投資銀行和商業銀行是現代金融市場中兩類最重要的中介機構，從本質上來講，投資銀行和商業銀行都是資金盈余者與資金短缺者之間的中介，一方面使資金供給者能夠充分利用多余資金以獲取收益，另一方面又幫助資金需求者獲得所需資金以求發展。從這個意義上來講，二者的功能是相同的。
　　然而，在發揮金融中介作用過程中，投資銀行的運作方式與商業銀行有很大的不同，投資銀行是直接融資的金融中介，而商業銀行是間接融資的金融中介。投資銀行作為直接融資的中介，僅充當中介人的角色，它為籌資者尋找合適的融資機會，為投資者尋找合適的投資機會。但在一般情況下，投資銀行并不介入投資者和籌資者之間的權利和義務之中，只是收取傭金，投資者與籌資者直接擁有相應的權利和承擔相應的義務。例如投資者通過認購企業股票投資于企業，這時投資者就直接與企業發生了財產權利與義務關系，但投資銀行并不介入其中因此這種融資方式稱作“直接融資方式”。
　　商業銀行則不同，商業銀行同時具有資金需求者和資金供給者的雙重身份，對于存款人來說它是資金的需求方，存款人是資金的供給者；而對于貸款人而言銀行是資金供給方，貸款人是資金的需求者。在這種情況下，資金存款人與貸款人之間并不直接發生權利與義務，而是通過商業銀行間接發生關系，雙方不存在直接的合同約束，因此這種融資方式稱作“間接融資方式”。
　　除了功能上的差別外，投資銀行和商業銀行還有其他方面的區別。我們可以用從以下六個方面對投資銀行和商業銀行進行簡要的比較：
　　（1）從融資的方式來看：正如我們前面所討論的，投資銀行進行的是直接融資，并側重長期融資；而商業銀行
　　（2）從基礎業務來看：投資銀行的基礎業務是證券承銷，而商業銀行的基礎業務是存貸款。
　　（3）從業務活動的領域來看：投資銀行主要是在資本市場開展業務；而商業銀行主要是在貨幣市場開展業務。
　　（4）從利潤的來源來看：投資銀行是靠收取客戶支付的傭金；而商業銀行靠的是存貸款之間的利率差。
　　（5）從經營的理念上來看：投資銀行的經營理念是在控制風險的前提下，穩健與開拓并重；而商業銀行追求的是安全性、盈利性和流動性的結合，必須堅持穩健性的原則。
　　（6）從監管機構來看：投資銀行的監管機構主要是證券監督委員會之類的機構；而商業銀行主要是受中央銀行的監督和管理。
　　英文原文：
　　Investment banks and commercial banks in modern financial markets two of the most important intermediaries, in essence, investment banks and commercial banks are short of funds and capital surplus were intermediate between the one hand, suppliers of funds to fully use of surplus funds for income, on the other hand those who help the financial needs in order to develop the necessary funds. In this sense, the two functions are the same.
　　However, in the process of financial intermediation, investment banks and commercial banks operate are very different, the investment banks are financial intermediaries direct financing, indirect financing commercial banks are financial intermediaries. Investment banks as financial intermediaries directly, only as an intermediary, it is those who find the right financing funding opportunities for investors to find suitable investment opportunities. However, in general, investment banks do not intervene between investors and fund-raising among the rights and obligations, only a commission, the direct investor and fund-raisers have the appropriate rights and undertake corresponding obligations. For example, investors in companies through equity investments in the enterprise subscription, when investors place on the property directly with the companies the rights and obligations, but the investment bank does not intervene so the financing method known as "direct financing."
　　Different commercial banks, commercial banks also have financial needs and funding provider of the dual role for the depositors of funds it is the demand side, deposits are suppliers of funds; the people, for bank loans, capital supply side, the needs of lenders who are funding. In this case, the funds of depositors and borrowers are not directly occur between the rights and obligations, but a relationship indirectly through commercial banks, they have no direct contractual constraints, so this financing method known as "indirect financing . "
　　In addition to functional differences, the investment banks and commercial banks, there are other differences. We can use the following six investment banks and commercial banks on a brief comparison:
　　(1) the way from the financing perspective: As we discussed earlier, the investment bank is the direct financing, and focus on long-term financing; while commercial banks
　　(2) from the basic business terms: the basis for investment banking business is securities underwriting, and commercial banks deposit and lending business is based.
　　(3) from business activities in the field of view: the major investment banks operating in the capital markets; and commercial banks, primarily in money market operations.
　　(4) view from the source of profit: Investment banks are charging customers to pay by commission; by commercial banks is the interest rate differential between deposits and loans.
　　(5) from the point of view the concept of business: investment banking business philosophy is the premise of risk control, sound and open up both; and commercial banks to pursue the security, profitability and liquidity of the combination, you must adhere to the robustness of principle.
　　(6) from the regulatory agencies of view: the major investment banks, regulators like the Securities Commission is the body; while commercial banks are mainly due to central bank supervision and management.
 　　FRM官方微信　　
　　掃一掃微信，*9時間獲取2014年FRM考試報名時間和考試時間提醒
　　
　　高頓網校特別提醒：已經報名2014年FRM考試的考生可按照復習計劃有效進行！另外，高頓網校2014年FRM考試輔導高清課程已經開通，通過針對性地講解、訓練、答疑、模考，對學習過程進行全程跟蹤、分析、指導，可以幫助考生全面提升備考效果。
　　報考指南：2014年FRM考試報考指南
　　免費題庫：2014年FRM考試免費題庫
　　考試輔導：FRM考試招生專題
　　高清網課：FRM考試網絡課程