{"id":5512,"date":"2018-06-15T06:39:23","date_gmt":"2018-06-14T21:39:23","guid":{"rendered":"https:\/\/finance-gfp.com\/?p=5512"},"modified":"2024-08-25T17:21:28","modified_gmt":"2024-08-25T08:21:28","slug":"%e3%82%b7%e3%83%a3%e3%83%89%e3%83%bc%e3%83%90%e3%83%b3%e3%82%ad%e3%83%b3%e3%82%b0%e3%81%ae%e5%95%8f%e9%a1%8c%e7%82%b9%e3%82%92%e5%88%86%e3%81%8b%e3%82%8a%e3%82%84%e3%81%99%e3%81%8f%e8%a7%a3%e8%aa%ac","status":"publish","type":"post","link":"https:\/\/finance-gfp.com\/?p=5512","title":{"rendered":"\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u306e\u554f\u984c\u70b9\u3092\u5206\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac"},"content":{"rendered":"<p><span class=\"ymarker-s\">\u3053\u3061\u3089\u306e\u30da\u30fc\u30b8\u3067\u306f\u300c<span 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loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5513\" src=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/06\/shadow-banking.png\" alt=\"BIS\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u898f\u5236\" width=\"440\" height=\"454\" srcset=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/06\/shadow-banking.png 440w, https:\/\/finance-gfp.com\/wp-content\/uploads\/2018\/06\/shadow-banking-291x300.png 291w\" sizes=\"auto, (max-width: 440px) 100vw, 440px\" \/><\/p>\n<p>\uff08\u5b9f\u969b\u306fBIS\u304c\u898f\u5236\u3057\u3066\u3044\u308b\u9280\u884c\u306e\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f\u4e00\u822c\u4f01\u696d\u306e\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306e\u8a08\u7b97\u3068\u306f\u7570\u306a\u308a\u3001\u8cc7\u7523\u306e\u7a2e\u985e\u3054\u3068\u306b\u30ea\u30b9\u30af\u30a6\u30a7\u30a4\u30c8\u3092\u4e57\u3058\u3066\u8a08\u7b97\u3057\u307e\u3059\u3002\u3053\u3053\u3067\u306f\u8003\u3048\u65b9\u3092\u7406\u89e3\u3057\u3066\u3044\u305f\u3060\u304f\u305f\u3081\u306b\u4e00\u822c\u4f01\u696d\u306e\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u3068\u540c\u69d8\u306e\u30e2\u30c7\u30eb\u3067\u63b2\u8f09\u3057\u3066\u3044\u307e\u3059\uff09<\/p>\n<p>\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u304c\u306a\u3044\u3001\u3082\u3057\u304f\u306f\u3042\u3063\u3066\u3082\u898f\u6a21\u304c\u5c0f\u3055\u3044\u4e16\u754c\u3067\u306f\u56fd\u969b\u6c7a\u6e08\u9280\u884c\uff08BIS\uff09\u306e\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u898f\u5236\u3067\u4e16\u306e\u4e2d\u306e\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3059\u308b\u3053\u3068\u304c\u53ef\u80fd\u3067\u3057\u305f\u3002<\/p>\n<p>\u3061\u306a\u307f\u306b\u73fe\u5728\u306e\u56fd\u969b\u6c7a\u6e08\u9280\u884c\uff08BIS\uff09\u306e\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u898f\u5236\u306f\u30d0\u30fc\u30bc\u30eb\u2162\u3068\u547c\u3070\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u73fe\u5728\u3067\u306f\u8a3c\u5238\u4f1a\u793e\uff08\u6295\u8cc7\u9280\u884c\uff09\u3084\u30d5\u30a1\u30f3\u30c9\u3092\u306f\u3058\u3081\u3068\u3057\u3066\u69d8\u3005\u306a\u5f62\u3067\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u63d0\u4f9b\u3055\u308c\u3066\u304a\u308a\u3001\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u304c\u62e1\u5927\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><span 