2010年银行间市场运行报告

2010年,银行间市场交易整体呈现平稳快速增长,市场成员稳步增加。主要特点是：货币市场资金面逐渐收紧,短期利率明显上扬;银行间国债指数震荡上行,现券交易显著增长;人民币外汇即期交易微幅增长,重启汇改后人民币汇率升值速度加快、波动幅度扩大;利率互换交易量后四月连创新高,Shibor定价基准作用加强;头寸新规后,人民币外汇衍生品市场发生结构性变化;制度建设取得较大进展,市场发展动力加强;产品创新进一步推进,各项业务稳步开展。

China’s interbank market performance in 2010

In 2010, the interbank market developed stably and rapidly, and market members increased stably. The market performance showed the following features. Money market funds were gradually tightened, and short-term interest rates rose obviously. The interbank T-bond index went up with fluctuations, and turnovers in cash-bond market increased significantly. RMB/FX spot market increased slightly, and RMB appreciation accelerated with wider fluctuation range after resuming the exchange rate reform. Trading volume of interest rate swaps hit new highs repeatedly in the last four months. The role of Shibor as pricing benchmark enhanced. The structure of RMB/ FX derivatives market changed after new position regulations. System construction improved with enhanced market force. Product innovations continued and all business developed stably.