论利率市场化下的利率互换功能与风险  

The Functions of Interest Rate Swap and Its Risk in the Marketization of Interest Rate

作　　者：殷洁[1] 

机构地区：[1]江西财经大学法学院,江西南昌330013

出　　处：《现代财经（天津财经大学学报）》2005年第12期24-27,共4页Modern Finance and Economics：Journal of Tianjin University of Finance and Economics

摘　　要：随着一系列利率改革措施的颁布实施,我国利率市场化进程正在加速。我国已初步建立市场利率形成机制和市场利率体系。利率市场化催生利率互换,利率互换有利于规避利率风险、降低融资成本、资产负债管理和完善利率定价机制。但是,利率互换存在法律和政策风险、基础协议的效力风险、履约风险以及利率本身的风险。With the promulgation and execution of a serial of regulations and policy related in the interest rate reformation, the procession of marketization of interest rate is speeding up in our country. China has primarily set up the mechanism of market - orientation interest rate and the system of market interest rate. The marketization of interest rate urges interest rate swap. Interest rate swap is of great benefit to avoiding the risk of interest rate, reducing the cost of financing, managing assets and debts, and perfecting the mechanism of price of interest. However, interest rate swap exists the risk of law and policy, the risk of legal validity of the basic contracts, the risk of performing of contract duty, and the risk of interest rate itself.

关 键 词：利率 利率互换 利率风险 金融衍生产品 

分 类 号：F831.59[经济管理—金融学]