第六章第三节在线视频

同学们大家好
hello everyone

我们来学习下
let's study

中央银行法
central bank law

想必
presumably

大家对中央银行已经有了一些认识
you already have some understanding of the central bank

知道中央银行在一个国家金融体制当中呢
the central bank is

处居于核心地位
the core of a country's financial system.

它可以制定和执行国家货币
it can formulate and implement national monetary

金融政策
and financial policies

实施金融调控和金融监管
implement financial regulation and financial supervision

在现代社会中
in modern society

它一般具有发行的银行
it generally has the important functions of issuing bank

银行的银行
bank of banks

政府的银行等重要职能
bank of government and so on

虽然叫法不同
although the names are different

比如
for example

中央银行
central bank

国家银行
national bank

储备银行
reserve bank

人民银行
people's bank of china

有的国家是直接冠以国名
some countries directly name banks as countries

但是它在国家中的地位
but their status and functions in the country

和职能基本相同
are basically the same

中央银行法呢
as for central bank law

就是
it is

确立中央银行的性质
to establish the nature

地位
status

和职能
and function of the central bank

规范中央银行的组织和活动的法律规范
and to standardize the organization and activities of the central bank

从法律性质看
from the point of view of legal nature

中央银行法
the central bank law

兼具公法和私法的特点
has the characteristics of public law and private law

属于经济法范畴
and belongs to the category of economy law

我们提到过中央银行的
we mentioned the

监管职能
supervision function of the central bank

中央银行作为国家最重要的
as the most important financial management

金融管理机构
institution of the country,

它代表国家进行金融管理
the central bank carries out financial management

制定执行各项金融政策
formulates and implements various financial policies on behalf of the country

对经济领域实行监管和调控
supervises and regulates the economic field

它始终要把国家的宏观经济发展
and always puts the country's macroeconomic development

放在首位
in the first place

也就是说
in other words

中央银行的目标不是实现盈利
the goal of the central bank is not to achieve profitability

而是实现国家的宏观经济目标
but to achieve the country's macroeconomic goals

这也是中央银行
this is also the biggest difference between the central bank

与其他商业银行的最大区别
and other commercial banks

举个例子
for example

同学们
let’s say

我们把钱存到商业银行
when we deposit money in commercial banks

商业银行利用信用创造的功能
the commercial banks will enlarge the basic currency

会把基础货币放大
by using the function of credit creation

形成一个叫做m2的广义货币
to form a broad currency called m2

如果不是由于存款准备金率的要求
if it were not for the requirement of the reserve ratio

这个货币数量会惊人
the amount of money would be astonishing

并难以控制
and difficult to control

当然
of course,

我们不能让它无限地增长
we can't let it grow indefinitely.

在它的背后有个机构控制着
there is an institution behind it.

它就是中央银行
it is the central bank

那下面我们就来了解一下中央银行的
now let's get to know the central bank’s

职能和作用
functions and roles

首先第一个
first of all

中央银行具有货币发行的权力
the central bank has the power to issue money

在一个社会里
in a society

谁有权力发行货币
whoever has the power to issue money

谁就能够享有一种很重要的特权
can enjoy a very important privilege

那就是无中生有地
that is, the privilege of occupying

凭空占有一定社会资源的特权
certain social resources out of thin air

中国人民银行法
the second paragraph of article 2

第二条第二款规定
of the law of the people's bank of china stipulates that

中国人民银行在
the people's bank of china shall

国务院的领导下
under the leadership of the state council

制定和执行货币政策
formulate and implement monetary policies

规范和化解金融风险
regulate and resolve financial risks

维护金融稳定
and maintain financial stability

在第四条当中规定
according to article 4,

中国人民银行可以发行人民币
the people's bank of china can issue RMB

管理人民币流通
and manage the circulation of RMB

货币其实是中央银行代表政府
in fact, currency is a debt guarantee issued by

对外的一个债务担保
the central bank on behalf of the government

这个债务
this debt

可以在不同的主体之间流通
can be circulated among different subjects

只要政府存在
as long as the government exists

只要货币在流通
as long as the currency is in circulation

它永远不需要兑换
it will never need to exchange

他发行货币的时候所承诺
the resources it promised to exchange

要兑换的那些资源
when it issued the currency

但是
however,

这个货币可以
this currency can be

在不同的社会主体之间流通
circulated among different social subjects

满足资金融通和交易结算等
to meet the commercial and non-commercial needs

商业和非商业的需要
such as financing and transaction settlement

第二个
second

中央银行以国家实力
the central bank maintains currency credit

维持货币信用
with national strength.

