摘要
随着我国银行间债券市场的蓬勃发展,现有的债券品种越来越不能满足市场需要,尤其是短期债券的严重缺乏,可能会影响央行的公开市场业务操作和商业银行的流动性管理。因此,有必要发展本息拆离债券,以推动中长期国债和政策性金融债券的发行,活跃银行间债券市场的交易,更快地形成货币市场的基准利率。
Because of the fast growing demand for bonds, especially for short-termed securities, STRIPS must be created, with which the central bank can use open market operations and commercial banks can control their liquidity risk with facility. And STRIPS is propitious to prosper CHIBBM and form benchmark interest rate of money matket.
出处
《华南金融研究》
2003年第2期32-35,共4页
South China Financial Research
关键词
本息拆离债券
银行间债券市场
债券回购
短期债券
流动性管理
商业银行
基准利率
China Interbank Bond Market( CHIBBM)
Separate Trading of Registe Red Interest and Principal Securities (STRIPS)
Repurchase Agreement ( Repo)