Costing of Types of Financial Services

The savings and loan crisis was brought to the attention of the American public in a dramatic manner in 1989. While the headlines emphasized the problems in the thrift industry of the financial services sector of the American economy, more thoughtful analyses began educating Americans to the fact that significant problems also existed in the commercial banking industry. Some analysts even contend that problems in the commercial banking industry hold the potential to cause the scandal in the thrift industry to appear minor by comparison.

Whatever the potential may be for a savings and loan type debacle in the commercial banking industry, a certainty is that the changing national and international financial services environments demand that commercial banks become more efficient in their operations if they hope to survive in the remainder of the 1990s. Operational efficiency must be pursued by commercial banking institutions in a number of different areas. An area of particular significance in this context is the costing of banking productsthe financial services provided by commercial banking institutions.

The problem area of banking product costing is exacerbated by the changing character and definition of the various types of financial services, and the alternative methods of the costing of such services, including the complex factor involved in such costing. This problem will be examined in the proposed researc

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government, at the expense of state governments.6 In the 1990s, state governments continue to regulate state chartered banks within their jurisdictions. Almost all of these banks, however, are also subject to federal regulatory actions. Those banks with federal charters are subject only to federal regulatory actions. The principal federal banking regulatory actions deal with currency control, banking structure, competition, monetary control, and deposit insurance. Regulation of the Financial Services Sector In contemporary society, government policy exerts a significant influence on almost all aspects of daily life. Prospects for the financial well being of individuals, thus, are, to a great extent, __________ 6J. E. Smith, "The Office of the Comptroller of the Currency and the Structure of American Banking," in The Bankers' Handbook, 5th ed. (Homewood, Illinois: Dow JonesIrwin, 1992), 1148. . . . determined by public policy, by those decisions which shape contemporary environments in communities, workplaces, homes, and schools. Public policy sets parameters for the mode and character of industrial and agricultural production, corporate management, and individual behavior.7 The savings and loan crisis was b

Category: Economics - C