摘要
本文阐述了买断式回购的功能和法律内涵,并在此基础上对我国银行间债券市场买断式回购的保证金/券的管理、收益率计算、会计处理和税收政策进行了详细分析。买断式回购近一年来的市场表现并不活跃,本文认为主要原因在于会计处理方式不明确,功能不够完善,影响市场成员的参与积极性。本文最后提出了买断式回购下一步的发展建议。
Based on clarification of functions and legal implication of bond buy back in China, the author made an in- depth study of the inter-bank bond market practice concerning treatment of cash deposit andsecurities, calculation of yield, accounting treatment and tax policies. It is pointed out that the lackluster performance of buy back practice in China in the past 18 months lies in the fact that a lack of clear accountingtreatment and its inadequate functions undermined the incentives of market participants. Suggestion is put forward to address the above issues.
出处
《证券市场导报》
北大核心
2005年第6期47-56,共10页
Securities Market Herald
