同业拆借市场发展与监管专题.pdfVIP

CHINAMONEY FEBRUARY 2008 7 同业拆借市场发展与监管专题 DEVELOPMENT AND SUPERVISION OF THE INTERBANK LENDING MARKET 坚持市场化取向， 促进中国货币市场健康发展 Stick to orientation of marketization, promote healthy development of China’s money market 中国人民银行上海总部金融市场管理部副主任 周荣芳 摘 要 该文从《同业拆借管理办法》入手，简要介绍了新形势下我国货币 市场开放、透明、市场化的管理思路；进而科学地分析了当前货币市场 的发展形势，指出货币市场利率波动性的加剧和金融产品的创新等都给 货币市场的监管提出了进一步的挑战，认为监管部门应该从理念创新入 手，进一步创新监管手段，加强信息透明度，促进货币市场又好又快、 健康发展。 Abstract Starting with the Administrative Measures for Interbank Lending , this paper introduces the ideas behind the management of China’s money 作者简介 market, namely, openness, transparency and marketization. The 周荣芳，中国人民银行上海总部金融市场管理部 author then offers a scientific analysis on the current developments 副主任 of the money market, and points out that the increasing volatility of Author market interest rates and innovations in financial products pose a Zhou Rongfang, Deputy Director-General, Financial further challenge for the supervision of the money market. According Market Management Department, PBC Shanghai to the author, the supervisory authority should innovate its ideas and Head Office supervision measures and enhance the transparency of information so as to ensure