金融中介-商业银行（financial intermediary commercial bank）

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1、金融中介-商业银行（Financialintermediarycommercialbank）Sixth:topicoffinancialintermediationAsymmetricinformationandfinancing(1)thebasicconceptsofasymmetricinformationtheory(two)asymmetricinformationandfinancing*coreknowledge:thesolutionoftheprincipal-agentproblemOptimalcontractdesign:rationalpa

2、rticipation,constraintincentive,compatibilityconstraintTwo.Typesoffinancialinstitutions*coreknowledge:thefinancialinstitutionsareconsideredcontractualagreementstocomparethedifferencesbetweendifferentinstitutionsSourcesoffunds(deposits,loans,equity)-whatcontractsareissued?Whatcontractsa

3、reusedintheuseoffunds(securitiesinvestment,loans,loansofspecificscope)?Eg.commercialbanks:absorbdeposits+loansSourcesoffunds:issuingdepositcontract(DepositoryContract),bankdeposit"ahandle"(R(takeadvantageofinformation)

4、edepositordoesnotimprovetheinformationasymmetrybetweenhimandthebank'sincentive."Unsupervisedcost".Theuseoffundstobuystandarddebtcontract(StandardDebtContract),theprivatepossessionofinformation(differentfromcorporatebonds),rightcamerasettings:A.borrowerservicing,creditor'srightstoreceiv

5、einterest;B.borrowersdefault,creditorsofborrowersgenerallyclaimassets(auction).Borrower'sstrategy:ifthecreditordoesnotsupervise,theborrowercantransfertheassetsatthesametime,andthendefault.--Motivation:R(unsupervised)

6、ancing;NKsociety'stotalsupervisorycostInternalrelation:Thecontractualattributesoftwocontractsinhorizontalcomparison:A.liquidityThree,commercialbanking(1)fundsourcebusiness;capital>1+2+3+4=accountingcapital>1+2+3+4+5=regulatorycapitalDebtcapital:longtermcapitaldebt:longterm(capitalstabi

7、lity)+Postrepaymentagreement(thebondholderreceivesitsdebtpayingpositionbelowallothercreditors,butisaheadofallshareholders)Assets=Liabilities+owner'sequity100=80+20Assets+cash=Liabilities+longtermcapitalbonds+owner'sequity100+80=80+80+20SufferlossesAssets+cashassetsimpairment=Liabilit