英語(yǔ)資源頻道為大家整理的china daily 雙語(yǔ)新聞：美國(guó)大銀行存貸款息差降至歷史低位，供大家學(xué)習(xí)參考。
Big US banks are set to report the thinnest margins between the rates at which they borrow and lend since the 1950s, as profits are squeezed by the Federal Reserve’s policy of ultra-low interest rates.
美國(guó)各大銀行存貸款利率之間的差值將達(dá)到上世紀(jì)50年代以來(lái)的最低位。美聯(lián)儲(chǔ)(Federal Reserve)極低的利率政策擠壓了銀行的利潤(rùn)。
Wells Fargo sparked a sell-off in bank stocks on Friday when it revealed its net interest margin had fallen more than anticipated as the bank could not find safe and profitable avenues to invest tens of billions of dollars of customer deposits.
上周五，富國(guó)銀行(Wells Fargo)引發(fā)了一輪銀行股拋售浪潮。該行披露稱，其凈息差降幅超過(guò)預(yù)期，該行無(wú)法為數(shù)百億美元的客戶存款找到安全和可盈利的投資渠道。
JPMorgan Chase, Bank of America and Citigroup are all expected to suffer from the same phenomenon in their fourth-quarter earnings this week. The average of analysts’ estimates for the four biggest banks’ net interest margin is 2.8 per cent, down from about 4 per cent 10 years ago. Longer-term industry data from the Federal Deposit Insurance Corporation shows the current low level was last reached more than 50 years ago.
本周將公布去年第四季度盈利的還有摩根大通(JPMorgan Chase)、美國(guó)銀行(Bank of America)和花旗集團(tuán)(Citigroup)，它們也都面臨著與富國(guó)銀行相同的問(wèn)題。分析師對(duì)上述四大行的凈利差平均估值為2.8%，低于10年前約4%的水平。來(lái)自聯(lián)邦存款保險(xiǎn)公司(FDIC)的長(zhǎng)期行業(yè)數(shù)據(jù)顯示，上一次美國(guó)大銀行的凈利差降至眼下的低水平發(fā)生在50多年前。
By endeavouring to reduce both short-term and long-term rates, the Fed has helped flatten the yield curve, restricting banks’ ability to make money by borrowing short-term – such as by taking deposits from individuals – and lending long. The idea is to stimulate the economy by giving banks more incentive to offer shorter-term loans.
美聯(lián)儲(chǔ)努力同時(shí)降低短期和長(zhǎng)期利率，從而拉平了收益率曲線，限制了銀行借短（例如從個(gè)人手中吸收存款）貸長(zhǎng)的能力。其構(gòu)想是刺激銀行發(fā)放更短期的貸款，以刺激經(jīng)濟(jì)增長(zhǎng)。
In this climate JPMorgan’s traders attempted to generate profits by investing excess deposits in a disastrous credit derivatives arbitrage, which ultimately racked up more than $6bn in losses. An internal report into this incident is expected to be published this week. Some bank investors and analysts worry that others may opt for similarly risky strategies to compensate for the lower rates.
正是在這種環(huán)境下，摩根大通的交易員試圖把多余存款投資于信貸衍生品套利，以求獲利，結(jié)果是一場(chǎng)災(zāi)難，最終虧損累計(jì)逾60億美元。預(yù)計(jì)本周將發(fā)布一份針對(duì)該事故的內(nèi)部報(bào)告。部分銀行投資者和分析人士擔(dān)心，其他銀行也可能選擇同樣高風(fēng)險(xiǎn)的戰(zhàn)略，來(lái)補(bǔ)償更低的利率。
“Ultimately you have this double whammy. The Fed’s action is flattening the yield curve, which is pushing down interest margins, and the [balance-sheet managers] at the banks are saying they don’t want to go too far out on the curve,” said Brad Hintz, banking analyst at AllianceBernstein. “The banks face a really interesting problem.”
聯(lián)博有限公司(AllianceBernstein)的銀行業(yè)分析師拉德·欣茨(Brad Hintz)表示：“最終禍不單行。美聯(lián)儲(chǔ)的舉措拉平了收益率曲線，壓低了利差，而銀行（的資產(chǎn)負(fù)債表經(jīng)理）表示，他們不想在曲線上走得太遠(yuǎn)。銀行面對(duì)的問(wèn)題確實(shí)很有意思?！?