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The high-rolling investment bank courts small depositorsApr 30th 2016 | NEW YORK | From the print edition TO THE extent that Goldman Sachs has anything to do with the little guy, it is usually accused of trampling over him in pursuit of profit. As an investment bank, Goldman had not sought out deposits and the onerous regulation that comes with them. In recent years it has declined even to manage assets for clients with less than $10m, in the hope of escaping rules regarding “unsophisticated investors”. Yet all that changed in mid-April, when it completed its purchase of GE’s internet-banking subsidiary. That brought it $16 billion in retail deposits. It is now soliciting more, offering generous interest (by today’s miserly standards) on balances of as little as $1.就某种程度而言，高盛投资公司与小额存户存在的关系就是高盛公司经常因在追求利益时践踏小额存户利益而经常遭到控诉。作为一家投资银行，高盛投资公司既不找存款资金，也不履行与之随行繁多的规章制度。近年来，它甚至拒绝管理那些少于100万美元委托人的资产，借此希望避免那些就 “不懂投资的投资者”而言的规则约束。然而4月中旬这一切全改变了，当它一举收购美国通用电气公司的网上银行子公司，这给它带来了1.6亿美元的小额零星存款。随着它现在收入存款增多，它将提供丰富的利率（就今日苛刻标准而言）—余额低到只需要1美元（就可以获得）。Admittedly, Goldman already held $88 billion in deposits. But those were either the cash holdings of the millionaire customers of its wealth-management arm, or accounts steered to it in wholesale batches via middlemen. Online deposits at GS Bank, as the internet bank is known, earn annual interest of 1.05%. That is only a bit less than the 1.11% offered by Dime Savings Bank of Williamsburgh, a tiny New York bank that is America’s most generous deposit-taker according to Bankrate.com, a comparison website. But it is considerably more than the 0.75% paid by Capital One, America’s biggest online bank. It is more than double the 0.49% Goldman pays on its existing deposits. And it is many times the rates big banks pay on conventional savings or current accounts.不可否认的是，高盛投资公司已经拥有880亿存款。但是这些要么是其财富管理部门管理的百万资产客户所持有的现金库存，要么是通过中介人操控的一系列批发账户。作为众所周知的网上银行，在高盛网上投资银行存放的存款可获得1.05%的年利率。这只略低于Dime Savings Bank of Williamsburgh提供的1.11%，这家小型纽约银行据利率比较网站银率网统计是美国最慷慨的储蓄银行。但是它的利率大大超出美国最大网上投资银行—第一资本金融公司提供利率的0.75%，比高盛集团给现有存款利率的两倍还高出0.49%,同时是其他大银行支付传统存款或现有账户的数倍。Compared with borrowing on the bond market, however, it is cheap. Goldman has $175 billion in long-term debt, with an average annual interest rate of 4.6%, according to Morningstar, a research firm. The two are not strictly comparable: deposits involve higher administrative costs and payments to America’s deposit-insurance fund. They can also be withdrawn at will, whereas Goldman’s debt has an average duration of seven years.然而，与债券市场上的借贷相比，这个利率是十分低的。据调查公司晨星机构报道，高盛背负1750亿美元的长期债券，平均年利率为4.6%。这两者没有很强的可比性：存款包括愈高的管理成本及向美国存款保险基金缴纳款项。这两项都可以随意被提现，而高盛发行的债券期限为七年。In practice, ordinary savers seldom withdraw their money in a panic, since deposits of $250,000 or less are insured. That is in stark contrast to short-term investors in the bond markets, who sometimes rush to sell at the first whisper of trouble, leaving banks less able to borrow. At any rate, regulators are encouraging banks to seek deposits under various new rules designed to ensure that banks do not suffer liquidity crises.事实上，普通存户一般不会在混乱的时候撤回资金，因为少于2.5万美元的存款能得到保障。这与债券市场的短期债券投资人形成鲜明对比，他们经常一听见风声就马上抛售，使得银行无法借贷。无论如何，管理机构都鼓励银行运用各种各样新型规则寻求存款资金，使得其免于流动性危机。Goldman has not said what it will do with the money GS Bank attracts. Some speculate that they will be used to fund Mosaic（马赛克）, its embryonic online-lending business, which plans to dish out modest sums to individuals and small businesses. The idea of Goldman as a savings bank and lender to the masses may seem somewhat incongruous, but GS Bank and Mosaic are not its first forays into the finances of the 99%.In March it bought Honest Dollar, an online provider of retirement accounts through which companies help their employees to save. It charges low and transparent fees to make investments in inexpensive exchange-traded funds. For years Goldman has courted only those at the top of the heap. Now, apparently, it sees opportunity at the bottom.高盛对它将怎样处理美国通用电气公司吸收的资产并未说明。一些人预测这将用于建立马赛克，它所有的一家尚处在萌芽时期的网上借贷业务，它主要目的是为个人及小型企业提供适度资金。人们对高盛作为储蓄银行及贷款机构这一点可能感觉有一点不适应，但是这不是高盛和马赛克第一次进军99%的普通大众。期待您的翻译，您可以将翻译留言到文章底部，第二天会有答案解析哦。它收取低廉且透明的交易费用来投资一些可以交易的低价基金。过去，高盛只服务那些上层人群，而现在它逐渐看到了底层发展的机会。
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