'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 …. Standardisation and trading of ETPL assets allow for easier comparability, valuation and transferability of bank assets and encourage …

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。 …

institutional sectors-based regulatory framework. In response, China's financial regulation has undergone significant reforms … organizational adjustment of the State Council in March 2018, as a result of which the previous 'one bank, three commissions' changes … to 'one committee, one bank and two commissions'. The gist of this reform is to strengthen regulatory coordination …

both academia and policy makers. Beyond traditional on-balance sheet bank loans and bond investment, how did shadow banking … transaction cost. Besides, during this process, regulation policy also exerts influences. Based on the above analysis, we build …

which is associated with bank balance sheet characteristics, such as asset size and liquidity strength. In other words, we …This paper investigates whether distributional effect arising from the impact of monetary policy on bank credits will …. First of all, we investigate whether there exist the distributional effects of monetary policy on bank lending behavior …

efficiency and productivity of Bank. Based on the method of Yang and Lee (2009), the research provides the new way to discuss …

of TTT on the liquidity of the constituent stocks. The empirical result coincides with the expectation of arbitrage … hypothesis that the liquidity of the constituents is increased after the introduction of TTT. Although both changing patterns … among categories of size and sector are not significantly different, most of the liquidity measures of smaller companies …