zh eff金融世界第十六讲央行功能与职责

在前几floatingexchangeratesfixed中我们就要谈谈中央银行centralbank或储备银行reservebank的功能和职责。Centralbanksarekeyeconomicpolicyinstitutionsinmostmoderneconomies.Butaroundtheworld,theroleandfunctionsofcentralbankshavebeenunderchallengefromchangingfashionsinmonetarypolicyandformthederegulationandglobalisationoffinancialmarkets.Duringitsbriefhistory,Australia'sReserveBankhasbeenrequiredtoactasbankertogovernment,regulatorofthefinancialsystemandadministratorofmonetarypolicy.centralbank中央reservebankregulator管理者，administrator下面我们再听一遍巴里克拉克的谈话和中文翻译：（英文略现在我们再听一遍巴里克拉克的这段谈话。（略exclusivevitallyimportantlenderoflastresort最后commercialbanks商bailout帮助...Thecentralbanksusuallybegantheirexistenceasabankerthatdealtexclusivelywiththenationalgovernment,thatreallyprovidescredittothegovernmentofthecountryandinreturnforsodoing,getsparticularprivilegeswhichquiteoftenisamonopolyontheissueofpapermoney.Fromthatstrength,asthesebanksbecomelargeandimportanttheyacquire,almostbynaturalprocess,athirdandvitallyimportantfunctionandthatiswhatwe'vecalledalenderoflastresort.Theycecomethebankerforcommercialbnaks.They'reseentobesafe,otherbankswillputmoneyondepositwiththem.Theybecomealeaderofthebankingcommunityandintimesofcrisisit'sthiscentralbankthatcanassistbnakswhogetintotrouble.Now,there'sapricetopaytobeintheclub,tohaveacentralbanker,andthatisusuallythereisasetofsortofinformalrulesgrowupaboutthebehaviouroftheotherbanks.Theywillholdacertainamountofcapital,they'llholdsomeoftheirliquidassetsondepositwiththecentralbank.Ifyou'regoingtobebailedoutyouhavetoabidebyconvention.现在让我们完整听一遍澳大利亚墨尔本大学银行史学家大卫梅里特的这段谈话。（略centralbank中央reservebankregulat