Esearch On The Practice Of Basel ? In China And The Effect Of Macro-prudential Supervision Under Its Framework

The promulgation and implementation of Basel ?,as a result of the international banking industry's reflection on the global financial crisis,has had a far-reaching impact on the reform and practice of the current financial supervision system.Strengthening macro-prudential supervision,along with micro-prudential supervision,has gradually become the main direction of financial supervision reforms in various countries.As a full member of the Basel Committee,China has fully participated in the international financial regulatory reform process since the crisis and has attached great importance to the implementation of new international regulatory standards.Integrating the new international regulatory standards with China's reality and establishing a macro-prudential supervision framework with Chinese characteristics is the main line of China's banking regulatory reform.This article is intended to explore China's macro-prudential supervision practices under the framework of Basel ?.Among them,the focus is on the analysis of the effect of the macro-prudential supervision tool—counter-cyclical,buffer.The counter-cyclical buffer was first proposed by the Basel Committee to solve the problem of pro-cyclicality brought by banking operations.The credit channel is considered to be the main transmission mechanism for pro-cyclicality.When the macro-economy is overheated,bank credit is rapidly expanding.At this time,the supervisory authority should increase the bank's counter-cyclical buffer to cool the real economy;when the economy is depressed,the authority should reduce counter-cyclical buffer and the capital regulatory requirements,and release capital to support the real economy,and promote the recovery of the macro economy.In order to promote the implementation of international regulatory standards in China,the China Banking Regulatory Commission(CBRC)in the recently issued"Administrative Measures for the Capital of Commercial Banks(Trial)" provides regulations for counter-cyclical buffer.In this context,to study the calculation of counter-cyclical buffer,examine the relationship between counter-cyclical buffer and economic cycles,and measure its regulatory effect is of significant meaning for China's banking supervision reform and the establishment of macro-prudential supervision framework.This article reviews the evolution of various versions of the Basel Accord,and the implications and tools for macro-prudential supervision.Then the practice of Basel Accord and macro-prudential supervision in China is studied.Chapter 3 focuses on the new content and changes of Basel ? and elaborates the concept,content,and arrangements of new capital adequacy supervision in China.The analysis of the supervision effect of counter-cyclical buffer adopts an empirical analysis method.First,it introduces the counter-cyclical buffer model under the framework of Basel ? and the displays the collection and processing of related data.Then,the counter-cyclical buffer indicator in each period is calculated by H-P filter method.Through the analysis and description of the results,we can see the relationship between the indicator and China's real economic cycle.Furthermore,the regulatory effects of counter-cyclical buffer are quantitatively described by Pearson correlation coefficients.Finally,it is concluded that the counter-cyclical buffer has good applicability in China,but it still needs further improvement.Meanwhile,in order to ensure the effect of China's banks' macro-prudential supervision and counter-cyclical buffer tool,relevant suggestions are made according to China's actual situation.