NO.PZ2020021601000013
问题如下：
Ivan Paulinic, an analyst at a large wealth management firm, meets with his supervisor to discuss adding financial institution equity securities to client portfolios.
Paulinic gathers data on three national banks that meet initial selection criteria but require further review.
All of the national banks under consideration primarily make long- term loans and source a significant portion of their funding from retail deposits. Paulinic and the rest of the research team note that the central bank is unwinding a long period of monetary easing as evidenced by two recent increases in the overnight funding rate. Paulinic informs his supervisor that:
Statement 1 Given the recently reported stronger- than- anticipated macroeconomic data, there is an imminent risk that the yield curve will invert.
Statement 2 N- bank is very active in the 30- day reverse repurchase agreement market during times when the bank experiences significant increases in retail deposits.
Based on Statement 1, the net interest margin for the three banks’ most likely will:
选项：
A.decrease.
B.remain unchanged.
C.increase.
解释：
A is correct.
A bank’s net interest margin represents the difference between interest earned on loans and other interest- bearing assets and the level of interest paid on deposits and other interest- bearing liabilities. Banks typically borrow money for shorter terms (retail deposits) and lend to customers for longer periods (mortgages and car loans). If the yield curve unexpectedly inverts, the short- term funding costs will increase and the net interest margin will most likely decrease (not remain unchanged or increase).
问题如下：
1.题目说当最近两晚被证实隔夜利率上升，央行打算进行一个长期的货币宽松政策。那么应该就是往市场放出货币，市场货币供给增加，利率应该是下降的吧？那么净息差就应该是上升啊？为什么不选C
2.最后一句话也说了，从长期宏观来看（央行实施长期货币宽松政策），将会有invert的趋势（相对于前两晚隔夜利率上升，反转后应该就是下降吧），所以最后净息差也应该是上升啊，为什么不选C
