Interbank market

Japanese: 銀行間市場 - ぎんこうかんしじょう

…Exchange banks buy and sell foreign exchange with each other to adjust foreign exchange positions and fund surpluses and shortfalls that arise from these transactions with customers. These transactions between exchange banks are called interbank transactions, and the market is called the interbank market. Transactions in the interbank market are either conducted via foreign exchange brokers or direct transactions in which exchange banks trade directly with each other. However, since the latter has limited opportunities for mutually satisfying encounters, transactions via foreign exchange brokers are overwhelmingly more common. …

From [Open Market Operations]

... refers to increasing or decreasing the monetary base (also called high-powered money). The open market here is a concept contrasted with the interbank market, and refers to a financial market in which companies and individuals other than banks can also participate, unlike interbank markets in which only banks, such as the central bank and private banks, can participate, such as the call market and bill trading market in Japan, or the federal funds market in the United States. Specifically, in Japan, there is the government bond secondary market, the repo market, and the CD (negotiable certificate of deposit) market, while in the United States, in addition to the government bond secondary market, there are a wide range of markets for TB, CD, BA (bank acceptance), and CP (commercial paper).

*Some of the terms used in the "interbank market" are explained below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

Japanese:

…為替銀行は，こうした対顧客取引によって生じた外国為替の持高や資金の過不足を調整するため，相互に外国為替の売買を行う。この為替銀行間の取引を銀行間取引(インターバンク取引interbank transaction)といい，その市場を銀行間市場interbank marketという。銀行間市場における取引には，外国為替ブローカー経由で行われるものと，為替銀行が相互に直接取引を行う直（じき）取引とがあるが，後者は相互に満足する出合いが限られるため，外国為替ブローカー経由取引が圧倒的に多い。…

【公開市場操作】より

…マネタリー･ベース，ハイパワード･マネーともいう)を増減させることを指す。　ここでいう公開市場とは，銀行間市場inter‐bank marketと対置される概念で，日本のコール市場，手形売買市場，あるいはアメリカのフェデラル･ファンド･マーケットのように，中央銀行と民間銀行という銀行だけが参加できる銀行間市場とは異なり，銀行以外の企業や個人も参加できる金融市場を指す。具体的には，日本の場合は国債流通市場，現先市場，CD(譲渡性預金)市場があり，アメリカの場合には，国債流通市場のほか，TB,CD,BA(銀行引受手形)，CP(コマーシャル･ペーパー)の市場などが広範に存在する。…

※「銀行間市場」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典第２版について | 情報

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