中午传的中小银行限制持有金融债的消息。国债低开后迅速拉升。市场解读为对国债利好。如果政策性金融债也被限制持有，那么，在经济下行过程中，只有买国债了。当然，以后也许还会限制国债。这个影响实际上很大，一些大量资产负债大量暴露于银行间市场的银行，可能被迫面临资产负债表调整风险。这反而可能降低对实体的贷款。

当局者真的不理解，资金不进实体经济，是企业家缺乏信心的表现吗？

*知情人士：中国对部分城商行同业资产和负债业务提出限制规定

China Is Said to Cap Small Banks’ Exposure to Interbank Market

By Bloomberg News

(Bloomberg) –?

China’s banking regulator has told some of the nation’s city commercial lenders to limit their interbank exposure, according to people familiar with the matter, who asked not to be identified as they’re not authorized to speak publicly on the matter.

City banks in provinces such as Guangdong, Fujian, Sichuan, Jiangsu and Liaoning will be required to cap their inte