我国存款准备金制度演变的货币政策视角分析

作为货币政策操作工具的存款准备金制度是包含中央银行对存款准备金率、需要缴存准备金的金融机构、不同类型存款(资产)的存款准备金率、可以作为存款准备金的资产类型、存款准备金的计提方式、存款准备金付息及其(付息时)利率以及相关罚则等内容的确定和调整的一个整体。本文从这七个方面简要回顾了我国存款准备金制度演变的历史,认为我国对存款准备金制度在货币政策体系中作用的认识经历了三个阶段,并从货币政策角度对存款准备金制度工具的作用分别进行论述。最后是结论与启示。

The Analysis of the Evolution of Reserve Requirements System from the View of Monetary Policy in China

Being a monetary policy instrument,the Reserve Requirements System is the whole including the adjustment of reserve requirements ratio,the confirmation and adjustment of the financial institutes being required to reserve requirements,the reserve requirements ratio to different deposits or assets,types of assets admitted as reserves,the manner of calculation and maintenance of reserves,paying interest to reserves or not,and correlative punishment rules etc.The paper retrospects briefly the historical evolution of the Reserve Requirements System in China in these seven aspects,and concludes that the cognition of its functions in monetary policy can be divided into three phases,and discusses in detail its functions respectively.In the end,the paper gives some conclusions and the illuminations form the text.