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1、金融市场与机构题目：MoneyMarket姓名：胡金义学号：2014132127学院：外国语学院目录1.MoneyMarketsDefined……………………………………………………32.Functionsofthemoneymarket……………………………………………53.Participants…………………………………………………………………74.Commonmoneymarketinstruments……………………………………9MoneyMarketAbstract:Asmoneybecameacommodity,themoneymarkethasbecameac
2、omponentofthefinancialmarketsforassetsinvolvedinshort-termborrowing,lending,buyingandsellingwithoriginalmaturitiesofoneyearorless.Tradinginmoneymarketsisdoneoverthecounterandiswholesale.Itprovidesliquidityfundingfortheglobalfinancialsystem.Moneymarketsandcapitalmarketsarepartsoffinancialmar
3、kets.Theinstrumentsbeardifferingmaturities,currencies,creditrisksandstructure.Thereforetheymaybeusedtodistributetheexposure.Keywords:moneymarket；trading；funding.Themoneymarketplaysacrucialroleinfinancingbothinternalandinternationaltrade.Togetherwiththecapitalmarket,theyconstitutethecoreandm
4、ainbodyofonecountry’sfinancialmarket.China’smoneymarketwitnessesarapidgrowthin1998.Sincethen,China’smoneymarketkeepsflourishing.Tosomeextent,themoneymarketinChinaisaconsequenceoftheinitiationofthesocialistmarketeconomyandalsoitisthenaturalresultofthereforminChina’smarketeconomy.Withmorethan
5、onedecade’sdevelopment,themoneymarketinChinahasbeenshapedwithacertainscopeandhasformeditsownframeworkandsubmarketsincludingtheinterbank１４lendingandborrowingmarket,therepurchasemarket,thebondmarketandthebillmarket.Now,China’smoneymarketperformssignificanceinChina’sfinancialmarketandhasamajor
6、effectonmonetarypolicies.However,theliquiditytightnessthathappenedfromJune,2013soundsthealarmtousthatChina’smoneymarketisstillimmature.ThiseventreflectsabunchofdeficienciesinChina’smoneymarketandmakespeoplefeelcompelledtoreassesstheexistingmodeofChina’smoneymarketandseekforsolutionstowardst
7、heproblems.Actually,themarketshowedsignsoftightnesssincelateMay,2013,whileitexplodedonJune20,whentheShanghaiInterbankOfferedRateorShiborincreasedto13.44percent,exceedingeventhehighspostedduringthefinancialcrisisin2008andsettinganewrecordhighforthedecade.
