货币银行学..pptVIP

Chapter 4 Financial Intermediation 4.1 金融机构的产生与发展 Ⅰ 金融机构产生的经济学基础 1、没有金融机构条件下的成本与风险 1 asymmetric information 信息不对称 市场交易的一方对另一方的信息不了解，或不完全了解 the security issuer borrower having more information than an investor lender about the issuer’s future performance. 逆向选择 Adverse selection is the tendency for those persons with the highest probability of experiencing financial problems to engage in a transaction. Arises before a transaction occurs 道德风险 ：借款人不按合约的约定从事正当的投资活动，而从事于高风险活动 Moral hazard: The risk, that the borrower may engage in activity that is undesirable from lender’s point of view. usually after a loan is granted 2 transactions costs involves the money and time spent carrying out financial transactions 2、金融机构对投融资双方的作用 1 benefits to surplus units overcome the obstacles that stop savers from purchasing primary claims directly diversification 2 benefits to deficit units reduce transaction costs Ⅱ 金融机构的产生 我国：早期的金银兑换、保管和汇兑业务 欧洲：金银保管兑换与放贷 16世纪中叶，最早的商人银行 17~18世纪 现代的银行体系逐步建立 1694年 第一家股份制商业银行——英格兰银行 银行产生所涉及的三个因素 1 全额准备制度演变为部分准备制度 2 保管凭条演变为Bank bond银行券 3 保管业务演变为存款业务 4.2 Financial Institutions Depository Institutions存款型金融机构 Contractual Savings Institutions契约型储蓄机构 Investment Intermediaries 投资型中介机构 ⅠDepository Institutions存款型金融机构 存款金融机构是从个人和机构接受存款并发放贷款的金融中介机构 issue checking, savings, and time deposits principally to make business, consumer, and mortgage loans and to purchase securities commercial bank 1 commercial bank 含义：以经营存款、放款、办理转账结算为主要业务，以盈利为主要经营目标的金融企业 liabilities：demand deposits, savings accounts, and time deposits. assets：mortgages, government securities, business loans, consumer loans, etc. 2 组织形式： 单一银行制、分支银行制、银行控股公司制度 single bank, branch bank, bank holding company system 2 savings bank储蓄银行 储蓄银行是以设立存折储蓄账户吸收居民储蓄为主要资金来源并用于发放各种抵押贷款的专业性银行 A financial institution that traditionally was limited to accepting savings deposits and making home mortgage loans. 资金来源：居民储蓄存款80~90%，经营收益，发行股票，借款 业务：长期性贷款，投资股票债券等 3 Credit Union信用合作社 是一种互助合作性质的金融