一、问题的提出回购业务是商业银行等金融机构进行资产负债比例管理的重要工具,并成为国外大型商业银行尤其是货币中心银行的重要资金来源。例如,截至2005年12月31日,美国最大的商业银行美洲银行财务状况表中“购入联邦基金和回购协议下已出售证券”项目占总负债的20.22%,成为仅次于存款的第二大资金来源项目。在我国,回购业务也对商业银行 First, the issue raised The repo business is an important tool for the commercial banks and other financial institutions to manage the ratio of assets and liabilities, and become a major source of funding for large foreign commercial banks, especially the currency center bank. For example, as of December 31, 2005, the Bank of America, the largest commercial bank in the United States, has 20.22% of the total liabilities in the Statements of Securities Sold under the Federal Funds and Repurchase Agreements, becoming the second only to deposits The second largest source of funding projects. In my country, repo business is also on commercial banks