未来金融系统的风险、收益及弹性（国外英文资料）.docVIP

未来金融体系的风险、收益及弹性（国外英文资料） The risks, benefits and resilience of the financial system in the future By jose Manuel gonzalez-paramo Jose Manuel Gonzalez - para mo (Jose Manuel Gonzalez Paramo), was born in Madrid in 1958, graduated from Columbia University in New York in 1986 and received a doctors degree from the department of economics, of Spanish Kang Pulu vines plug, a professor at the university of senior economic advisers, Spain, the Spanish bank executive council members, the European central bank executive board member. Crisis experience shows that relative to the protection of individual financial institutions from collapse, a dutiful financial institutions risk manager and improve the specific risk control framework is more important. The joint efforts of risk managers, regulators and central Banks -- and indeed must -- ensure the resilience of the entire financial system. The importance of a resilient financial system The contribution of a resilient financial system to the real economy is in three respects. First, the financial system serves as a intermediary between borrowers and depositors. From the perspective of the borrowers, the stability of the financial intermediation means residents can get mortgages to buy homes, entrepreneurs innovation can be applied to production after receive money, the government can undertake long-term projects to build roads and hospitals; From the perspective of depositors, as the financial intermediary can carry on the monitor to the borrower, conducting due diligence, scattered loan risk and investment risk through expert assessment, so by financial intermediaries lend money the risk smaller, more importantly, the financial intermediary can also meet the demands of depositors liquidity. Second, on the one hand, capital markets can finance companies and grow them. On the other hand, companies reliance on capital markets enhances their incentive to improve corporate governance. Third, financial products can help companies h