金融中介-商业银行（Financial intermediary commercial bank）.docVIP

金融中介-商业银行（Financial intermediary commercial bank） Sixth: topic of financial intermediation Asymmetric information and financing (1) the basic concepts of asymmetric information theory (two) asymmetric information and financing * core knowledge: the solution of the principal-agent problem Optimal contract design: rational participation, constraint incentive, compatibility constraint Two. Types of financial institutions * core knowledge: the financial institutions are considered contractual agreements to compare the differences between different institutions Sources of funds (deposits, loans, equity) - what contracts are issued? What contracts are used in the use of funds (securities investment, loans, loans of specific scope)? Eg. commercial banks: absorb deposits + loans Sources of funds: issuing deposit contract (Depository Contract), bank deposit a handle (R (take advantage of information) R (not use), do not take advantage of the information is a dominant strategy), the depositor does not improve the information asymmetry between him and the banks incentive. Unsupervised cost. The use of funds to buy standard debt contract (Standard Debt Contract), the private possession of information (different from corporate bonds), right camera settings: A. borrower servicing, creditors rights to receive interest; B. borrowers default, creditors of borrowers generally claim assets (auction). Borrowers strategy: if the creditor does not supervise, the borrower can transfer the assets at the same time, and then default. - - Motivation: R (unsupervised) R (supervision) Contractual integrity: direct financing; nmk vs.; indirect financing; NK societys total supervisory cost Internal relation: The contractual attributes of two contracts in horizontal comparison: A. liquidity Three, commercial banking (1) fund source business; capital 1+2+3+4= accounting capital 1+2+3+4+5= regulatory capital Debt capital: long term capital debt: long term (capital stability) + Post repayment agreeme