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class=\"ymarker-s\">\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u304c\u62e1\u5927\u3057\u904e\u304e\u308b\u3068\u4e16\u306e\u4e2d\u306b\u63d0\u4f9b\u3055\u308c\u308b\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u304c\u3067\u304d\u306a\u304f\u306a\u308b\u70b9\u304c\u5927\u304d\u306a\u554f\u984c\u3068\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p>\u610f\u56f3\u305b\u3056\u308b\u30d0\u30d6\u30eb\u304c\u751f\u3058\u305f\u308a\u3001\u7d4c\u6e08\u304c\u6df7\u4e71\u3059\u308b\u8981\u56e0\u3092\u4f5c\u308a\u51fa\u3059\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u3088\u3046\u306b\u300c\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u300d\u3068\u306f\u9280\u884c\u4ee5\u5916\u304c\u8cc7\u91d1\u3092\u51fa\u3057\u3066\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u3092\u8868\u3057\u307e\u3059\u3002<\/p>\n<p>\u6b21\u306b\u4ee3\u8868\u7684\u306a\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u3092\u7d39\u4ecb\u3057\u307e\u3059\u3002<\/p>\n<h2>\u4ee3\u8868\u7684\u306a\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u306e\u4f8b<\/h2>\n<p><span class=\"ymarker-s\">\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u3067\u898f\u6a21\u304c\u5927\u304d\u304f\u5206\u304b\u308a\u3084\u3059\u3044\u3068\u601d\u308f\u308c\u308b\u306e\u304c\u3001\u300c\u8a3c\u5238\u5316\u5546\u54c1\u300d\u3068\u300c\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3078\u306e\u30ec\u30d0\u30ec\u30c3\u30b8\u300d\u3067\u3059\u3002<\/span><\/p>\n<h3>\u8a3c\u5238\u5316\u5546\u54c1<\/h3>\n<p>\u8a3c\u5238\u5316\u5546\u54c1\u3067\u6700\u3082\u5206\u304b\u308a\u3084\u3059\u3044\u306e\u304c\u7c73\u56fd\u306e\u30d0\u30f3\u30af\u30ed\u30fc\u30f3\uff08\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30ed\u30fc\u30f3\uff09\u3067\u3059\u3002<\/p>\n<p>\u3082\u3061\u308d\u3093\u3001\u30d0\u30f3\u30af\u30ed\u30fc\u30f3\uff08\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30ed\u30fc\u30f3\uff09\u81ea\u4f53\u306f\u9280\u884c\u878d\u8cc7\u306a\u306e\u3067\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<p><span class=\"ymarker-s\">\u3057\u304b\u3057\u3001\u65e5\u672c\u306e\u9280\u884c\u3067\u306f\u307b\u3068\u3093\u3069\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u7c73\u56fd\u3067\u306f\u6bd4\u8f03\u7684\u4fe1\u7528\u529b\u304c\u4f4e\u3044\u4f01\u696d\u5411\u3051\u878d\u8cc7\u306e\u5927\u90e8\u5206\u304c\u8a3c\u5238\u5316\u3055\u308c\u3066\u5916\u90e8\u306b\u58f2\u5374\u3055\u308c\u307e\u3059\uff61<\/span><\/p>\n<p>\u30d0\u30f3\u30af\u30ed\u30fc\u30f3\u3068\u547c\u3070\u308c\u308b\u5e02\u5834\u304c\u78ba\u7acb\u3055\u308c\u3066\u304a\u308a100\u5146\u5186\u524d\u5f8c\u306e\u30de\u30fc\u30b1\u30c3\u30c8\u898f\u6a21\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30d0\u30f3\u30af\u30ed\u30fc\u30f3\u306b\u3064\u3044\u3066\u306e\u8a73\u3057\u3044\u8aac\u660e\u306f\u3053\u3061\u3089\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=70\" target=\"_blank\" rel=\"noopener noreferrer\">\u30d0\u30f3\u30af\u30ed\u30fc\u30f3\u30fb\u30aa\u30fc\u30d7\u30f3\/\u30d0\u30f3\u30af\u30ed\u30fc\u30f3\u306e\u6295\u8cc7\u74b0\u5883<\/a><\/li>\n<\/ul>\n<p>\u307e\u305f\u3001\u30d0\u30f3\u30af\u30ed\u30fc\u30f3\u306f\u30c8\u30e9\u30f3\u30b7\u30a7\u5206\u3051\u3055\u308c\u3066CLO\u3068\u3044\u3046\u5f62\u3067\u3082\u6d41\u901a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<ul>\n<li>CLO\u306b\u3064\u3044\u3066\u306e\u8a73\u3057\u3044\u8aac\u660e\u306f\u3053\u3061\u3089\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=2448\" target=\"_blank\" rel=\"noopener