Нужен переводRelationship banking can help to minimise principal agent and adverse

Нужен перевод

Relationship banking can help to minimise principal agent and adverse selection problems. Lender and borrower are said to have arelational contract if there is an understanding between both parties that it is likely to be some time before certain characteristics related to the contract can be observed. Over an extended period of time, the customer relies on the bank to supply nancial services. The bank depends onlong-standing borrowers to repay their loans and to purchase related nancial services. A relational contract improves information ows between the parties and allows lenders to gain specic knowledge about the borrower. It also allows for exibility of response should there be any unforeseen events.
However, there is more scope for borrower opportunism in a relational contract because of the information advantage the borrower normally has. The Jurgen Schneider/Deutsche Bank case is a good example of how relationship banking can go wrong. Mr Schneider, a property developer, was a long-standingcorporate client of Deutsche Bank. Both parties proted from an excellent relationship over a long period of time. However, when the business empire began to get into trouble, Schneider was able to disguiseever-increasinglarge debts in his corporation because of the good record and long relationship he had with the bank. Schneider forged loan applications and other documents to dupe Deutsche and other banks into agreeing additional loans.