本文選題：央行逆回購(gòu) + 貨幣供應(yīng)量　； 參考：《山西財(cái)經(jīng)大學(xué)》2014年碩士論文

【摘要】：當(dāng)前，國(guó)內(nèi)要求經(jīng)濟(jì)穩(wěn)增長(zhǎng)，國(guó)外量化寬松政策不斷強(qiáng)化，我國(guó)央行卻頻繁使用公開(kāi)市場(chǎng)逆回購(gòu)操作，而非傳統(tǒng)手段——降低存款準(zhǔn)備金率、減息。這正是由于逆回購(gòu)與其他貨幣政策工具相比，具有溫和中性、靈活機(jī)動(dòng)的特點(diǎn)。 央行最近公布的貨幣政策執(zhí)行報(bào)告透露出了央行貨幣政策變化的新動(dòng)向：逆回購(gòu)成為銀根調(diào)節(jié)的首位貨幣政策工具，且短期內(nèi)央行將主要運(yùn)用逆回購(gòu)進(jìn)行貨幣政策的調(diào)控；同時(shí)，央行將主要通過(guò)公開(kāi)市場(chǎng)操作這一重要貨幣政策組合對(duì)流動(dòng)性實(shí)施管理。 央行通過(guò)逆回購(gòu)直接將資金注入銀行體系，在確保商業(yè)銀行擁有充足的、可供投放的資金，使得微觀經(jīng)濟(jì)主體的信貸需求得到滿足的同時(shí)，通過(guò)對(duì)貨幣供應(yīng)量、利率、公眾預(yù)期等發(fā)生作用，也對(duì)商業(yè)銀行的資產(chǎn)負(fù)債產(chǎn)生了顯著的影響。然而，面對(duì)央行逆回購(gòu)操作，我國(guó)商業(yè)銀行資產(chǎn)與負(fù)債結(jié)構(gòu)單一，且資產(chǎn)與負(fù)債在規(guī)模和期限上缺乏匹配，同時(shí)商業(yè)銀行風(fēng)險(xiǎn)意識(shí)淡薄，，資產(chǎn)負(fù)債管理方法單一。這些都為商業(yè)銀行科學(xué)應(yīng)對(duì)央行宏觀調(diào)控，保證利潤(rùn)水平，持續(xù)經(jīng)營(yíng)發(fā)展埋下了隱患。 因此，本文將在深入探討與分析我國(guó)央行逆回購(gòu)背景、商業(yè)銀行經(jīng)營(yíng)環(huán)境的基礎(chǔ)上，通過(guò)對(duì)商業(yè)銀行資產(chǎn)負(fù)債管理相關(guān)理論和國(guó)外商業(yè)銀行先進(jìn)資產(chǎn)負(fù)債管理體系及科學(xué)技術(shù)的研習(xí)，對(duì)比我國(guó)商業(yè)銀行與國(guó)外商業(yè)銀行在資產(chǎn)負(fù)債方面的差異，并在借鑒國(guó)外商業(yè)銀行資產(chǎn)負(fù)債管理經(jīng)驗(yàn)的同時(shí)，切實(shí)分析我國(guó)商業(yè)銀行的實(shí)際內(nèi)、外部經(jīng)營(yíng)環(huán)境以及其自身經(jīng)營(yíng)發(fā)展需求，希望通過(guò)在資產(chǎn)調(diào)整方面、負(fù)債調(diào)整方面和資產(chǎn)負(fù)債綜合調(diào)整方面針對(duì)商業(yè)銀行資產(chǎn)負(fù)債調(diào)整與管理提出的意見(jiàn)和建議，為我國(guó)商業(yè)銀行積極應(yīng)對(duì)央行逆回購(gòu)業(yè)務(wù)操作、持續(xù)經(jīng)營(yíng)、穩(wěn)定發(fā)展提供一些幫助。
[Abstract]:At present, the domestic demand economy steady growth, the foreign quantitative easing policy strengthens unceasingly, but our country central bank frequently uses the open market reverse repurchase operation, rather than the traditional means-reduces the deposit reserve ratio, reduces the interest rate. This is due to reverse repurchase compared with other monetary policy instruments, with mild neutral, flexible characteristics. The recent report on the implementation of monetary policy released by the central bank reveals the new trend of the change of the central bank's monetary policy: reverse repurchase is the first monetary policy tool for monetary regulation, and the central bank will mainly use reverse repurchase for monetary policy control in the short term; At the same time, the central bank will mainly through open-market operations this important monetary policy portfolio to implement liquidity management. The central bank directly injects funds into the banking system through reverse repurchase. While ensuring that commercial banks have sufficient funds available for investment, so that the credit needs of microeconomic entities are met, through money supply, interest rates, The effect of public expectation also has a significant impact on the assets and liabilities of commercial banks. However, facing the reverse repurchase operation of the central bank, the structure of assets and liabilities of commercial banks in China is single, and the scale and duration of assets and liabilities are not matched. At the same time, the risk consciousness of commercial banks is weak, and the management method of assets and liabilities is single. These are the commercial banks scientific response to the central bank macro-control, ensure the level of profits, sustainable business development buried hidden dangers. Therefore, this paper will discuss and analyze the background of China's central bank reverse repurchase and the business environment of commercial banks. By studying the theory of asset liability management of commercial banks and the advanced asset liability management system and science and technology of foreign commercial banks, this paper compares the differences between Chinese commercial banks and foreign commercial banks in terms of assets and liabilities. While drawing lessons from foreign commercial banks' experience in asset and liability management, this paper analyzes the actual and external operating environment of Chinese commercial banks and their own business and development needs, hoping that through the adjustment of assets, The opinions and suggestions for the adjustment and management of the assets and liabilities of commercial banks in the aspects of liability adjustment and comprehensive adjustment of assets and liabilities are helpful for our commercial banks to actively deal with the reverse repurchase business operations of the central bank and continue to operate. Steady development provides some help.
【學(xué)位授予單位】：山西財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F830.42

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