现金储备账户是以现金作为保障,提供了周转不息的流动性以及损失补偿;该笔资金可以来源于债券的初始发行收入,如果资金耗尽,不时地通过剩余现金流来补充,以维持其必要的余额。 现金储备账户是独立的信托账户,由发起人在证券化开始时存入。利差账户未能弥补的本息、服务费等缺口由本账户弥补。该账户在所有证券本息都得到支付后才能得到偿付。加美国的重组信托公司(Resolution Trust Corporation,RTC)某个系列的产品中现金储备约为发行金额的25%到30%。
券商买进国债,现金从券商的储备金账户美联储的国库存款,这笔存款一直没有动。
When dealers purchase the debt, cash shifts from their reserves accounts to Treasury deposits at the Fed, where they remain, unspent.
16如果银行补充它的库存现金,它在储备银行那里的账户将被联邦储备券注入。
If the bank replenishes its vault cash, its account at the ReserveBank is drawn down in exchange for notes issued by the Federal Reserve.
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