英国金融稳定报告theprovisionoffinancialservices.pdf

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1、Section1TheprovisionoffinancialservicestotheUKeconomy131TheprovisionoffinancialservicestotheUKeconomyAstablefinancialsystemisabletosustainthesupplyofkeyservicestotheeconomyeveninthefaceofmaterialshocks.Thissectionreviewstheperformanceofthefinancialsystemindeliveringthesecoreservicesoverthe

2、pastsixmonths.SubsequentsectionsofthisReportassessthreatstostabilityintheperiodaheadandpolicyactionsneededtosustainstabilityinthefuture.Overthepastsixmonths,theprovisionoftransactionsservicesbybanksandthekeypaymentsandsettlementsystemshasremainedresilient.Availabilityofcredittolargercompan

3、ieshasimprovedsincethecrisis.Butcreditconditionsforbothsmallerfirmsandsomehouseholdsremaintight.Mostcapitalmarketshaveimprovedsignificantlysincethecrisis,thoughrecentconcernsaboutsovereignriskhaveexposedsomefragilities.Securitisationmarketsarenottransferringrisk,thoughinsurancemarketsarefu

4、nctioningnormally.Chart1.1SightdepositswithUKbanks(a)TheBankhasframedthepurposesofitsfinancialstabilityrolePercentintermsofcontributingtothemaintenanceofcriticalservices20thatthefinancialsystemperformsinthewidereconomy:(1)Privatenon-financialcorporations(PNFCs)15providingthemainmechanismfor

5、payingforgoods,servicesandfinancialassets;intermediatingbetweensaversand10borrowersbychannellingsavingsintoinvestmentthroughbankcredit,debtandequityinstruments;andhelpingtoHouseholds(b)5insureagainstanddisperseriskacrossthesystem.The+0financialcrisisimpairedsomeofthesefunctions,particularl

6、y–creditintermediationservices.Thissectionreviews5performanceoverthepastsixmonths.10200607080910Source:BankofEngland.1.1Payment,settlementandtransaction(a)Twelve-monthgrowthrates.services(b)Includesindividuals,unincorporatedbusinessesandnon-profitinstitutionsservinghouseholds.Chart1.2Veloc

7、ityoftransactionsandsavingsmoney(a)Banktransactionserviceshavebeensustained…Indices:1990=100200Banks,andinparticularbankdeposits,areakeysourceoftransactionsservicestohouseholds,corporatesandinvestmentmanagers.Duringthefinancialcrisis,therewasasharpslowdowningr