我国商业银行异化创新业务风险分析及监管建议

发布时间：2018-03-16 00:21

本文选题：商业银行　切入点：创新业务　出处：《国际金融研究》2017年04期 　论文类型：期刊论文

【摘要】：近年来,随着金融深化进程的推进,中国的金融机构和金融市场获得了快速发展,各类新型业务日新月异、层出不穷。商业银行以其规模、活跃度和参与度成为参与市场发展的核心力量。与此同时,部分异化的创新业务和模式完全超越监管边界并不断衍生发展,形成多方参与、结构复杂、业务多样、资金混用的局面,其潜在风险不容忽视。本文从低准入标准的授信、发起-分销、理财资金池、同业投资四个维度,比较了目前中国商业银行异化创新业务和美国过去十多年间的各类金融创新,发现虽然业务模式和形式各异,但本质相似、风险属性趋同,都存在降低授信准入标准、高复杂性、高杠杆率、低透明度、流动性错配等问题。从微观层面来看,这使单个机构面临的风险加大;从宏观层面看,则加大了金融体系的脆弱性,抬高了社会总体杠杆率,提升了实体经济的不确定性。针对这些不审慎的创新,金融监管当局采取了多种措施,但总体效果尚不明显,亟需系统性的监管安排和设计。只有从市场参与者、投资者,到监管当局都引起重视,并采取行之有效的措施加以规范,才能促进市场的健康发展,维护金融体系的稳定。
[Abstract]:In recent years, with the advancement of financial deepening process, China's financial institutions and financial markets have gained rapid development, and various new types of business have changed with each passing day. Activity and participation have become the core forces of market development. At the same time, part of the alienated innovative business and model completely transcend regulatory boundaries and continue to evolve, forming multi-party participation, complex structure, diverse business, The potential risks of the mixed use of funds can not be ignored. This paper focuses on the four dimensions of low access standard credit, initiation-distribution, wealth management fund pool, and interbank investment. This paper compares the dissimilation innovation business of Chinese commercial banks with that of various kinds of financial innovations in the United States in the past ten years. It is found that although the business models and forms are different, the essence is similar, the risk attributes converge, and there are lower credit entry standards. High complexity, high leverage, low transparency, liquidity mismatch, and so on. At the micro level, this increases the risks faced by individual institutions; at the macro level, it increases the fragility of the financial system and raises the overall leverage ratio of society. Raising uncertainty in the real economy. Financial regulators have taken a variety of measures to address these imprudent innovations, but the overall effect has not been apparent, and there is a need for systematic regulatory arrangements and design. Only from market participants, investors, In order to promote the healthy development of the market and maintain the stability of the financial system, the regulatory authorities attach importance to it and take effective measures to regulate it.
【作者单位】：中国金融四十人论坛;上海银监局股份制银行分行监管处;
【分类号】：F832.33

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