中美货币政策工具比较研究

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1、中美货币政策工具比较研究2016年7月中美货币政策工具比较研究2016-7-20目录一、美国常规货币政策工具介绍......................................................................................................................31.公开市场操作（OpenMarketOperations，OMOs）.................................................................................

2、.32.贴现率（DiscountRate）..............................................................................................................................43.法定存款准备金（ReserveRequirements）................................................................................................44.准备金利息和超额准备金利息（

3、InterestOnRequiredBalancesAndExcessBalances）........................55.定期存款工具（TermDepositFacility）.....................................................................................................5二、美联储应对危机货币政策创新工具介绍........................................................................

4、..........................61.TAF（TermAuctionFacility）-弥补再贴现不足的流动性支持工具..........................................................72.TSLF（TermSecuritiesLendingFacility）-交换流动性差抵押债券..........................................................83.PDCF（PrimaryDealerCreditFacility）-允许通过贴现窗口向美联储借款......

5、.......................................94.AMLF（Asset-BackedCommercialPaperMoneyMarketMutualFundLiquidityFacility）-间接支持商业票据市场..............................................................................................................................................................95.CPFF（C

6、ommercialPaperFundingFacility）-恢复商业票据市场融资功能...........................................106.MMIFF（MoneyMarketInvestorFundingFacility）-直接支持货币市场................................................107.TALF（TermAsset-BackedSecuritiesLoanFacility）-激活信贷市场................................................

7、......10三、中国常规货币政策工具介绍.....................................................................................................................111.公开市场业务.........................................................................................................