什麼是金融市場

以便利短期貨幣借貸為目的的一整套機構、規章及做法。因此，金融市場不同於有關中長期信貸的資本市場。金融市場的貨幣涵義不限於銀行券（紙幣）而是包括經過短期通知即可變為現金的一系列資產，如政府短期證券和匯票。雖然各國的金融市場的具體事宜和運作方式有所不同，但其基本功能都是讓手中有短期資金的人可以出借，而需要信貸的人可以借到款項。這一功能通常由一個需要抽取利潤的仲介人來完成。在大多數國家裏，政府在金融市場中扮演一個重要的角色，同時作為借出者和借入者存在，並常常利用其手中的權力來頒佈貨幣政策以影響貨幣供給和銀行利率。美國的金融市場有許多金融工具，從匯票和政府證券到票據交換所和存款單的資金。此外，聯邦準備系統還直接向銀行提供大量的短期信貸。國際金融市場則調節國家之間的借出、借入和貨幣交換等活動。

money market

Set of institutions, conventions, and practices whose aim is to facilitate the lending and borrowing of money on a short-term basis. The money market is, therefore, different from the capital market, which is concerned with medium- and long-term credit. The transactions that occur on the money market involve not only banknotes but assets that can be turned into cash at short notice, such as short-term government securities and bills of exchange. Though the details and mechanism of the money market vary greatly from country to country, in all cases its basic function is to enable those with surplus short-term funds to lend and those with the need for short-term credit to borrow. This function is accomplished through middlemen who provide their services for a profit. In most countries the government plays a major role in the money market, acting both as a lender and borrower and often using its position to influence the money supply and interest rates according to its monetary policy. The U.S. money market covers financial instruments ranging from bills of exchange and government securities to funds from clearinghouses and certificates of deposit. In addition, the Federal Reserve System provides considerable short-term credit directly to the banking system. The international money market facilitates the borrowing, lending, and exchange of currencies between countries.