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Investment版 - fed fund rate, discount rate, open market op‘s
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相关话题的讨论汇总
话题: fed话题: rate话题: market话题: bank话题: fund
进入Investment版参与讨论
1 (共1页)
m**********w
发帖数: 4161
1
最近看了些资料,说fed影响短期利率最常见的活动是open market operation,即购入
/售出票据来调整货供应。
中国媒体经常报道央行发行票据回笼货币之类的消息,这倒和上述论述吻合。但美国媒
体最关注的却是fed fund rate。
我猜想是fed fund rate会直接影响open market operation?但fed fund rate按定义
是银行间拆借的利率指导价,它如何直接作用到银行之间的实际拆借利率?又如何影响
open market operation?
wiki上看来的。没太看明白。
In the United States, as of 2006 the Fed sets an interest rate target for
the Fed funds (overnight bank reserves) market. When the actual Fed funds
rate is higher than the target, the New York Reserve Bank will usually
increase the mon
m**********w
发帖数: 4161
2
wiki上看来的。没太看明白。
In the United States, as of 2006 the Fed sets an interest rate target for
the Fed funds (overnight bank reserves) market. When the actual Fed funds
rate is higher than the target, the New York Reserve Bank will usually
increase the money supply via a repo (effectively lending). When the actual
Fed funds rate is less than the target, the Bank will usually decrease the
money supply via a reverse repo (effectively borrowing).

【在 m**********w 的大作中提到】
: 最近看了些资料,说fed影响短期利率最常见的活动是open market operation,即购入
: /售出票据来调整货供应。
: 中国媒体经常报道央行发行票据回笼货币之类的消息,这倒和上述论述吻合。但美国媒
: 体最关注的却是fed fund rate。
: 我猜想是fed fund rate会直接影响open market operation?但fed fund rate按定义
: 是银行间拆借的利率指导价,它如何直接作用到银行之间的实际拆借利率?又如何影响
: open market operation?
: wiki上看来的。没太看明白。
: In the United States, as of 2006 the Fed sets an interest rate target for
: the Fed funds (overnight bank reserves) market. When the actual Fed funds

c*********u
发帖数: 361
3
利率高于target的话,Fed会通过购买债券等手段提高货币供给(俗称印钞票)。Fed购买
债券导致的直接结果就是银行的cash reserve增加。理论上银行的reserve增加之后,它
就有更多的资金可以借出,lending supply增加。利率会降低直到lending supply = l
ending demand.
利率低于target的话,Fed就通过发行债券等手段降低货币供给,最终导致相反的结果

actual

【在 m**********w 的大作中提到】
: wiki上看来的。没太看明白。
: In the United States, as of 2006 the Fed sets an interest rate target for
: the Fed funds (overnight bank reserves) market. When the actual Fed funds
: rate is higher than the target, the New York Reserve Bank will usually
: increase the money supply via a repo (effectively lending). When the actual
: Fed funds rate is less than the target, the Bank will usually decrease the
: money supply via a reverse repo (effectively borrowing).

m**********w
发帖数: 4161
4
就是说fed随时监控银行间的fed cash reserve loan rate?
fed买什么样的债券才能直接增加银行的cash reserve?
另外这样的动作岂不是要很频繁?哪里能查到log?

购买
,它
l

【在 c*********u 的大作中提到】
: 利率高于target的话,Fed会通过购买债券等手段提高货币供给(俗称印钞票)。Fed购买
: 债券导致的直接结果就是银行的cash reserve增加。理论上银行的reserve增加之后,它
: 就有更多的资金可以借出,lending supply增加。利率会降低直到lending supply = l
: ending demand.
: 利率低于target的话,Fed就通过发行债券等手段降低货币供给,最终导致相反的结果
:
: actual

1 (共1页)
进入Investment版参与讨论
相关主题
如何拍卖到这个房子?Hong Kong recalls gold reserves, touts high-security vault
这房子值得投资吗?ROTH 里$73.71是哪里来的?
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周末讨论:今年下半年foreclosure会增加? (转载)新手请教问题
Fraction ... Er ... Fictional Reserve Banking (zz) (转载)有人了解 western reserve life吗?
感觉现在并不是投资的好时机啊准备买房,15 year vs. 30 year
Text of Federal Reserve Statement (ZT)bond 的 前景
新手请教:关于roth ira账户的利息问题Fidelity has several money market fund, which one is better pls ?
相关话题的讨论汇总
话题: fed话题: rate话题: market话题: bank话题: fund