noreferrer\">CLO(\u30ed\u30fc\u30f3\u62c5\u4fdd\u8a3c\u5238)\u306e\u4ed5\u7d44\u307f\u3068\u30dd\u30a4\u30f3\u30c8\u3092\u5206\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac<\/a><\/li>\n<\/ul>\n<p>\u3053\u308c\u3067\u306f\u9280\u884c\u304c\u3044\u304f\u3089\u878d\u8cc7\u3092\u3057\u3066\u3082\u3001\u30ed\u30fc\u30f3\u50b5\u6a29\u3092\u5916\u90e8\u306b\u58f2\u5374\u3059\u308b\u306e\u3067\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u304c\u62e1\u5927\u305b\u305a\u3001\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f\u4f4e\u4e0b\u3057\u307e\u305b\u3093\u3002<\/p>\n<p>\u3064\u307e\u308a\u3001\u91d1\u878d\u5f53\u5c40\u304c\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3067\u304d\u306a\u3044\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u308c\u3089\u306e\u4ed5\u7d44\u307f\u306f\u7c73\u56fd\u3067\u306f\u4f01\u696d\u5411\u3051\u306e\u30d0\u30f3\u30af\u30ed\u30fc\u30f3\u3060\u3051\u3067\u306a\u304f\u3001\u81ea\u52d5\u8eca\u30ed\u30fc\u30f3\u30fb\u6d88\u8cbb\u8005\u30ed\u30fc\u30f3\u306a\u3069\u3067\u3082\u4e00\u5b9a\u306e\u5272\u5408\u3067\u5b58\u5728\u3057\u307e\u3059\u3002<\/p>\n<p>\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u306e\u5f15\u304d\u91d1\u3068\u306a\u3063\u305f<strong>\u30b5\u30d6\u30d7\u30e9\u30a4\u30e0\u30ed\u30fc\u30f3<\/strong>\u306f\u8a3c\u5238\u5316\u3055\u308c\u3066\u3001CLO\u304c\u4e16\u754c\u4e2d\u306b\u30d0\u30e9\u307e\u304b\u308c\u3066\u3044\u305f\u3053\u3068\u304c\u6df7\u4e71\u306e\u8981\u56e0\u3068\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n<p>\u307e\u305f\u3001\u4e2d\u56fd\u3067\u554f\u984c\u8996\u3055\u308c\u3066\u3044\u308b\u300c<strong>\u7406\u8ca1\u5546\u54c1<\/strong>\u300d\u3082\u8a3c\u5238\u5316\u5546\u54c1\u306e\u4e00\u7a2e\u3067\u3059\uff61<\/p>\n<p>\u7406\u8ca1\u5546\u54c1\u306e\u6295\u8cc7\u5bfe\u8c61\u306f\u4e00\u822c\u306e\u793e\u50b5\u304b\u3089\u4e2d\u5c0f\u4f01\u696d\u5411\u3051\u878d\u8cc7\u3001\u4e0d\u52d5\u7523\u5411\u3051\u878d\u8cc7\u7b49\u3001\u591a\u5c90\u306b\u6e21\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u3088\u3046\u306b\u8a3c\u5238\u5316\u3055\u308c\u3001\u5916\u90e8\u306b\u58f2\u5374\u3055\u308c\u308b\u3053\u3068\u3067\u3001\u91d1\u878d\u6a5f\u95a2\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u62e1\u5927\u3059\u308b\u3053\u3068\u306a\u304f\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u63d0\u4f9b\u3055\u308c\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3>\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3078\u306e\u30ec\u30d0\u30ec\u30c3\u30b8<\/h3>\n<p><span 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href=\"https:\/\/finance-gfp.com\/?p=518\" target=\"_blank\" rel=\"noopener\">\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u306e\u5168\u3066\u3092\u308f\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac<\/a><\/li>\n<li>\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u306e\u904b\u7528\u8cc7\u7523\u898f\u6a21\u306e\u63a8\u79fb\u306f\u3053\u3061\u3089\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=1215\" target=\"_blank\" rel=\"noopener 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\u7c73\u56fd\u3067\u306f &#8230; 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