这时候你一定会问
at this time, you must ask

那发行货币
isn't issuing currency

不是一门只赚不赔的生意吗
a business that only makes money but doesn't lose money?

表明上看是的
it appears that way

实质上
but in essence

国家是要承担责任的
the state is to be held responsible

一个国家要发行一种
it is not easy for a country to issue

人人都愿意使用的货币
a currency that everyone is willing to use

他要建立这种信用本身
it is not easy for a country

就不是一件容易的事情
to establish such a credit.

他要把国力做得
it is necessary for the country to make its national

足够强大
strength strong enough.

人们相信哪怕是在危难的时期
so that people believe that even in times of crisis

身上揣的这些货币
the currency they have

也会被别人所认可的
will be recognized by others

要做到这一点
it's not easy

那可不容易
to do that.

更重要的是
more importantly

如果有哪个国家
if any country

有哪个地区
or region

胆敢假冒制造
dares to fake

你这个国家的货币
the currency of your country

你要拥有军事能力
you need to have the military capability

足够把他们拿下
to take them down,

维持这种军事的威慑
and maintaining this military deterrence

本身就有巨大的成本
has huge costs. in itself

你可以想想美国和美元
you can think of the united states and us dollar

美元是世界流通的第一大货币
us dollar is the largest currency in circulation in the world

你再去看看美国
then you can see how much the united states

在军事上的开支是多少
spends on military affairs

美国到处驻军的原因是什么
and why the united states is garrisoning troops everywhere

对了
that's right

主要是维持美元的霸主地位
the main thing is to maintain the dominance of us dollar

第三个
third

中央银行如何控制货币发行量
how does the central bank control the currency circulation

和流通量
and circulation amount

中央银行是怎么控制一个国家的
how does a central bank control a country’s

货币发行和流通量的呢
currency issuance and circulation amount

比如说
for example

说在美国印钱的过程是这样的
the process of printing money in the united states is like this

首先由美国的中央银行
first, the central bank of the united states

也就是联邦储备局
aka the federal reserve

批准
approves

美国的政府
the government of the united states

也就财政部
aka the ministry of finance

就可以印钱了
to print money

印出来的钱叫
the printed money is called

联邦储备券
federal reserve notes

这个券印好了以后
after this notes are printed

美国财政部
the treasury department

就把它等价卖给联邦储备局
sells it to the federal reserve

卖完以后
after the sale

出售所得
the proceeds of the sale

就存入了美国财政部
are deposited

在联邦储备局所开的账户上
in an account opened by the u.s. treasury at the federal reserve

从此美国财政部
from then on, any expenditure made by the u.s. treasury department

做任何的开支
can be incurred

都可以发生在这个账户上
in this account

你注意下这个过程
pay attention to the process

联邦储备局
the federal reserve asks

让财政部印钱
the treasury department to print the money

财政部印好了
the treasury department prints the money

以后就卖给联邦储备局
and sells it to the federal reserve

卖完了以后
after the sale

联邦储备局就在
the federal reserve adds

财政部的账户上添上这么一笔
such a sum to the treasury department's account.

从此财政部就可以花钱了
from then on, the treasury department could spend money

缺钱就印
if you are short of money

印了就可以花
you can print it and spend it.

就这么一个过程
that’s the process

你可能会问
you may ask

一直这么印下去
keep printing money like this

是不是就发生通货膨胀了呢
inflation is just going to happen

是的
yes, that's right

国家不能随便想印钱就印钱
the state cannot print money at will

货币的数量
the quantity of currency

必须跟国家的财富积累数额相匹配
must be matched with the country's accumulation of wealth

也就是
that is to say

社会财富的数量与货币数量要成正比
the amount of social wealth is proportional to the amount of currency

如果社会上的货币流通数量多了
if there is more money in circulation in society

国家应该怎么办
what should the country do

国家可以通过两个方式调整
the country can adjust it in two ways

第一叫公开市场操作
first one is the open market operation

它在公开市场上面买卖国家的债券
which deals in the national bonds on the open market

从而向市场发放或者回收货币
so as to issue currency to the market or recover from it

比如
for example

中国人民银行向公众购买
when the people's bank of china purchases

中国的国债
chinese government bonds from the public

买的过程中就把钱交给了公众
it gives the money to the public

交给了市场
and the market in the process

于是就增加了人民币
thus increasing the circulation amount of rmb

在市场中的货币流通量
in the market.

