This is a mechanism identical to today's currency boards, which is why I say that a gold standard system is like a "currency board linked to gold.
这一机制跟今天的货币发行局作用相同，这也是为什么我说金本位制度就像是一个“与黄金挂钩的货币发行局”。
Recently the Argentina Financial Crisis caused the world to focus the attention on the macroeconomic effect of currency board system.
阿根廷爆发的金融危机再次引起人们对货币发行局制度的宏观经济效应的关注。
This paper USES interest rate premium and term premium to measure currency risk under currency board system.
本文用利率升水和期限升水来衡量货币局制度下的货币风险。
Thus that part of the monetary base represented by the clearing balance of the banking system was initially not subject to the discipline imposed by a currency board system.
因此，货币基础中银行体系结算余额的部分，最初并不受货币发行局制度约束。
The stable foreign exchange and money market conditions reflected in part the successful implementation of the technical measures to improve the currency board system in September 1998.
外汇和货币市场保持稳定，部分原因是1998年九月推出多项强化货币发行局制度的技术性措施奏效所致。
Without interfering with the normal operation of the currency board, we will continue to look for whatever means and ways to improve the liquidity of our banking system.
我们会在不干扰货币发行局的正常运作情况下，继续寻求可以增加银行流动资金的方法。
Without interfering with the normal operation of the currency board, we will continue to look for whatever means and ways to improve the liquidity of our banking system.
我们会在不干扰货币发行局的正常运作情况下，继续寻求可以增加银行流动资金的方法。
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