英语翻译The reserve requirements（法定准备金） is the percentage of its

英语翻译
The reserve requirements（法定准备金） is the percentage of its deposits that a bank must hold,in cash or on deposit,with a Federal Reserve bank.Hight requirements mean that banks have less money to lend.Thus,a high reserve requirement reduces the money supply.Conversely,low requirements permit the supply to expand.Because the Fed sets requirements for all depository institutions,it can adjust them to make changes to the overall supply of money in the economy.
as the bankers' bank,the Fed loans money to banks.The interest rate on these loans is known as the discount rate（贴现率）.If the Fed wants to reduce the money supply,it increases the discount rate,making it more expensive for banks to borrow money and less attractive for them to loan it.Conversely,low rates encourage borrowing and lending and expand the money supply.The Fed used a series of discount rate decreases------from 6.0 percent beginning in May 2000 down to 1.25 percent in December 2001----to speed up the sagging U.S.economy.
The third instrument for monetary control is probably the Fed's most important tool.Open--market operations（公开市场业务） refer to the Fed's sale and purchase of securities(usually U.S.Treasury notes and bonds) in the open market.Open--market operations are particularly effective because the act quickly and predictsbly on the money supply.How so?The Fed buys securities from dealers.Because the dealer's bank account is credited for the transaction,its bank has more money to lend,and so this transaction expand the money supply.The opposite happens when the Fed sells securities.

法定准备金是一家银行按照一定的比例,通过现金或者存款,必须存在联邦储备银行的一种款项.之所以被称为准备金是因为银行只须支出较少的资金.比较高的法定准备金可以减少资金供应,相反,比较低的法定准备金会提高资金供应.由于法定准备金是由联邦储备银行设置的,所以联行可以通过调整它的比例来改变经济运行中不平衡的资金供应.
作为银行的银行,联邦储备银行借款给其他银行.借款的利率被称作贴现率.如果联行想减少资金供应,它会提高贴现率.如果联行想增加资金供应,它会减少贴现率,通过提高贴现率来减少其他银行向它借款,反之亦然,较低的利率会鼓励其他银行向它贷款从而提高资金供应.联行使用过一系列的减少贴现率的方法,比如在2000年5月曾把贴现率从6%减少到2001年12月的1.25%,给当时正在下滑的美国经济加速.
第三种控制货币流通的手法或许是联行最重要的工具.公开市场业务是指联行在公开市场上销售和购买证券（通常是美国国库期票或者公债）.公开市场业务非常有效,因为它可以在资金供应上快速准确的反应.
联行通过从证券经纪人那里购买证券,因为证券经纪人的业务是直接记入他的银行账户的,证券经纪人的银行如果有更多的资金可以贷记,那么这笔交易就提高了资金供应.如果联行销售证券就刚好相反.