{"id":1064,"date":"2020-10-02T12:00:03","date_gmt":"2020-10-02T18:00:03","guid":{"rendered":"https:\/\/avalaunchsites.com\/bma\/?p=1064"},"modified":"2020-09-10T15:16:39","modified_gmt":"2020-09-10T21:16:39","slug":"how-are-financial-institutions-affected-by-a-financial-crisis","status":"publish","type":"post","link":"https:\/\/avalaunchsites.com\/bma\/2020\/10\/how-are-financial-institutions-affected-by-a-financial-crisis\/","title":{"rendered":"How Are Financial Institutions Affected by a Financial Crisis?"},"content":{"rendered":"<h1><b>How Financial Institutions Are Affected by Financial Crises<\/b><\/h1>\n<p><span style=\"font-weight: 400;\">In light of the current economic conditions caused by the global pandemic, many pundits are concerned about <\/span><span style=\"font-weight: 400;\">financial institutions affected by the financial crisis<\/span><span style=\"font-weight: 400;\"> and what financial institution failures could mean for personal finances. Financial crises are not uncommon. In fact, they\u2019re a normal part of the economic cycle. Fortunately, the government and the financial industry have now implemented safeguards against crashes like the one that occurred in 2008.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Learn more about what those safeguards are, what causes bank crises, how recessions impact financial institutions, and what financial institutions do about them below.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1066\" src=\"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_1631119204.jpg\" alt=\"\" width=\"1000\" height=\"587\" srcset=\"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_1631119204.jpg 1000w, https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_1631119204-300x176.jpg 300w, https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_1631119204-768x451.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<h2><b>How Do Financial Institutions Affect the Economy?<\/b><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">A financial crisis can really make a financial institution suffer. Recessions cause credit losses, lost revenue, and decreased investment value. As a financial institution\u2019s ability to offer credit recedes, the <\/span><span style=\"font-weight: 400;\">effects of the recession<\/span><span style=\"font-weight: 400;\"> are amplified. Economists refer to this phenomenon as the \u201c<\/span><a href=\"https:\/\/www.bankingperspectives.com\/banks-and-the-next-recession\/\"><span style=\"font-weight: 400;\">financial accelerator<\/span><\/a><span style=\"font-weight: 400;\">.\u201d Crises like these lead to poor performance. There is significantly less capital to use for investments and returns, which in turn drives unemployment up in the long term and reduces tax revenue.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>Who Benefits From a Recession?<\/b><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Not all the impacts of a financial crisis are bad for the economy. <\/span><a href=\"https:\/\/www.economicshelp.org\/blog\/407\/recession\/who-benefits-from-a-recession\/\"><span style=\"font-weight: 400;\">Some industries thrive<\/span><\/a><span style=\"font-weight: 400;\"> in times of economic downturn, including second-hand stores, supermarkets, payday loan companies, liquor stores, and any that company offering essentials, cheap entertainment, or discounted goods. First-time homebuyers also benefit from lower interest rates on mortgage loans in recessions.<\/span><\/p>\n<h2><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1067\" src=\"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_525095380.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_525095380.jpg 1000w, https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_525095380-300x200.jpg 300w, https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_525095380-768x512.jpg 768w, https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_525095380-900x600.jpg 900w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<h2><b>The Causes and Effects of Financial Institution Failures<\/b><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">There is no single reason that financial institutions fail. It can happen for many reasons, including the following, that have happened in the past:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Contagion: <\/b><span style=\"font-weight: 400;\">The United States is highly interconnected with other world economies. When one economy fails, ours can get caught in the domino effect, which economists refer to as \u201c<\/span><a href=\"https:\/\/courses.lumenlearning.com\/boundless-economics\/chapter\/fundamentals-of-banking-crises\/\"><span style=\"font-weight: 400;\">contagion<\/span><\/a><span style=\"font-weight: 400;\">,\u201d and it can result in any of the causes that follow in this list. When there is a low demand for imported goods, it spurs a global recession that tanks consumer confidence in the economy and lowers share prices worldwide.