| 释义 |
disintermediate, v. orig. and chiefly Finance.
Brit. |ˌdɪsɪntəˈmiːdɪeɪt|, U.S. |ˈˌdɪsˌɪn(t)ərˈmidiˌeɪt|
[‹ dis- prefix + intermediate v., after disintermediation n.]
1. intr. To invest savings in or obtain funds from the stock market directly, as opposed to through the intermediary of a bank, building society, etc.; (also of a bank, etc.) to discontinue involvement as an intermediary in such transactions. Hence in general use: to reduce or eliminate the role of an intermediary.
1970N.Y. Times 29 Jan. 56/1 Many of the relatively small investors who might be attracted to 8 per cent Government securities have already bought Treasury bills. ‘I wonder whether the small disintermediator hasn't already disintermediated’, a Treasury bond man asked. 1979Daily Tel. 13 Aug. 14 Controlling the monetary base alone would simply mean that the banks disintermediated or reintermediated as necessary to meet their ratios. 1992Times 19 Aug. 19/7 Some companies are now financially stronger than the banks, so it is only natural they are disintermediating. 2001Bank Marketing Internat. (Nexis) 18 June 12 The Internet still offers a great deal of promise to the growth of financial services. However, its power to disintermediate should not be underestimated.
2. trans. To remove (funds) from a bank, building society, etc., in order to invest them directly in the stock market; to eliminate the role of (a bank, building society, etc.) as an intermediary between a lender and a borrower, or between an investor and the stock market. Hence in general use: to reduce or eliminate the role of (an intermediary).
1971Jrnl. Money, Credit, & Banking 3 29 The market has in part nullified regulatory intent as savers disintermediated their deposits in favor of open-market paper. 1986F. G. Adams Business Forecasting Revol. iv. 90 The differential between these rates determines whether funds go into mortgages or whether they are ‘disintermediated’, that is, drawn into short-term financial instruments. 1992National Westm. Bank Q. Rev. May 51 Hence the banks were ‘disintermediated’ by the growth of the eurobond market (and other forms of securitised lending). 2000N.Y. Times Mag. 13 Aug. 50/2 They want to ‘disintermediate’ political go-betweens and substitute their own networks for established political machines. |