菲利普·迪布維格
銀行與金融危機(jī)研究
Banking is inherently fragile because it involves transforming liquid liabilities into illiquid assets.
銀行業(yè)本質(zhì)上是脆弱的，因?yàn)樗婕皩⒘鲃?dòng)負(fù)債轉(zhuǎn)化為非流動(dòng)性資產(chǎn)。
The best way to prevent financial crises is to have strong capital buffers in good times.
預(yù)防金融危機(jī)的最佳方法是在經(jīng)濟(jì)景氣時(shí)期建立強(qiáng)大的資本緩沖。
Financial innovation is like fire - it can be very useful, but it needs to be contained.
金融創(chuàng)新就像火一樣-它可能非常有用，但需要加以控制。
The biggest risk in banking is not lending to bad borrowers, but borrowing from flighty lenders.
銀行業(yè)最大的風(fēng)險(xiǎn)不是向不良借款人放貸，而是從善變的貸款人那里借款。
Short-term funding markets are the Achilles' heel of modern finance.
短期融資市場(chǎng)是現(xiàn)代金融的阿喀琉斯之踵。
Banks are special because they create money, and that's why they need special regulation.
銀行之所以特殊是因?yàn)樗鼈儎?chuàng)造貨幣，這就是為什么它們需要特殊監(jiān)管。
The key to financial stability is proper regulation that aligns incentives between bankers and society.
金融穩(wěn)定的關(guān)鍵在于適當(dāng)?shù)谋O(jiān)管，使銀行家和社會(huì)之間的激勵(lì)機(jī)制保持一致。
A well-designed deposit insurance system can prevent bank runs without creating excessive moral hazard.
設(shè)計(jì)良好的存款保險(xiǎn)制度可以防止銀行擠兌，同時(shí)不會(huì)造成過(guò)度的道德風(fēng)險(xiǎn)。
Financial crises are not acts of God. They are caused by human actions and can be prevented by human actions.
金融危機(jī)不是天災(zāi)。它們是由人類行為引起的，也可以通過(guò)人類行為來(lái)預(yù)防。
The most important thing in banking is to make sure that the bank doesn't fail.
銀行業(yè)最重要的事情是確保銀行不會(huì)倒閉。