By their nature, banks borrow short ( from depositors or the wholesale markets ) and lend long.

银行出于天性借短期 ( 从储户及资金批发市场 ) 贷长期.

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Since banks borrow short and lend long, their margins are higher when the curve is steep.

因为银行的存款是短期的,而贷款是长期的,收益曲线越陡峭, 他们的利润越高.

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