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SPECIALIZED BANK SERVICES. 9. 9.1 International Banking 9.2 Insurance and Brokerage 9.3 Cash Management 9.4 Trusts. Lesson 9.1 INTERNATIONAL BANKING. GOALS. Identify three types of financial institutions engaged in international banking

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specialized bank services

SPECIALIZED BANK SERVICES

9

9.1 International Banking

9.2 Insurance and Brokerage

9.3 Cash Management

9.4 Trusts

lesson 9 1 international banking

Lesson 9.1INTERNATIONAL BANKING

GOALS

Identify three types of financial institutions engaged in international banking

Describe international services offered by banks

structure of international services
STRUCTURE OF INTERNATIONAL SERVICES
  • Foreign banks
  • U.S.-based international banking
  • Other types of international operations
  • Special considerations
    • Financial risk
    • Currency risk
    • Country risk
international services
INTERNATIONAL SERVICES
  • Trade financing
    • Letters of credit
    • Drafts and wires
    • International collections
    • Foreign currency exchange
  • Trade consulting
    • U.S. export-import (Ex-Im) bank
    • Overseas private investment corporation (OPIC)
    • Small business administration (SBA)
lesson 9 2 insurance and brokerage

Lesson 9.2INSURANCE AND BROKERAGE

GOALS

Explain the effects of the Gramm-Leach-Bliley Act of 1999

List typical insurance and brokerage products available from financial institutions

a new era
A NEW ERA
  • The old world: Glass-Steagall Act
  • The new world: Gramm-Leach-Bliley ACT (GLBA)
  • Limits and regulation
personal insurance products
PERSONAL INSURANCE PRODUCTS
  • Auto insurance
  • Credit insurance
  • Disability insurance
  • Life insurance
  • Health insurance
  • Homeowner’s insurance
  • Mortgage disability insurance
  • Title insurance
business insurance
BUSINESS INSURANCE
  • Commercial liability
  • Short-term disability
  • Long-term disability
  • Health insurance
  • Officers’ liability
  • Property
  • Workers’ compensation
brokerage services
BROKERAGE SERVICES
  • Brokerage refers to bringing together parties interested in making a transaction, such as buying and selling shares of stock.
  • A broker charges a fee to execute the transaction.
  • Banks now offer full investment services.
lesson 9 3 cash management

Lesson 9.3CASH MANAGEMENT

GOALS

Explain why banks are in a good position to offer cash management services

List several cash management services banks perform for businesses

system in place for cash management
SYSTEM IN PLACE FOR CASH MANAGEMENT
  • Every business needs to disburse and collect cash to complete business transactions.
  • Banks are in a good position to provide cash management services to businesses for a number of reasons.
    • Experience
    • Business knowledge
    • Technology
    • Industry expertise
cash management
CASH MANAGEMENT
  • Accounting services
  • Bank collection services
  • Information services
  • Credit card services
  • Capital services
accounting services
ACCOUNTING SERVICES
  • Payroll
  • Accounts payable
  • Accounts receivable
bank collection services
BANK COLLECTION SERVICES
  • Deposit service
  • Lockbox service
  • Zero-balance accounts
  • Automated Clearing House (ACH) Network
information services
INFORMATION SERVICES
  • Electronic Data Interchange (EDI)
    • Computer-to-computer exchange of business information
    • Banks can advise and provide services
credit card services
CREDIT CARD SERVICES
  • Credit card processing
  • Stored-value card
  • Credit analysis
capital services
CAPITAL SERVICES
  • Capital investments
  • Financing
  • Factoring
lesson 9 4 trusts

Lesson 9.4TRUSTS

GOALS

Explain what trust services are

Identify important types of trust services banks provide

what are trust services
WHAT ARE TRUST SERVICES?
  • A trust is an arrangement by which one party holds property on behalf of another party for certain defined purposes.
  • The donor, or settlor, is the person who creates a trust.
  • The beneficiary is the person for whose benefit the property is held.
  • Corpus, or res, refers to the property that is held.
trust service products
TRUST SERVICE PRODUCTS
  • Retirement planning
  • Estate planning
  • Estate settlement
  • Testamentary trust
  • Charitable remainder trust
  • Living trust
retirement planning
RETIREMENT PLANNING
  • IRA
  • 401(k) plan
  • Variable annuity
estate planning
ESTATE PLANNING
  • Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death.
  • An estate is the total property, real and personal, that an individual owns.
  • The cornerstone of any estate plan is a will, a document by which the individual gives instructions as to what is to happen upon his or her death in regard to property and remains.
  • Probate is a court proceeding that settles an estate’s final debts and formally passes legal title to property from the decedent to his or her heirs.
estate settlement
ESTATE SETTLEMENT
  • Identifying and valuing the estate assets
  • Paying creditors, estate expenses, and taxes
  • Preparing and filing the necessary tax documents with federal and/or state authorities
  • Distributing assets to beneficiaries
testamentary trust
TESTAMENTARY TRUST
  • Testamentary trusts are established by a will and take effect at the donor’s death.
  • They receive the assets of the estate to hold and manage for the benefit of the heirs.
charitable remainder trust
CHARITABLE REMAINDER TRUST

A charitable remainder trust (CRT) is an irrevocable trust designed to convert the highly appreciated assets of a trustor into a lifetime income stream without generating estate and capital gains taxes.

living trust
LIVING TRUST

A living trust is a legal document that provides an expedient way to transfer property at a person’s death.