetIncome/AvgTA1.5%AU:TotalRevenue/AvgTA9.2%ER:Totalexpenses(lessTaxes)/AvgTA7.0%Memo:PM:NetIncome/TotalRevenue16.2%EM:Avg.TA/Avg,TotalEquity12.6xEB:EarningAssets/AvgTA87.0%NIM:Netinterestmargin3.6%Spread3.1%EfficiencyR