摘要：Banks play a crucial role in financing economic activity by acting as intermediaries between savers and borrowers; the maturity transformation performed by banks is an integral part of financial intermediation that contributes to the efficient allocation of resources in the economy. These activities expose banks to a number of risks, however, including funding-liquidity risk. As became evident during the financial crisis that began in 2007, inadequate management of liquidity risk can create severe problems for individual banks, contribute to contagion across the broader financial system and lead to a breakdown in financial intermediation.
