Money pp 144-145 | Cite as


  • Charles Goodhart
Part of the The New Palgrave book series (NPA)


‘Intermediation’ generally refers to the interposition of a financial institution in the process of transferring funds between ultimate savers and ultimate borrowers. The forms of services that such financial intermediaries provide, the characteristics of their liabilities and assets, and the rationale for their existence is described elsewhere. For this purpose, we only need to assume that a certain pattern of financial intermediation is given, say by actual historical development, or is theoretically optimal.

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© Palgrave Macmillan, a division of Macmillan Publishers Limited 1989

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  • Charles Goodhart

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