中央银行票据作为2002年中央银行推出的一个新操作工具，它的问世引起了学界极大的关注，肯定和质疑的声音同时存在。
The central bank introduced a new launched operational tool in 2002, which attracted considerable academic attention and appeared the voices of affirmation and hesitation.
不过，这是戏剧性的：中央银行通常在对他们发行的票据的法律价值引起质疑的政策上犹豫不决。
Still, it is dramatic: central banks usually balk at moves that call into question the legal worth of the notes they issue.
与把央行票据性质定位为中央银行债券的传统角度不同，本文从债务置换工具的视角重新阐释了央行票据的性质。
Unlike the former view that the character of Central Bank Bill is bond issued by Central Bank, this paper afresh explains its character from debt replacement instrument.
我国的“外汇资产—人民币”发行模式导致了货币的超额发行，央行票据是对中央银行超额发行债务的置换。
Because of RMB's excess issue through "foreign currency assets - RMB" model in China, Central Bank Bill as a debt tool has been replacing the excess currency.
我国的“外汇资产—人民币”发行模式导致了货币的超额发行，央行票据是对中央银行超额发行债务的置换。
Because of RMB's excess issue through "foreign currency assets - RMB" model in China, Central Bank Bill as a debt tool has been replacing the excess currency.
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