| The commercial banks have come to be the most important financial institutions in our economic life and play a more and more important role in financial system with its enormous amounts of capital and lots of branches all over the world. Different from other non-banking financial institutions, commercial banks are running special commodities——currency business, being the media of financing and payment. From 1980s to 1990s, it is a period of dramatic transition for the commercial banking system. The trend of financial liberalization, global economy integration has been enhanced. The welling up of financial innovation made the investment banks, funds, and other non-bank financial institutions have more and more important status in financial market and blur the boundary between bank business and non-bank business. The advantage of traditional commercial banking business has disappeared, and the profit became lessened. To survive, some commercial banks have gone beyond the traditional business concepts and restriction to expand their service areas to securities, insurance, trust, lease and so on. Today, separated operation and mixed operation are still the argumentative focus in financial area. Whereas more and more cases of financial reform make clear that mixed operation is the worldwide trend. China is in a very period of deepening the financial reform, and the reform of commercial bank, which involve everybody' interest directly, will also bring great influence to the whole society. We still carry the separated operation system in our commercial banks currently; however, it doesn't indicate the trend. Viewed from the changing course of western developed countries' banking operation system, we know that the integration of financial business is unavoidable since we are opening up to the world. This article is to show us that why most of the western countries abandoned the separated operation and adopted mixed operation system gradually in recent years through the analysis of the changing process of commercial banking system in four countries. In my opinion, mixed operation is not fit for China presently as the economic conditions are not mature enough to do that.There are about 42000 words in this article made up of five parts.The first part is the preface, mostly telling the reason why I choose this title, the meaning of study and the study methods of this paper.The first chapter is to explain the concepts and the advantage, disadvantage of two models——separated operation and mixed operation as well as the theory basis of these two models. Separated business model can effectively reduce the financial risk, ensure the equity and rationality of transaction in securities market, and reduce monopoly. But the separated business model has restricted the business field of the commercial banks, which result in low efficiency and low competitiveness of commercial banks. The disadvantage of separated model can be made up by mixed model, and in reverse, the disadvantage of mixed business can also be made up by separated business model. Both of these two models' have their theory basis: hypothesis of rational people, save——investment transition theory, unsymmetrical information theory, scale economy and scope economy theory, division lead to efficiency theory and so on.Chapter two,mainly analyze the operation system transformation process that the commercial banks had undergone in America, Japan, England and Germany four countries from the view of background and financial laws system. America, Japan and England used to be representative countries of separated operation, whereas German is representative of mixed operation.America has undergoing a wavy process of mixed operation——separated operation——mixed operation. The crisis of 1930s resulted in separate operation with coming on of the famous GS Act. However, the situation has changed much from 1930s-1990s and it finally led the commercial banks to mixed operation in various ways. In the early days, the division between bank... |
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