legal reserve

An Analysis of Diversified Legal Deposited Reserve System of China

浅议我国的法定存款准备金制度

And the monetary control means mainly includes legal reserve requirement rate control, rediscount rate control, and open market business control, etc.

金融调控手段主要有法定存款准备金率调控、再贴现率调控、公开市场业务调控等。

If the legal reserve mentioned in the preceding paragraph has reached the level of the company's capitalization, the restrictions cited in the preceding paragraph shall no longer apply.

前项法定盈余公积已达本公司资本总额时，得不受前项规定之限制。

Face this situation; government has introduced a variety of control measures actively, such as increasing the legal reserve requirements, raising the deposit and loan interest rates and other means of recovery of excess liquidity.

面对这一局面，我国政府已积极出台了多种调控措施，如上调法定存款准备金率、提高存贷款利率等等一些手段来回收过剩的流动性。

Nowadays, almost all the development countries have already abolished legal deposit reserve policy. And most transferring countries are changing the execution of the policy into a market one, which is especially significant after the wave of interest rate marketization reform.

目前大多数发达国家已取消了存款准备金政策，许多转轨国家对法定存款准备金政策实施转为公开市场业务，特别是在利率市场化改革后尤为明显。

In the first study, We found the cointegration relationship between the reserve against deposit ratio and total credit, and the reverse cycle characteristics of legal reserve against deposit.

研究一：存款准备金率与信贷总额之间存在负向协整关系，法定存款准备金具有逆周期特征。

The Perfection of the Legal System of Nature Reserve in China

论我国自然保护区法律制度的完善

Then to the central bank using benchmark interest rate, legal reserve ratio, the open market service operation and the rediscount rate monetary policy tool affects to the stock market carries on the correlation theories analysis.

然后对央行利用基准利率、法定存款准备金率、公开市场业务操作和再贴现率的货币政策工具对股票市场影响进行相关理论分析。

So far, State Street has paid out two-thirds of the assets of a$ 625m legal reserve fund, set up in late 2007.

道富银行在2007年末设立了规模达6.25亿美元的法定准备基金，迄今为止，该行已支付了其中三分之二的资产。

On Legal Nature of the Reserve Letter of Credit and Guard against Risk for Bank

浅谈备用信用证的法律性质与银行的风险防范

Legal reserve life insurance company

法定准备人寿保险公司

The Innovation of Financial Supervision from the Point of the Criterion of Diversified Legal Deposited Reserve Rates

从差别存款准备金率制度看金融监管创新

In the second half of 2008, to suppress the effect of finance crisis and disasters and stabilize the economy, our country put a lot of money into the market, and lowers the legal deposit reserve ratio.

2008年下半年，金融危机和国内灾害的影响，为稳定经济，国家投放了大量的货币，同时下调准备金率。

Instruments of Monetary Policy and the Selection of Intermediate Targets: Research Based on the Legal Reserve Operation

货币政策工具与中介目标选择：基于法定准备金操作的研究

However, because of the legal reserve are more concerned about the level of the solvency of the insurer, the assumptions are relatively conservative which leading to the financial reserve measurement results lack of fairness requirements.

不过由于法定准备金比较关心保险人的偿付能力水平，评估假设相对比较保守，导致财务准备金计量结果缺乏财务信息的公允性要求。

According to the mechanism of the legal deposit reserve affecting on the money supply, it observes the real effect of the reserve policy.

通过法定存款准备金对货币供给量影响的作用机制出发，考察了准备金率的调整对我国货币供给量的实际效果。

Because of the inflation, credit expansion, and excess liquidity, the legal deposit reserve ratio raised for 22 times between 2006 and 2008, from 7.5% up to 17.5%.

当时针对物价上涨、信贷扩张、流动性过剩，2006年到2008年共计22次上调法定存款准备金率，从上调之前的7.5%提高到了上调之后的17.5%。

From this part, readers can indirectly understand the reason why the Chinese central bank enforces the discriminatory legal reserve requirement system.

通过对这一节的阅读，读者可以间接感受到我国中央银行为何实施差别准备金制度的原因。

The Legal Protection of Nature Reserve of Geological Trace

对地质遗迹类自然保护区法律保护问题的研究

From 2006, the domestic financial experts and scholars started to pay attention to the d surplus liquidity which existed in the bank of system, the Central Bank also adopted the contracted monetary policy, raises the legal reserve ratio against deposits gradually.

从2006年开始，国内金融界的专家和学者开始关注银行体系存在着的流动性过剩问题，中央银行也开始采取紧缩的货币政策，逐步调高法定存款准备金率，并且连续上调存贷款基准利率。

Since 2007, PBC frequently curbs liquidity surplus by using the legal deposit reserve ratio, benchmark rate, central bank bonds, currency swaps and other liquidity management tools. However, the results are not very obvious.

2007年以来，中国人民银行频繁使用法定存款准备金率、基准利率、央行票据、货币掉期等多种流动性管理工具来遏制流动性过剩，然而效果却不十分明显。

In the first section, I will carefully analyze the context and background under which the discriminatory legal reserve system came into being.

在第一节中，本文首先对我国差别存款准备金制度的产生背景进行细致阐述。

Given this result, we further analyze the factors that affect the policy, such as mechanism of the legal deposit reserve, base currency, reserve system, interest rate, and exchange rate and so on.

鉴于这个结果，本文进一步从法定准备金的作用机制、基础货币、准备金制度、利率、汇率等方面分析了影响准备金政策效果的原因。

Whether frequent adjustment on the legal deposit reserve is effective, it is valid on the control of money supply, there will be discussed in this passage.

如此频繁的调节法定存款准备金率，对货币供给量的调节是否有效，能否收缩市场的流动性，其效果又如何。

Secondly, in order to study negative effect of the present discriminatory legal reserve requirement system imposed on our regional economic development. This paper has done a great deal in the analysis and argument both theoretically and empirically.

其次，为了深究现行差别存款准备金制度对我国地区经济发展的不利影响，本文通过理论与实证两方面进行深入论证。

In the accordance with the traditional views, the four goal of the monetary policy do not aim at the stocks, but in fact, the legal deposit reserve adjustments impact on the stocks importantly.

依据传统的观点，货币政策的四大目标并不包括关于股价方面的内容，而实际上存款准备金率的调整对股票市场的影响也是很关键的。

In the monetary policy practice of contemporary western country, open market service and legal capital reserve rate, re-discount are called "three main and effective tool" of monetary policy.

在当代西方国家货币政策实践中，公开市场业务与法定存款准备金、再贴现被称为货币政策的三大法宝。

Our empirical results indicate that the shock in the central bank monetary policy represented by the legal deposit reserve rate and benchmark deposit can trigger the stock market impact of short-term fluctuation.

研究结果表明，以法定存款准备金率与存款基准利率为代表的中央银行货币政策的冲击能够引发股票市场短期条件波动。

But in China, because the interest rates are non-market and the intermediate target of monetary policy is money supply, as a monetary policy tool of quantity type, the legal deposit reserve ratio is an effective tool to adjust the money supply.

而在我国，因为利率的非市场化，货币政策的中介目标是货币供给量。

Lastly, the discriminatory legal reserve system can make flexible adjustment to the economic structure without increasing regulation and control cost. Meanwhile, for the negative effect, there are three aspects.

最后，在公开市场业务调控成本较高的背景下，使用差别准备金政策会在不提高调控成本的基础上对经济结构进行灵活调整。同时，就其消极方面而言，主要体现为三个方面。