CAJ | 학술논문

法定存款准备金制度作为中央银行实施货币政策的＂三大法宝＂之一,其在货币信贷数量控制、货币市场流动性和利率调节,以及促进金融机构稳健经营、限制货币替代和资本流出入等方面发挥着重要作用。截至目前,央行已连续六次上调存款准备金率,商业银行的存款准备金率已达到历史高位。由于当前金融领域存在的一个突出问题就是持续贸易顺差、FDI（对外直接投资）和国际投机资本的大量进入导致外汇占款持续增加,造成被动性的货币投放增加,导致流动性不断扩张,通货膨胀压力加大。存款准备金率连续上调就是为了回收因外汇流入过多导致的过剩流动性,实施紧缩政策以应对日益强化的通货膨胀预期。
법정존관준비금제도작위중앙은행실시화폐정책적＂삼대법보＂지일,기재화폐신대수량공제、화폐시장류동성화리솔조절,이급촉진금융궤구은건경영、한제화폐체대화자본류출입등방면발휘착중요작용。절지목전,앙행이련속륙차상조존관준비금솔,상업은행적존관준비금솔이체도역사고위。유우당전금융영역존재적일개돌출문제취시지속무역순차、FDI（대외직접투자）화국제투궤자본적대량진입도치외회점관지속증가,조성피동성적화폐투방증가,도치류동성불단확장,통화팽창압력가대。존관준비금솔련속상조취시위료회수인외회류입과다도치적과잉류동성,실시긴축정책이응대일익강화적통화팽창예기。
As one of the three magic weapons for the People＇s Bank of China in taking monetary policy,the reserve deposit requirement system plays an important role in controlling the volume of monetary credit and adjusting liquidity and interest rate of monetary market,promoting steady and healthy operation of financial instruction,and limiting monetary substitution and capital outflow and inflow.The People＇s Bank of China has moved up the deposit reserve ratio for six times until now,and the deposit reserve ratio has reached the top for the commercial banks.In Chinese financial field,the noticeable problems are the sustained increase of funds outstanding for foreign exchange due to long-time trade surplus,FDI,and large inflow of foreign venture capitals,leading to passive increase of money supply,expansion of monetary liquidity,and accumulation of inflationary pressure.The bank constantly raises the deposit reserve ratio to retrieve excess liquidity due to over-inflow of foreign exchange,and the deflationary policy is used to deal with increasing inflation expectation.