金融危机以来我国利率衍生产品市场运行情况  

Performance of China's interest rate derivatives market since the financial crisis

作　　者：周荣芳[1] 荣艺华[1] 王莹[1] 唐烈[1] 叶可松[1] 

机构地区：[1]中国人民银行上海总部金融市场管理部

出　　处：《中国货币市场》2009年第7期12-15,共4页China Money

摘　　要：文章回顾了金融危机以来我国利率衍生产品市场运行情况。市场交易大致经历了先降后升的两个阶段;市场规模收缩的主要原因在于境内机构交易信用额度的收缩,以及新旧金融衍生产品主协议过渡期内谈判成本的影响。总体看,金融危机对我国利率衍生产品市场的影响已逐渐消除,市场仍然保持健康运行,在新旧主协议过渡期结束之后,利率衍生产品市场有望得到更快发展。This paper reviews the performance of China＇s interest rate derivatives market since the global financial crisis. Trading in the market has experienced two different phases： first decline and then increase. The decline was mainly caused by credit contraction among resident institutions, and negotiation costs during the transition from the old to new financial derivatives master agreements. In general, the impact from the crisis has been gradually phasing out, and the interest rate derivatives market still enjoys a healthy performance in China. It is expected that the market will grow faster after the master agreement transition period is over.

关 键 词：利率衍生产品 授信额度 主协议 

分 类 号：F832.5[经济管理—金融学] F833.05