如果它倒过来向公众出售中国国债
if it sells chinese government bonds to the public in reverse

那么就回收
it will recover

市场中流通的人民币
the rmb circulating in the market

从而起到紧缩
thus tightening

人民币流通量的作用
the circulation amount of rmb

这就发生了常说的
this is the often said

放松银根和紧缩银根
relaxing money and tightening money

这两种情况
cases

控制货币发行量的另外一个办法
another way to control the circulation amount of currency

是调整利率
is to adjust the rate of interest

利率不一样
if the interest rate is different

人们借贷的行为
people's lending behavior

就会发生变化
will change

这对市场流通的货币量
on the amount of currency circulating in the market

也会有影响
which will also have an impact

货币流通
currency circulation

对利率的变化非常敏感
is very sensitive to the change of interest rate

利率高
high interest rate

借贷减少
leads to the decrease of loan

利率低
low interest rate

借贷增加
leads to the increase of loan.

以此呢也可以控制
this can also be used to control

社会流通的货币数量
the amount of currency in circulation

当然
of course

中央银行还可以修改法定存款准备金比率
the central bank may also modify the statutory deposit reserve ratio

从而影响商业银行创造货币的倍数
so as to affect the multiple of money created by commercial banks

或者叫乘数
or be called a multiplier

这种方法用的少一些
this method is less used

但是非常有效
but it is very effective

在特殊的时候也会采用
and can be used in special cases

比如
for example

中国最近一次调整在2019年1月4日
china's most recent adjustment was on January 4,2019

对大型金融机构和
different proportions for large financial institutions and

中小型金融机构采取了不同的比例
small and medium-sized financial institutions have been adopted

调整后的比例分别是14%和12%
with the adjusted proportions being 14% and 12%, respectively

第四个
fourth

中央银行充当最后贷款人
the central bank acts as lender of last resort

不管怎么样
in any case

中央银行还充当一个重要的作用
the central bank also plays an important role

那就是
that is

最后贷款人的作用
the role of lender of last resort

商业银行体系
there is an inherent difficulty

本身固有一种困难
in the commercial banking system

那就是流动性的困难
that is, the difficulty of liquidity

如果储户出现恐慌
if there is panic among depositors

要把钱都取出来的话
and they want to get all the money out

整个银行体系
the whole banking system

是没有那么多钱给储户提取的
does not have so much money for depositors to withdraw

那就会发生挤兑风险
then there is the risk of a run

这时候中央银行就要发挥作用
at this time, the central bank should play a role

帮助那些有流动性困难的银行
in helping those banks with liquidity difficulties

让他们尽量满足储户的要求
to meet the requirements of depositors as much as possible

从而平息储户的恐慌
so as to calm the depositors' panic

以上所说的这些
all of the above

都是各国的中央银行
are the basic tasks for the central banks of all countries

所要完成的基本任务
to accomplish

那就是
that is

保持一个国家货币发行量的稳定
to maintain the stability of a country's currency issuance

当然我们后面还会有专门讨论
of course, we'll have a special discussion later

有些中央银行还担负着
some central banks also undertake

除了稳定货币发行量任务以外的其他任务
other tasks besides the task of stabilizing currency issuance

尤其是
in particular

调整经济发展速度
the task of adjusting the speed of economic development

保持就业稳定
maintaining employment stability

保持经济持续增长的任务
and keeping sustained economic growth

最后呢
in the end

我给大家留个思考题
i'll leave a question for you to think about

根据你的了解
according to what you know

你还知道我国中国银行
do you know what other means

还可以采用哪些手段
can be used by the bank of china

来调控金融市场
to regulate and control the financial market

好同学们这次课
okay everyone

我们就先到这
that’s all for today’s class

再见
goodbye