近两年境内美元拆借市场特点与成因  

Characteristics and Causes of USD Lending Market in China in the Past Two Years

作　　者：王子纯 

机构地区：[1]国家开发银行资金局

出　　处：《中国货币市场》2018年第2期30-33,共4页China Money

摘　　要：2015年4月CFETS系统外币拆借模块上线以来，境内外币拆借市场经历了两年多井喷式的发展。随着市场成员、交易量的不断增加，以及系统功能的不断完善，境内美元拆借交易逐渐从线下转向线上，更加便捷化、市场化、透明化。这有利于形成境内短期美元利率曲线、便利监管观测，并为机构的分析决策提供重要参考。Since the launch of foreign currency lending on the CFETS FX trading system in April 2015, the foreign currency lending market in China has experienced a two-year growth spurt. With the increase of market members and trading volume, as well as the continuous improvement of the trading system, the USD lending transactions have gradually shifted from offline to online, which makes the trading even more convenient, market-oriented and transparent. This tends to help establish the short-term USD interest rate curve, facilitate the market monitor and regulation, and provide important references for the analysis and decision-making of market institutions.

关 键 词：外币拆借市场 市场特点 境内 美元 成因 利率曲线 交易量 市场化 

分 类 号：F830.92[经济管理—金融学]