from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. An act of coming between; an intervention.
- n. Intervention; interposition.
from the GNU version of the Collaborative International Dictionary of English
- n. The act of coming between; intervention; mediation; interposition.
from The Century Dictionary and Cyclopedia
- n. The act of intermediating, or the state of being intermediate; intervention; interposition; intermediacy.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. the act of intervening for the purpose of bringing about a settlement
Since the word "intermediation" means that a company accepts deposits and then lends them to others, that fancy word in the strategy simply states the obvious: It's a bank.
That the brave new world has all-of-the-above kind of people in't, communicating as peers rather than through hierarchy and intermediation, is in most ways cause for celebration.
It limits them to their legitimate purpose, namely intermediation as opposed to gambling.
He knows that an inverted yield curve severely and nearly instantly renders unprofitable most financial intermediation, which is the process of "borrowing short to lend long."
And then generally, we and all remaining commercial banks to survive are going to face a really positive 20 years of re-intermediation as we move from 35 years of dis-intermediation of commercial banking balance sheet out into these capital markets, we are getting ready to go through 15 years of re-intermediation, which is going to be a phenomenal opportunity.
This allows the US to act as banker to the world, skimming off an "intermediation" fee that allows positive returns on portfolio maturity and quality composition.
As it turns out, what Bogle calls financial "intermediation" costs would have eaten up just 28% of your total returns ($35,000 out of $125,000) in my hypothetical fund.
(I suppose it goes without saying that we're living in a remarkable time when we can develop this sort of a dialog on a Web site: Belk may be a marketing VP, but this set of exchanges is something akin to a Cluetrain excursion in which we're all listening to each other and responding without the kind of intermediation which distorts technology and points of view.)
How to fix bank intermediation is a long story for another time.
That the American system of bank intermediation is essentially broken is reflected in the sharp fall in interbank lending: Interbank loans outstanding in March 2011 were only a third of their level in May 2008, just before the crisis hit.