【正文】 uding the 55 member central banks of the Bank for International Settlements, the threshold(門檻 ) is 8% (see the Basel Capital Accords) of riskadjusted assets(風(fēng)險加權(quán)資產(chǎn)), whereby certain assets (such as government bonds) are considered to have lower risk and are either partially or fully excluded from total assets for the purposes of calculating capital adequacy. The Bank for International Settlements (BIS) is an international anization which fosters international moary and financial cooperation and serves as a bank for central banks. （ 5） Exchange requirements ? To influence the money supply, some central banks may require that some or all foreign exchange receipts (generally from exports) be exchanged for the local currency. The rate that is used to purchase local currency may be marketbased or arbitrarily(強制 ) set by the bank. This tool is generally used in countries with nonconvertible currencies or partiallyconvertible currencies. （ 5） Exchange requirements ? In this method, money supply is increased by the central bank when it purchases the foreign currency by issuing (selling) the local currency. The central bank may subsequently reduce the money supply by various means, including selling bonds or foreign exchange interventions. Part Bank is mercial bank 2. The functions of mercial banks 3. Types of loans granted by mercial banks Part Bank is mercial bank A mercial bank is a type of financial intermediary and a type of bank. Commercial banking is also known as business banking. It is a bank that provides checking accounts, savings accounts, and money market accounts and that accepts time deposits. Part Bank 2. The functions of mercial banks (4)Credit Creation It is the ability of the mercial banks to create money in the form of demand deposits by making loans and investments that distinguishes mercial banks from other financial institutions. ? 商業(yè)銀行在信用中介職能和支付中介職能的基礎(chǔ)上，產(chǎn)生了 信用創(chuàng)造職能 。 What are the goals of moary policy? ? the promotion of sustainable economic growth ? full employment ? stable prices ? Stable balances of payments Through moary policy, the central bank is most able to maintain stable prices, thereby promoting economic growth and maximum employment. Policy ? What are the tools of moary policy? ? The main moary policy instruments available to central banks are open market operation, bank reserve requirement, interest rate policy, relending and rediscount (including using the term repurchase market), and credit policy (often coordinated with trade policy). Part Bank amp。前者則是中央銀行在穩(wěn)定的體制中利用貼現(xiàn)率，準(zhǔn)備金率，公開市場業(yè)務(wù)達到改變利率和貨幣供給量的目標(biāo)。 ? 廣義貨幣政策 ? 指政府、中央銀行和其他有關(guān)部門所有有關(guān)貨幣方面的規(guī)定和采取的影響金融變量的一切措施。s stock register ? regulating and supervising the banking industry ? setting the official interest rate – used to manage both inflation and the country39。 bank (lender of last resort) Simply Speaking ? What are the functions of a central bank? Functions of a central bank (not all functions are carried out by all banks) ? managing the country39。