联邦基金利率发展经验及对Shibor推广的启示(下)  

Federal funds rate:Development and implication for promoting Shibor(Ⅱ)

作　　者：吴玮[1] 

机构地区：[1]中国外汇交易中心市场二部

出　　处：《中国货币市场》2007年第9期30-33,共4页China Money

摘　　要：联邦基金利率是联邦基金市场上的隔夜拆借利率,是美国最重要的基准利率。联邦基金利率不仅是美联储公开市场操作的目标,也是各种短期融资工具、信贷产品、浮息债券及利率衍生品的定价基准。该文探讨了联邦基金利率发展的成功经验,取他山之石筑本土之堤,希望能对我国银行间市场基准利率建设和推广有所裨益。As the overnight interest rate in the Federal funds market, the federal funds rate is the most important benchmark rate in the United States. It is not only the target employed by the FED for open market operations, but also the benchmark for pricing various shortterm funding tools, credit products, floating bonds and interest rate derivatives. This paper discusses the successful experiences in the development of the federal funds rate, which is hoped to facilitate the construction and promotion of the benchmark interest rate in China＇s interbank market.

关 键 词：SHIBOR 联邦基金利率 基准利率 

分 类 号：F831.51[经济管理—金融学]