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翻訳と辞書　辞書検索 [ 開発暫定版 ] スポンサード リンク Open market operation ： ウィキペディア英語版 Open market operation An open market operation (OMO) is an activity by a central bank (CB) to give (or take) liquidity in its currency to (or from) a bank or a group of banks. The central bank can either buy or sell government bonds in the open market (this is where the name was historically derived from) or, which is now mostly the preferred solution, enter into a repo or secured lending transaction with a commercial bank: the CB gives the money as a deposit for a defined period and synchroneously takes an eligible asset as collateral. A central bank uses OMO as the primary means of implementing monetary policy. The usual aim of open market operations is - asides from supplying commercial banks with liquidity and sometimes taking surplus liquidity from commercial banks - to manipulate the short-term interest rate and the supply of base money in an economy, and thus indirectly control the total money supply, in effect expanding money or contracting the money supply. This involves meeting the demand of base money at the target interest rate by buying and selling government securities, or other financial instruments. Monetary targets, such as inflation, interest rates, or exchange rates, are used to guide this implementation.〔(Open market operations: A Glossary of Political Economy Terms - Dr. Paul M. Johnson )〕〔(Open Market Operations - William F. Hummel )〕 ==Process of open market operations == The central bank maintains loro accounts for a group of commercial banks, the so-called direct payment banks. A balance on such a loro account (it is a nostro account in the view of the commercial bank) represents central bank money in the regarded currency. Since CB money currently exists mainly in the form of electronic records (electronic money ) rather than in the form of paper or coins (physical money), open market operations can be conducted by simply increasing or decreasing (''crediting'' or ''debiting'') the amount of electronic money that a bank has in its reserve account at the central bank. This does not require the creation of new physical currency, unless a direct payment bank demands to exchange a part of its electronic money against banknotes or coins. In most developed countries, central banks are not allowed to give loans without requiring suitable assets as collateral. Therefore, most central banks describe which assets are eligible for open market transactions. Technically, the CB makes the loan and synchroneously takes an equivalent amount of an eligible asset supplied by the borrowing commercial bank. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Open market operation」の詳細全文を読む スポンサード リンク 翻訳と辞書 : 翻訳のためのインターネットリソース Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.