s entire money supply ? the Government39。如果市場出現(xiàn)下跌，股票市值達不到抵押的最低標(biāo)準(zhǔn)，投資者必須追加保證金或拋售股票。s Regulation T. Margin Account ? 投資者在證券公司開設(shè)的一種賬戶形式。 Moary Policy ? Part Bank ? Part Bank Part Bank amp。作為國際銀行監(jiān)督管理基礎(chǔ)的 《 巴塞爾協(xié)議 》 規(guī)定，資本充足率以資本對風(fēng)險加權(quán)資產(chǎn)的比率來衡量，其目標(biāo)標(biāo)準(zhǔn)比率為 8％。各國金融管理當(dāng)局一般都有對商業(yè)銀行資本充足率的管制，目的是監(jiān)測銀行抵御風(fēng)險的能力。資本充足率反映商業(yè)銀行在存款人和債權(quán)人的資產(chǎn)遭到損失之前，該銀行能以自有資本承擔(dān)損失的程度。當(dāng)前銀行的不良資產(chǎn)處理措施，都具滯后性。思想道德敗壞了，事態(tài)就會越變越糟。觀念的轉(zhuǎn)變是一個長期的、潛移默化的過程。很多逃廢銀行債務(wù)的企業(yè)，明知還不起也要借 。可以說，只要市場經(jīng)濟存在，道德風(fēng)險就不可避免。在這個例子中，投保的學(xué)生由于不完全承擔(dān)自行車被盜的風(fēng)險后果，因而采取了對自行車安全防范的不作為行為。但該保險運作一段時間后，這幾個學(xué)生發(fā)現(xiàn)自行車被盜比率迅速提高到 15%以上。 Moral Hazard ? 斯蒂格里茨在研究保險市場時，發(fā)現(xiàn)了一個經(jīng)典的例子：美國一所大學(xué)學(xué)生自行車被盜比率約為10%，有幾個有經(jīng)營頭腦的學(xué)生發(fā)起了一個對自行車的保險，保費為保險標(biāo)的 15%?！? 或者說是：當(dāng)簽約一方不完全承擔(dān)風(fēng)險后果時所采取的自身效用最大化的自私行為。 Professional Terms ? 73． moral hazard道德風(fēng)險 ? 道德風(fēng)險并不等同于道德敗壞。 Franchising ? 特許經(jīng)營是特許人將自己的商標(biāo)、商號、產(chǎn)品、專利、技術(shù)秘密、配方、經(jīng)營管理模式等無形資產(chǎn)以特許經(jīng)營合同的形式授予被特許人（受許人）使用，按照特許人統(tǒng)一的經(jīng)營模式從事經(jīng)營活動，并向被特許人收取費用的經(jīng)營形式 ,其實質(zhì)是無形資產(chǎn)的有償轉(zhuǎn)讓。 Professional Terms ? 特許經(jīng)營權(quán)（ Franchising）是指有權(quán)利當(dāng)局授予個人或法人實體的一項特權(quán)。 ? 第三，簽訂代理行協(xié)議 (AGENCY ARRANGEMENT)。 ? 第二，在分析與評價的基礎(chǔ)上，確定建立代理行關(guān)系的層次。 ? 首先，開展資信調(diào)查。 ? 期限存款的期限一般較長，如教育儲蓄等 Chapter 2 The Banking system Professional Terms ? correspondent國外代理銀行 ? 代理行是指相互間建立委托辦理業(yè)務(wù)的，具有往來關(guān)系的銀行。 M3 ? M3, which consists of M2 plus large—scale time deposits and term deposits． ? M3包括 M2加大額定期存款和期限存款。 M1 狹義貨幣供應(yīng)量 =M0+活期存款(demand deposit) ? M1 consists of currency and traveler’s checks plus checking deposits owned by individuals and businesses and it does not include currency held by banks， and it does not include currency and checking account owned by the government． ? M1包括個人與企業(yè)擁有的現(xiàn)金和旅行支票加支票存款，M1不包括銀行持有的現(xiàn)金，也不包括政府所擁有的現(xiàn)金和支票存款。 it does not have to be converted into anything else in order to make purchases. ? Other assets involve transaction costs when they are converted into money. The Moary Aggregates ? M0 現(xiàn)金 (currency—paper money and coins) ? M1 狹義貨幣供應(yīng)量 =M0+活期存款 (demand deposit) ? M2 廣義貨幣供應(yīng)量 =M1+定期存款 (time deposit)+儲蓄存款 (savings deposit)+其他存款 +貨幣市場共同基金 ? M3=M2+大額定期存款和期限存款 M0 現(xiàn)金 (currency—paper money and coins) ? The bills and coins that we use today are known as currency． ? 我們今天所用的紙幣和硬幣通稱為現(xiàn)金。 that is, it is used to measure value in the economy. We measure the value of goods and services in terms of money, just as we measure weight in terms of pounds or distance in terms of miles. Store of value ? Money also functions as a store of value: it is a repository of purchasing power over time. It is an asset. It’s something that we can use to store value away to be retrieved at a later point in time. So we can not consume today, we can hold money instead—and transfer that consumption power to some point in the future. ? Is money the only choice we have to