tailieunhanh - Savings and Cooperative banks: Social Approach to Credit Rationing

When currency f lows back to the Reserve Banks, each deposit is counted, verif ied, and authenticated. Notes that are too worn for recirculation (un- f it notes) and those that are suspected of being counterfeit are culled out. Suspect notes are forwarded to the United States Secret Service, and unf it notes are destroyed at the Reserve Banks on behalf of the Treasury. Notes that can be recirculated to the public are held in Reserve Bank vaults, along with new notes, until they are needed to meet demand. Coin that is received by Reserve Banks is. | Paper submitted to the Savings Banks Academic Award 2008 Savings and Cooperative banks Social Approach to Credit Rationing Nazik Beishenaly PhD student at the Grenoble-II University France at the National University of Kyrgyzstan Adress 64 av. Prekelinden 1200 Woluwé St. Lambert Belgium E-mail nazik_beishenaly@ December 2007 1 Nazik Beishenaly SAVINGS AND COOPERATIVE BANKS SOCIAL APPROACH TO CREDIT RATIONING Abstract The main purpose of this work is to investigate reasons of cooperative and savings banks capacity to reduce problem of credit rationing within the theoretical framework of postKeynesian uncertainty. We have also proposed the notion of social approach as an alternative to traditional and relational approaches which only remotely describe cooperative and savings banks reality. Social approach seems not only to better describe the relationship with their members but also appears to be positive constraint that the cooperative and savings banks organizational structure puts on their performance. In fact the confusion between ownercustomer functions of cooperative banks members and public interest assignment of most European savings banks make clear that these banking institutions finality is to offer services to the community. Loans to SME reveal this finality. 2 Introduction Despite the fact that savings banks vary significantly from country to country in their structures and the roles they play in their local markets savings banks in Europe are progressively becoming universal banks. The question arises about the particularity of savings banks with this evolution if they still have a separate identity or if it is already diluted in wide institutional variety on one hand and in universalized operations on the other Wysocki 1995 . According to the European Savings Bank Group today s savings banks stand out first and foremost for their close local and regional ties and proximity the will and vocation for socially responsible behaviour and a .