銀行運作機制解析——貨幣與信用：英語精讀講義

The international banking system is an enigma.

國際銀行系統是一個謎。

There are more than 30,000 different banks worldwide

全球有超過3萬家不同的銀行，

and they hold unbelievable amounts of assets.

它們持有數額驚人的資產。

The top 10 banks alone

僅排名前十的銀行，

account for roughly 25 trillion US dollars. 片語動詞

就佔了大約25兆美元。

Today, banking can seem very complex,

如今，銀行業可能顯得非常複雜，

but originally the idea was to make life simpler.

但最初的想法是為了讓生活更簡單。

11th century Italy was the center of European trading.

11世紀的義大利是歐洲貿易的中心。

Merchants from all over the continent

來自整個歐洲大陸的商人

met to trade their goods,

聚集在這裡交易商品，

but there was one problem.

但有一個問題。

Too many currencies in circulation. 用詞

流通中的貨幣太多了。

In Pisa, merchants had to deal 片語動詞

在比薩，商人不得不處理

with seven different types of coins

七種不同類型的硬幣，

and had to exchange their money constantly.

並且必須不斷地兌換貨幣。

This exchange business,

這種兌換業務，

which commonly took place outdoors on benches,

通常在戶外的長椅上進行，

is where we get the word bank from. 文化背景

也就是「bank」（銀行）這個詞的由來。

From the word banco,

源自「banco」這個詞，

Italian for bench.

義大利語裡「長椅」的意思。

The dangers of traveling,

旅行的危險、

counterfeit money,

偽鈔，

and the difficulty of getting a loan

以及獲得貸款的困難，

got people thinking. 文法

讓人們開始思考。

It was time for a new business model. 文法

是時候建立一種新的商業模式了。

Pawnbrokers started to give credit to businessmen, 片語搭配

典當商開始向商人提供信貸，

while Genoese merchants developed cashless payments.

而熱那亞商人則開發了無現金支付。

Networks of banks spread all over Europe,

銀行網絡遍布整個歐洲，

handing out credit even to the church 片語動詞

甚至向教會

or European kings.

或是歐洲國王提供信貸。

What about today?

那今天呢？

In a nutshell, 表達脈絡

簡而言之，

banks are in the risk management business.

銀行業從事的是風險管理業務。

This is a simplified version

這是一個簡化版

of the way it works.

關於它的運作方式的說明。

People keep their money in banks

人們把錢存入銀行

and receive a small amount of interest.

並獲得少量的利息。

The bank takes this money

銀行拿走這些錢，

and lends it out at much higher interest rates. 片語動詞

以高得多的利率貸放出去。

It's a calculated risk 片語搭配

這是一個經過計算的風險，

because some of the lenders will default on their credit. 用詞

因為一些借款人會違約。

This process is essential for our economic system

這個過程對我們的經濟體系至關重要，

because it provides resources for people to buy things like houses 文法

因為它為人們購買房屋等物品，

or for industries to expand their businesses and grow.

或為企業擴大業務和發展提供了資源。

So, banks take funds that are unused by savers

因此，銀行吸收儲戶未使用的資金，

and turn them into funds society can use to do stuff. 片語動詞

並將其轉化為社會可以用來做事的資金。

Other sources of income for banks

銀行的其他收入來源

include accepting savings deposits,

包括吸收儲蓄存款、

the credit card business,

信用卡業務、

buying and selling currencies,

買賣外匯、

custodian business,

保管業務，

and cash management services.

以及現金管理服務。

The main problem with banks nowadays

如今銀行的主要問題是，

is that a lot of them have abandoned their traditional role

它們中的很多已經放棄了傳統的角色，

as providers of long-term financial products

即長期金融產品提供者，

in favor of short-term gains that carry much higher risks. 片語搭配

轉而追求風險更高、回報更快的短期收益。

During the financial boom,

在金融繁榮時期，

most major banks adopted financial constructs

大多數主要銀行採用了幾乎無法理解的

that were barely comprehensible

金融架構，

and did their own trading in a bid to make fast money 片語搭配

並為了賺快錢而進行自營交易，

and earn their executives and traders millions in bonuses.

從而讓高管和交易員賺取數百萬的獎金。

This was nothing short of gambling 慣用語

這簡直就是賭博，

and damaged whole economies and societies,

並損害了整個經濟體和社會，

like back in 2008,

就像2008年那樣，

when banks like Lehman Brothers gave credit 文化背景

雷曼兄弟等銀行把貸款發放給

to basically anyone who wanted to buy a house

基本上任何想買房的人，

and thereby put the bank in an extremely dangerous risk position.

從而將銀行置於極其危險的風險境地。

This led to the collapse of the housing market 片語搭配

這導致了房地產市場的崩潰，

in the US and parts of Europe,

在美國和歐洲部分地區，

causing stock prices to plummet, 文法

導致股票價格暴跌，

which eventually led to a global banking crisis

最終引發了全球銀行業危機，

and one of the largest financial crises in history.

也是歷史上最大的金融危機之一。

Hundreds of billions of dollars just evaporated. 慣用語

數千億美元就這樣蒸發了。

Millions of people lost their jobs

數百萬人失去了工作，

and lots of money.

