Su Ning: Timely operation of Treasury cash Regulation liquidity

Su Ning said that there is money in the Treasury, in order to improve utilization, the central bank will lend commercial banks through the operation of the information map ⊙ Miaoyan Li Dandan 0 editor Ranchi because of the market funds face tight, Treasury cash management in the past has not been the market attention of the open market operation, recently with its interest rate of the Also among the small and medium-sized banks are hot for the object.　　Su Ning, deputy governor of the Central bank, 28th in exchange with netizens, said that the central bank to do cash management, not only to consider the needs of commercial banks, through more to do some more gains, but also to consider the need for monetary policy, to ensure that the overall market liquidity is more reasonable. Increase in the source of financial resources of commercial banks this month, 25th, 40 billion yuan central Treasury Cash Management Commercial Bank deposit (five) in the interbank market bid, the final period of 3 months of fixed deposit bid rate reached 3.48%. This is not only much higher than the 3-month-period 2.65% interest rate issued in February, or even higher than the previous 9-month period of 3.4% of the bid rate.　　To this end, the market has a voice that the central bank can increase the size of Treasury cash management operations, easing the shortage of funds in small and medium-sized banks. Su Ning said that there is money in the Treasury, in order to improve utilization, the central bank will lend to commercial banks through operations. This will indeed increase the financing of commercial banks, commercial banks can lend more to support economic development play a greater role. For the size of Treasury cash management, Suning said that there are some other factors to consider. The most needed emphasis was on the coordination of monetary and fiscal policy. Su Ning said that the central bank's treasury deposits in the central bank and placed in commercial banks is not the same.　　Money deposited in the central bank is equivalent to a certain amount of liquidity; lending money to a commercial bank in the central bank's coffers is the release of liquidity from the central bank's treasury into commercial banks. Treasury Cash Management Security first "if the amount of money in the community is too loose, the increase in treasury deposits can appropriately reduce the mobility of society." Su Ning said, the central bank should consider comprehensively, and in the more appropriate time operation Treasury Cash Management. "If the market liquidity allows, you can operate a little more cash out of the Treasury, if too much liquidity, less operation." "Previously, central bankers said that the most important principle of Treasury cash management is to ensure the security of Treasury funds." Profitability is not as important as security, and the central bank has virtually no impulse to gain. Cash Management is only a temporary way to manage Treasury funds, the person said, but not a fundamental solution to the excessive inventory size. In his view, the fundamental solution to the high inventory, or from the financial budget preparation and implementation process.