【摘要】 当前我国利率市场化改革、尤其是最为关键的存贷款利率市场化改革进程明显加快,而解读我国放松利率管制、逐步推动利率市场化的改革历程,可以发现其经济学实质是通过不断地实现具体金融产品定价的局部均衡来推动整体金融市场利率的一般均衡。本文以商业银行为研究对象,分析其资产和负债业务利率定价均衡化的发展路径,指出货币市场利率是存贷款产品利率定价的核心参照指标,进而提出商业银行应对利率市场化的政策框架。更多还原

【Abstract】 Nowadays the process of the interest rate marketization reform,especially the market-oriented reform of the deposit and loan rates,accelerates significantly.After analyzing the reform process,the author finds that the economic essence of the reform is to continually promote the general equilibrium of the entire financial market interest rates by achieving partial equilibriums of the specific financial products’ pricing.Taking the commercial banks as the research objects,this paper analyzes the development path of interest rate pricing in their assets and liabilities business,and reveals that the money market interest rate is the most important reference of pricing of the deposit and loan rates.Then,the paper puts forward a policy framework for commercial banks on how to respond to the interest rate marketization.更多还原