Research On The Impact Of China Monetary Policy On The Risk-taking Degree Of Commercial Banks

For a long time, commercial banks is considered to be the monetary policy conduction intermediary, and its change of monetary policy is no risk reactions, namely the commercial bank is risk neutral, but in 2007 the global financial crisis the academic and practical circles pay attention to commercial banks will be based on changes in the monetary policy to take the initiative to choose and assume a certain degree of risk. Investigate the financial crisis’ s root, scholars believe that low interest rates in the United States in 2002 started the implementation of the monetary policy environment, the formation of the expansion of the financial asset price bubbles and securitized products, the commercial banks and other financial institutions to take on the degree of risk is too high. As a result, the accumulation of a large number of risk. Since monetary policy and firm risk degree of research into the sight of scholars.China’s specific economic and financial situation so that we should pay attention to the relationship between monetary policy and firm to assume the risk degree: China’s economy into the new normal, the government to stimulate the economy will be the implementation of prudent partial easing of monetary policy, thus creating the prerequisite for research on this topic and also the interest rate marketization of our country made great progress and capital regulation reform the risk of commercial banks to improve the sensitivity, in loose monetary environment is likely to change their risk preferences and risk behavior, and influence to China’s financial stability and monetary policy transmission efficiency.The changes in monetary policy of our country in the commercial bank risk undertakes the degree as the research object, the research is on the basis of literature review, theoretical statements, of our country monetary policy practice and commercial banks reality analysis, China’s large and small and medium-sized joint-stock commercial bank data and part of the macro data for China’s monetary policy on commercial banks bear the risk degree is to study the effects, including using different monetary policy tool to verify, and to study the influence of specific path of what, finally, the conclusion gives the corresponding policy recommendations. This paper uses a combination of qualitative analysis and quantitative analysis, the historical experience of literature analysis and comparative analysis.Around the central theme, through the research of practical and empirical research, this paper draws the following conclusions: China’s monetary policy, whether the risk quantity type instrument or price based monetary tools will bear a certain degree of commercial banks choose effect, income effect, and the valuation of specific interest effect, habit formation, risk transfer effect of conduction path and the existing segmentation risk in China’s commercial banks willingness and behavior change in China; in addition, the degree of risk of China’s monetary policy on commercial banks take the big small, affected by external macro economic operation status, related to the relationship between the two, but also depends on the its own balance sheet characteristics influence. At the end of this paper, the policy recommendations are given from the micro level and the macro policy level of the financial risk accumulation of the firm’s monetary policy risk taking behavior and the impact of the policy transmission efficiency.