关于银行间市场开展人民币三方回购业务的探讨  

Discussions on Triparty Repos in the Interbank Market

作　　者：朱阳[1] 胡欣楠 

机构地区：[1]中信银行金融市场部

出　　处：《中国货币市场》2019年第1期49-52,共4页China Money

摘　　要：作为银行间市场交易规模最大、参与机构最多的交易品种,债券回购交易目前仍停留于双边交易模式,存在较大的改进空间。2018年10月16日,央行发布公告宣布在银行间市场正式推出三方回购交易,引发市场的热烈探讨。文章介绍了三方回购业务的内涵与优势,在借鉴欧美市场经验的基础上,就该业务在国内银行间市场的具体开展提出相关建议。As the biggest trading products in the interbank market in terms of trading scale and participating institutions,the bond repo transactions are still stuck with a bilateral trading model with much room for improvement.On 16 October 2018,the central bank officially launched triparty repo transactions in the interbank market in an announcement,triggering enthusiastic discussions in the market.The paper introduces the connotation and advantages of the triparty repo,and,based on the experiences of the American and European markets,puts forward relevant suggestions on the specific development of the triparty repo in the interbank market.

关 键 词：银行间市场 回购业务 人民币 债券回购交易 市场交易规模 交易品种 交易模式 市场经验 

分 类 号：F832.5[经济管理—金融学]