中央银行

Especially, since 1997, the central bank has adopted series of active monetary policy to control deflation, increase investment and consumption in order to make macro economy prosperous.

特别是自1997年以来，为了抑制通货紧缩、启动投资和消费，使宏观经济运行尽快进入景气状态，中央银行实施了积极的货币政策，如连续八次降低存款准备金率、灵活出台窗口指导政策、扩大再贴现和中央银行再贷款规模等。

First, the dissertation discussed the relation between the central bank independence and the economic performance simply. We found that the central bank independence had an inverse relation with inflation, but no significant relation with the growth rate.

本文首先对中央银行独立性与经济绩效之间的关系进行了简单的论述，研究结果表明中央银行独立性的高低与通货膨胀率是呈反向关系，而与经济增长率则没有明显的关系。

This thesis intends to explore fundamental causes for risks related to financing activities of our state-owned commercial banks and draw relevant proposals to tackle these causes by undertaking thorough investigations into internal and external variables related to financing activities of the banksThis thesis firstly investigate four external variables affecting financing activities, including enterprises, government, central bank and social creditability before proceeding to make an enquiry into internal variables and make proposals to deal with these external and internal variables that cause risks related to financing activities.

本文旨在通过对国有商业银行贷款风险的研究，对我国国有商业银行信贷风险从银行内、外部因素这两大角度作了深入的分析，探究我国国有商业银行信贷风险产生的根本原因，并提出相应的对策。文章从企业、政府、中央银行、社会信用等四个方面对信贷风险产生的外部因素进行了探究，而后通过对信贷风险产生的内部因素的分析，为银行信贷风险管理指明了方向。

As a result,various behaves of the finance shifting its r esponsibility onto the central bank have emerged:the finance makes ove rdrawing or long term credit from the central bank,imposes mintage ta x,enforces financial restriction,carries out selective credit policy,po erates foreign currency according to non-market account values,provides d eposit insurance overtly or coverly according to subsidy interests,and re-gives capital appropriations to financial institutions which have l ost their

于是，出现了众多的政府财政对中央银行的责任转稼问题：财政向中央银行透支或长期借款；征收铸币税；实施金融限制；执行选择性的信贷政策；按非市场清算价进行外汇操作；按补贴利率公开或隐蔽地提供存款保险并对失去清偿力的金融机构重新提供资本等。

The effectiveness of the equilibrium credit rationing behavior to our monetary policy mainly express in following aspects: The first, the creation of the equilibrium credit rationing behavior influence the National Central Bank's activity of adjusting the control of foundational monetary directly; The second, the existence of the equilibrium credit rationing behavior inevitably influence the effectiveness of the National Central Bank controls the policy of the market interest rate; The third, the equilibrium credit rationing behavior would influence the monetary multiplicator; The fourth, the existence of the equilibrium credit rationing behavior would result the partition of the credit market.

均衡性信贷配给对我国货币政策的影响主要表现在以下几个方面：第一，均衡信贷配给的产生直接影响中央银行调控基础货币投放的主动性；第二，均衡信贷配给的存在必然影响中央银行控制市场利率政策的效力；第三，均衡性信贷配给影响货币乘数；第四，信贷配给的存在导致信贷市场的分割。

The electronic currency produces with thedevelopment the influence which produces to the Central Bank, needsthe Central Bank to adopt has a series of pointed measures,establishes set of effective supervising and managing systems and thecareful supervising and managing mechanism, guarantees both canencourage the electronic currency the development and the innovation,and can the possible risk control in the reasonable scope, anddevelopment and the consummation electron currency time monetarypolicy movement mechanism.

电子货币产生与发展对中央银行所产生的影响，需要中央银行采取有一系列针对性的措施，建立一套有效的监管体系和审慎的监管机制，以保证既能鼓励电子货币的发展和创新，又能将可能的风险控制在合理范围内，并发展和完善电子货币时代的货币政策运行机制。

China's interest rate from the current system, the market interest rates (such as money market, bond market interest rates) is clearly not in the list of interest rates; in direct control of the central bank's interest rate system, the re-lending and rediscount rate has not been very effective, because it few years the flow of adequate financial institutions makes little to rely on central bank loans and discount, and improve the reserve interest rate system with the reform of the general direction of inconsistency; Therefore, interest rates can only increase deposit rates or lending rates, both interest rates are in the current control and semi-control of interest rates.

中国的利率从目前的制度，市场利率（如货币市场，债券市场利率）显然不在列表中，利息直接控制的中央银行的利率制度，再贷款和再贴现率并不十分有效，因为这几年充足的流动金融机构几乎没有什么依靠中央银行贷款和贴现，提高准备金利率制度改革的总体方向不一致，因此，利率可只有增加存款利率或贷款利率，无论利率在目前的管制和半管制的利率。

Credit cards challenge the status of the Central Bank. They impact the monopoly authority of currency issue and reduce the seigniorage revenues.

信用卡挑战了中央银行的地位，冲击了其货币垄断发行权，同时减少了铸币税收入，缩小了中央银行的资产负债。

Moreover, under current foreign exchange administration system, foreign currency welled up like the tidewater, with the majority of which is bought by the bank of our country. That is, purchasing foreign currency has already become one of the main channels of our Central Bank throwing high-powered money into circulation.

这使得我国中央银行每年货币投放量的大小，在一定程度上决定于当年外汇的流入量，因而外汇储备的快速增长导致我国货币政策的中介目标货币供应量随之成倍的增长，加大了货币政策调控的难度，降低了中央银行制定货币金融政策的自由度。

The Economics prize went to executives and auditors5 of four Icelandic banks, the Landsbanki, Glitnir, Kaupthing and Central bank.

经济学奖分别授予了冰岛四家银行的管理者和审计员，这四家银行分别是冰岛国民银行、格里特利尔银行、克伊普辛银行以及冰岛中央银行。

I can not make it blossom and suits me

我不能让树为我开花

When temperatures are above approximately 80 °C discolouration of the raceways or rolling elements is a frequent feature.

当温度高于 80 °C 左右时，滚道或滚动元件褪色是很常见的特征。