Analysis Of Influential Factors On Bank Risk-taking By The View Of Macro-prudential

Since the subprime crisis,"macro-prudential" came into the public’ view,whose fundamental idea is to guard against systemic risk,rather than just clinging to how to guard against a single bank’s risk.So,in dealing with the issue of bank risk-taking,we can also introduce the concept of "macro-prudential" into the field of bank risk-taking.This paper,reviewing related literatures about the influential factors of bank risk-taking and combing the domestic and foreign research on bank risk-taking,found that most of previous literature tended to research bank risk-taking by the view of single bank individual and mainly discussed the conduction path of bank risk-taking on the point of micro level and tested the conduction path’s existence and studied regulation of bank’s capital,monetary policy,macro-economy these factors’influences to bank risk-taking,while study from the perspective of the bank industry is deficient.This paper introduces the awareness of macro-prudential into study,regarding the bank industry as a whole,studying from the perspective of the bank industry and the single bank.On the macro level,the VAR model uses the data of China’s banking industry from 2011Q1 to 2016Q3 to study that when the money supply changes,the bank risk-taking will have a positive reaction firstly,then become a negative reaction,and finally come into a positive reaction;when the growth of economy changes,the bank risk-taking will have a positive reaction firstly,then become a negative reaction;when the core capital adequacy ratio changes,the bank risk-taking will have a negative reaction.The contribution of the core capital adequacy ratio to the change of bank risk-taking is the most significant.On the micro level,using panel threshold model and data of 42 China’s banks from 2008 to 2015,this study shows that both for the sample combined by 42 China’s banks,or the sample combined by national joint-stock banks and the sample combined by city commercial banks,the core capital adequacy ratio exists two threshold variables.When the core capital adequacy ratio is in different interval,monetary policy has different direction of the effects to bank risk-taking.This paper gives suggestions from the view of the regulatory authorities and the bank individuals on how to control bank risk-taking suggestions.In the view of the former,put Macro-prudential Management in the core position;to avoid problems in coordination,strengthen the central bank’s right as a Macro-prudential Management authority;considering the relationship the Macro-prudential and Micro-prudential,to form a synergistic effect in supervision,requires a comprehensive use of these two means,so as to gain an expected effects.This paper probes into the coordination of monetary policy and Macro-prudential policy,and on this basis,gives some suggestions on how to control bank risk-taking from two aspects of policy choice and collocation;Improve monetary policy and banking supervision measures by emphasizing the concept of integrity and financial stability.In the view of the later,strengthen the risk awareness of business,and promote the development of intermediary business,and ultimately control the risk level of banks in a controllable and appropriate range.