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Now incidentally, often bank loans to corporations are short-term, technically, so the bank is both lending short and borrowing short.
顺便说一下,技术上讲,银行借给公司的都是短期贷款,银行同时进行短期借贷业务
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But for, at least for finance, a lot of the banks and companies actually have sessions here on campus
但是对于金融专业来说，很多银行和公司都在校内召开宣讲会，
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I think that going forward, both the rating agencies and the banks will be very important in our society.
我认为这会有效果,信用评级机构和银行,都将会在我们的社会中扮演很重要的角色
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that could do anything from consulting to banking to finance to recruitment agencies.
从咨询到银行业，到金融，到招聘中介机构，各行各业都有。
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so all the big banks are in Canary Wharf, I think.
所以，我觉得所有的大银行都在金丝雀码头了，我是这样认为的。
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The idea was that this is better it's more democratic; each region of the United States has its own bank.
核心理念是这样会更好，这样更民主；,美国的每一个地区都有它自己的银行。
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Many central banks in Europe they have dates that go back to the eighteenth or nineteenth century.
许多欧洲的中央银行,他们都能追溯到,十八世纪或十九世纪。
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I wanted to talk today about investment banking, which is a subject of some interest around here.
今天我想谈论一个大家都感兴趣的课题,那就是投资银行业务，这里面太多新闻了。
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In the 1960s and 70s central banks around the world were inflating the currency.
在六十年代和七十年代，世界各地的中央银行,都在使货币上涨。
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Of the savings institutions, there were only 1,500; that's probably going down further because a lot of these old savings banks are being converted into commercial banks.
至于储蓄机构,只有1500个,现在可能就更少了,因为很多这类古老的储蓄银行,都逐渐被改造成了商业银行
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It's a very important industry and it's also one in which many of our students have found jobs, so I think it's important for us to try to understand the history of investment banks, the role they have in our financial community, and how they're regulated.
投资银行是一个非常重要的行业,我们许多学生都在投资银行工作,我们需要,了解投资银行的历史,在我们金融业扮演的角色,以及人们如何监管投资银行
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Bankers require a lot of prestige and status in their communities; so, this is happening all over the world.
在业内,银行家们需要很高的声誉和地位,所以,全世界都如此
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So, they said, after this Act every bank has to choose one or the other.
所以根据他们说的，至此之后每个银行,都必须选择自己的经营方向。
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If you'll allow me I will talk first about just what is a central bank such as the Federal Reserve and what do they do.
如果可以的话，我将首先谈谈,中央银行到底是什么,比如说联邦储备局，还有他们都做什么。
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They had a relationship between the Bank of England.
每家银行都与英格兰银行,有着这种合作联系。
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I was talking, up to this point, about commercial banks.
到目前为止我所讲到的都是,商业银行
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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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Actually, if you have more than $100,000 in a bank account you should probably pull it out and spread it around over several banks because each bank is separately insured, so there's effectively no limit if you're just a little bit smart and move your accounts around.
如果你的银行存款远不止10万,你最好把多余的取出,分别存入几家银行,因为每家银行都是独立保险的,因此不存在担保额度,只要你聪明一点,把存款分别存入几家银行
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I would be careful and not have all your money invested in stocks. I would look at a lot of these distressed debt--some of the distressed debt that has gone down. I don't know if you understand that but some of the debt that--even bank debt, which is the highest level, I think, has become very cheap.
我会非常的小心，不会把你们的钱全部都,投在股票上，我会寻找一些,不良债务--一些不良债务的价格已经下跌了,我不知道你们是不是理解这些东西,但一些债务--即使是银行债，它们的保险级别较高，我觉得，价格都已经很便宜了。
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And there's HSBC and Barclays. They are here,
还有汇丰银行和巴克莱银行。他们都在这里，
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And the central and also there are the banks from the regional banks that have a roll.
而且中央银行和地区银行,都有发挥的空间。
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All of these banks are really in control of short-term interest rates and these interest rates are used to try to manage and stabilize the economy.
所有国家的中央银行都可以,控制短期利率,通过控制短期率达到,管理和稳定经济的作用
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Well there weren't government banks; originally they were all private.
确实，不只政府银行在印制；,起初，所有银行都是私有的。
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All the banks complied and kept deposits with the Bank of England.
所有的银行都遵从,并且对英格兰银行付了保证金。
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What we've seen is a testing of the system -that we have regulatory requirements, that banks have enough capital -but this regulation is challenging because it's being stressed right now.
我们列举的这些案例都是对银行体系的考验,我们需要加强监管,以确保银行有充足的资本,但监管确实是一项艰巨的任务,因为现在面对的压力更大了
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You have lots of banks; the banks are taking in gold and issuing notes but they are forced by the Bank of England to keep a deposit at the Bank of England.
英国有很多家银行；,它们吸入金子并且发行纸币,但是它们都被英格兰银行强迫,在英格兰银行付保证金。
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This has happened so many times in history that governments around the world now regulate banks and tell them that they have to hold a minimum amount of reserves and have a minimum amount of capital.
这在历史上已经发生多次了,如今,各国政府都在进行银行监管,并且告诉他们,他们必须留存最小金额的准备金,以及最小金额的资本金
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Those are the big ones.
它们都是大型商业银行
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The U.S. Federal Reserve System was really a copy of the Bank of England thinking that, well, the Bank of England managed to prevent bank runs for all these years, let's create the Fed, which we'll talk about again later.
美国联邦储备制度,就是模仿英格兰银行而建立的,试想一下,由于英格兰银行在预防,银行挤兑方面一直都很成功,所以美国就效仿建立联邦储备,后面的课程再讲美联储
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When did we have we had a severe banking crisis 1797 1819 1837 1857 1873 in the United States in 1797 in 1819 in 1837 in 1857 in 1873 in 1893 and in 1907.
这些危机的发生,我们在9,1893，1907年都经历了严重的银行业危机。
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