estimating the costs of the various functions they perform. We investigate three major functions: namely, liquidity and payment … management for the customers, the bearing of credit risk, and term transformation. For the year 2012, the costs of liquidity and … payment management correspond, in the median, to 47%, the bearing of credit risk to 16%, and earnings from term transformation …

estimating the costs of the various functions they perform. We investigate three major functions: namely, liquidity and payment … management for the customers, the bearing of credit risk, and term transformation. For the year 2012, the costs of liquidity and … payment management correspond, in the median, to 47%, the bearing of credit risk to 16%, and earnings from term transformation …

estimating the costs of the various functions they perform. We investigate three major functions: namely, liquidity and payment … management for the customers, the bearing of credit risk, and term transformation. For the year 2012, the costs of liquidity and … payment management correspond, in the median, to 47%, the bearing of credit risk to 16%, and earnings from term transformation …