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It is important to recognize that form does not necessarily follow function in bank deposits. A considerable number of depositors still keep their liquidity reserves -- and, in the case of individuals, even their savings--in the form of idle demand deposits. The past reluctance of some banks to seek time deposits aggressively stemmed from their appraisal of the degree to which depositors kept a portion of their liquidity reserves in noninterest-bearing demand deposits. Conversely, some individuals may try to keep their working balances in savings accounts, although commercial banks discourage this practice because of the resulting abnormally high, costly account activity.要认识到银行存款的形式不一定依照功能而定是重要的。很多储户仍然保持其流动性储备，而且，就个人而言，甚至以闲置的活期存款形式持有储蓄。过去有的银行不愿意吸收定期存款，主要起因于他们对储户以无息活期存款的形式持有一部分流动准备级别的评估。相反，有些储户会设法在储蓄账户中持有其流动资金，尽管商业银行不允许这种做法，因为这样做会导致极不正常的、成本很高的账户活动。Essentially, demand deposits are likely to represent working balances; time deposits (other than savings deposits)(2) usually consist of the liquidity reserves of corporations, including municipalities and foreign banks, and of individuals when banks offer higher rates on longer-term certificates of deposit. Savings deposits are likely to represent a combination of accumulated savings and investment funds or liquidity reserves of individuals.从基本原理看，活期账户很容易反映流动资金；在银行对长期存款提供较高利率的情况下，定期存款（而不是储蓄存款）通常由企业，包括市政单位、外国银行和个人等的流动资金储备所组成。储蓄存款很容易反映个人的储蓄与投资基金增加或流动资金储备的组合情况。Because commercial banks are the primary source of commercial and industrial loans and because they operate the payments or check collection system, they have little competition for the deposits that represent purely working balances. This is the bread-and-butter business of the commercial banking system. For investment funds and savings deposits, the competition is very keen and has grown keener with the postwar rise in interest rates.因为商业银行是工商业贷款的主要来源，银行经营着支付或支票托收系统，所以他们对代表纯流动资金的存款很少竞争。这是商业银行业的谋生业务。对投资基金和储蓄存款，他们的竞争是非常激烈的，而且对战后利率的上升越来越敏感。Savings banks and savings and loan associations are permitted by regulation to pay one-fourth of a percent more on savings deposits under $100,000 than are commercial banks, on the theory that they are the major suppliers of mortgage money to homeowners and the building industry. There is a great deal of agitation to remove this differential, especially since in many jurisdictions the savings institutions are permitted to accept demand deposits.银行条例允许储蓄银行和储蓄贷款协会对100,000美元以下的储蓄存款支付利息的百分比比商业银行高出1/4，其理论依据是他们是购房者及建筑业抵押贷款的主要供应者。要废除这些差异会产生大量不安的因素，尤其是在许多规管条例中，允许储蓄机构吸收活期存款。Notes(2):Regulation Q of the Board of Governors of the Federal Reserve System distinguishes between “time certificate of deposit" with fixed maturity and "time deposits open account" subject to stated notice of withdrawal. It provides further that "savings deposits" may be held only for individuals and certain nonprofit organizations engaged in charitable, educational, and similar activities.注（2）：联邦储备系统董事会颁布的Q条例将有固定存款期限的“定期存款单”与受明确取款通知限制的“定期存款未清账户”区分开来。它还进一步规定，储蓄存款只能由个人及某些从事慈善、教育，及类似业务的非盈利组织持有。 |
