现代最后贷款人操作规则的创新与发展

Challenges and Development of Operational Principles of the Modern Lender of Last Resort

随着金融一体化趋势下金融危机频率加快、国际蔓延性增强以及对各国经济影响增大,各国央行运用最后贷款人职能应对危机的实践也日益丰富起来,从而对传统最后贷款人的操作原则形成直接的挑战与质疑,促成现代最后贷款人制度的创新与发展。论文分析并评述了最后贷款人的主体、客体、利率及方式等。

With the world＇s financial integrating, financial crises speeding up and spreading out internationally as well as their economic impact increasing, central hanks＇practices as the lender of last resort to deal with the crisis has become more abundant. These practices have brought about direct suspicion and challenges to the theory of traditional lender of last resort and consequently resulted in the renovation and development of the modern lender of last resort. This article makes a comprehensive exposition and a brief comment upon the subject, the object, the interests and means of the lender of last resort.