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在现代的金融市场体系中,货币市场是其中的一个重要组成部分。货币市场的存在,不仅可以解决贷款者的短期资金紧缺,而且还可以活跃闲置资金的流通。因此,货币市场也被称为短期资金市场,主要从事的是各种信用工具,诸如国库券、可以转让定期存单、回购协议以及银行承兑汇票等等的买卖市场。随着经济的发展,我国的货币市场迅速壮大,市场交易以债券的交易和银行之间的拆借行为为主。目前已经进入到信息化时代,我国的货币市场建立了专业化的电子交易信息系统,各种信息可以通过网络信号传递,避免了繁琐的管理程序,实现了高效快捷工作状态。从电子交易信息系统上来看,系统的核心是由中央银行与一级交易商所构成的,由商业银行构成债券市场以及同业拆借市场。电子交易信息系统的交易商以商业银行,都要具有良好的信用,特别是商业银行,要具备代理资格,以使得货币市场能够充分地发挥融资功能。本论文针对析我国货币市场的发展和完善进行探讨。
In the modern financial market system, the money market is one of the important components. The existence of the money market can not only solve the short-term shortage of funds borrowers, but also active circulation of idle funds. Thus, the money market is also known as the short-term money market and is mainly engaged in various credit instruments such as treasury bills, the transfer of certificates of deposit, repurchase agreements and bank acceptance bills. With the development of economy, the money market of our country is rapidly expanding. The market transactions are dominated by bond trading and inter-bank lending. Nowadays, we have entered the era of informationization. Our country’s money market has established a specialized electronic transaction information system. All kinds of information can be transmitted through the network, avoiding cumbersome management procedures and realizing efficient and quick working conditions. From the electronic transaction information system point of view, the core of the system is composed of a central bank and a dealer, the formation of the bond market by commercial banks and inter-bank borrowing market. Electronic trading information system traders to commercial banks, should have good credit, especially commercial banks, to have the agency to qualify to enable the money market to fully play the financing function. This thesis aims to analyze the development and perfection of China’s money market.