n. 非居间化(指由储蓄银行存款转为直接的证券投资)

In section 6 we analyze fundamental reason for the declining growth in China, financial disintermediation. 在第六部分，我们分析了中国经济增长放缓，金融脱媒的基础原因。

Therefore,“financial disintermediation”will urge the banks to develop innovation. 因此,“金融脱媒”将促进我国银行业金融创新的进程。

What lessons can be shared from deregulation, disintermediation and foreign competition? 他们能从外资管制的即将撤销，银行脱媒以及外资银行竞争中学到哪些经验呢？

Disintermediation is increasing and consumers increasingly understand that they have to pay for value-added services. 中介服务的功能正在削弱，同时，消费者明白他们必须为增值服务支付费用。

In other words, financial disintermediation has arisen with asset securitization in Taiwan. 意即银行在逾期放款比率增减时，并不会特别调整放款馀额占资产之比率。

S. financial markets.The surge in securitization brought about the disintermediation in the banking system. 证券化的突飞猛进导致了银行体系的非中介化。