Indirect securities - indirect securities

… As a type of financial institution or intermediary, banks act as intermediaries in the process of transferring funds from the ultimate lenders to the borrowers in the economy. That is, they issue indirect securities (claims against the financial institution itself, also called secondary securities) to absorb funds from surplus entities (lenders) that have incomes greater than they spend, and acquire primary securities (direct securities, also called primary securities), which are debt certificates issued by deficit entities (borrowers) that spend more than they earn, and use them to raise funds for the deficit entities. …

*Some of the terminology used to refer to "indirect securities" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…　銀行は金融機関ないし金融仲介機関の一種として，経済の究極的な貸手から借手へ資金が移転する過程で資金の仲介という機能を果たす。すなわち，間接証券(金融機関みずからに対する請求権。第二次証券ともいう)を発行して，支出以上に所得のある黒字主体(貸手)から資金を吸収し，所得以上に支出を行う赤字主体(借手)の発行する債務証書である本源的証券(直接証券，第一次証券ともいう)を取得し，赤字主体の資金調達に向ける。…

※「間接証券」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報