Commercial Bank Behavioral Analysis Under Our Country Monetary Policy Transmission

At present, the bank credit channel is the main channel of our country monetary transmission. The commercial bank is playing the pivotal role in our country monetary policy transmission. Monetary policy implementation is decided greatly by the commercial bank whether makes the reasonable response to the monetary policy.This paper has studied systematically commercial bank behavior under our country monetary policy transmission. At first, it analyzes how commercial banks react on the main monetary policy (bank reserve against deposits policy, interest rate policy and so on), analyzes commercial bank's credit behavior, the property debt combination behavior with emphasis. Thus discovers expansion monetary policy (1998-2002 year) influences commercial bank's behavior little, reducing monetary policy (2003-) although has limited the commercial bank credit quickly growth in the certain degree, but it is very difficult to regulate the commercial bank's credit structure. Commercial bank's behavior weakened our country monetary policy transmission effect.Then, the paper analyzes behavior distortion reason of the commercial bank under the monetary policy transmission from the system economic, the behavior finance and the game theory. The root lies in these areas, the state-owned commercial bank'property structure is unreasonable; the monetary policy conduction mechanism transforms and banking industry reforms in different time; the monetary policy conduction mechanism transforms with the commercial bank manages pattern in different time; financial structure development isn't identical with economic structure.Finally, according above study, proposes how to guide our country commercial bank behavior, in order to enhance the monetary policy transmission effect. Mainly consummates the ecological environment of our country monetary policy transmission, enhances the decision power of the central bank, speed up the commercial bank reform.