从双轨走向并轨——完善利率市场化的路径思考  

Unifying the Dual Track Interest Rate System——Thoughts on a Better Path to Liberalized Interest Rates

作　　者：刘怡庆 窦寒 王丽君 张雯 

机构地区：[1]南京银行资金运营中心金融市场研究部

出　　处：《金融市场研究》2018年第7期23-33,共11页Financial Market Research

摘　　要：近年来我国利率市场化改革稳步推进,但仍然有存贷款基准利率和市场利率"两轨"并存的现象,这在一定程度上推动银行负债短期化、同业化,资金稳定性下降,成本上升。为促进双轨制并轨,建议一方面继续完善货币市场利率曲线,另一方面有序引导存贷款利率向市场利率靠拢,提高商业银行利率定价能力和负债管理能力。In recent years, China has made steady progress in its effort to liberalize interest rates, but there is still a dual track system of benchmark lending and deposit rates alongside market interest rates. This promotes the reliance on short-term interbank debt, reduces the reliability of funds and raises interest costs. In order to promote a merger of the two tracks of interest rates, it is necessary to improve the money market＇ s interest rate curve. At the same time, there is a need for guiding lending and deposit rates towards market rate levels, as well as to improve the ability of commercial banks to price interest rates and manage ability. ／

关 键 词：利率双轨制 商业银行负债 货币市场基准利率 

分 类 号：F832.51[经济管理—金融学]