释义 |
Nonintermediated debt market Nonintermediated debt marketA financial market in which borrowers (government and large corporations) appeal directly to savers for debt capital through the securities markets without using a financial institution as intermediary.Nonintermediated Debt MarketA situation in which no financial institutions stand between counterparties in a transaction involving debt. For example, in the sale of a house, the seller could provide financing directly to the buyer without resorting to a bank. Alternatively, a company may issue a bond directly to investors without hiring an underwriter. That is, the issuer sells the bond on the market and no party acts as a "middle man." This can reduce transaction costs, but can deprive the parties of the expertise the intermediating party can provide. See also: Intermediated market. |