– ͼ
ֱ (1)1б 밨, (2)ݸ϶ , (3)M&A 밨, (4) ̼, (5) ſ λ, ְ ־. ߿ M&A밨 ̼ Ʈ̵ ȸ ϱ װ ٸ Ҵ ְ ̲ δ.
ε ϶ ڻ ؾ Ѵ. Ÿڿ ų ʿ䰡 , ߱ Ǵ õ ʴ´.
ȣ翡 м
1. 1б 밨
̹ 1б б 2 ̻ ȴ. 4б ȸ ߴ Ϳ , ̹ 1б ̴н Ű ȸ ϱ ̴. 1б NIM Ǿ.
ȸ NIM ־ ͼ Ǿٰ , ̻ űݸ ߱ ̱ رݸ λ ʴ ̻, NIM 1б⸦ ϶ δ. ٸ NIM ü پ Ȳ̱ ū ȭ Ͼ Ȳ̴.
1б б ũ þ, 纸 پ ɼ ũ.
2. ݸ϶
Ϳ ̶ : ݸ ϶ > > ڻ > Ȯ
Ϲ Ȳ̶ ݸ 鼭 þ. ѱ ʿ IT ұ ۿ . (1)IT ü ʿ ʰ (2)ڵ ä ϰ (3)Ǽ, ǿ ̰, (4)迡 ε ϶ .
Ϻ 89 ݸ 0 ̾ Ұϰ ޱߴ. ̰ ݸ ұϰ Ϻ ȭ ʾҴ. ̷ Ÿ 2000 ʹݿ Ű ︮Ϳ Ѹڴٴ ߾ ߴ ε, ӰԵ ̱ ϰ ִ ̴. 빫 â ̸ ǥ ħü(balace sheet recession) ݸ ϶ϴ þ ʴ´.
ݸ ұϰ Ϻ 켱 ä ̴µ ַ ۿ .
ֱ ָް ִ Ϻ κä ΰä ȸϱ õ ؼ ִ.
ΰſ 1990 ķ ߰, M2 . Ϻ ȭ(Quantitative Easing) õ ̾.
M2 1% 0.2% ߴ.
̱ ݸ ұϰ ΰſ پ ϰ ִ.
̱ ̳ʽǿ ӹ ִ.
䰡 ̳ʽ.
̱ M2 ſ ٸ ̰ ִ.
ѱ Ϻ ̱ó ǥ ħü ٰ Ȯ ִ ܰ ƴ Դܰ迡 ִ δ.
, ݸ ϶ص ũ Ѵ. NIM 1б⸦ پ, ñ ٸ, پ ִ.
3. M&A 밨
M&A ְ ̰ ִ. M&A ȸ ְ ϴ. 츮 μԸ νڻ , μ ū δ. 縶 Ȳ ܼ M&A ϴ ϴ. Ư ϳ 쿡 μ ڸ ؾ δ.
4. ̼
ü PBR 1 Ͽ , ̼ 2005~2007 ̴.
Ȳ , Ȳ ܱ Ʈ̵ ڴ ϳ, ó Ŀ Ÿű 뼼 ؼ ǽɽ.
5. ſ λ
ܹ ſλ Ժ ٿ , (1) ȭԺ 8% Ұϰ (2) ̹ CDS 忡 ѱ ũ ϰ ֱ ū ̴.
忡 PF Ǽ , ä, ߿ Ư ô㺸 ؾ Ѵ.
NPL , ڻ Ư ̳, Ÿ ڻ ְ ȵȴ. ̴ NPL Ÿ ̴.
ü ÷ ī ڹ ϴ <ī Ŭ> ̿Ͻø ˴ϴ.
Ÿֻ̹ Ϻ , Ѽ ûҸ ְ .
ݸ ұϰ
̷ ߵɰ .