【多选题】Why do banks and other financial intermediaries exist in modern society, according to the theory of finance?
A.
The traditional view of banks as financial intermediaries sees them as simultaneously fulfilling the financial-service needs of savers (surplus-spending units) and borrowers (deficit-spending units), providing both a supply of credit and a supply of liquid assets.
B.
A newer view sees banks as delegated monitors who assess and evaluate borrowers on behalf of their depositors and earn fees for supplying monitoring services.
C.
Banks accept risky loans from borrowers while issuing low risk securities to their depositors.
D.
Banks have been viewed in recent theory as suppliers of liquidity and transactions services that reduce costs for their customers and, through diversification, reduce risk.