问题 问答题

主要的货币市场工具

答案

参考答案:(1)同业拆借
同业拆借是指金融机构(除中央银行外)之间相互借贷短期资金的货币市场工具,它主要表现为银行同业之问买卖在中央银行存款账户上的准备金余额,用以调剂准备金头寸的余缺。由于同业拆借市场对资金供求状况十分敏感,利率变动频繁,直接反映了准备金的供求状况,还间接反映了银行信贷、市场银根和整个经济的状况,因而银行间同业拆借利率被中央银行当作反映货币市场行情的重要指标之一。
(2)回购协议
回购协议是指交易者在货币市场上出售证券以融通资金时,交易双方同时签订协议,以使出售证券的一方在约定的时间按协定价格购回原证券。
(3)商业票据
与商业票据相关的业务主要有票据发行、票据转让、票据承兑、票据保证、票据清偿和票据贴现等。商业票据的发行分为直接发行和金融机构承销两种方式,发行条件主要包括贴现率、发行价格、发行期限、兑付和手续费。为了保证商业票据的顺利发行,通常发行企业要通过一定的评级程序。商业票据通常可以通过背书方式进行转让。承兑汇票是指汇票付款人承诺在汇票到期日支付汇票金额的票据行为。汇票的债务可以由保证人承担保证责任,保证人由汇票债务人以外的其他人担当。票据到期,出票人有权获得清偿。票据贴现是指持票人为了资金融通的需要而在票据到期前以一定利息的方式向银行出售票据。在中央银行的货币政策工具的部分,我们已经讲到,再贴现是中央银行的一种信用业务,是中央银行为执行货币政策而运用的一种货币政策工具。
(4)银行承兑汇票
银行承兑汇票是一种定期汇票,源于国际贸易,是出口商开出,经进口商银行承兑的定期商业汇票。
(5)大额可转让定期存单
大额可转让定期存单(CDs)是一种银行定期存款凭证,与普通定期存款不同,它由银行以大面值金额发行,并可以在次级市场上自由转让,因而构成一种货币市场工具。
(6)短期政府债券
短期政府债券主要指国库券,即中央政府发行的期限在一年以内的短期债券。
(7)货币市场共同基金
共同基金是金融信托的一种,是通过发行基金的收益凭证(可以是普通股股票或是基金份额、债券、优先股股票等)募集社会公众投资者的零散资金,并委托具有专门知识和经验的专家管理操作,依据分散投资的原则,投资于各种有价证券,再将投资收益按投资与基金的份额分配给基金投资者,而投资机构本身则作为资金管理者获得一笔服务费用。

选择题
阅读理解

“There is an out – of – date idea that children grow up and leave home when they’re 18,and the truth is far from that,” says Mr.Larry Bumpass of the University of Wisconsin.Today unexpected numbers of young adults are living with their parents.“There is a great change in the middle class,” declares Allan Schnaiberg of Northwestern University, whose son, 19, moved back in after an absence of eight months.

Scientists show a number of reasons for this return to the nest.The marriage age is rising, a condition that makes home and its pleasantness particularly attractive to young people.A high divorce (离婚) rate and a low remarriage rate make some differences.For some, the expense of an away - from - home college education has become so great that many students now attend local schools.Even after graduation, young people find their wings tied by terrible housing costs.

Living at home, says Knighton, a school teacher, continues to give security (安全保卫) and moral(道义的) support.Her mother agreed.“Its strange for the kids to pay all that money for rent.It makes sense for kids to stay at home.” But sharing the family home requires changes for all.There are the hassles over bathrooms, telephones and privacy.Some families, however, manage the careful balancing act.But for others, it proves too difficult.Michelle Del Turco, 24, has been home three times and left three times.“What I considered a social drink, my dad considered an alcohol (酒精) problem,” she explains.“He never liked anyone I dated, so I either had to hide away or meet them at friends' houses.”

Just how long should adult children live with their parents before moving on? Most scientists feel lengthy homecomings are a mistake.Children, can end up with a sense of defeat and failure.And aging parents, who should be enjoying some freedom, find themselves stuck with too many things.Many agree that brief visits, however, can work well.

小题1:According to the author, there was once a trend in the U.S.________.

A.for young adults to leave their parents and live separately

B.for middle class young adults to stay with their parents

C.for married young adults to move back home after a lengthy absence

D.for young adults to get jobs nearby in order to live with their parents小题2:Which of the following does not lead to young adults returning to the nest?

A.Young adults find housing costs too high.

B.Young adults are not old enough.

C.Young adults look for parental comfort and support.

D.Quite a number of young adults attend local schools.小题3:The underlined word “hassles” in the passage probably means _________.

A.agreements

B.worries

C.disadvantages

D.quarrels小题4:According to the passage what is the best for both parents and children?

A.They should share the family expenses.

B.Children should leave their parents when they are grown up.

C.Adult children should live away from their parents and visit their parents from time to time.

D.Parents should support their adult children when they are in trouble.小题5:.One of the disadvantages of young adults returning to slay with their parents is that ______.

A.there will certainly be inconveniences in even-day life

B.most parents find it difficult to keep a bigger family going

C.the young adults try to be overprotected by their parents

D.public opinion is against young adults staying with their parents