开展利率互换交易亟待解决的几个问题

Problems to be resolved in interest rate swaps

自人民币利率互换交易的试点以来。虽然各家机构部衰现出了极大的兴趣。但市场成交始终未见活跃。笔者认为。缺乏公允的即期利率曲线和浮动利率基准、信用风险难以度量和税收会计制度不明确等问题是阻碍利率互换交易发展的几个亟待解决的问题．需要相关部门对此进行相应的政策扶持。

In spite of institutions＇ great interest in RMB interest rate swaps since they were piloted, the market has never recorded substantial transactions, This paper suggests that such problems as lack of spot rate curves and floating rate benchmark, immeasurable credit risk as well as indefinite tax and accounting systems all hinder the development of interest rate swaps trading, thus necessitating policy support from related sectors.