better lending decisions. ETPLs also offer the potential to better align the interests of banks stakeholders, leverage bank …'s markets for investment and credit. An ETPL's underlying is a standardised commercial bank loan. With loan issue it is ‘pieced …': parted into pieces of equal rights and size. A significant number of pieces is then retained by the loan issuing bank, while …

both academia and policy makers. Beyond traditional on-balance sheet bank loans and bond investment, how did shadow banking …. Incentive of commercial banks to lower transaction costs is also very important. Although shifting business off balance sheet …

options presented to savers and the funding options available to Chinese banks. They highlight the markets intrinsic … deficiencies, vast externalities and tremendous potentials for moral hazard, that arise as banks push depositor funds into poorly … bank funding markets.Chinese Abstract: 作者们在本文中考量中国商业信用的准入及分配、提供给储户的投资选择以及中国的银行的有效融资选择。笔者强调由于银行把储户资金投入缺乏披露的表外贷款、遵循各类政治诱因、将中小企业及微小企业的借贷控制下放给影子金融家，从而导致的市场的内在缺陷、惊人的外部效应以及潜力巨大的道德风险。文章最终唤起对中国信贷、储蓄及银行融资市场的创新和实践改革的行动。 …