\u00a0<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>A decrease in borrowing:<\/b><span style=\"font-weight: 400;\"> During financial crises, people become more fiscally conservative. They stop spending their money superfluously, avoid new debts, and start saving instead, which means that financial institutions lose money on the interest made on loans. When this happens, financial institutions dramatically reduce their interest rates to encourage borrowing and investing in order to help stimulate the economy.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Mass withdrawals: <\/b><span style=\"font-weight: 400;\">As we saw in the Great Depression, the stock market crash led to a skepticism towards financial institutions, which caused many people to withdraw their money from the institution all at once. Most financial institutions\u2019 capital was already invested and they lacked enough free funds to cash out all accounts at once, sending the public into an even greater state of hysteria.\u00a0<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Government oversight: <\/b><span style=\"font-weight: 400;\">Many failures can simply be put down to government oversights. The 2008 financial crisis was partially caused by government <\/span><a href=\"https:\/\/www.americanprogress.org\/issues\/economy\/reports\/2017\/04\/13\/430424\/2008-housing-crisis\/\"><span style=\"font-weight: 400;\">regulations<\/span><\/a><span style=\"font-weight: 400;\"> that put pressure on the financial sector to make it easier to buy homes. Many consumers who had purchased homes eventually had to default on their mortgage loans, and financial institutions in the US and abroad lost money. In turn, financial institutions could no longer lend to each other or offer as much credit to customers.\u00a0<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Feedback loops in the stock market: <\/b><span style=\"font-weight: 400;\">Another cause of the 2008 crisis was the positive feedback loop effect that took place in the stock markets, in which investors picked stocks that were most appealing to other investors. This investing behavior causes major stock market rises and crashes that result in losses for financial institutions that don\u2019t have high leverage.<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1068\" src=\"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_1302837301.jpg\" alt=\"\" width=\"1000\" height=\"658\" srcset=\"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_1302837301.jpg 1000w, https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_1302837301-300x197.jpg 300w, https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/09\/shutterstock_1302837301-768x505.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<h2><b>How financial institutions Prevent Future Crises<\/b><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">In 2010, following the 2008 financial collapse, the <\/span><a href=\"https:\/\/www.congress.gov\/bill\/111th-congress\/house-bill\/4173\/text\"><span style=\"font-weight: 400;\">Dodd-Frank Wall Street Reform and Consumer Protection Act<\/span><\/a><span style=\"font-weight: 400;\"> was passed, which created new regulations in the United States and abroad to protect financial institutions and their clients or members. The act held financial institutions to high liquidity standards and forced them to keep more assets readily available so as to reduce the risk of future events like those mentioned above.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">While the financial industry has learned lessons from disasters of the past, subsequent laws put in place have not entirely kept financial institutions from assuming excessive risk. Irresponsible banking behaviors, poor-quality corporate debt accumulation, and loose monetary policy are the factors that economists say are likely to spur the <\/span><span style=\"font-weight: 400;\">next financial crisis<\/span><span style=\"font-weight: 400;\">. As such, another crash could be on the horizon.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>How You Can Safeguard Your Bank Against Collapse<\/b><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">As a financial institution, you have immense technology at your disposal that can help you assess and measure risk without human error. Companies like BMA Banking Systems offer <\/span><a href=\"https:\/\/avalaunchsites.com\/bma\/solutions\/\"><span style=\"font-weight: 400;\">solutions<\/span><\/a><span style=\"font-weight: 400;\"> like risk management to help you minimize your losses in tough economic times. <\/span><a href=\"https:\/\/avalaunchsites.com\/bma\/discovery-meeting\/\"><span style=\"font-weight: 400;\">Contact us<\/span><\/a><span style=\"font-weight: 400;\"> today to find out how our solutions could work for your institution.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How Financial Institutions Are Affected by Financial Crises In light of the current economic conditions caused by the global pandemic, many pundits are concerned about financial institutions affected by the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1065,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1064","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Are Financial Institutions Affected by a Financial Crisis | BMA<\/title>\n<meta name=\"description\" content=\"(150\u2013160 characters) Is your bank prepared for a financial crisis? 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