摘要
近年来,三方回购业务在国际市场上呈现出快速发展的势头,是目前美国最重要的资金拆借场所,其安全性高、流动性强、资金拆借较为便利的特点受到金融机构的普遍欢迎。而我国银行间债券市场回购制度依然为一对一的双边回购交易,其在融资便利性、交易活跃度以及融资成本上较三方回购的水平还有待进一步提高。
The tri-party repo trade is developing rapidly and becoming an important funding instrument in the U.S. market. Tri-party repos are gaining wide acceptance because they are highly liquid, convenient and offer greater security. China's interbank bond market is still reliant on standard two-party repos, which also compare unfavorably to the tri-party variety in terms of financing costs.
出处
《金融市场研究》
2015年第12期64-73,共10页
Financial Market Research
关键词
三方回购
担保品
资本监管
tri-party repos
collateral
capital regulation
