论文标题
带有分层薪酬的银行交易的简单模型
A simple model of interbank trading with tiered remuneration
论文作者
论文摘要
负利率政策通常伴随着分层的报酬，这允许免于负利率。这项研究提出了一个基本的利率模型，该模型由岸上市场形成，并通过分层系统形成。该模型预测的结果在很大程度上反映了2019年底，当时欧洲中央银行推出，瑞士国家银行修改了分层系统。
A negative interest rate policy is often accompanied by tiered remuneration, which allows for exemption from negative rates. This study proposes a basic model of interest rates formed in the interbank market with a tiering system. The results predicted by the model largely mirror actual market developments in late 2019, when the European Central Bank introduced, and the Switzerland National Bank modified, the tiering system.