損失了大量的金錢。

Most of the world's major banks had to pay billions in fines

世界上大多數主要銀行不得不支付數十億美元的罰款，

and bankers became some of the least trusted professionals.

而銀行家成了最不被信任的職業之一。

The US government and the European Union

美國政府和歐盟

had to put together huge bailout packages 講解

不得不制定龐大的救市方案，

to purchase bad assets

用來購買不良資產，

and stop the banks from going bankrupt. 文法

並阻止銀行破產。

New regulations were put into force 片語搭配

新的法規開始生效，

to govern the banking business.

以監管銀行業務。

Compulsory bank emergency funds were enforced

強制實行了銀行應急基金制度，

to absorb shocks in the event of another financial crisis. 講解

以在發生下一次金融危機時吸收衝擊。

But other pieces of tough new legislation

但是其他嚴厲的新立法

were successfully blocked by the banking lobby.

卻被銀行遊說團體成功阻撓了。

Today, other models of providing financing

如今，其他的融資模式

are gaining ground fast, 慣用語

正在迅速普及，

like new investment banks that charge a yearly fee

比如收取年費的新型投資銀行，

and do not get commissions on sales, 用詞

且不收取銷售佣金，

thus providing the motivation to act

從而有動力採取行動，

in the best interests of their clients. 片語搭配

以客戶的最大利益為重。

Or credit unions, 文化背景

或者是信用合作社，

cooperative initiatives that were established in the 19th century

這是建立於19世紀的合作性組織，

to circumvent credit sharks.

為了避開高利貸者。

In a nutshell,

簡而言之，

they provide the same financial services as banks,

它們提供與銀行相同的金融服務，

but focus on shared value

但側重於共享價值，

rather than profit maximization. 文法

而不是利潤最大化。

The self-proclaimed goal is to help members create opportunities 用詞

它們自稱的目標是幫助成員創造機會，

like starting small businesses,

比如創辦小企業、

expanding farms,

擴建農場、

or building family homes

或建造家庭住房，

while investing back into communities. 片語搭配

同時再把資金投資回社區。

They are controlled by their members,

它們由成員控制，

who also elect the board of directors democratically.

成員還透過民主方式選舉董事會。

Worldwide, credit union systems vary significantly,

在世界範圍內，信用合作社體系差異很大，

ranging from a handful of members 文法

從只有少數成員，

to organizations worth several billion US dollars

到價值數十億美元、

and hundreds of thousands of members.

擁有數十萬成員的組織都有。

The focus on benefits for their members

注重為成員謀福利，

impacts the risk credit unions are willing to take,

影響了信用合作社願意承擔的風險，

which explains why credit unions,

這解釋了為什麼信用合作社，

although also hurting,

儘管也遭受了損失，

survived the last financial crisis

卻在上一次金融危機中倖存了下來，

way better than traditional banks. 文法

且情況遠好於傳統銀行。

Not to forget the explosion of crowdfunding 文化背景

還有不能忘記群眾募資的爆發式增長，

in recent years.

就發生在最近幾年。

Aside from making awesome video games possible, 表達脈絡

除了讓精彩的電子遊戲成為可能之外，

platforms arose that enabled people to get loans 文法

還出現了允許人們獲得貸款的平台，

from large groups of small investors,

這些貸款來自大量小投資者，

circumventing the bank as a middleman. 用詞

從而繞過了作為中間人的銀行。

But it also works for industry.

但這對工業也適用。

Lots of new technology companies started out 片語動詞

許多新的科技公司起步於

on Kickstarter or Indiegogo.

Kickstarter或Indiegogo平台。

The funding individual gets the satisfaction

出資的個人獲得了成就感，

of being part of a bigger thing

因為參與到了一件更大的事情中，

and can invest in ideas they believe in, 片語動詞

並可以投資於他們相信的理念，

while spreading the risk so widely 文法

同時將風險分散得很廣，

that if the project fails,

即使項目失敗了，

the damage is limited.

損失也很有限。

And last but not least, 表達脈絡

最後同樣重要的是，

microcredit. 文化背景

微型貸款。

Lots of very small loans,

大量非常小的貸款，

mostly handed out in developing countries,

大多數在開發中國家發放，

that help people escape poverty.

幫助人們擺脫貧困。

People who were previously unable to get access

那些以前無法獲得

to the money they needed to start a business

創業所需資金的人，

because they weren't deemed worth the time. 文法

是因為他們被認為不值得花時間。

Nowadays, the granting of microcredits

如今，微型貸款的發放

has evolved into a multi-billion-dollar business.

已經演變成一項價值數十億美元的業務。

So, banking might not be up your street, 慣用語

因此，銀行業可能不是你的菜，

but the bank's role of providing funds

但是銀行提供資金的角色，

to people and businesses

無論是對個人還是對企業，

is crucial for our society

對我們的社會都至關重要，

and has to be done.

並且必須有人來做。

Who will do

誰來做

it and how it will be done in the future

以及未來將如何做，

is up for us to decide, though.

則是我們要決定的事了。