The Monetary Supply Policy Effect of the Treasury Funds Depositing in Commercial Banks
构建分析框架研究国库资金存入商业银行对货币供给的影响，发现国库现金乘数影响银行贷款，而国库资金要求的抵押债务与银行贷款负相关，抵押债务过高时贷款会收缩，央行可通过调整国库资金准备金率来应对。
In this paper,we modeled the analysis framework to analyze monetary supply policy effect of the treasury funds depositing in commercial banks.As a result,we found that the treasury cash multiplier would influence the commercial bank loans.On the other hand,the mortgage debt required by the treasury funds had negative relationship with the commercial bank loans.Especially,when the mortgage debt exceeded some degree, the commercial bank loans would shrink.When it comes to problem that how to decrease the influence exerted by the treasury funds,the central bank can resort to the reserve ratio of the treasury funds.