搜索
/2011.1STUDIESOFINTERNATIONALFINANCE，，，。，。、，，。，？？，，，。、（）2070，1980《》。，。，2030Q，。Q，，。2060，70、，。197412.3%，1980314.8%，，，3208015%。，，，。“”。2070，，：2080，、。，，，。，。，，，。：：F831：A：，，；，，。69/2011.1STUDIESOFINTERNATIONALFINANCE，、，。（）2080Q，。：、、、。2070，，。1980《》，，：1980331，61986331，“Q”；；NOW。，Q，。，198210，《-》，Q，（MMDA），（SNOW），。19864，，。、，，。（）1．。，。，，，，。。2．、。、、，。，，，。3．，。，，。4．，。5．，、。，，。，，。，。8070，，，。、（）1.，。（Federalinsuraucecorporation,FDIC）70/2011.1STUDIESOFINTERNATIONALFINANCE：FDIC、12070~80：FDIC22070~80119713.72%4.98%19813.77%6.35%19723.51%4.76%19823.85%5.79%19733.55%5.35%19833.80%5.34%19743.50%6.31%19843.91%5.61%19753.31%5.79%19854.02%5.30%19763.76%6.46%19863.87%5.04%19773.80%6.83%19873.86%5.05%19783.88%6.38%19884.00%5.27%19793.85%6.04%19893.99%5.61%19803.82%6.20%19903.95%5.24%：FDIC：=-；=/。，70，，（19711980，5.02%13.27%，，FDIC2.39%6.92%），，（19711980，FDIC7.37%13.12%）。80，80，，（1）。，，。，2080、，，。80~90，。，80，，1982~1983，，19816.35%19835.34%。，，，。，，，50。2001，，，（21）。2.，，。80，，，70，。90，、，。，，，，。71/2011.1STUDIESOFINTERNATIONALFINANCE，，。，，，。，（，）（2、33、4）。，，，。3.80，，。701986，3.80%。80，90，4%。90，，：FDIC32197148.64%20.80%30.55%198130.27%17.60%52.12%197248.04%20.13%31.82%198226.51%21.75%51.75%197345.35%18.75%35.91%198325.39%30.24%44.37%197442.12%18.26%39.62%198425.17%30.61%44.22%197541.17%20.58%38.25%198525.11%32.80%42.09%197640.19%24.54%35.27%198625.93%36.17%37.90%197740.76%23.69%35.55%198722.86%36.17%40.96%197839.44%21.76%38.80%198821.68%35.03%43.29%197939.50%18.95%41.55%198920.59%33.48%45.93%198036.35%16.92%46.73%199019.69%33.87%46.45%：FDIC197148.81%51.19%198130.65%69.36%197248.23%51.77%198226.94%73.06%197345.54%54.46%198325.88%74.12%197442.31%57.69%198431.99%68.01%197541.39%58.61%198532.47%67.53%197640.43%59.57%198634.83%65.17%197740.94%59.06%198732.32%67.68%197839.64%60.36%198831.27%68.73%197939.76%60.24%198929.89%70.11%198036.66%63.34%199029.05%70.95%：FDIC4：FDIC372/2011.1STUDIESOFINTERNATIONALFINANCE：FDIC5：FDIC6，3%。8090，：，，；，，，，；80，，90，，。1992，（5），：；，，。，，1999《》，，“”。（）《1933》，20%。80，，，，，，199943%（6）。（），1986，，FDIC14229，。，、，，，20096840（7）。。，（1），1986112.2%201011.2%。（100）28.3%77.7%。（），，。70（MMMF），。，：FDIC773/2011.1STUDIESOFINTERNATIONALFINANCE1949196019701980199042.3%38.6%38.5%37.2%26.8%9.9%20.1%20.8%23.3%16.0%3.9%12.1%13.4%16.9%11.1%5.8%6.9%6.0%4.6%2.7%0.2%1.1%1.4%1.9%2.2%19.7%24.0%19.1%17.4%19.1%25.5%9.8%13.0%13.0%19.3%0.9%2.9%3.7%3.7%10.9%0.0%2.9%3.6%1.7%5.9%0.0%0.0%0.2%2.0%5.1%1.7%4.7%4.9%5.3%7.9%41949~1990，，，（4）。、1996，。1999、。，。2000。200410，，，，“、”，。200714，（Shibor）。，，，。。（）Shibor，。“→→”，，、Shibor，，。，。（）、。，、、，，，。（）、，，，。、、、、、，。，、。，，，，，，。、，，，，：FinancialMarketsinTransition-ortheDeclineofCommercialBanking（Franklin.R.Ed-wards，1994）74/2011.1STUDIESOFINTERNATIONALFINANCE：[1]，.LiborShibor[J].，2008（7）.[2]．、[M].，1999.[3].：[J].，2008（7）.[4].、（）[M].，2007.[5].，[D].，2005.[6]，.[J].，2001（10）.[7]FranklinR.Edwards,FinancialMarketsinTransition-OrtheDeclineofCommercialBanking,inChangingCapitalMarkets:ImplicationsforMonetaryPolicy[R].FRBofKansasCity,1994.[8]ProfitsandBalanceSheetDevelopmentsatU.S.CommercialBanksin2009[R].FRBBulletin,May2010.[9]ProfitsandBalanceSheetDevelopmentsatU.S.CommercialBanksin1995[R].FRBBulletin,1996.Abstract：ByanalyzingtheAmerica’smarket-basedinterestratereforminthe1980’s,wetakeanindepthlookattheimpactofthereformonthetransformationofbanks’asset-liabilitiesbusinessintoanintermediarybusinessandthecentralizationofindustries.Throughouranalysis,wefindthatamarket-basedinterestratemaycausethetrendwherebythemarginbetweenthesavingsandloansratenarrows,thoughduetotheincreasingweightofdebtsinassets,theimpactonbanks’netinterestmarginsatthebeginningofthepost-reformperiodisrelativelysmall.However,withthefinetuningofthemarket-basedinterestratereformandthefinancialdisintermediationbecomingmoreevident,thenetinterestmarginsarestillshowingadownwardtrend.Furthermore,themarket-basedinterestrateclearlyactsasacatalystfortheintermediarybusiness,encouragingcompetitionsbetweenindustriesandincreasingtheconcentrationratio.Keywords:BankingSector;Market-basedInterestRateRegime;NetInterestMargin;Disintermediation80，，，，，，；，，。，，，。，，，90，，，，90。，，，“”，，，。，，，，，，，，，、。，，，，，，，，。（）75