Bhizinesi reDesperate Bankers
Iyo Inoshanda Sei
Mari dzinokwereta dzinofanira kutora chikwereti kuDhadharo mubhadharo yemari yacho.
Dhaka yakadaro inogona kusanganisira mabhizimusi eMuAmerica, zvibvumirano, uye manotsi , hurumende yehurumende neyemunharaunda, AAA mortgages, zvikwereti zvevatengi , uye zvikwereti zvebhizimisi . Muna 1999, Federal Reserve yakagamuchirawo mabhizimisi-grade grade Certificate of Deposits uye AAA- yakaridzirwa kuchengetwa kwemari .
Dhaka inovatengesa iyo yakaderedzwa kutengesa purogiramu . Ndiyo 0.5 muzana yepamusoro kune chikwata chavanofarira vanobhadharana kune husiku husiku hwekubhadhara, mari yemari inotengeswa . Iyo Fed inoita kuti chikwata chayo chiwedzere nokuti inosarudza mabhenji kubhadhara kubva kune mumwe nemumwe. Heino parizvino iri kutora purogiramu.
Somugumisiro, bhengi rinorega kushandisa shanduro yekuderedza sezvinogona. Ichi chiratidzo chokuti pane chimwe chinhu chakashata kana isingagoni kuwana zvikwereti kubva kune dzimwe mabhanga. Zvinoratidzika sezvisingatauriki kana zvichikamanikidzwa kubhadhara mari yeFed yakakwirira yekuwana chikwereti zvachose. Izvo zvinoita kuti dzimwe mabhengi zvive zvisingakwanisi kubhadhara iyo munguva yemberi.
IFed inoshandisa firiji iri kutora kuti ipe chisarudzo chokupedzisira chezvikwereti.
Inoshandisawo hwindo uye mamwe maitiro ekushandisa mitemo yemari . Semuenzaniso, inokwidza kukodha kwezinga apo inoda kuderedza mari inowanikwa . Inowanzosimudzira kudyidzana kwemari yemari panguva imwe chete. Izvo zvinopa bhangi mari shoma yekukweretesa, kuderedza hupfumi hwehupfumi. Izvozvo zvinonzi kuvhiringidza mari yemitemo , uye inoshandiswa kurwisana nehupfumi.
Izvo zvinopesana nemutemo wekuwedzera wemari , uye inoshandiswa kukurudzira kukura. Kuti uite izvi, Fed inoderedza kusarudzwa uye Fed mari yehuwandu. Izvozvo zvinowedzera mari inopa. Inopa mabhengi mamwe mari ekukweretesa.
Iko kune zvimwe zvakawanda zvishandiso izvo zvinoshandisa kuwedzera kana kuvharira kubhengi kwebhangi. Chishandiso chayo chakashandiswa kwazvo inoshandiswa mumisika yemabasa . Kuwedzera kukweretesa, inotenga mabhengi ebhengi. Inotora nzvimbo yavo nechikwereti pane bhadha rebhangi. Izvi zvinopa bhangi mari yakawanda yekukweretesa. Kuti iite zvikwereti, Fed inotsiva mari yebhangi nemabhadharo. Bhengi haina chaanosarudza apo Fed inoda kutengesa zvigumisiro. Kuongororwa kwepamusoro ndiko kuwedzera kukuru kwemabasa emisika. Munguva yekutambudzika kwezvemari, Fed yakagadzira zvimwe zvishandiso zvitsva zvakare.
Nhepfenyuro inomutsa nekuderedza mitengo kuburikidza neGeral Open Market Komiti , maneja weF Fed. Inosangana kanomwe pagore. Heano purogiramu yemusangano weFOMC nechinyorwa chezviito zvechangobva kuitwa.
Nhoroondo yeWhendi Yokupa
Panguva iyo Fed yakasimbiswa muna 1913, hwindo rekutsvaga raive chinhu chayo chikuru. Inopa chikonzero chekuchengetedza chirwere chinokosha munguva dzenjodzi. Semuenzaniso, munguva yeJ2K yekutya 1999 uyezve shure kwekutsvaira kwe11/11 , Fed yakasunungura zvinetso zvayo kuita kuti mabhengi ave nemari yakawanda.
Panguva iyoyo, Fed yaida kuti mabhenji aratidze kuti vakanga vasina imwe nzvimbo yemari. Izvozvo ndezvokuti kuderedzwa kwemazinga kwaive kwakaderera kudarika Fed mari yakawanda. Saka, mabanki akawanda akadzivirira mahwindo ekubvisa kunyange kana achida.
MunaJanuary 2003, Fed yakazotsiva iyo sangano ine hurongwa hwekutanga uye wechipiri. Kunyange zvazvo zvakashata, mabhangi achiri kuve nehutano hwakanaka kuti atokodzero yepurogiramu yekutanga. Kana ivo vari mumamiriro ezvinhu akaipa, vanogona kunge vakakodzera purogiramu yechipiri, iyo inofanirwa kunyange yakakwirira. Asi nokuda kwebhanhire rakashata, zvichiri kusarudzwa kupfuura kuenda kunze kwebhizimisi uye kutorwa ne Federal Deposit Insurance Corporation .
Pane purogiramu yechitatu yemabhanki emunharaunda. The Window. discount rate purogiramu inogona kuvapa mari zvenguva pfupi kana vachida kupa zvikwereti kuvarimi, vadzidzi, maresitorendi uye vamwe vatoresi venguva.
Hapana hupombwe hwakabatanidzwa purogiramu iyi.
Yakawanda munguva pfupi yapfuura, Fed yakashandisa firiji yekubvisa kuti ipe pfuma yakawanda mumusika munguva yematambudziko emari . Mabhangi anogona kugara achitenderera pahwindo rekutsvaga kuti ape rubatsiro kana zviitiko zvakasununguka zvikasimuka. Asi Kudyidzana kunongoshandura chete firiji yekuburitsa mune dambudziko. (Kubva: Fomu yeHurumende yeRudzi Rutsva.)