Question
Saving, Investment, and the Financial System: By the Numbers The financial system consists of banks, money markets, and government institutions that issue and manage money.
Saving, Investment, and the Financial System: By the Numbers
The financial system consists of banks, money markets, and government institutions that issue and manage money. Although the United States is the largest economy in the world, it does not have the largest banks in the world in terms of total assets.
Consider the accompanying tables which list the worlds ten largest banks in terms of assets in 2008 and 2017.
Top Banks in the World by Assets, 2008
Rank | Bank | Country | Total Assets 2008 ($ billions) |
---|---|---|---|
1 | Royal Bank of Scotland Group | UK | 3,515 |
2 | Barclay | UK | 3,004 |
3 | Deutsche Bank | Germany | 2,896 |
4 | BNP Paribas | France | 2,729 |
5 | HSBC Holdings | UK | 2,527 |
6 | JP Morgan Chase & Co | USA | 2,175 |
7 | Credit Agricole | France | 2,174 |
8 | Citigroup | USA | 1,938 |
9 | Mitsubishi UFJ Financial Group | Japan | 1,922 |
10 | ING Group | Netherlands | 1,858 |
Top Banks in the World by Assets, 2017
Rank | Bank | Country | Total Assets 2017 ($ billions) |
---|---|---|---|
1 | Industrial & Commercial Bank of China | China | 4,006 |
2 | China Construction Bank Corp | China | 3,397 |
3 | Agricultural Bank of China | China | 3,233 |
4 | Bank of China | China | 2,989 |
5 | Mitsubishi UFJ Financial Group | Japan | 2,774 |
6 | JP Morgan Chase & Co | USA | 2,534 |
7 | HSBC Holdings | UK | 2,522 |
8 | BNP Paribas | France | 2,348 |
9 | Bank of America | USA | 2,281 |
10 | China Development Bank | China | 2,202 |
Determine if each country had at least one bank ranked as one of the top ten largest in the world each year. Move each country to the appropriate category based on whether it had at least one bank in the topten largest in 2008 only, 2017 only, or both 2008 and 2017.
2008 only | 2017 only | both 2008 and 2017 |
Answer bank choices:
Japan, United Kingdom, United States, China, Germany, Netherlands, and France
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started