银行间市场理财产品快速发展的原因及对银行业的影响

发布时间：2018-12-25 08:20

【摘要】：在融资类银信合作理财产品监管趋严并受到限制的背景下,投资银行间市场的理财产品快速发展是2011年理财市场的一个重要特点。本文的研究表明:一是在现有经济金融环境下投资者对较高收益率资产的需求与银行之间的存款竞争等多个因素共同促进了银行间市场理财产品的快速发展;二是银行间市场理财产品的发行不会对银行在市场中的地位产生影响,总体上对银行体系的稳定影响有限;三是银行间市场理财产品的发行对银行体系流动性总体有利,但会产生时点上的不利影响,并给中小机构的流动性管理带来压力;四是银行间市场理财产品的发行是一种金融创新,有利于金融机构的长远发展。本文建议:适当提高存款基准利率水平,稳步推进利率市场化;对现有银行间市场理财产品进一步加强监测与规范;在加强监管的前提下,继续鼓励银行金融创新。
[Abstract]:Under the background of strict supervision and restriction of financing bank and credit cooperation financial products, the rapid development of financial products in the investment interbank market is an important feature of financial management market in 2011. The research in this paper shows that: first, the demand of investors for higher yield assets and the deposit competition among banks in the current economic and financial environment promote the rapid development of financial products in the interbank market; Second, the issuance of financial products in the interbank market will not have an impact on the position of banks in the market, but has a limited impact on the stability of the banking system as a whole; Third, the issuance of financial management products in the interbank market is beneficial to the liquidity of the banking system, but it will have a negative impact on the time point and bring pressure to the liquidity management of small and medium-sized institutions; Fourth, the issue of financial products in the interbank market is a kind of financial innovation, which is conducive to the long-term development of financial institutions. This paper suggests that the level of deposit benchmark interest rate should be raised properly, and interest rate marketization should be promoted steadily; the supervision and regulation of financial products in the existing interbank market should be further strengthened; and the bank financial innovation should be encouraged on the premise of strengthening supervision.
【作者单位】：中国人民银行上海总部;
【分类号】：F832.2

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