This is an interesting question: do they solve the moral hazard and adverse selection problem as well as banks do?
一个有意思的问题出现了,他们可以向银行那样,处理好道德风险以及逆向选择问题吗
She said, we have it now at Swiss Re and, of course, The World Bank sponsors crop insurance for farmers.
她说,我们公司推出了农作物保险业务,而且世界银行也向农户提供保险补贴
It was granted a monopoly on joint stock banking by Parliament in return for giving war loans to the government.
作为向政府给予战争贷款的交换,英格兰银行被英国国会授予,成为股份制银行的垄断者。
who were also issuing notes would leave their would keep a deposit with the Bank of England.
同时也在发行纸币的银行,要向英格兰银行付保证金。
It did it through banks; they gave the money to banks to make loans to people who were in trouble.
贷款还是通过银行发放,他们把钱给银行,然后由银行向有困难的人放贷
Before that the United States went through repeated banking crises when people would start demanding the gold for their notes.
才有了中央银行,在这之前,当人们向银行索要金子来兑现他们的纸币时,美国经历了一次又一次的重蹈覆辙的银行业危机。
It was an international convention that gave, what they called, risk-based capital requirements and recommended risk-based capital requirements to bank regulators around the world.
巴塞尔协议是一个国际公约,它制定了,风险资本要求,并且向各国的银行监管者,推荐风险资本要求
They were lending to banks that were in trouble and the--so we'll give them a good rate; that's what they used to do.
他们向处于困境的银行贷款,并且-所以,我们要给他们一个好的比率;,这就是他们过去经常做的。
What's essential about the Primary Dealer Credit Facility is that they're opening up the discount window of lending beyond the member bank to primary dealers.
一级交易商信贷工具中,最本质的东西是,他们将会员银行的贴现窗口,向一级交易商打开了。
So the Bank of England then became a kind of regulator of these banks and it would also loan to them when they were in trouble.
所以,英格兰银行当时,成为了众多银行的管制者,并且在它们陷入危机时,向它们发放贷款。
Most of the people who want to borrow money from the banks -let's talk about businesses -we're accepting business loans -they don't want to have to pay the money tomorrow.
大多数想从银行贷款的人...,我指的是企业,我们向企业发放贷款,大多数贷款企业都不希望今天借明天还
In that case, the bank can pay interest to depositors.
这样,银行就可以向存款人支付利息了
The member banks just as with the Bank of England when they're in trouble they are supposed to be able to borrow money from the central bank.
会员银行,就像英格兰银行的会员银行一样,当它们陷入困境时,它们可以向中央银行借入货币。
So the Bank of England effectively enforced that the banks in England kept adequate reserves and they would see some of these reserves in the deposits at the Bank of England.
所以,英格兰银行有效率地强制执行了,这种制度-英国的银行保有足够的准备金,并且他们将在向英格兰银行付的保证金里,看到准备金其中的一部分。
The issuing bank would be driven out of business if it didn't. They all were using fractional reserve banking so if you have a big player that's demanding gold from you you're in trouble.
发行纸币的银行将会被驱逐出银行业,如果它不这么做,它们都采取,部分准备金银行制度,所以如果你有一个对手,一直向你索求金子,你会陷入大麻烦的。
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