中美货币政策工具比较研究.pdf

《中美货币政策工具比较研究.pdf》由会员上传分享，免费在线阅读，更多相关内容在行业资料-天天文库。

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

3、准备金利息（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

5、向美联储借款.............................................94.AMLF（Asset-BackedCommercialPaperMoneyMarketMutualFundLiquidityFacility）-间接支持商业票据市场........................................................................................................................................................

6、......95.CPFF（CommercialPaperFundingFacility）-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.........................................................................................................