货币宽松

NO.PZ201812170100000206 问题如下 Baseon Statement 1, the net interest income for the three banks’ most likely will: A.crease. B.remain unchange C.increase. A is correct.A bank’s net interest income represents the fferenbetween interest earneon loans another interest- bearing assets anthe level of interest paion posits another interest- bearing liabilities. Banks typically borrow money for shorter terms (retail posits) anlento customers for longer perio (mortgages ancloans). If the yielcurve unexpectey inverts, the short- term funng costs will increase anthe net interest income will most likely crease (not remain unchangeor increase).解析考点Analysis of FinanciInstitutions - Analyzing A Bank - The CAMELS Approa- Earnings题目问基于描述 1，三家银行的 net interest income 将会如何变化？解题的关键信息，位于 Exhibit 4 下面的一段及描述 1，共两部分文字。结合起来看，关键信息是想说央行在解除货币宽松政策，隔夜拆解利率可能上升的不止 2 个点，可能上升更多，更说明短期利率上升，收益曲线反转，银行的负债成本上升了。new interest income，等于资产的收益，减去负债的成本。后者上升了，所以结果是降低 crease，选 我的理解很粗糙，就是危机发生了，收入会下降，但是我知道这不是真正的理解，老师能讲解下题目和答案的意思吗？

NO.PZ201812170100000206 问题如下 IvPaulinianalyst a large wealth management firm, meets with his supervisor to scuss aing financiinstitution equity securities to client portfolios. Paulinic focuses on Vermillion Insuran(Vermillion), a property ancasualty company, anCobalt Life Insuran(Cobalt). To evaluate Vermillion further, Paulinic compiles the information presentein Exhibit 1.In aition to the insurancompanies, Paulinic gathers ta on three nationbanks thmeet initiselection criteria but require further review. This information is shown in Exhibits 2, 3, an4.Focusing on N- bank anT- bank, Paulinic prepares the following ta.Paulinic investigates R- bank’s risk management practices with respeto the use of cret rivatives to enhanearnings, following the 2008 financicrisis. Exhibit 4 splays R- bank’s exposure over the last ca to cret rivatives not classifiehees.All of the nationbanks unr consiration primarily make long- term loans ansoura significant portion of their funng from retail posits. Paulinic anthe rest of the researtenote ththe centrbank is unwinng a long perioof monetary easing evincetwo recent increases in the overnight funng rate. Paulinic informs his supervisor that:Statement 1 Given the recently reportestronger- than- anticipatemacroeconomic tthere is imminent risk ththe yielcurve will invert.Statement 2 N- bank is very active in the 30- y reverse repurchase agreement market ring times when the bank experiences significant increases in retail posits. Baseon Statement 1, the net interest income for the three banks’ most likely will: A.crease. B.remain unchange C.increase. A is correct.A bank’s net interest income represents the fferenbetween interest earneon loans another interest- bearing assets anthe level of interest paion posits another interest- bearing liabilities. Banks typically borrow money for shorter terms (retail posits) anlento customers for longer perio (mortgages ancloans). If the yielcurve unexpectey inverts, the short- term funng costs will increase anthe net interest income will most likely crease (not remain unchangeor increase).解析考点Analysis of FinanciInstitutions - Analyzing A Bank - The CAMELS Approa- Earnings题目问基于描述 1，三家银行的 net interest income 将会如何变化？解题的关键信息，位于 Exhibit 4 下面的一段及描述 1，共两部分文字。结合起来看，关键信息是想说央行在解除货币宽松政策，隔夜拆解利率可能上升的不止 2 个点，可能上升更多，更说明短期利率上升，收益曲线反转，银行的负债成本上升了。new interest income，等于资产的收益，减去负债的成本。后者上升了，所以结果是降低 crease，选 解析中只讨论了对银行负债成本的增加，那么收益率曲线倒挂对资产端有影响吗？

NO.PZ201812170100000206 您好，收益曲线这个点和这个题目之间，我不记得了，您能画图解答一下吗？想不出来这个考点和逻辑。 （分析题目比计算题难多了）