德国联邦银行货币政策工具的改革与完善（reform and perfection of german federal bank's monetary policy tools）

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1、德国联邦银行货币政策工具的改革与完善（ReformandperfectionofGermanFederalBank'smonetarypolicytools）...in2years......A...ThereformandperfectionoftheGermanFederalBank'smonetarypolicytoolsGuangWenheAbstractthearticleintroducesthemajormonetarypolicyinstrumentsofthefederalbank,andanalyzesthedevelopmentofthese

2、policyinstrumentsChangesandtheirrespectivefunctions.TheFederalBankingActprovidesthatthefederalbankmayInmanyways,throughtheinterestrateandcapitalmarketfundsThetaskofregulatingthesituationtoaccomplishitsmonetarycontrol.thisFromthelegallimitoftheGermanFederalBankmonetarypolicyApolicyTheu

3、seoftoolsshouldnotaffectthefreemovementofmarketforcesTocompetefreelywiththefinancialsector,therefore,theGermanFederationBanksdonothavedirectrestrictionsonthecreditneedsofnonbankingsectorsThepossibilityofnotimplementingcreditscalerestrictions,NorembraceInterestratesdirectlyondeposits,c

4、reditandsecuritiesmarketsThepossibilityofadministrativeintervention.FederalbankcurrencypolicyTherealizationofthepolicytargetcanonlybecarriedoutforcommercialbanksRegulationofsexualreservesandinterestratemechanismsforfinancialmarketsAndindirectlycontrolthecreditsupplyofcommercialbanksCa

5、pacityandeconomicsectorcredit,moneydemandapproach.byThisway,theBundesbankwillplayitsmonetarypolicytoolsfromplayThewaysofactionaredividedintointerestrateadjustment,policytoolsandflowMobilityadjustmentpolicytools.TheformerreferstothetraditionaldiscountandMortgagepolicytools.Recentyears,

6、AbondwithabuybackagreementThesecuritiesbusinessofastatebank,alsoknownassecuritiesTheinterestratealsoplaysanimportantroleinthelodgingbusiness..ItoftengivesmarketparticipantsinterestratesontheFederalBankExpectationsofpolicychange."Classic"liquidityregulationPolicyinstrumentsmainlyrefert

7、otheminimumdepositreservepolicyworkerhave.inadditionFederalbanks'rediscountofcommercialbanksandTheamountandqualityofmortgagecreditalsofallsintothiscategoryOneSeveral....RecentyearsTheuseofsuchtoolshasbeenadvancedStepbystep.TheBundesbankalsousesitsmonetarypolicytoolsDistinguishthetools

8、fromt