2 seasonal loans, that is, loans that specialized banks and other financial institutions have to adjust to the central bank due to the increase in seasonal payments. The term is generally 2 months, and the longest is no more than 4 months;

3. Daily loans, that is, loans applied by specialized banks and other financial institutions to the Central Bank to adjust the temporary shortage of funds. The term is generally 10 day, and the longest is no more than 20 days;

4. rediscount: specialized banks and other financial institutions hold discounted unexpired legal commercial acceptance bills or bank acceptance bills, transfer the bills to the central bank, and obtain loans from the central bank. The term is generally 3 months, and the longest is no more than 6 months.

The objectives of the central bank loan are:

Control the total loan scale;

2. Adjust the loan structure and control the total amount of loans.

3. Tightening the loans of the People's Bank in a planned way; The loan scale directly affects the expansion or contraction of money supply.

Clarify the choice of assistance methods

At present, with the gradual restructuring and full opening of the banking industry, the lender of last resort should be diversified and flexible to adapt to different situations.

First, strictly limit the way of refinancing. Although refinancing can alleviate the financial crisis to a certain extent, it has little effect on maintaining the stability of the entire financial system. On the contrary, the increase in the amount of refinancing aggravates the non-performing loan ratio of the central bank, and also makes the base money put in excess, leading to a certain degree of inflation. Finally, when the lender rescues the problematic bank, it should strictly limit this method as much as possible.

The second is to seriously implement the rediscount window. With the full opening of the banking industry in China, commercial banks often have the possibility of insufficient liquidity, insolvency or even falling into crisis or bankruptcy. In this case, the rediscount measures will play the role of lender of last resort. In the process of implementation, it is necessary to ensure that the rediscount rate is higher than the interbank lending rate, and that the lender of last resort of the central bank will provide assistance when other financing channels (such as the interbank lending market) cannot be obtained, so as to prevent commercial banks from borrowing from the interbank lending market to earn spreads after obtaining rediscount funds and prevent them from relying on the People's Bank of China.

The third is to standardize the open market business. This is the medium for the lender of last resort to inject liquidity into the banking system and adjust the liquidity level of commercial banks, and it is the abnormal form of the lender of last resort system of the central bank. At present, the open market operation business is used more and more frequently and the business is more and more active.

In order to adapt to different situations, the central bank can also play the role of lender of last resort through guarantees and commitments. When there is a systemic crisis, the central bank, as the lender of last resort, usually tries to assure the public that it will take decisive measures to limit the scope of any financial turmoil.