At the present stage of development

At the present stage of development "of the international banking system can be divided into two main types of organization of the banking system in developed countries: - Credit system with the central bank - Credit system with the Federal Reserve. The status of the U.S. dollar as global reserve currency within fifty years after the signing of the Bretton Woods agreement gave the U.S. a big advantage. The presence in the developed countries of Europe fragmented system of central state-owned banks, each of which has issued its own currency, the European banking system was very difficult to compete with the U.S. Federal Reserve. In terms of economy, Canada is one of seven major industrialized countries. According to estimates of the Association of Canadian banks (Bank), Canada has one of the most efficient and reliable banking systems in the world. UK banking statistics divides all financial institutions into two groups: the actual banking and nonbank financial institutions. Bank of England has formal independence from the government, while working under the guidance of the Ministry of Finance. U.S. banking system was formed under the influence of multiple utochnyuvanogo Law of the Federal Reserve Act and the deregulation of depository institutions and monetary control (DIDMCA), adopted in 1980, the core of the monetary and banking system of the United States became the Board of Governors of the Federal Reserve System. The Federal Reserve - an independent organization. It can not be revoked at the whim of the president, Congress also can not change its role and functions only as a special legislative act. Long terms of office of members of the Board provide an opportunity to protect and insulate them from political pressure. Another important component of the U.S. banking system - it's 12 Federal Reserve banks, which are central banks, the banks and the banks kvaziobschestvennymi banks. Thus, in the U.S. 12 "central banks". The basis of the U.S. financial system is about 13 800 of its commercial banks. Approximately two thirds of them - banks state, ie private banks operating in accordance with the charter of the state. The last third gets the charter from the federal government, these banks are national. Banks perform a critical role in the mechanism of market economy. With their help, by the flow of capital into the most profitable sectors and regions, which contributes to the economic, social and technological advancement of society. As the concentration and centralization of industrial capital is the concentration and centralization of bank capital, which significantly changes the role of banks in the economy. With the paying agent banks become monopolists, capable of playing a qualitatively new role. Banking monopoly, putting a significant portion of capital into the real economy, gradually spliced ​​with industrial capital (through their interpenetration with the industrial monopolies) to control the use of funds. Investment banking is activated faster than its accounting and loan operations. Banks become direct participants in the production, co-owners of commercial and industrial corporations. This is the process: in addition to the introduction of bank capital into industrial capital develops a counter-process - the introduction of commercial and industrial monopolies in banking. Topic: Banking System