摘要
2007年8月次贷危机爆发以来,美联储又陆续推出拍卖式融资便利(TAF)、主经纪商融券便利(TSLF)、主经纪商融资便利(PDCF)等货币政策工具向市场注入流动性。该文通过对联储货币政策操作层面较为细致的分析,详细介绍了美联储所推出的创新型货币政策工具,廓清相关事件的内在联系,并对政策背后的真实含义进行探究。
Since the outbreak of the subprime mortgage crisis in August 2007, the US Federal Reserve has introduced a series of monetary policy tools to inject liquidity into the market. These tools include： Term Auction Facility （TAF）, Term Securities Lending Facility （TSLF） and Primary Dealer Credit Facility （PDCF）. With a thorough analysis of the FED＇s monetary policies at the operation level, this article gives details about the innovative tools for monetary policy launched by the FED, points out the internal relationship between relevant events, and discusses the real implications of the policy.
出处
《中国货币市场》
2008年第6期47-51,共5页
China Money
